Innovative Food Holdings Inc (OTCMKTS:IVFH) is one of the leading players in the end to end DTC e-commerce platform space and also runs a direct to chef platform that provides premium specialty food items.
Trading Data
On Friday, IVFH stock gained 23.35% to $0.3650 with 155k shares, compared to its average Friday of 22K shares. The stock moved within a range of $0.3100 – 0.3870 after opening trade at $0.31.
Innovative Food Holdings, Inc. Reports Financial Results for Fourth Quarter and Full Year of 2021
Last Friday the company was in focus after it announced its financial results for the fourth fiscal quarter and also the full year of 2021. The numbers seem to have come as a source of considerable excitement for investors as the stock move up strongly and ended the day with gains of as much as 23%. It could be a good move to perhaps take a closer look at the highlights.
The company managed to bring in revenues to the tune of $20.8 million in the fourth quarter and that proved to be a new record for quarterly revenues for Innovative Food. It also reflected a year on year rise of as much as 38%.
On the other hand, the revenues for the full year also hit a new record as the company brought in $62.2 million in revenues. The annual revenues shot up by as much as 20% year on year. It may be a good time to start tracking the stock.
Key Quote
“Record fourth quarter and full year revenue reflect the success of the powerful specialty food focused platforms we have created. We experienced strong 72% year-over-year foodservice revenue growth for the fourth quarter, combined with e-commerce growth of 9% for the quarter. Furthermore, we believe our leading digitally enabled, end-to-end ecosystem is unlike any other food focused platform in existence today. As a result, we expect to benefit from the significant organic and M&A opportunities we are pursuing that can leverage our powerful end-to-end e-commerce platform, which includes back-end logistics, fulfillment, and procurement capabilities, as well as our front-end digital infrastructure. We believe this will provide disruptive solutions across the food industry, and accelerate our e-commerce growth in 2022 and beyond,” stated Sam Klepfish, CEO of Innovative Food Holdings.
Technical Data
IVFH stock is trading above the 20-Day and 50-Day Moving averages of $0.32 and $0.33 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.36.
