Stable Gross Margins Amid Revenue Decline
Despite a nearly 6% revenue decline, gross margins remained stable at 41.6%, attributed to disciplined cost management.
Upcycled Certified Program Growth
The Upcycled Certified program continued to be the fastest-growing service, with total certifications growing 70% year-over-year in 2024 and 10% in the first quarter of 2025.
Expansion of Retail Labeling Program
The company announced the addition of two prominent retailers to its fee-based retail labeling program, with an initial launch in approximately 20 stores and potential expansion to hundreds more.
High Customer Retention Rates
Customer retention rates remained strong, always in the high 90% range, despite industry challenges.