Goodfood: Reports Fiscal Year and Fourth Quarter 2024 Results

Montreal / CA. (gfc) Goodfood Market Corporation, a leading Canadian online meal solutions company, announced financial results for the fourth quarter and Fiscal 2024, ended September 07, 2024. «Our full-year results demonstrate the strength of our financial performance in Fiscal 2024, with record adjusted free cash flow of USD 8 million and a gross margin surpassing 41 percent,» said Jonathan Ferrari, Chief Executive Officer. «Focused execution on operational efficiency, disciplined cost management and unit economics improvement have driven record adjusted Ebitda of USD 9 million for the year. With improved cash flow and profitability, we have in turn significantly reduced our net debt and net leverage, enhancing our financial position. The margin improvement and resulting higher cash flows cement our focus on continuing to strengthen our performance to deliver improved profitability and value to our shareholders.

«These results are also a testament to the dedication and commitment of the entire Goodfood team throughout the year. Every employee has worked with determination to help further solidify our balance sheet and position us well to expand our market reach, innovate our product offering, and maintain our focus on delivering value to customers across Canada. With the recent launch of our Value Plan containing delicious classic recipes under USD 10 per serving, and with new collaborations with renowned chefs, our teams are creating delightful new meals for every Canadian, every day. The recently announced acquisition of Genuine Tea also marks the beginning of our new phase of growth, consisting of building a portfolio of next-generation businesses and brands by providing direct-to-consumer entrepreneurs with a platform to scale. We are pleased to have added a high-potential brand that aligns with our growth strategy and deepens customer engagement and look forward to building on this first acquisition,» concluded Jonathan Ferrari. For additional information please read the Company’s PDF file below (249 KB):