COMMUNIQUÉ DE PRESSE

par Wildpack Beverage Inc (NASDAQ:WLDPF)

Wildpack Beverage Announces Q3 2023 Financial Results

Third Quarter 2023 Highlights (in USD):

  • Q3 2023 Sales Revenue grew 80.9% to $14.78 million compared to $8.17 million in Q3 2022.
  • Production volume for Q3 2023 grew 96.4% to 34.85 million cans compared to 17.75 million cans in Q3 2022.
  • Plant Utilization in Q3 2023 grew to 40.7% from 24.2% in Q3 2022.
  • Gross Profit in Q3 2023 was 8.5% compared to a Gross Loss of 6.1% in Q3 2022.
  • Confirmed Customer Orders grew 37.5% in Q3 2023 to $14.58 million from $10.60 million Q3 2022.

VANCOUVER, BC / ACCESSWIRE / November 29, 2023 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ("Wildpack Beverage" or the "Company") a leading US middle market co-packer of canned goods announces unaudited financial results for the third quarter ("Q3") ending September 30, 2023. All currencies referenced herein are US Dollars, unless otherwise indicated.

"In Q3, our year-over-year results are promising. Despite ongoing production challenges in Baltimore due to the line upgrade, we remain optimistic about the overall positive trajectory," commented Mitch Barnard, CEO of Wildpack Beverage. "This period of transformation is a testament to our commitment to constant improvement, and we are confident that overcoming these hurdles will lead to even greater success in the future."

Q3 2023 Condensed Consolidated Interim Statements of Loss & Comprehensive Loss (Unaudited)



Three months ended September 30,Nine months ended September 30,

Note2023
2022
(Restated, note 21)
2023
2022
(Restated, note 21)






Sales
13$14,776$8,171$42,570$25,611
Cost of sales
Production costs
1412,8947,66236,39723,358
Depreciation and amortization
6, 7, 86331,0041,7962,313
Cost of sales
13,5278,66638,19325,671
Gross profit
1,249(495)4,377(60)
Operating expenses
Selling
8576732,7521,979
Salaries, wages, and benefits
1,1361,5874,5615,254
Depreciation and amortization
6, 7, 81,0079682,8402,858
Office and administrative
6135521,7961,472
Share-based compensation
124941161,026297
Professional fees
522949391,216
Bad debt
350529730655
Other operating
13619942811
Operating expenses
4,6454,91815,07213,742

Other expenses
Bank and finance charges
101415725
Interest on long-term debt
102,6271,2335,7543,753
Interest on lease obligations
9156177415570
Loss on derivative asset
11-(2)-151
Foreign exchange loss
2-11-
Other expenses
2,7861,4126,3374,499

Net loss
$(6,182)$(6,825)$(17,032)$(18,301)

Other comprehensive income (loss)
Items that may be reclassified to profit or loss:
Foreign currency on translation (loss) gain
5881,613(53)2,434
TOTAL COMPREHENSIVE LOSS
$(5,594)$(5,212)$(17,085)$(15,867)

Weighted average number of common shares outstanding
112,508,461101,241,490112,042,214101,442,205

Loss per share - basic
$(0.05)$(0.07)$(0.15)$(0.18)
Loss per share - diluted
$(0.05)$(0.07)$(0.15)$(0.18)

Q3 2023 Condensed Consolidated Interim Statement of Cashflows (Unaudited)

Nine months endedNine months ended
September 30,September 30,

Note2023
2022
(Restated, note 21)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$(17,032)$(18,301)
Adjustments for items not affecting cash:
Depreciation and amortization
4,5344,730
Interest expense
6,1612,397
Share-based compensation
121,026297
Unrealized loss on derivative asset
11-301
Changes in non-cash working capital:
Voir toutes les actualités de Wildpack Beverage Inc