SOWG Stock Price & Analysis

Sow Good Inc

SOWG

Sow Good Inc

2.860

+2.860(+0%)6M

SOWG Stock Price Chart

YTD

SOWG Key Stats

High

2.930

Vol

69.56K

Low

2.450

Amount

197.20K

Open

2.470

VWAP

2.84

Mkt Cap

29.30M

EV/EBITDA(TTM)

4.18

SOWG Company Profile

Sow Good Inc. is a freeze-dried candy and snack manufacturer. The Company’s business operates under the Sow Good brand. The Company produces a portfolio of freeze-dried treats under its Candy and Crunch Cream (freeze-dried ice cream bars and sandwiches) product lines. It produces, packages, and distributes freeze-dried products from its facility in Irving, Texas. It has about 14 stock keeping units (SKUs) in its Sow Good Candy line of treats and four SKUs in its Sow Good Crunch Cream line. It sells its treats using an omnichannel strategy primarily focused on the wholesale and retail channels. All of its products manufactured by third parties are shipped to its facilities in Texas for packaging. Its products are sold through a diverse set of retail channels, including conventional, natural and specialty grocery, club, and convenience stores. In addition, the Company sells a substantial portion of its products through distributors.

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SOWG Technical Analysis

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Should I Buy SOWG

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SOWG Fundamental Analysis

buy

Moderate Buy

Buy

Hold

Sell

High

Averages

Low

Analyst

Rating

Action

Price Target

Date

Rating Reason

Craig-Hallum

Eric Des Lauriers

Strong Buy

Maintains

$20 → $25

2024-06-03

Roth MKM

George Kelly

Strong Buy

Reiterates

$15 → $21

2024-05-16

Roth MKM

George Kelly

Strong Buy

Initiates

$15

2024-05-10

Craig-Hallum

Eric Des Lauriers

Strong Buy

Initiates

$20

2024-05-10

Analyst	Rating	Action	Price Target	Date

Craig-Hallum Eric Des Lauriers	Strong Buy	Maintains	$20 → $25	2024-06-03
Roth MKM George Kelly	Strong Buy	Reiterates	$15 → $21	2024-05-16
Roth MKM George Kelly	Strong Buy	Initiates	$15	2024-05-10
Craig-Hallum Eric Des Lauriers	Strong Buy	Initiates	$20	2024-05-10

SOWG Earnings Analysis

Sow Good Inc. Common Stock Corporation (SOWG.O) Q3 2024 Earnings Conference Call

Positive

Revenue Surge in 2024: 1. Significant Revenue Growth: Sow Good achieved $30.6 million in revenue for the first nine months of 2024, a remarkable increase from $6.5 million during the same period last year, showcasing strong market demand for their innovative products.
Cash Position Improvement: 2. Improved Cash Position: The company ended Q3 2024 with cash and cash equivalents of $6.9 million, up from $2.4 million at the end of 2023, primarily due to a successful public offering that raised $12.8 million.
Production Capacity Expansion: 3. Expansion of Production Capacity: Sow Good now operates six freeze dryers at their Union Bower facility and has received a seventh at Rock Quarry, with additional units set to arrive in the next two months, enhancing their production capabilities.
New Product Introductions: 4. Strategic Product Launches: The company is set to introduce new products, including the Chamoy gummy and a proprietary rock candy, which are expected to enhance their market presence and cater to diverse consumer preferences.
Private Label Strategy Expansion: 5. Focus on Private Label Opportunities: Sow Good is re-engaging with private label customers to create new revenue streams, leveraging their manufacturing capabilities to expand market access and support long-term growth.

Negative

Revenue Decline Analysis: 1. Declining Revenue: Revenue in Q3 2024 was $3.6 million, down from $5 million in the prior year period, primarily due to delayed product shipments caused by extreme heat.
Gross Profit Decline: 2. Reduced Gross Profit: Gross profit for Q3 2024 was $0.6 million, a decrease from $1.3 million in Q3 2023, resulting in a gross margin drop from 27% to 16%.
Rising Operating Expenses: 3. Increased Operating Expenses: Operating expenses surged to $3.8 million in Q3 2024, compared to just $0.3 million in the same period last year, driven by higher compensation and administrative costs.
Net Loss Reported: 4. Significant Net Loss: The company reported a net loss of $3.4 million, or $0.33 per diluted share, contrasting with a net income of $0.3 million, or $0.04 per diluted share, in Q3 2023.
Declining Adjusted EBITDA: 5. Negative Adjusted EBITDA: Adjusted EBITDA for Q3 2024 was negative $1.9 million, worsening from a positive $0.6 million in the same quarter of the previous year.

Positive

Revenue Surge in 2024: 1. Significant Revenue Growth: Sow Good achieved $30.6 million in revenue for the first nine months of 2024, a remarkable increase from $6.5 million during the same period last year, showcasing strong market demand for their innovative products.
Cash Position Improvement: 2. Improved Cash Position: The company ended Q3 2024 with cash and cash equivalents of $6.9 million, up from $2.4 million at the end of 2023, primarily due to a successful public offering that raised $12.8 million.
Production Capacity Expansion: 3. Expansion of Production Capacity: Sow Good now operates six freeze dryers at their Union Bower facility and has received a seventh at Rock Quarry, with additional units set to arrive in the next two months, enhancing their production capabilities.
New Product Introductions: 4. Strategic Product Launches: The company is set to introduce new products, including the Chamoy gummy and a proprietary rock candy, which are expected to enhance their market presence and cater to diverse consumer preferences.
Private Label Strategy Expansion: 5. Focus on Private Label Opportunities: Sow Good is re-engaging with private label customers to create new revenue streams, leveraging their manufacturing capabilities to expand market access and support long-term growth.

Negative

Revenue Decline Analysis: 1. Declining Revenue: Revenue in Q3 2024 was $3.6 million, down from $5 million in the prior year period, primarily due to delayed product shipments caused by extreme heat.
Gross Profit Decline: 2. Reduced Gross Profit: Gross profit for Q3 2024 was $0.6 million, a decrease from $1.3 million in Q3 2023, resulting in a gross margin drop from 27% to 16%.
Rising Operating Expenses: 3. Increased Operating Expenses: Operating expenses surged to $3.8 million in Q3 2024, compared to just $0.3 million in the same period last year, driven by higher compensation and administrative costs.
Net Loss Reported: 4. Significant Net Loss: The company reported a net loss of $3.4 million, or $0.33 per diluted share, contrasting with a net income of $0.3 million, or $0.04 per diluted share, in Q3 2023.
Declining Adjusted EBITDA: 5. Negative Adjusted EBITDA: Adjusted EBITDA for Q3 2024 was negative $1.9 million, worsening from a positive $0.6 million in the same quarter of the previous year.