$NGTF News: Nightfood Reports Fiscal Year 2021

New Post Public Reply Private Reply Replies (0) Message Board
Lee Adams trooperstocks #29010
134
$NGTF News: Nightfood Reports Fiscal Year 2021 Results

Management Believes Company is Well-Positioned to Lead High-Opportunity Consumer Category


Tarrytown, NY, Oct. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Nightfood Holdings, Inc. (OTCQB: NGTF), the better-for-you snack company addressing America’s $50 Billion nighttime snacking problem, yesterday announced its financial results for the Fiscal Year ended June 30, 2021.

The Company reported recent business highlights, including:

Increased net revenue over 190% from previous year. The Company’s net revenue for the fiscal year ended June 30, 2021 was $701,246, exceeding previous estimates, compared to $241,673 for the fiscal year ended June 30, 2020.
National hotel rollout. Nightfood recently announced the completion of a successful retail pilot test of Nightfood ice cream in lobby shop freezers with a leading global hotel chain. The chain reported robust sales during the test period. Rollout logistics and timeline are now being finalized by the hotel chain, and chainwide distribution of Nightfood is expected to begin in the current quarter or in the first quarter of calendar year 2022. Nightfood has engaged iDEAL Hospitality Partners Group to accelerate and support the introduction of Nightfood’s sleep-friendly snacks into additional hotel chains.
Doubled retail points of distribution. In April, Nightfood announced the brand had added distribution in over one dozen Walmart regions, more than doubling the brand’s retail footprint to over 1,500 supermarkets. In addition to those Walmart stores, Nightfood is available in Jewel-Osco, Shaw’s and Star Market (both divisions of Albertson’s), Central Market (a division of H-E-B) , Rouses Markets, Lowes Foods, Market of Choice, Metropolitan Market and other independent chains and retailers.
Expanded Board of Directors. Nightfood appointed venture capitalist Nisa Amoils, Dr. Thanuja Hamilton, a nationally recognized physician and authority in sleep medicine, and consumer goods visionary Tom Morse, co-founder of 5-Hour Energy to the Board of Directors. In addition, Nightfood also retained ice cream industry veteran and CPA Jerry Isaacson significantly strengthening the Company’s expertise in ice cream logistics, manufacturing, and procurement.
Strengthened balance sheet. The Company successfully completed a financing/refinancing round totaling $5,000,000. Funds were used to eliminate all company debt, greatly reduce payables, and support 2021 growth initiatives.
Management Commentary

“I’m proud to share what we’ve accomplished during this transformational year,” commented Nightfood CEO Sean Folkson. “We view the growth in store count, gross sales and net revenue simply as preliminary validators of the importance of nighttime nutrition, which we believe is the next great consumer health category.”

“Nighttime snacking is not going away, it’s hard-wired. The understanding of the bi-directional link between nutrition and sleep quality is growing, and we believe there is increasing interest from both the general public, and some of the largest food and beverage companies in the world. As the category pioneer, our goal is to remain the category leader as it evolves and matures. We believe we’re powerfully positioned to do exactly that and we hope to capture a meaningful portion of the $50 billion spent annually on snacks consumed between dinner and bed.”

“We’re excited about the success of our hotel pilot test, and the enthusiastic response we’re receiving in discussions with additional hotel chains. We believe the hotel vertical can serve as a unique and powerful competitive advantage for the Nightfood brand. We envision leveraging Nightfood distribution in thousands of hotel lobbies to introduce and validate the category of sleep-friendly snacks to consumers, expand from ice cream into additional snack formats, and solidify our valuable position as the pioneer and leader in the billion-dollar snack category we’re projecting.”

Financial Results

Fiscal Year Financial Highlights (twelve months ended June 30, 2021):
Gross sales increased 27% from $878,849 in the year ended June 30, 2020 to $1,117,847 in the year ended June 30, 2021. This was the first year the Company surpassed $1 million in gross sales.

Net revenue increased 190% from $241,673 in the year ended June 30, 2020 to $701,246 in the year ended June 30, 2021.

Loss from operations decreased 8% from $2,723,875 in the year ended June 30, 2020 to $2,509,629 in the year ended June 30, 2021.

Total liabilities decreased by 91% from $5,413,472 in the year ended June 30, 2020 to $462,703 in the year ended June 30, 2021.

Total assets increased by 69% from $932,325 in the year ended June 30, 2020 to $1,572,704 in the year ended June 30, 2021.

