Strong Revenue Growth
Q4 2024 revenues were $3.6 million, a 149% increase from $1.5 million in Q4 2023.
Increased Royalties
Royalties for Q4 2024 were $642,000 compared to $381,000 in Q4 2023, a 69% increase. Annual royalties reached $2 million, up 34% from 2023.
Improved Gross Margin
Gross margin improved to 40% in Q4 2024 from 29% in Q4 2023.
Positive Adjusted EBITDA
Adjusted EBITDA for Q4 2024 was $450,000, compared to a loss of $324,000 in Q4 2023.
Patent and Legal Success
Successful settlement of civil claim against former employees, and transfer of patents to EnWave.
Strategic Partnerships and Market Expansion
Commissioning of three large-scale REV machines at BranchOut Food's facility and expansion in partnerships with companies like Bounty Fresh, Dole, and Calbee.