Better Choice Company Inc. (BTTR) shares haven’t started their Tuesday’s pre-market trading yet. BTTR rose 9.35% to trade at $3.04 in after-hours on Friday, January 14, 2022. In the regular trading session of Friday, BTTR’s stock lost 5.76%. BTTR shares have fallen 66.43% over the last 12 months, and they have moved down 6.71% in the past week. Over the past three months, the stock has lost 34.89%, while over the past six months, it has declined 33.74%.
Let’s see what’s happening with the company?
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BTTR participation at the recent event
Better Choice Company recently participated at the ICR Conference 2022 which was held virtually on January 10-12, 2022. BTTR was presented by Scott Lerner, CEO, and Rob Sauermann, EVP Strategy, during the event.
The company also participated at the 10th Annual ROTH Deer Valley Corporate Access Event which was held virtually on December 8-11, 2021 at the Montage Deer Valley in Park City, Utah.
BTTR share repurchase program
On December 22, 2021, Better Choice Company (BTTR) announced that it has repurchased an additional $326,000 of the Company’s common stock at an average price of $3.43 per share in the open market with cash on hand. The Company has repurchased approximately $1.6 million of its currently outstanding shares of common stock with its approved stock repurchase program effective until December 31, 2021.
Massive BTTR sales on Singles Day
On December 15, 2021, Better Choice Company (BTTR) reported that consumers purchased $2.6 million of Better Choice branded products during Singles Day. Singles Day, also known as Double 11, is the largest online shopping event in the world and takes place in China each year in the weeks leading up to November 11th.
The company is expecting a total of $14 million – $15 million of international sales for FY 2021 compared to $8.6 million in sales in 2020.
BTTR latest financial results
On November 10, 2021, Better Choice Company Inc. (BTTR) reported its financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- BTTR reported net sales of $13.2 million in Q3 2021 compared to $11.13 million in Q3 2020.
- The cost of sales was $8.7 million compared to $6.7 million in Q3 2020.
- Total operating expenses were $8.4 million compared to $7.74 million in Q3 2020.
- It suffered a net loss of $3.5 million in Q3 2021 compared to a net loss of 1.73 million in Q3 2020.
- Adjusted EBITDA was $1.4 million for Q3 2021 compared to $0.3 million in Q3 2020.
Nine months financial highlights
- BTTR reported net sales of $35.0 million for the first nine months of 2021 compared to $33.3 million in the first nine months of 2020.
- The cost of sales was $22.4 million for the first nine months of 2021 compared to $20.56 million for the same period in 2020.
- Total operating expenses were $24.9 million compared to $37.05 million for the nine months in 2020.
- It earned a net income of $8.5 million in the first nine months of 2021 compared to a net loss of 29.65 million for the same period in 2020.
- Adjusted EBITDA was $4.3 million for the first nine months of 2021 compared to $0.84 million in the same period of 2020.
Well, as of this writing, we have no valid reason for its gains in the after-hours on Friday. Let’s see how it performs in the coming trading sessions on Tuesday?