New Age Beverages Corp (NASDAQ:NBEV) is a healthy functional beverage company situated in Colorado. This company serves as a one-stop-shop solution for distributors and retailers selling healthier beverages. It was today that the company pronounced revenues for the second quarter.
Current state of affairs
The business guru reported revenues amounting to $15.2 million. New Age complains that for over a period of one year it lacked the capital it needed for investing in the various brands. However, the ongoing strong receivables and inventory of about $19 million is quite impressive and it inspires hope.
The Chief Financial Officer Chuck Ence opined, “Despite having continuing negative inventory shortfall impact of $2.7 million, gross revenue still reached $15.2 million in revenue for the quarter. The tangible and intangible issues PNC bank caused us from not closing our initial ABL after committing and approving it have been significant.”
The Colorado-based company intends to become the top-most and most trusted beverage Companies globally. It was today that it outlined its plan to expand to all the Ahold Delhaize outlets spread out across the Eastern Seaboard.
A closer outlook
This company’s Búcha® Live Kombucha performs quite well in the Kombucha segment. In fact, reports show that it is the current leader in the segment. As per this moment, it is the only industry leading brand not requiring refrigeration and also with a 12-month shelf life.
Búcha employs a large-batch proprietary production mechanism that usually hinders secondary fermentation. This unique process makes the brand quite stable and safe. It culminates in lower cost distribution, facilitates off-shelf merchandising as well as off-shelf display.
Ahold Delhaize is one of the giant retailers globally and it achieves sales amounting to almost €62 Billion across 11 countries. It fetches the highest sales volumes from the United States. At the moment, it has plans underway to expand its operations in the entire East Coast.
It expects that soon it will succeed at serving about 23 states from Maine to Georgia. The aggressive expansion and display promotion will help it a huge deal in boosting its financial performance.