Else Nutrition Holdings Inc. (BABYF)报告称，2024年第一季度收入下降，从去年同期的290万美元降至210万美元，主要原因是预期的客户交易推迟完成。尽管收入下降，但该公司强调其在美国和加拿大的零售渠道增长强劲，通过关键合作伙伴关系加强了其影响力。在线销售飙升，尤其是亚马逊(纳斯达克股票代码:AMZN)，在美国和加拿大市场都有显著增长。该公司正在推进其产品线，在澳大利亚推出一款成人饮料和一款植物性婴儿配方奶粉。Else Nutrition正在努力获得美国FDA的批准，并计划在12至18个月内实现正现金流。

　　2024年第一季度的收入从2023年第一季度的290万美元下降至210万美元。

　　美国和加拿大的零售渠道增长强劲，与主要零售商建立了新的合作伙伴关系。

　　o在线销售激增，亚马逊在美国的销售额增长了92%，在加拿大增长了330%。

　　该公司正在扩大其产品供应，包括一个新的成人即饮系列和一个植物酒吧在澳大利亚销售婴儿配方奶粉。

　　Else Nutrition的目标是在12至18个月内实现正现金流目前正在寻求美国FDA的批准。

　　Else Nutrition正在实施积极的营销策略，以推动进一步的增长。

　　该公司预计通过扩大产品供应和品牌知名度来保持盈利能力。

　　为了确保到2025年底有足够的婴幼儿奶粉供应，已与制造商建立了合作关系。

　　由于预期的客户交易延迟，收入下降。

　　在北美市场与主要零售商建立了重要的合作伙伴关系。

　　o在线销售表现出令人印象深刻的增长，亚马逊在美国和加拿大市场的销售额都以三位数的百分比增长。

　　公司正在经历困境Nal供应链延迟。

　　Else Nutrition正专注于扩大零售分销，并加强对食品的销售在线销售。

　　该公司正在TikTok、谷歌(纳斯达克股票代码:GOOGL)和我自己等平台上开展新的营销活动助教(纳斯达克:我助教)。

　　留存营销活动正被新的电子邮件和短信策略彻底改变。

　　与母亲影响者和健康专业人士合作Nals正在增强content创造。

　　这家公司是。有信心在其制造能力和库存计划，以满足需求。

　　他们正在计划通过儿童即饮产品和即将推出的成人即饮产品来增加市场渗透率。

　　尽管收入暂时受挫，但Else Nutrition的战略举措旨在巩固其市场地位。该公司向新产品类别和市场的扩张，加上专注的在线营销方法，使其在不久的将来具有潜在的增长和盈利能力。凭借获得FDA批准的明确途径和积极的现金流，Else Nutrition已准备好实现其目标，并以其创新的植物性营养产品填补市场空白。

　　从最新的财务数据和市场表现来看，爱尔思营养控股有限公司(BABYF)面临着一个充满挑战的时期。根据InvestingPro的数据，该公司的市值为2493万美元，这表明了该公司在当前市场上的规模。尽管该公司正在努力扩大和巩固其市场份额，但InvestingPro的实时指标显示，该公司的市盈率(P/E)为-2.63，这表明投资者预计短期内会出现亏损，而不是盈利。截至2024年第一季度，过去12个月调整后的负市盈率(P/E)比率为-3.13，进一步加强了这一点。

　　此外，该公司的股票在过去一年中经历了明显的下跌，1年的总回报率为-69.76%。这种下降趋势是投资者评估公司股票表现的关键考虑因素。

　　InvestingPro小贴士强调了Else Nutrition关注的几个领域。分析师预计该公司今年不会盈利，而且该公司正在迅速烧钱。这些因素对于投资者在评估公司的财务状况和未来前景时至关重要。此外，由于该公司的估值意味着自由现金流收益率很低，因此人们对Else Nutrition的增长轨迹的可持续性存在疑问。

　　对于那些对更深入的分析感兴趣的人，InvestingPro提供了额外的见解和指标。另外还有12个InvestingPro Tips，可以让您全面了解Else Nutrition的财务和运营状况。希望获得这些建议的读者可以利用独家优惠，使用优惠券代码PRONEWS24，在InvestingPro上获得一年或两年一次的Pro和Pro+订阅额外10%的折扣。

