$NGTF is delivering a very positive year for investors in 2021 and it looks like there is a lot more to come. The recent news gave us a really nice round up of recent milestones:
$NGTF Reported 2021 business highlights, including Increased net revenue over 190% from previous year, a National hotel rollout, Doubling retail points of distribution, an Expanded Board of Directors, and a Strengthened balance sheet. https://finance.yahoo.com/news/nightfood-repo...00539.html
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-
, 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.
$NGTF Reported 2021 business highlights, including Increased net revenue over 190% from previous year, a National hotel rollout, Doubling retail points of distribution, an Expanded Board of Directors, and a Strengthened balance sheet. https://finance.yahoo.com/news/nightfood-repo...00539.html
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-
, 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.
