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IBI Group (IBG) investor relations material
IBI Group Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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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