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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.
IBI Group
IBI Group (IBG) investor relations material
IBI Group has been acquired by Arcadis NV
IBI Group Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary15 May, 2025
Executive summary
Innovation Beverage Group Limited (IBG) reported FY2024 revenue of $2.93M, down 7% year-over-year, mainly due to ceasing low-margin U.S. wine e-commerce sales; Australian Bitters Company (ABC) brand accounted for 98% of revenue.
Net loss widened to $2.57M from $2.01M in 2023, driven by higher operating expenses, asset write-offs, and IPO-related costs.
Gross margin improved to 76% from 65% in 2023, reflecting the exit from low-margin wine sales and focus on high-margin bitters.
IBG completed its IPO in September 2024, raising $5.4M gross proceeds and listing on Nasdaq under the ticker "IBG."
Financial highlights
Revenue: $2.93M in 2024 vs. $3.15M in 2023 (-7% year-over-year).
Net loss: $2.57M in 2024 vs. $2.01M in 2023.
Gross margin: 76% in 2024, up from 65% in 2023.
Operating expenses: $5.43M in 2024, up from $4.19M in 2023, including $612K asset write-off and $346K IPO-related non-recurring costs.
Cash and cash equivalents: $620K at year-end 2024, up from $14K in 2023.
Working capital: $310K at December 31, 2024.
Outlook and guidance
Management expects continued growth in the ABC brand through its partnership with Coca-Cola Europacific Partners (CCEP) and expansion into new markets.
Focus remains on high-margin, owned brands and direct-to-consumer channels, with ongoing efforts to divest non-core U.S. retail operations.
IBG believes current cash and receivables will fund operations for at least 12 months.
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Frequently asked questions
IBI Group Inc was a global design and technology firm offering professional services in architecture, engineering, planning, and technology consulting. The company served sectors including urban development, transportation, healthcare, and education through integrated solutions. IBI Group operated internationally, supporting smart city initiatives and infrastructure development. The company was headquartered in Toronto, Canada, and its shares were listed on the TSX.