|Over a week ago|
NewAge closes acquisition of Japan-based Aliven » 06:1106/0306/03/21
NewAge announced that it…
NewAge announced that it acquired the business of Japan-based Aliven, which is expected to add over $20M in net revenue and more than $3M in annual EBITDA to one of NewAge's largest core global markets. Established 15 years ago, Aliven, Inc. is one of the Japan's most well-respected companies in the industry and sells a portfolio of differentiated healthy products including Skin Care Products infused with cultured stem cells, Nutritional Products, and their patented Invel Far-Infrared Technology Products that were demonstrated in human trials to stimulate nitric oxide production for increased blood flow and muscle recovery and reduction of localized pain.
|Over a month ago|
NewAge reports Q1 revenue $125.5M, two est. $119.95M » 07:3005/1005/10/21
Net loss from operations…
Net loss from operations improved $6.9 million to $3.5 million compared to a loss of $10.4 million in the first quarter of the prior year. Adjusted EBITDA1 increased $9.7 million versus the three months ended March 31, 2020 reaching positive $2.9 million compared to a loss of $6.8 million in the prior year period. Brent Willis, Chief Executive Officer of NewAge commented, "The first quarter saw accelerated top and bottom-line results as we focused on converging ARIIX and driving organic growth within our direct/social selling division. This on-trend, direct-to-consumer route to market is led by our hundreds of thousands of exclusive global Brand Partners using our social selling technology to disrupt the industry. Our direct/social selling business experienced a year-over-year sales increase of 128% in the quarter, fueled by record growth in Western Europe, Mexico and the United States. Along with the double-digit organic growth we are experiencing, we believe we are also well positioned financially to pursue additional industry consolidation that will positively benefit our shareholders. We have entered into a letter of intent to acquire Aliven in Japan, which is expected to further our momentum and immediately return positive EBITDA in this core market for NewAge. Given the global shift in consumer behavior, we believe the NewAge Social Selling Network coupled with our direct route-to-consumer market is the winning model within the consumer packaged goods industry. We intend to continue to expand that model throughout 2021, deliver further cost synergies accruing from the ARIIX acquisition, and pursue strategic acquisitions and collaboration opportunities that will drive value for all of our value-added stakeholders. Our first quarter results exceeded our internal expectations as we continue to make significant progress converging our companies and capturing both revenue and cost synergies. Carrying this momentum forward, we expect continued strong results from operations in the second quarter and throughout the year as we build out additional platforms and programs for our global sales force. We believe we are stronger and better positioned than we have ever been, with differentiated health and wellness brands and an on-trend direct route-to-market, led by an army of more than 400,000 micro influencers and Brand Partners," concluded Mr. Willis.
NewAge announces record pace for growth in Europe » 07:1704/3004/30/21
NewAge announced record…
NewAge announced record net revenue growth in Europe, record numbers of new Brand Partners joining the company, and record attendance at their virtual events, with more than 18,000 current and prospective Brand Partners participating in their most recent outing. NewAge has been experiencing accelerated organic growth building on the success of the merger. NewAge Europe, under the leadership of Region President Cameron Bott has been experiencing triple-digit organic growth closing out 2020 and has been carrying forward the success into 2021. Tens of thousands of new Brand Partners have joined the company just in the past few months in the key Western European focus markets of France, Italy, Spain, Belgium, and the UK. Additionally, tens of thousands of new customers have become recent subscribers to NewAge's portfolio of healthy products. NewAge recently created online interactive technology platforms that now enable the company's virtual events to be broadcast real-time across 12 different languages.
|Over a quarter ago|
NewAge files to sell 21.95M shares of common stock for holders 17:2803/1803/18/21
NewAge launches Lucim Mineral Sunscreen SPF 30 » 07:2303/1803/18/21
NewAge announced the…
NewAge announced the launch of the new Lucim Mineral Sunscreen SPF 30. Formulated without the use of chemical UV filters, fragrances, parabens, phthalates and nanoparticles, NewAge's sunscreen is kid safe, reef safe, non-toxic, and one of the most advanced sunscreens available worldwide. NewAge's Lucim branded skincare was launched in Q4 of 2020 and is now sold in more than 10 countries worldwide.
