Edible Garden reports Q4 EPS (54c) vs. ($9.13) last year

Reports Q4 revenue $4.1M vs. $3.1M last year. Jim Kras, Chief Executive Officer of Edible Garden, commented, “We are extremely pleased to report a 21.6% increase in our annual revenue for 2023, as well as a notable 32.8% increase year-over-year for the fourth quarter of 2023. We believe this significant growth reflects the strength of our relationships with major retailers and the trust our customers place in our quality products. We continue to be a leader in our industry, in terms of both service and reliability, and more retailers are turning to Edible Garden for their organic and sustainable product needs. Additionally, by investing in our infrastructure and refining our patented data analytics capabilities, we continue to identify additional opportunities to boost profit margins. The prudent management of our business is reflected in the increase in our gross profit by 270 basis points in 2023 and in the 767 basis point improvement in our operating margin.”