　　综上所述，尽管Else Nutrition正在努力实现正现金流并扩大其产品线，但投资者在做出投资决策之前，必须仔细考虑公司当前的财务挑战和市场估值。

　　接线员:问候。欢迎来到Else Nutrition的第一季度财报电话会议。此时，所有参与者将处于仅听模式。[接线员说明]请注意，本次会议正在录音。现在，我将把会议交给投资者关系部的Alexandra Schilt。Alexandra，你可以开始你的演讲了。

　　Alexandra Schilt:早上好，感谢大家参加Else Nutrition的2024年第一季度财务业绩和业务更新电话会议。今天与我们通话的是Hamutal Yitzhak, Else营养公司的首席执行官。该公司今天(2024年5月15日)发布了一份新闻稿，其中包含其2024年第一季度财务业绩，该业绩也发布在公司网站上。如果您在电话会议结束后有任何疑问或想了解有关公司的任何其他信息，请致电212-671-1020与Crescendo Communications联系。公司管理层现在将提供准备好的评论，回顾截至2024年3月31日的三个月的财务和运营结果。在我们开始之前，我们想提醒大家，今天的电话会议将包含前瞻性陈述，这些陈述是基于当前的假设，并受风险和不确定性的影响，这些风险和不确定性可能导致实际结果与预期存在重大差异，公司没有义务更新这些陈述，除非法律要求。有关这些风险和不确定性的信息包含在公司的文件中，以及向加拿大和美国监管机构提交的定期文件中，您可以在SEDAR和Else Nutrition的网站上找到这些信息。说到这里，我现在把电话交给首席执行官哈穆塔尔。请继续。

