SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Yerbaé Brands Corp. (TSXV: YERB.U) ("Yerbaé" or the "Company"), a plant-based energy beverage company, reported record revenue of US$4.1 million in net sales in Q2 2023, representing year-over-year ("YoY") growth of 122% for the quarter. With total net revenue of US$7.6 million after the first half of 2023, Yerbaé has already exceeded its full year net revenue in 2022.
- Gross margin as a percentage of net revenue improved to 56% in Q2 2023 vs 50% in Q1 2023.
- Volume grew 122% due to strong consumer demand, higher velocities in retail, and increased points of distribution.
- Yerbaé achieved OTCQX® Best Market Qualification and attained DTC Eligibility.
- Delivered strong performance in 131 outlets of the largest club store chain in the United States.
- Expanded distribution with Compass Group North America to 10,000 locations across 24 states.
- Partnered with Farrell Distributing to expand distribution into the State of Vermont.
- SPINS retail data as of 7.2.23, shows Yerbaé sales in TL US-MULO up +161% YoY YTD. This compares to the energy drinks category which grew +16% YoY YTD over the same time period.1
Subsequent events
- On July 10, 2023, Yerbaé announced the launch of two new flavors, Lemonade and Yuzu Lime, available nationally in 348 Sprouts Farmers Market Stores.
- On July 14, 2023, Yerbaé announced a thirty percent surge in sales on Amazon Prime Day versus prior year while reducing promotional spend by twenty times.
- On July 17, 2023, Yerbaé announced its continued expansion into 77 additional club stores in the Southeast Region of the largest club store chain in the United States.
- On August 21, 2023, Yerbaé announced its closing of the first tranche of a celebrity investment round, securing over US$4 Million, along with the formation of a new Sports & Entertainment Board.
- On August 23, 2023, Yerbaé announced its partnership with Richmond Flowers, Founder of QB Collective, who will spearhead collaboration between Yerbaé and top influencers from professional and collegiate football.
"We are thrilled with the momentum in market response to Yerbaé," said Todd Gibson, co-founder and Chief Executive Officer of Yerbaé. "Surpassing our entire net revenue for 2022 in just the first half of 2023 showcases the dedication of our team, the appeal of our products, and the trust that our customers place in us. Our team remains committed to meeting and exceeding the expectations of our customers and delivering consistent growth for our shareholders."
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About Yerbaé Brands Corp.
Founded in 2017 by Todd Gibson and Karrie Gibson, Yerbaé Brands Corp., (TSX-V: YERB.U; OTCQX: YERBF) is disrupting the energy beverage marketplace with great tasting, zero sugar, zero calorie beverages, while using plant-based ingredients that are designed to meet the needs of the wellness forward consumer. Harnessing the power of nature, Yerbaé's celebrity ingredient (Yerba Mate) is known to produce 196 different vitamins, minerals and nutrients that also produces caffeine.
By combining Yerba Mate, a South American herb with its premium ingredients and flavors, Yerbaé provides consumers with a no compromise energy solution. All Yerbaé energy beverages are zero calorie, zero sugar, non-GMO, and gluten free.
Find us @DrinkYerbaé on Instagram, Facebook, Twitter and TikTok, or online at https://yerbae .com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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1 "TL US MULO- YTD," SPINS LLC (Week ending July 2, 2023.) |
Contacts
For media inquiries, pr@Yerbae.com or (480) 471-8391
For investors, investors@Yerbae.com or (480) 471-8391
