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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
good natured Products
good natured Products (GDNP) investor relations material
good natured Products has been delisted
good natured Products Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary28 Aug, 2024
Executive summary
Q2 2024 revenue was $16.0 million, down 13% year-over-year but up 14% sequentially from Q1 2024.
Adjusted EBITDA reached $0.54 million, marking the eleventh consecutive quarter of positive Adjusted EBITDA.
Net loss narrowed to $1.0 million from $3.6 million in Q2 2023, mainly due to improved gross margin and lower SG&A.
Company entered CCAA proceedings to restructure financial affairs, with a stay of proceedings extended to October 25, 2024.
Financial highlights
Variable gross margin was 36.6%, consistent with 36.5% in Q2 2023; gross margin improved to 26.6% from 25.5%.
SG&A expenses excluding one-time and acquisition costs were $2.8 million, down 18% year-over-year.
Cash used in operating activities was $2.5 million, with an ending cash balance of $1.4 million.
Net working capital deficit increased to ($57.8) million, mainly due to reclassification of debt as current.
Total asset to liability ratio was 1.12 as of June 30, 2024.
Outlook and guidance
Focus remains on prioritizing growth-oriented and profitable business groups and identifying transformative initiatives.
Company continues to operate under CCAA protection while pursuing a sale or investment transaction.
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Frequently asked questions
Founded in 1991, good natured Products Inc., together with its subsidiaries, designs, produces, and distributes bioplastics for use in packaging and durable product applications. The company's products are grown from renewable organic resources, primarily corn starch and sugar cane, resulting in a plastic that is 100 percent biodegradable. The company has production facilities in the U.S., Europe, and Asia. It sells its products to various end-user markets; and commercial printing, branding & converting printer companies. good natured Products Inc. is based in Vancouver, Canada.