Edible Garden AG Incorporated (NASDAQ:EDBL) Q3 2023 Results Conference Call November 13, 2023 8:00 AM ET Company Participants Ted Ayvas - Investor Relations Jim Kras - Chief Executive Officer Mike James - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group Operator Greetings, and welcome to the Edible Garden Third Quarter 2023 Business Update Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your ho ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 85-05587 ...

Edible Garden AG Incorporated (NASDAQ:EDBL) Q2 2023 Earnings Conference Call August 10, 2023 8:00 AM ET Corporate Participants Ted Ayvas - Investor Relations Jim Kras - Chief Executive Officer Mike James - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group Operator Greetings, and welcome to the Edible Garden Second Quarter 2023 Business Update Conference Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the formal p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 85-0558704 (I ...

For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 85-0558704 ( ...

Financial Data and Key Metrics - Revenue for Q4 2022 was $3.1 million, a 10% increase compared to $2.8 million in Q4 2021 [21] - Full-year revenue for 2022 was $11.6 million, a 10% increase from $10.5 million in 2021 [24] - Cost of goods sold for Q4 2022 was $3 million, up from $2.8 million in Q4 2021, driven by higher packaging and labor costs [22] - Net loss for Q4 2022 was $3 million ($9.31 per share), compared to a net loss of $2.1 million ($12.76 per share) in Q4 2021 [23] - Full-year net loss for 2022 was $12.5 million ($48.68 per share), compared to a net loss of $5.5 million ($39.28 per share) in 2021 [26] Business Line Data and Key Metrics - The company introduced complete salad kits in Q4 2022, which were well-received and are expected to expand to other regions [11][38] - Acquired the Pulp line of gourmet sauces and chili-based products, marking entry into the global sauces and condiments market, projected to grow from $172.8 billion in 2021 to $240.7 billion by 2028 [12] - Pulp products will launch at Whole Foods Markets in Mid-Atlantic and Southeastern regions starting summer 2023 [13] Market Data and Key Metrics - Distribution network expanded to over 4,000 stores, primarily concentrated in the Northeast, Midwest, and Southeast [29] - Added Morton Williams Supermarkets to the Northeast distribution network and expanded with Gristedes and D'Agostino markets in New York [14] - Achieved a fill rate exceeding 100% with one of the country's largest supercenter operators during the holiday season [16] Company Strategy and Industry Competition - The company aims to achieve positive cash flow in 2023, driven by the operationalization of the Heartland Midwest facility and higher-margin products [9][49] - Focus on sustainability through the Zero-Waste Inspired mission, resonating with environmentally conscious consumers and distribution partners [10][19] - Research partnership with the New Jersey Institute of Technology, USDA, and EPA to explore nanobubble technology for sustainable agriculture [18][50] Management Commentary on Operating Environment and Future Outlook - Management highlighted resilience in a challenging economic climate, with stable pricing and exceptional customer service contributing to competitive advantage [8] - The company expects margin improvements once the Heartland Midwest facility is fully operational [9] - Management is optimistic about the potential of the Pulp product line and its impact on revenue in the second half of 2023 [43] Other Important Information - The company completed a $10.2 million offering in February 2023 to fund business expansion [27] - Recognized as one of the top agro food tech companies globally in the FoodTech 500 rankings [20] Q&A Session Summary Question: Distribution network and store count plans for 2023 [29] - Currently in over 4,000 stores, primarily in the Northeast, Midwest, and Southeast - Plans to expand distribution with major retailers and regional chains Question: Status of the Grand Rapids greenhouse and USDA organic certification [30][32] - Final stages of bringing the greenhouse online, expected within 30 days - USDA organic certification is completed and awaiting final approval Question: Impact of the Grand Rapids facility on contract growers and margins [33] - The facility will allow the company to offset higher costs from contract growers and improve margins through vertical integration Question: Reception of new salad kits and expansion plans [38] - Salad kits have been well-received, with plans to expand distribution to other regions and introduce new varieties Question: Product pipeline and innovation [39] - Constant innovation is a key differentiator, with new products like Pulp and alternate proteins in development Question: Revenue impact of the Grand Rapids facility and capital sufficiency [41][42] - Immediate impact on margins and profitability, with the goal of achieving cash flow positivity in 2023 - Current capital is sufficient to reach profitability Question: Revenue impact of the Pulp product line in 2023 [43] - Expected to contribute significantly in the second half of 2023, with POs already in place from Whole Foods Question: Future expansion plans post-Grand Rapids facility [44] - Focus on achieving cash flow positivity before considering further expansion, with a preference for retrofitting existing facilities Question: Path to positive cash flow in 2023 [49] - Driven by the operationalization of the Grand Rapids facility and higher-margin, shelf-stable products Question: Partnership with NJIT, USDA, and EPA [50] - Research on nanobubble technology to improve plant growth, yield, and sustainability, funded by the EPA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) Delaware 85-0558704 (State or other jurisdiction of incorporation or organization) (I.R.S. E ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) 85-0558704 (State or other jurisdiction of incorporation or organization) (I.R.S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) | --- | |-----------------------------------------| | Delaware | | | | (State or othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other incorporation or organization) Delaware jurisdictionof 85-0558704 (I ...