Core Insights - Edible Garden AG Incorporated has received a grant from the Going PRO Talent Fund to enhance workforce development and training initiatives [1][2] - The funding will support training in quality control, facilities management, and production oversight, as well as on-the-job training for new hires [2] - The company aims to optimize supply chain management and operational excellence through its proprietary GreenThumb greenhouse technology [2][3] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [3] - The company operates state-of-the-art greenhouses in New Jersey and Michigan, and has a network of contract growers near major U.S. markets [3] - Edible Garden's proprietary technologies include GreenThumb software for optimizing growth and self-watering displays to enhance plant shelf life [3] Product Offerings - The company offers a range of products including plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands [3] - Edible Garden also features a line of sustainable food flavoring products, including Pulp gourmet sauces and chili-based items [3]

Core Insights - Edible Garden AG Incorporated has received a grant from the Going PRO Talent Fund to support workforce development at its Heartland facility in Grand Rapids, Michigan [1][2] - The grant will fund training in quality control, facilities management, and production oversight, enhancing employee skills and supporting internal growth [2] - The initiative aims to optimize supply chain management and improve operational efficiency using proprietary GreenThumb technology, which has already led to increased shipping and fill rates [2] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [3] - The company operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, with a network of contract growers near major U.S. markets [3] - Edible Garden utilizes patented technologies, including GreenThumb software and self-watering displays, to enhance plant shelf life and reduce food miles [3]

Core Viewpoint - Edible Garden AG Incorporated has entered into an agreement with an institutional investor to exercise 8,330,000 Class B Warrants, generating approximately $2.8 million in net proceeds for the company [1][2]. Group 1: Warrant Exercise Agreement - The institutional investor will exercise 8,330,000 outstanding Class B Warrants at an exercise price of $0.36 per share [1]. - The exercise of these warrants will result in the issuance of new Class A and Class B Warrants, each allowing the purchase of up to 8,330,000 shares of common stock at the same exercise price of $0.36 per share [3]. - The new Class A Warrants will expire five years from issuance, while the new Class B Warrants will expire eighteen months from issuance [3]. Group 2: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [7]. - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [7]. - Edible Garden utilizes patented technologies such as the GreenThumb software and self-watering displays to enhance its farming efficiency and sustainability [7].

Financial Performance - Gross profit for the first nine months of 2024 surged by $1.7 million, a 324% increase compared to the same period in 2023[1] - Gross profit margin expanded by 27% in Q3 2024 compared to Q3 2023[2] - Revenue for Q3 2024 was $2.6 million, down from $3.3 million in Q3 2023 due to the strategic shift away from lower-margin products[4] - Net loss for Q3 2024 was $2.1 million, an improvement from a net loss of $2.4 million in Q3 2023[7] - Revenue for Q3 2024 was $2.584 million, a decrease of 21.4% compared to $3.289 million in Q3 2023[17] - Gross profit for Q3 2024 was $699 thousand, a significant increase from $12 thousand in Q3 2023[17] - Net loss for Q3 2024 was $2.063 million, an improvement from $2.431 million in Q3 2023[18] - Revenue for the nine months ended September 30, 2024, was $9.985 million, slightly higher than $9.965 million in the same period in 2023[17] - Gross profit for the nine months ended September 30, 2024, was $2.289 million, up from $540 thousand in the same period in 2023[17] - Net loss for the nine months ended September 30, 2024, was $7.972 million, compared to $5.948 million in the same period in 2023[18] - Selling, general, and administrative expenses for Q3 2024 were $2.189 million, down from $2.387 million in Q3 2023[17] - Interest expense, net for Q3 2024 was $409 thousand, significantly higher than $57 thousand in Q3 2023[17] - Weighted-average number of common shares outstanding for Q3 2024 was 3,160,392, up from 175,762 in Q3 2023[18] - Net loss per common share for Q3 2024 was $0.65, compared to $13.83 in Q3 2023[18] Product Sales and Market Growth - Cut herbs sales increased by 55% year-over-year for the first nine months of 2024[2] - The Pulp Flavors line of gourmet sauces experienced sales growth in Q3 2024, supported by an expanded distribution network[2] - The global sauces and condiments market is projected to grow from $172.79 billion in 2021 to $240.7 billion by 2028[3] - The global sports nutrition market is projected to grow from $54.8 billion in 2023 to $103.3 billion by 2032[3] Funding and Grants - The company raised approximately $5.65 million in gross proceeds through a September S1 offering, with $3.2 million allocated to pay down debt due in 2025[2] - The company received grants from the USDA Organic Certification Program to support organic certification and R&D for new organic product innovations[3]