NewAge delays filing 10K report » 17:1203/1603/16/21
The company states:…
The company states: "NewAge is unable to file its Annual Report on Form 10-K for the year ended December 31, 2020 within the prescribed time period without unreasonable effort and expense. The company requires additional time to finalize its financial statements to be filed as part of the Form 10-K. The company currently expects to file the Form 10-K prior to the end of the 15-day extension period."
NewAge reports Q4 revenue $90.4M, consensus $81.02M » 07:0403/1603/16/21
Reports Q4 net loss $4M…
Reports Q4 net loss $4M vs. net loss of $65.8M last year. Brent Willis, Chief Executive Officer of NewAge commented, "2020 was another transformative year for NewAge, whereby we reached nearly half a billion dollars in pro forma revenue and achieved positive adjusted EBITDA in the fourth quarter, and we believe we are just getting started. Beyond the scale and profitability benefits that came with ARIIX and the four other companies that merged with us in November, we significantly strengthened our management teams and execution capabilities, and as a result are seeing excellent organic growth momentum in 2021. We are seeing record growth in Western Europe, the U.S., and Mexico, and are now seeing resurgence in both China and Japan in Q1 2021. The recently announced letter of intent to acquire Aliven in Japan, will add further momentum in this highly profitable core market for NewAge. We continue to make substantial progress on converging our companies and capturing cost synergies and are ahead of schedule on capturing our $20 million target. This will further add to the bottom line, on top of the benefits that accrue from the disposition of BWR. We believe our social selling focus and direct route-to-market is both pandemic and recession resilient, and we are beginning to see the benefits of our business model. During the remainder of 2021 we will continue pursuing our key strategies of: converging with ARIIX and reducing costs; enhancing our social selling platform; driving organic growth by focusing on key geographic regions; and pursuing strategic acquisitions and collaboration opportunities that will drive value for all of our stakeholders."
NewAge appoints Carin Casso Reinhardt as CPO » 07:0703/0503/05/21
NewAge announced that it…
NewAge announced that it is making changes to its senior leadership team. As part of the changes Carin Casso Reinhardt, will be joining as chief people officer, and Gregory Gould will be transitioning from the Company between now and July 2, 2021. Most recently she was the CHRO for the National Renewable Energy Laboratory, a research, sciences, and engineering organization with more than 3,000 employees across more than 70 countries.
NewAge's LOI to acquire Aliven strengthens Buy thesis, says Roth Capital » 09:3203/0403/04/21
Roth Capital analyst…
Roth Capital analyst David Bain notes that NewAge has announced an executed letter of intent to acquire Aliven, a Japan-based direct selling company, strengthening his Buy thesis. Aliven is expected to add per annum revenue/EBITDA of about $20M/$3M, Bain adds. The analyst has a Buy rating and a $5 price target on the shares.
NewAge enters LOI to acquire Japan-based Aliven for approx. 1M shares » 07:2603/0403/04/21
NewAge announced that it…
NewAge announced that it has entered into an agreement to acquire Aliven Inc., a Japan-based direct selling company. Tokyo-based, Aliven is one of Japan's highly recognized companies in the $16B e-commerce and direct selling industry. Aliven is anticipated to bring approximately $20 million in annualized net revenue and more than $3 million in annual EBITDA to the NewAge Group in Japan that comprises the Morinda organization, ARIIX, and the fast-growing entity ZENNOA. In addition to significant top and bottom-line contribution, Aliven has more than 100,000 customers and independent representatives to add to the group of talented and dedicated leaders at NewAge. NewAge and Aliven have been evaluating a partnership over the past months that culminated in the signing of a letter of intent and an expected signing of a definitive agreement in the coming weeks. Consideration for the acquisition of Aliven is approximately 1M shares of NewAge common stock. Completion of the proposed transaction is subject to negotiation and execution of a definitive agreement and the satisfaction of customary conditions to closing.