Else Nutrition Delivers Strong Financial Results in 1Q2022

The conference call will take place on May 16 at 11 a.m. ET

VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) — OTHER NUTRITION HOLDINGS INC (BABY) (BABYF) (0YL.F) (“Other” or the “Company”) the plant-based nutrition company for babies, toddlers and children, today announced its first quarter 2022 financial results for the period ending March 31, 2022. Financial statements and MD&A are available at SEDAR under the company profile.

First Quarter 2022 Financial Highlights

  • Revenue was $1.6 million, a 26% increase from $1.3 million in 4Q21, driven by the expansion of our toddler products across all channels and the introducing the new line of complete nutritional shakes for children.
  • Sales at Amazon.com increased 40% sequentially from 4Q21, a strong acceleration from prior periods.
  • Else products are now sold in more than 1,300 stores.
  • The cash balance as of March 31, 2022 was $19.8 million (including restricted cash and short-term bank deposit).
  • The Company had no borrowing liabilities as of March 31, 2022.
  • Graduated from the Toronto Stock Exchange.

Recent Business Highlights

  • Expanded US retail presence to over 1,300 stores and continued to increase retail sales velocity. Several retailers have already added the new Kids products to their range.
  • Successfully listed on Walmart.com and Kroger owned online platforms.
  • Following the success of Amazon in the United States, Else has been invited by Amazon EU to launch a unified European account which will allow Else to sell its products in Amazon’s main European markets, including the United Kingdom, Germany , France, Italy, Spain, the Netherlands and Sweden, representing a market of more than 300 million people.
  • Expanded e-commerce and retail distribution of children’s product line to include KeHE, UNFI, Walmart.com, Thrive Market and other channels.
  • Successful launch of its third product, Else™ Toddler Omega Complete & Balanced Nutrition drink on Amazon.com. and on the Company’s online store, followed by retail distribution at select retail outlets.
  • Successful launch of its fourth product, Else™ Super Cereal, without heavy metals. Else Super Cereal, America’s first heavy metal-free cereal brand, was launched on Amazon.com and the company’s online store, followed by retail distribution in select outlets.
  • Acceptance of the Supplemental Nutrition Assistance Program (SNAP) for Else products by Amazon.com.
  • Launched an intensive HCP initiative in the United States that includes a dedicated HCP website and a campaign to reach over 80,000 pediatricians. This effort is led by Mr. Mike Glick, General Manager of Else’ North America, former Senior Director of Pediatric and Adult Nutrition for Abbott.
  • Conducted an independent research survey demonstrating that Else products significantly improved major eating disorders and symptoms in the vast majority of children.
  • Prepared to initiate a clinical study with Children’s Hospital Colorado and Denver School of Medicine to validate the growth benefits of Else’s herbal nutrition product.

Management commentary

Hamutal Yitzhak, CEO of Else Nutrition, said, “We are in the very early stages of a multi-year revenue growth phase as we are positioned to disrupt the $80 billion infant nutrition market. We have set the stage for this performance with thousands of retail outlets, multiple SKUs ranging from 6+ months to 13 year old products, strong distributors and major strategic partners intent on making Else brand a revolutionary protein alternative for babies, toddlers and children. »

“We are seeing a strong acceleration in sales on Amazon.com, driven by new and existing customers. .com passed the 1,000 mark in early April Our retailers are experiencing strong and growing sales momentum for our products, and we are seeing increased restocking at many of these retailers We plan to triple our door count to reach around 4,000 by the end of 2022.”

“In recent months, we have expanded our product offerings, with the launch of our Kids Shakes in 3Q21, and with our Toddler Omega and Super Cereal in 2022. In 2022, our product line will grow to approximately 8-10+ products of 20 SKUs in the We alone.”

“International expansion will be a priority for Else in 2022. In 2Q22, we will launch in Canada through Amazon.ca, our own online store, and at health food and independent retailers, regional grocery stores and drug stores. Additionally, in Q3 we expect to enter the UK and Western Europe via Amazon.We also expect to start selling online in China (Cross Border) in the second half of 2022. We are very confident that this growth rate is sustainable and will continue.”

FDA Update

  • In the fourth quarter of 2021, Else successfully concluded a preclinical safety study of its plant-based infant formula, as part of the marketing of its infant formula.
  • Study results demonstrated proper growth, similar to dairy-based infant formula, in a neonatal preclinical model, which is a key first step on the way with the Food and Drug Administration (FDA) of the United States, as well as with other regulatory authorities, to demonstrate the safety and bioavailability of the nutrients in infant formula and its ingredients. Study results will be presented at two key scientific meetings focused on pediatric nutrition and will be published in peer-reviewed scientific journals. Else is in close communication with the FDA, sharing plans and results to receive guidance throughout Else’s infant formula development process.
  • Else is working on preparations for four clinical studies scheduled for 2022, one major study to gain FDA infant formula approval, and three more to validate the products’ safety, tolerance and hypoallergenicity claims.
  • In 2022, we plan to continue our research activities demonstrating the safety of infant formulas and to provide scientific support for our products, including formulas for additional clinical studies.

Conference call

Hamutal Yitzhak, CEO and Co-Founder, will hold a conference call to discuss the quarterly financial results at 11:00 a.m. (Eastern Time) on May 16, 2022.

Interested parties may listen via live webcast, from the link available in the Investors section of the Company’s website or at https://app.webinar.net/WEmKaEqaJy3.

A replay will be available after the call, on the Investors section of the Company’s website at https://app.webinar.net/WEmKaEqaJy3.

About Else Nutrition Holdings Inc.

Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean, plant-based food and nutrition products for infants, toddlers, children and adults. Its revolutionary plant-based, soy-free formula is an alternative to dairy-based formula’s own ingredients. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan. Else Complete Plant-Based Nutrition for Toddlers was recently ranked #1 Best Seller in the Baby & Toddler Formula category on Amazon. The company recently received the World Plant-Based Award for “Best Alternative Dairy Product” in New York at the World Plant-Based Expo in late 2021. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed on the Toronto Stock Exchange. Stock Exchange under the symbol BABY and is listed on the US OTC Markets QX board under the symbol BABYF and on the Frankfurt Stock Exchange under the symbol 0YL. Else executives include executives from leading infant nutrition companies. Many members of Else’s advisory board have held senior positions at companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition companies, and some of them currently hold various positions in leading medical centers and academic institutes such as Boston Children’s Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children’s Medical Center of Israel, Rambam Medical Center and Technion, Israel and at the University Hospital of Brussels, Belgium.

For more information visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.

Contact with Investor Relations:
Lytham Partners, LLC
Mr Ben Shamsian
New York | Phoenix
Email: [email protected]
Such. : 646-829-9701

Toronto Stock Exchange

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are generally identified by words such as “will” or similar expressions. Forward-looking statements in this press release include statements regarding the expected dates for the filing of the Company’s financial disclosure documents. These forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management’s perception of current conditions and expected future developments, as well as other factors management deems appropriate in the circumstances. No assurance can be given that the foregoing will prove to be accurate. Forward-looking statements made in this press release assume, among other things, the expectation that there will be no supply chain disruptions or failures as a result of COVID 19 and that the manufacturing agreement , brokerage and supply logistics with the Company does not end. Actual results may differ from the estimates, beliefs and assumptions expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


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