Core Insights - Edible Garden AG Incorporated reported a 51% year-over-year increase in preliminary sales results for the Thanksgiving period, indicating strong demand for its fresh, sustainable products [1][2] - The company maintains an industry-leading fulfillment rate exceeding 98%, which is a key factor in its operational success and customer satisfaction [2][5] - Edible Garden operates over 5,000 stores in the U.S. and is recognized for its innovative practices in controlled environment agriculture (CEA) and sustainability [3] Sales Performance - The sales increase reflects results for the weeks of November 8-24, 2024, compared to the same weeks in 2023 [4] - The company attributes its sales growth to a focus on its complete herb line and core strengths, enhancing its market position [2] Operational Excellence - The fulfillment rate is defined as the percentage of orders filled in full relative to total orders received, serving as a critical performance metric for the company [5] - Edible Garden's commitment to quality and dependability strengthens relationships with retail partners and enhances its distribution network [2] Company Overview - Edible Garden is a leader in CEA, offering locally grown, organic, and sustainable produce, and operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan [3] - The company utilizes patented technologies such as GreenThumb software and self-watering displays to optimize production and reduce environmental impact [3]

Company Overview - Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce and products [4] - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [4] - Edible Garden's products are available in over 5,000 stores across the U.S., disrupting the CEA and sustainability technology movement with innovative farming protocols and sustainable packaging [4] Product Offerings - The company will showcase its full range of USDA Organic herbs and produce at the 2024 New York Produce Show and Conference, including the introduction of its Pickle Party kosher, Non-GMO product line [1] - Edible Garden is known for its innovative approach to fresh condiments, with product lines such as Pickle Party, Pulp, and Squeezables, which are designed to meet the growing consumer demand for clean-label, functional foods [1][3] - The Pickle Party kosher pickles are crafted in collaboration with the Hermann Pickle Company, known for its exceptional fermented food products [3] Market Position and Growth Potential - The fresh condiments market is projected to grow from $172.8 billion in 2021 to $240.7 billion by 2028, indicating significant growth opportunities for Edible Garden [3] - The company aims to lead the evolution of the fresh condiments category by offering healthier, more flavorful options that align with consumer wellness goals [3] - With scalable production capabilities and strong partnerships, Edible Garden is well-equipped to expand its reach nationwide, bringing bold flavors to consumers across the U.S. [3]

Core Insights - Edible Garden AG Incorporated has appointed Dario Pressimone as Vice President of Digital and E-Commerce to enhance its digital marketplace presence and customer engagement [1][3][4] Group 1: Leadership Appointment - Dario Pressimone brings over 20 years of experience in digital marketing and e-commerce, having previously worked with major retailers like Macy's and Bed Bath & Beyond [2] - His role will focus on leading Edible Garden's e-commerce and digital marketing initiatives, aiming to expand the company's online presence [3] Group 2: Strategic Vision - The CEO of Edible Garden, Jim Kras, emphasized that Dario's expertise in digital marketing and e-commerce strategies is crucial for the company's growth in an online-driven marketplace [4] - Dario's leadership is expected to drive sales growth through data-driven insights and innovative digital campaigns, particularly in launching consumer-packaged goods on platforms like Walmart Marketplace and Amazon [4] Group 3: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), offering locally grown, organic, and sustainable produce available in over 5,000 stores across the U.S. [5] - The company utilizes patented technologies such as GreenThumb software and self-watering displays to optimize production and enhance product shelf life [5]

Edible Garden AG Incorporated (NASDAQ:EDBL) Q3 2024 Earnings Conference Call November 13, 2024 8:00 AM ET Company Participants Ted Ayvas - Crescendo Communications, IR Jim Kras - Chief Executive Officer Kostas Dafoulas - Interim Chief Financial Officer Conference Call Participants Anthony Vendetti - The Maxim Group Operator Good morning. And welcome to the Edible Garden AG Incorporated’s 2024 Third Quarter Business Update. At this time, all participants have been placed on a listen-only mode and we will ope ...

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, 2024 ☐ 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 85-0558704 (State or other jurisdiction of incorporation or organizatio ...

BELVIDERE, NJ, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that the Company has received grants from the United States Department of Agriculture Organic Certification Program administered by the Farm Service Agency. These funds are designated to reimburse organic producers and handlers with financial ...