　　Hamutal Yitzhak: Thank you, Alexandra, and thanks to everyone for joining us today. I'm proud of our strong start to 2024 with multiple significant retail partner announcements, all of which demonstrate our commitment to supplying dairy- and soy-free alternatives to families around the world. Although we continue to experience temporary timing delays from certain large retailers that impacted our revenue for the quarter, the outlook for the full year is extremely positive and we have received very favorable feedback from both retailers and consumers evidenced by the strong growth in our retail channels and the tremendous growth of our product sales through online channels, which I'll discuss more in a moment. Within our retail channels, we are performing very well in the U.S. and Canada as evidenced by our rapid penetration of major retailers including Giant, Costco (NASDAQ:COST).ca, Metro, Wegmans, Meijer, Big Y, Longo's, H-E-B and more. And by the over 550 increase in store count in Walmart (NYSE:WMT), we are now serving 1,000 stores throughout North America with a nationwide presence in all 50 states of the USA as a national brand. I'm also pleased to report that multiple new and existing retailers are onboarding our kids ready-to-drink shakes in both vanilla and chocolate flavors. Given the fact we only launched this product line late last year, we believe this is a clear evidence of the traction that we are gaining, the increase in brand recognition, as well as the extremely positive consumer feedback given its great taste, high nutritional value and convenient packaging. Many recognizable retailers are bringing our RTD products to their shelves, including Costco Canada, H-E-B, Wegmans, Meijer, Big Y, Metro, Kroger (NYSE:KR), and more, enabling us to provide quality, client-based convenience shakes to families across North America. One of the best indications of the growing consumer demand is the acceleration in our Amazon sales, which grew 92% and 330% within the U.S. and Canadian markets, respectively, compared to the same period in 2023. As I previously discussed in the last call, we are refocusing our efforts on online sales now, now that our retail expansion strategy is well underway and our out of stock issues are behind us. With a growing awareness of our broad product line, we are steadily penetrating the enormous global kids' nutrition market, which is valued at $52 billion globally and $22 billion in North America, expected to reach global revenues of $86 billion by 2030. As a result, we anticipate meaningful revenue growth throughout 2024. Additionally, and as I spoke about in the last call, we are well underway with the development and manufacturing of our adult ready-to-drink product line, which will leverage our growing brand awareness. This is a major milestone as it marks another first-mover product with the first and only whole food complete nutrition drink for adults with added benefit of outstanding texture and taste with limited competition in the categories such as Ensure and Boost. Our new product provides a plant-based, clean label and also delicious alternative, cholesterol-free with low-saturated fat, easy-to-digest, which clearly differentiated from what's out there, positioning us to capture a meaningful share of the multibillion-dollar complete nutrition shakes global market. We anticipate full commercial launch this summer and look forward to mirroring the early success of the kids ready-to-drink product. importantly, we recently announced the highly-anticipated first commercial launch of our groundbreaking plant-based infant formula in Australia. This is a major milestone for the company as well as the industry. For a little bit of background, all infant formulas must meet the human-milk nutritional gold standard. And surprisingly, current core ingredients in infant formula are ultra-processed and often cause problems for children. Dairy formulas, which have about 95% market share, are linked to allergic reactions intolerance in about 40% of the infant population, meaning there is a massive undeserved need in the market. Dairy products may also contain antibiotics, hormones and pesticides and cause major environmental issues. In addition, dairy-based formulas cannot stay in their whole form and must use highly-processed derivatives of the milk. Soy formula, which has about 5% market share, also contains stronger allergens, high levels of phytoestrogens, GMOs, and it cannot stay in its whole form of protein. So, it must be chemically processed. In contrast to dairy and soy formulas, we have developed a plant-based infant formula that is both dairy- and soy-free, meets regulatory standards, and has a desired composition, free of antibiotics, hormones, pesticides, GMOs, and heavy metals. There is zero chemical processing and our product is made with minimally processed whole food ingredients, keeping proteins and other macronutrients intact. Our formula is Clean Label certified and Plant-based certified with various patents protecting our innovative products. The global infant formula market continues to grow and is expected to reach $132.4 billion by 2026. And while consumers are looking for cleaner, more sustainable alternatives, the global plant-based food market is on the rise and is expected to reach $161.9 billion by 2030. We are at the forefront of this movement with our sustainable plant-based alternative infant formula which creates a new market where there are no competitors. As I stated earlier, our first commercial launch was in Australia, which we're very proud of and worked very hard to get here. For the first time in the world, we have implemented our proprietary demineralization process, which enables our formula to reach the required limits of certain minerals to meet the infant formula global regulatory standards. I'd also like to note that we are continuing to work with the FDA to progress towards approval in the U.S. However, as with any regulatory body, even though we're doing everything we can on our end, the timelines and motivations are often outside of our control. Nevertheless, we are extremely excited about this initial launch in Australia as our first market and look forward to bringing an innovative and effective product to the market. We already started selling this follow-on formula product and toddler product on Amazon Australia. And on the healthylife.com.au, this is an e-store, part of the Woolworths Group, which is Australia's largest retailer, another example of our international market expansion and commitment to becoming a recognizable global brand. Before I provide an overview of the financials, I'd like to discuss our manufacturing partners. We have secured three manufacturing partners, two in North America and one in Europe. We also signed an important powder manufacturing agreement as announced during the quarter, which should ensure an adequate supply of powder for our toddler and kids' products through the end of 2025. This is significant given the growing demand we are witnessing for our products. With our secured manufacturing partners, we are able to effectively supply all our retail and e-commerce platforms without worrying about out-of-stock issues that we had encountered in the past. We've also taken steps to ensure that we have adequate inventory and look forward to bringing our growing assortment to millions of families around the world. To support all of our progress, we are now implementing an aggressive marketing program that we believe will aid in gaining additional traction and recognition within the market. For example, we recently hired a new VP of Marketing that brings a tremendous track record and an amazing level of energy. We have also expanded the marketing team, which we believe will help us aggressively grow our brand recognition through traditional earned media [Technical Difficulty] we are making huge strides in terms of product launches, implementing marketing programs, onboarding new retailers as well as securing manufacturers. As a result, we believe we are extremely well-positioned for continued growth throughout 2024 and beyond. Now, I'll briefly review the 2024 first quarter financial results. Revenue for 2024 first quarter was $2.1 million compared to $2.9 million for Q1 of 2023. While we are down compared to the same period last year, as I mentioned earlier, this is primarily attributed to delays in receiving anticipated customers' deals. I'd like to note, there is an increasing demand for our products, and while revenue is down, this does not mean that retailers or consumers are dissatisfied with our product or that orders aren't coming in. We expect the second half of the of 2024 to show meaningful revenue growth as retailers and online distributors make additional orders during the year while new retailers place initial stocking orders, both which will support our growth. importantly, I also mentioned earlier, we are seeing strong revenue growth within the Amazon channel, which increased 92% and 330% within the U.S. and Canada, respectively, compared to the same period in 2023 and increased 13% and 65% within the U.S. and Canada, respectively, compared to the previous period of Q4 in 2023. We are now gearing up our e-commerce platform and have the necessary resources to enhance our growth throughout 2024. Finally, we continue to manage our expenses carefully and believe that by continuing to execute our business strategy, we are well-positioned to accelerate our growth, drive higher margins and achieve sustained profitability. Overall, we are encouraged by the outlook for the business as we continue to execute on our growth strategy including raising product awareness, expanding our retail distribution, renewing our emphasis on our online sales and launching the adult ready-to-drink product line. To support all this, we have strong manufacturing partners with sufficient capacity to support our growth. At this point, I'd like to address questions that come in from investors. Alexandra, please lead the Q&A session.