Total stockholders’ equity increased from a deficit of $4,481,147 as of June 30, 2020 to $1,110,001 in positive stockholder equity as of June 30, 2021.
About Nightfood: Pioneering the Night Snack Category

Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion. The most popular choices are ice cream, cookies, chips, and candy. Recent research confirms these snacks, in addition to being generally unhealthy, can impair sleep due to excess fat and sugar consumed before bed.

Nightfood is pioneering the category of night snacks. Nightfood ice cream, the brand’s first mainstream product, is uniquely formulated by sleep and nutrition experts to contain less of those sleep-disruptive ingredients, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.

Unlike regular ice cream, Nightfood was formulated to contain more tryptophan, vitamin B6, calcium, magnesium, zinc, prebiotic fiber, and casein protein. It also has less sugar, less fat, and a lower glycemic profile. Because of its great taste and unique nutritional profile, Nightfood has been endorsed as the Official Ice Cream of the American Pregnancy Association and is the recommended ice cream for pregnant women.

The brand won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. Nightfood was also named Best New Ice Cream in the 2019 World Dairy Innovation Awards.

Nightfood ice cream is available in divisions of Walmart, Albertson’s, and H-E-B, as well as many regional supermarket chains and independent retailers, and select hotel locations.

Questions can be directed to investors@Nightfood.com

Management also encourages Nightfood shareholders to connect with the Company via these methods:

E-mail: By signing up at ir.nightfood.com, investors can receive updates of filings and news releases in their inbox.

Telegram: There is now a live, interactive Telegram group which interested parties can join to reach team members and discuss Nightfood. Ask questions, learn more about the company and discuss future prospects. Join the Telegram Group Here: https://t.me/NightfoodHoldings

Forward Looking Statements:

This current press release contains "forward-looking statements. Statements in this press release which are not purely historical (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Media Contact:

Kevin Farrell
Notably
media@Nightfood.com
215-760-7547

Investor Contact:
Stuart Smith
SmallCapVoice
investors@nightfood.com
888-888-6444, x3
Scroll down for more posts ▼

Top 10 Most Recent News Articles

Piramal Pharma FY27 Q2 Results: Robust Growth & Optimism

Updated Category News Views 12

A Solid Performance from Piramal Pharma The numbers are in, and it's looking pretty good for Piramal Pharma Limited this time around. Their second quarter of fiscal year 2027 has seen some fireworks, and I'm not talking about some half-baked confetti deal. We're talking genuine growth and solid metrics here. Revenue and Profit Surge The headline? Revenue jumped a whopping...

Continue Reading
CORE Embraces Tech to Boost Organ Donation Efforts

Updated Category News Views 25

Innovation Meets Organ Donation Out of all the business moves you hear about, this one rings loud because it doesn’t just move the needle on a spreadsheet—it moves the needle on life or death. The Center for Organ Recovery & Education (CORE) is stepping into the future with a high-tech touch to enhance their lifesaving mission. Partnering with InVita Healthcare...

Continue Reading
Anti-Corruption Titans Gather for Key 20-Year IAACA Event

Updated Category News Views 47

Strength in Unity: A Global Anti-Corruption Gathering Here's a scene you don't stumble upon every day: corruption busters from all corners of the globe converging on Marrakech. The International Association of Anti-Corruption Authorities (IAACA) is rolling out the red carpet for its 20th-anniversary conference, a get-together poised to serve up not just pastries and...

Continue Reading
Chemours Faces Class Action over Misleading Guidance

Updated Category News Views 0

Legal Storm Brewing for Chemours Investors Seems like The Chemours Company, trading under NYSE:CC, is in some legal hot water right now. With the calendar quickly flipping towards December 7, investors are fronted with a crucial choice: step up to stake their claim as lead plaintiff in a securities fraud class action lawsuit, or watch from the sidelines. The Allegations...

Continue Reading
Investors Shaken by Better Home’s 28.5% Plunge

Updated Category News Views 32

Pull up a chair, because Better Home & Finance Holding Company (NASDAQ: BETR) just threw its investors into a frenzy. Mayhem hit when their stock nosedived 28.5% on a single day—May 7, 2026. Let’s untangle what happened and why every shareholder should circle November 20 on their calendar. Unpacking the Fall: A Dive Into Hard Truths So, between mid-March and early May...

