BEND, Ore. - BranchOut Food Inc. (NASDAQ: BOF), a food technology company specializing in dehydrated fruit and vegetable products, announced its preliminary gross revenue for the fourth quarter ended December 31, 2023. The company reported a significant increase, with Q4 2023 gross revenue reaching approximately $1.6M. This figure represents a 43% rise from the third quarter's gross revenue of $1.1M and an over 80% increase from the full year 2022 gross revenue of approximately $888,000.
Eric Healy, CEO of BranchOut Foods, expressed optimism about the company's performance, stating, "BranchOut had a great fourth quarter with preliminary revenue nearly double all of last year's revenue." Healy attributed the revenue growth to the company's expansion of its customer base and hinted at continued growth and improved gross margins for 2024. "With ongoing expansion of our product lines and customer base, BranchOut Food looks forward to another record year," he added.
BranchOut Food's proprietary GentleDry Technology, protected by more than 17 patents, is credited for preserving up to 95% of the nutrition found in fresh fruits and vegetables. This technology has positioned the company as a leading provider in the dehydrated food market.
The company's forward-looking statements suggest confidence in its operational strategies and business prospects. However, these statements are subject to risks and uncertainties that could impact actual results. Investors are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of their date.
The information disclosed in this article is based on a press release statement from BranchOut Food Inc.
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