　　Alexandra Schilt:谢谢你，Hamutal。我们的第一个问题是，你实施了什么营销计划，你希望什么时候看到它们的好处?

　　Hamutal Yitzhak:我们对新的营销努力感到兴奋，并聘请了经验丰富的营销专业人士来协助我们的工作。新员工积极性很高，渴望让Else品牌在市场上更加引人注目。例如，我们增加了一个新的营销副总裁，我在前面提到过。我们还扩大了营销团队。在他们加入后的短时间内，我们已经看到了这些努力产生的有意义的影响。我们正在通过各种计划大幅扩大我们的故事讲述和消费者连接点，包括通过庞大的(看不见的)网络改造我们的联盟营销计划;在TikTok上建立一个有影响力的部落和分支机构，以积极推动新的品牌追随者，并推动我们新成立的TikTok商店的购买;通过在Google和meta上开展有针对性的付费社交和搜索活动，推动消费者需求和品牌知名度，并积极尝试，包括提供优惠，以增加新客户的获取;用全新的电子邮件和短信流程彻底改变我们的留存营销活动，以加强客户依恋、忠诚度和回购率;与新的公关团队建立公关关系，并在主要出版物上进行付费软文广告;我们通过与重要的妈妈影响者、儿科医生、营养学家和注册营养师的独特合作伙伴关系，推动了数百个新内容。

　　Alexandra Schilt:谢谢你，Hamutal。我们的第二个问题，了解到你们已经确定了制造商，你们能确保你们有足够的供应给各种零售商，包括正在增加的在线平台吗?

　　哈穆塔尔·伊扎克:是的，我们对与制造合作伙伴建立的关系感到非常自豪。因此，我们不知疲倦地工作，以确保我们能够有效地为零售商和在线合作伙伴供货。所以，是的，我们非常有信心，我们有足够的制造业供应来支持我们在可预见的未来的增长。我们正在制定一个三个多月的库存计划，以确保——确保这一点。我们可能偶尔会遇到供应链延迟和亚马逊(收货)延迟，但总的来说，这个问题已经过去了。

　　Alexandra Schilt:谢谢。你能提供关于澳大利亚婴儿配方奶粉的初步反馈吗?

　　哈穆塔尔·伊扎克:所以，由于我们刚刚在澳大利亚推出，我们还不能提供真正的反馈，但我们正在填补这个市场上急需的空白，因为在这个市场上，全植物性婴儿配方奶粉没有真正的竞争。

　　Alexandra Schilt:谢谢。你预计什么时候现金流为正?

　　哈穆塔尔?伊扎克:我们正在积极努力实现正现金流，并相信我们可以在12至18个月内实现这一目标。

　　Alexandra Schilt:谢谢。我们什么时候能得到FDA的最新消息?

　　哈穆塔尔·伊扎克:我们正在继续与FDA进行深入讨论，提供所有需要的答案和信息，但我们也提出了一些问题。我们正在努力与他们就最终的临床前研究和配方成分要求保持一致，我们将继续向股东通报最新情况。

　　Alexandra Schilt:谢谢你，Hamital。我们的问答环节到此结束。在这一点上，我将把它交给你做闭幕词。

　　Hamutal Yitzhak:谢谢你，Alexandra。正如我刚才提到的，我们为我们在2024年的良好开端感到非常自豪，我相信我们真的在婴儿、幼儿、儿童以及很快的成人营养方面树立了新的标准。我们相信，我们在市场上获得的吸引力表明，我们需要一种不含乳制品和大豆的替代品。此外，零售商正在继续接受我们的产品上架和在线商店，使我们能够为全球数百万家庭提供产品。我们相信，我们打算利用2024年的许多机会，包括推出成人即饮产品，以及增加去年晚些时候推出的儿童即饮产品的市场渗透率。总的来说，我们相信我们已经为持续的成功做好了准备，并期待着继续为我们的股东执行任务。我还要感谢我们敬业的员工和顾问团队，他们为我们的道路提供了便利，我相信这将取得巨大的成功。感谢大家参加今天的电话会议。

　　接线员:今天的电话到此结束。您现在可以断开电话线了。谢谢你的参与，祝你有一个美好的一天。

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