On Feb 1, 2022, Home Bistro made an important announcement all investors – and potential investors – need to read…
First… they will be changing their fiscal year end from December 31st to October 31.
Why? According to management, this Oct – Oct reporting better matches the business cycle of its current business model.
This means we’re still waiting on Q4 financial results (which have traditionally been the best quarter of the year), but in the meantime…
The Company also reported record revenue of $1.64 million for the ten months ended October 31, 2021 compared to $1.34 million for the twelve months ended December 31, 2020.
Here are some highlights from 2021:
- Transitioned away from shipping frozen meals to delivering fresh meals utilizing “Vacuum Skin Packaging” technology.
- Added five celebrity chefs to its meal delivery platform.
- Strategic acquisition of CA-based “Model Meals” lifestyle prepared meal delivery brand.
- Relocated east coast operations to state-of-the-art South Florida-based food production and fulfillment facility, and now maintains bicoastal operations facilities (Orange County, CA).
- Executed on partnerships with In Good Taste Wines (wine pairings), Perfecting Athletes (high performance meals), Red Velvet (desserts).
- Launch of beta dessert menu item.
Commenting on the Company’s progress, Zalmi Duchman, Home Bistro’s CEO, said:
“Whereas 2020 was the launch year for our unique offering and competitive differentiation, 2021 was the year of execution.
Transitioning to fresh delivered meals was a game changer in terms of food quality, taste, experience and addressing consumer preferences.
We believe 2022 will be the year of significant organic growth and scalability as our platform continues to become more widely recognized.
Further, we have identified several potential strategic acquisitions which could also add substantially to our revenue, product diversification and operationally efficiency.”
What’s their plan to continue to drive growth in 2022?
- The continued addition of celebrity chefs to the platform and significant organic growth and scalability.
- Launch of celebrity chef meals currently in development – Ayesha Curry, Priyanka Naik and Roblé Ali.
- A potential strategic acquisition.
- Launch of In Good Taste Wines and Perfecting Athletes initiatives, and the addition of several more dessert items.
- Potential up-listing of Home Bistro shares to the Nasdaq Market.
Home Bistro is planning a shareholder update call to be scheduled in February. Details will be forthcoming in a future press release.
Considering an Investment in Home Bistro?
Home Bistro currently trades on the OTC Markets under the ticker symbol “HBIS”.
However, our Equifund members have access to their private Regulation A+ offering by going to this page right here.
If you have any additional questions about this offering, be sure to use the Q&A form at the bottom of the offering page.
Your early-stage experts,
Equifund.com
