![]() Hope and Sesame® Sesamemilk continues to win kudos, awards, and build demand as the first of its kind globally and the first new disruptive plant-based milk category, with the potential to shift the global category, just as oat milk did (scaling from $45M to $6B in seven years). "We are focusing our efforts on developing two key brands first: Hope and Sesame® Sesamemilk, and RightRice® High Protein Veggie Rice. Our product demand is scaling rapidly, and management is diligently focused on effectively meeting that demand," continued Ms. "We are also seeing demand scale rapidly for our products - we are successfully hitting the demand ‘flywheel' from consumers, retailers, distributors, and foodservice operators, and our products are validated as right time, right place, right trends. ![]() By mid-2024 we expect that our results will reflect the combination of margin improvements and cost reductions that can return ongoing profitability." Given the magnitude of the shift in a short period of time, charges and costs related to these changes will be absorbed throughout 2023, including the costs of exiting discontinued products and reduced topline revenue while we shift focus to high-velocity, high-profitability, low-investment channels like Foodservice. "We are well on track to turning the corner on profitability by the end of Q2 2024, and our Q3 2023 results reflect achievements towards that goal. "In the first half of 2023, we realigned our strategy with capital markets expectations and focused on increasing bottom line profitability, with the goal of achieving ongoing profitability on a solid recurring revenue base within six quarters," said Julia Stamberger, CEO and Co-Founder, Planting Hope. ![]() ( TSXV:MYLK)( OTCQB:MYLKF)( FRA:J94) (" Planting Hope" or the " Company"), a dynamic Foodtech innovation company dedicated to creating breakthrough delicious, sustainable food and beverage solutions through cutting-edge ingredient, formulation, and packaging technology, is pleased to report financial results for the three months ended September 30, 2023. These significant improvements can be attributed to management's adherence to the Company's strategic plan and focus on its path to profitability.ĬHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / Novem/ The Planting Hope Company Inc.
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