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Edible Garden AG Inc
Edible Garden AG Inc is a US-based company operating in Food Products industry. The company is headquartered in Belvidere, New Jersey and currently employs 44 full-time employees. The company went IPO on 2022-05-05. Edible Garden AG Incorporated is a controlled environment agriculture (CEA) farming company. The firm uses the controlled environment of traditional greenhouse structures, such as glass greenhouses, together with hydroponic and vertical greenhouses to sustainably grow organic herbs and lettuces. In its hydroponic greenhouse, it grows plants without soil. In addition to using hydroponic and vertical greenhouse systems, it uses a closed loop system in its greenhouses. In closed loop system, drain water is recollected and reused for irrigation. In its closed loop system, it also cycles water back into the system that has been collected through reverse osmosis. The firm has also developed software called GreenThumb that assists in tracking plants through its supply chain. Its products include 10 types of individually potted, live herbs; 10 types of cut single-herb clamshells; two specialty herb; six different types of lettuce; hydro basil; bulk basil; and vegan protein powder.
Edible Garden AG Inc is a US-based company operating in Food Products industry. The company is headquartered in Belvidere, New Jersey and currently employs 44 full-time employees. The company went IPO on 2022-05-05. Edible Garden AG Incorporated is a controlled environment agriculture (CEA) farming company. The firm uses the controlled environment of traditional greenhouse structures, such as glass greenhouses, together with hydroponic and vertical greenhouses to sustainably grow organic herbs and lettuces. In its hydroponic greenhouse, it grows plants without soil. In addition to using hydroponic and vertical greenhouse systems, it uses a closed loop system in its greenhouses. In closed loop system, drain water is recollected and reused for irrigation. In its closed loop system, it also cycles water back into the system that has been collected through reverse osmosis. The firm has also developed software called GreenThumb that assists in tracking plants through its supply chain. Its products include 10 types of individually potted, live herbs; 10 types of cut single-herb clamshells; two specialty herb; six different types of lettuce; hydro basil; bulk basil; and vegan protein powder.
Revenue Growth: Edible Garden reported Q3 revenue of $2.8 million, up 9% year-over-year, driven by the expansion of its shelf-stable product portfolio and stronger branded offerings.
Portfolio Shift: The company completed its exit from floral and lettuce categories, emphasizing higher-margin, nonperishable consumer packaged goods and expanding retail partnerships.
Brand Momentum: Brands like Kick, Sports Nutrition, Pickle Party, Pulp, and Vitamin Whey saw strong growth, with shelf-stable products rising 54% year-over-year.
Margin Pressure: Gross profit fell to $0.3 million from $0.7 million last year due to increased labor, freight, and raw material costs.
Loss Widened: Net loss increased to $4 million from $2.1 million in Q3 2024, reflecting higher operating expenses mainly from acquisitions and investments.
Debt Refinancing: The company refinanced its debt at a lower interest rate, which is expected to decrease annual interest expenses and improve cash flow.
Retail Expansion: New launches at Kroger and The Fresh Market, plus growing Midwest and international partnerships, are broadening market reach.