Continue Reading
CTCA Tackles Trust Issues in $B-illion Card Market

Updated Category News Views 10

Gaps in a Booming Industry Trading cards might sound like kid stuff, but don’t be fooled—there's billions riding on paper and ink these days. Yet, a dark cloud hovers over the trading card scene, where questions of transparency and accountability loom large. Digital repacks and those dicey randomized packs have folks questioning what’s in the mix: Is it a safe bet...

Continue Reading
Beer B Que Music Festival: Hip-Hop, Dancehall & Brews

Updated Category News Views 67

A Melody and Brew-Infused South Florida Celebration Boy, if festivals were stocks, I'd have bought into the Beer B Que Music Festival years ago. This event, rolling into its seventh year, isn't just another line-up of artists—it feels like a genuine cultural reunion for folks in South Florida. You throw in some heavyweight names like Rick Ross and Kodak Black, plus the...

Continue Reading
Infosys Transforms Syngenta's Tech Core to Boost Agility

Updated Category News Views 76

Unpacking the Syngenta-Infosys Transformation Forget your run-of-the-mill tech upgrade; Infosys has just spearheaded a massive transformation for Syngenta, delivering a new global SAP S/4HANA setup that’s set to turbocharge their Crop Protection business. We’re talking about more than just another software upgrade here—this is a sweeping overhaul affecting 10,000...

Continue Reading
Billd's Flex Line: Game-Changer for Subcontractor Credit

Updated Category News Views 77

Billd's Bold Move Across America Forget piecemeal rollouts; Billd's taking their latest brainchild, Flex Line, right into the heart of America's subcontractor landscape. This isn't some flash-in-the-pan financial offering, either—it's a heavy-hitter poised to shake up the way subcontractors wrangle their working capital. We're talking about a line of credit that's as...

Continue Reading
Americans' Faith in Democracy Hits New Lows

Updated Category News Views 73

Polarization Beyond Politics: A National Reckoning When you catch wind of a report like this one, it's enough to make you feel like the fabric of democracy is unraveling right before our eyes. We're staring at a national identity crisis, folks, and it's got nothing to do with whether you're waving a red or blue flag. This ain't about party lines; it's about a bigger,...

Continue Reading

Top 5 Most Recently Viewed Articles

FFB Bancorp Posts $8.56 Million Profit in Latest Quarter

Updated Category News Views 138

FFB Bancorp Reports Strong Financial Growth FFB Bancorp, the parent company of FFB Bank, recently announced a net income of $8.56 million, equating to $2.69 per diluted share for the third quarter of 2024. This represents a 6% increase from the prior quarter's earnings of $8.08 million or $2.54 per diluted share. Notably, the Bank's net income was a robust $8.87 million...

Continue Reading
Allegion's Participation in the Barclays Industrial Conference

Updated Category News Views 219

Allegion to Attend 2025 Barclays Industrial Select Conference Allegion plc (NYSE: ALLE) is set to showcase its forward-thinking strategy at the prestigious Barclays Industrial Select Conference. President and CEO John H. Stone will take center stage, sharing insights into the company’s future direction and innovative approach to security solutions. This important event...

Continue Reading
EO Charging Wins Recognition for Innovative Fleet Solutions

Updated Category News Views 195

EO Charging Honored with Frost & Sullivan Award EO Charging has recently received the prestigious Frost & Sullivan Product Leadership Award for its significant contributions to energy efficiency and reliability in fleet charging and management. This recognition highlights EO's innovative solutions that transform the landscape of electric vehicle (EV) charging for...

Continue Reading
Exploring Veeva Systems: A Decade of Growth and Performance

Updated Category News Views 1052

Veeva Systems: A Decade of Triumph Veeva Systems (NYSE: VEEV) has displayed remarkable growth over the past ten years, consistently outperforming the market averages by an impressive 15.47% annually. Investors have generally enjoyed a substantial average annual return of 28.63%, a testament to the company’s robust business model and strategic foresight. Market...

Continue Reading
Panorama Pathways: Innovating Student Graduation Tracking

Updated Category News Views 178

Introducing Panorama Pathways for Student Success In an exciting step forward for educational technology, Panorama Education has rolled out Panorama Pathways, a groundbreaking tool aimed at increasing on-time graduation rates among students. This innovative product emerged from the company's acquisition of Mesa Cloud in 2023, showcasing their dedication to empowering...

Continue Reading