Montreal / CA. (gfc) Goodfood Market Corporation, a leading Canadian online meal solutions company, announced financial results for the third quarter of Fiscal 2024, ended June 01, 2024.
«The third quarter of Fiscal 2024 proved operationally strong again as we generated net income and consistent Adjusted Ebitda and Adjusted Free Cash Flow growth. For the last twelve months, our cash flows provided by operations reached USD 7 million and our Adjusted Ebitda and Adjusted Free Cash Flow reached USD 9 million and USD 8 million, respectively, a testament to our teams’ focus on growing profitability and cash flows. With Adjusted Ebitda positive for the sixth consecutive quarter and Adjusted Free Cash Flow positive for a third quarter in a row, we continue to optimize our capital structure and further de-leverage, with net leverage3 now at a manageable 2.1X, positioning us to consider various capital allocation options as we strive to generate growth and enhance shareholder value,» said Jonathan Ferrari, Chief Executive Officer of Goodfood.
«We are energized by the consistent strengthening of our profitability, cash flows and overall financial position. With our strengthened financial position, we enter the fourth quarter, which is typically marked by a seasonal slowdown in business activity as customers spend more time outside of their homes, with the opportunity to build additional momentum on the implementation of our intrinsic and external growth plan. We are indeed equally as energized by the launch of new value meals which provide our raving fans with more delicious options at various price points, and by the launch of Camp Goodfood, a set of recipes that introduce the joys of cooking to everyone in the family. Combined with more partnerships and Canadian flavor on the menu like the recent collaboration with celebrity chef Laurent Dagenais, our current and future customer-centric initiatives are beginning to show promising results as we enter the home stretch before Fiscal 2025,» concluded Jonathan Ferrari.
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