Innovative Food Holdings Reports Strong Q4 2024 Results

The latest update is out from Innovative Food Holdings ( (IVFH) ).

Innovative Food Holdings reported its financial results for the fourth quarter and fiscal year 2024, showing significant progress in its strategic plan. The company achieved a revenue of $72.1 million for the year, with organic revenue growth of 11.4% despite divestitures. Key developments included the addition of new distributor partners, a large retail customer, and two acquisitions, which contributed to a 19.2% revenue increase in Q4 2024. The company also improved its GAAP net income by $6.2 million to $2.5 million for the year, with adjusted EBITDA rising by 18.5% to $3.2 million. Despite a decline in gross margin, the company reduced SG&A expenses and emphasized its growth potential through new business ventures and partnerships.

More about Innovative Food Holdings

Innovative Food Holdings, Inc. is a national seller of gourmet specialty foods, providing access to unique and trending foods for professional chefs across the United States. The company connects artisan food makers with top chefs, offering a curated marketplace that enhances culinary experiences.

YTD Price Performance: 10.42%

Average Trading Volume: 45,601

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $106.7M

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