Better Choice Co Inc. Files Q3 2024 10-Q

TL;DR

**Better Choice Co Inc. Q3 2024 10-Q filed. Financials out.**

AI Summary

Better Choice Co Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Sport Endurance, Inc., is based in Tampa, Florida, and operates in the beverages sector. The filing covers financial performance for the third quarter and the first nine months of the fiscal year.

Why It Matters

This filing provides investors with the latest financial performance data for Better Choice Co Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The risk level is medium due to the nature of 10-Q filings which contain detailed financial information that can significantly impact stock price.

Key Players & Entities

• Better Choice Co Inc. (company) — Filer
• Sport Endurance, Inc. (company) — Former company name
• 2024-09-30 (date) — Reporting period end date
• 2024-11-14 (date) — Filing date
• Tampa, Florida (location) — Company address

FAQ

Key Financial Figures

• $0.001 — nge on which Registered Common Stock, $0.001 par value share BTTR NYSE American

Filing Documents

• form10-q.htm (10-Q) — 993KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 10KB
• 0001493152-24-045248.txt ( ) — 5554KB
• bttr-20240930.xsd (EX-101.SCH) — 47KB
• bttr-20240930_cal.xml (EX-101.CAL) — 67KB
• bttr-20240930_def.xml (EX-101.DEF) — 171KB
• bttr-20240930_lab.xml (EX-101.LAB) — 361KB
• bttr-20240930_pre.xml (EX-101.PRE) — 293KB
• form10-q_htm.xml (XML) — 802KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 4.

Controls and Procedures

Controls and Procedures 28 Part II 1.

Legal Proceedings

Legal Proceedings 30 1A.

Risk Factors

Risk Factors 30 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 3. Defaults Upon Senior Securities 30 4. Mine Safety Disclosures 30 5. Other Information 30 6. Exhibits 31

Signatures

Signatures 32 2 Table of Contents FORWARD-LOOKING This report contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this report are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking "anticipate," "believe," "can," "could," "estimate," "expect," "forecast," "intend," "likely," "may," "outlook," "plan," "potential," "project," "projection," "seek," "should," "will," "would," the negatives thereof and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. They appear in a number of places throughout this report and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, those summarized below: our ability to continue as a going concern; the impact of damage to or interruption of our information technology systems due to cyber-attacks or other circumstances beyond our control;

business

business interruptions resulting from geopolitical actions, including war and terrorism; our ability to successfully implement our growth strategy; failure to achieve growth or manage anticipated growth; our ability to achieve or maintain profitability; the loss of key members of our senior management team; our ability to generate sufficient cash flow or raise capital on acceptable terms to run our operations, service our debt and make necessary capital expenditures; our dependence on our subsidiaries for payments, advances and transfers of funds due to our holding company status; our ability to successfully develop additional products and services or successfully market and commercialize such products and services; competition in our market; our ability to attract new and retain existing customers, suppliers, distributors or retail partners; allegations that our products cause injury or illness or fail to comply with government regulations; our ability to manage our supply chain effectively; our or our co-manufacturers' and suppliers' ability to comply with legal and regulatory requirements; 3 Table of Contents the effect of potential price increases and shortages on the inputs, commodities and ingredients that we require, whether as a result of the continued actual or perceived effects of broader geopolitical and macroeconomic conditions, including the military conflict between Russia and Ukraine; our ability to develop and maintain our brand and brand reputation; compliance with data privacy rules; inflationary pressures; our compliance with applicable regulations issued by the U.S. Food and Drug Administration ("FDA"), the U.S. Federal Trade Commission ("FTC"), the U.S. Department of Agriculture ("USDA"), and other federal, state and local regulatory authorities, including those regarding marketing pet food, products and supplements; risk of our products being recalled for a variety of reasons, including product defects, pa

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Better Choice Company Inc. Unaudited Condensed Consolidated Statements of Operations (Dollars in thousands, except share and per share amounts) 2024 2023 2024 2023 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 11,372 $ 13,117 $ 27,817 $ 32,890 Cost of goods sold 6,854 8,681 17,432 21,625 Gross profit 4,518 4,436 10,385 11,265 Operating expenses: Selling, general and administrative 5,645 7,052 14,703 19,721 Total operating expenses 5,645 7,052 14,703 19,721 Loss from operations ( 1,127 ) ( 2,616 ) ( 4,318 ) ( 8,456 ) Other income (expense): Interest income (expense), net 6 ( 344 ) ( 536 ) ( 952 ) Change in fair value of warrant liabilities — 1,339 — 1,339 Gain on extinguishment of debt and accounts payable 2,645 — 6,206 — Total other income, net 2,651 995 5,670 387 Income (loss) before income taxes 1,524 ( 1,621 ) 1,352 ( 8,069 ) Income tax (benefit) expense ( 2 ) — 3 — Net income (loss) $ 1,526 $ ( 1,621 ) $ 1,349 $ ( 8,069 ) Weighted average number of shares outstanding, basic 2,085,715 703,990 1,257,006 697,271 Weighted average number of shares outstanding, diluted 2,085,715 703,990 1,257,006 697,271 Net income (loss) per share, basic $ 0.73 $ ( 2.30 ) $ 1.07 $ ( 11.57 ) Net income (loss) per share, diluted $ 0.73 $ ( 2.30 ) $ 1.07 $ ( 11.57 ) See accompanying notes to the unaudited condensed consolidated financial statements. 5 Table of Contents Better Choice Company Inc. Unaudited Condensed Consolidated Balance Sheets (Dollars in thousands, except share and per share amounts) September 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 4,743 $ 4,455 Accounts receivable, net 5,726 4,354 Note receivable 1,450 — Inventories 3,930 6,611 Prepaid expenses and other current assets 477 812 Total Current Assets 16,326

View Full Filing

View this 10-Q filing on SEC EDGAR