Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Lead Independent Director Steve Smith was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: CA$0.13 loss per share (vs CA$0.024 loss in 3Q 2021) Third quarter 2022 results: CA$0.13 loss per share (further deteriorated from CA$0.024 loss in 3Q 2021). Revenue: CA$10.9m (up 87% from 3Q 2021). Net loss: CA$3.89m (loss widened 419% from 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 11
Second quarter 2022 earnings released: CA$0.05 loss per share (vs CA$0.02 loss in 2Q 2021) Second quarter 2022 results: CA$0.05 loss per share (down from CA$0.02 loss in 2Q 2021). Revenue: CA$10.5m (up 87% from 2Q 2021). Net loss: CA$1.55m (loss widened 147% from 2Q 2021). Over the next year, revenue is forecast to grow 28%, compared to a 151% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Announcement • Aug 05
Freshii Launches Freshii Classics with Two New Bowls and Two New Salads Omnichannel health and wellness brand, Freshii, launches Freshii Classics with two new bowls and two new salads in its quick service restaurants made with the fresh and healthy ingredients common to Freshii’s menu. With flavors like Chipotle Cheddar and Sesame Crunch, Freshii is helping customers Get Back to What’s Good. To celebrate the launch of Freshii Classics, Freshii App users can redeem an exclusive in-app promotion for a $4.99 Freshii Classics bowl or salad every Wednesday this August. It’s a great way to try the new offerings at an affordable price. The Freshii app is available on iOS and Android. The new lineup includes: Sesame Crunch Salad – Sweet, crunchy and oh-so-addictive, this new salad strikes a sweet-savoury balance, with crispy wontons for that craveable crunch!. Bacon Ranch Salad – A tried and true classic featuring Greek yogurt ranch dressing for the ultimate healthy indulgence. Chipotle Cheddar Bowl – Smoky chipotle mixed with savoury black beans and rich aged cheddar bring just the right amount of kick. Southwest BBQ Bowl – Featuring a double zig-zag of BBQ and Greek yogurt ranch, this classic checks off all the flavour boxes. Freshii Classics are regularly available starting at $8.99, or as part of a combo; served with a choice of chips and a drink starting at $11.99. Reported Earnings • May 17
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CA$0.077 loss per share (down from CA$0.042 loss in 1Q 2021). Revenue: CA$9.60m (up 162% from 1Q 2021). Net loss: CA$2.35m (loss widened 78% from 1Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 46%, compared to a 172% growth forecast for the industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Buying Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.8%. The fair value is estimated to be CA$2.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 67%. Buying Opportunity • Mar 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be CA$2.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% per annum over the last 3 years. Earnings per share has declined by 67% per annum over the last 3 years. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: CA$23.6m (up 34% from FY 2020). Net loss: CA$9.93m (loss widened 102% from FY 2020). Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 77%, compared to a 163% growth forecast for the restaurants industry in Canada. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Feb 19
Freshii Inc., Annual General Meeting, Apr 27, 2022 Freshii Inc., Annual General Meeting, Apr 27, 2022. Reported Earnings • Aug 12
Second quarter 2021 earnings released: CA$0.02 loss per share (vs CA$0.022 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CA$5.64m (up 58% from 2Q 2020). Net loss: CA$626.0k (loss narrowed 12% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Announcement • Jun 02
Freshii Gives Mexican Food-Lovers Something to Taco-Bout Freshii is thrilled to announce the arrival of Freshii Tacos. With four delicious varieties, Freshii Tacos bring together zesty, authentic flavours with the fresh, healthy ingredients Freshii is known for. Each recipe is served with a house-made salsa verde and, in Canada, features a cauliflower-based soft-shell tortilla. Springing with flavour, Freshii Tacos are a bright, colourful twist on a beloved classic, something Freshii customers have been clamouring for. Street Corn Chicken – Freshii's Street Corn Salad and salsa verde join forces, topped with creamy avocado and crunchy cabbage. Tofriito – A vegetarian Taco everyone will love, featuring tofu and southwestern flavours, drizzled with housemade avocado crema. Chipotle Pulled Chicken – Smoky chipotle mixed with savoury black beans and rich aged cheddar bring just the right amount of kick. Steak + Queso – Premium sliced steak matched with creamy Greek yogurt - sure to satisfy the biggest appetites. Freshii is giving fans an extra incentive to celebrate the new menu offering with an exclusive $5 deal for an order of three Tacos – on a Taco Tuesday, no less. The offer can be redeemed on Tuesday, June 8th through the Freshii app, available on iOS and Android. The date also marks Best Friends Day, encouraging people to come together over this delicious deal, whether across the table or connecting online. After placing your order, head to freshiitacos.com for full details on how to send the $5 offer to fellow Taco fans anywhere there's a Freshii. Freshii Tacos are regularly available for $12.99 for an order of three, or as part of a combo order: Taco Combo – Three Tacos with salsa verde, served with queso, tortilla chips and beverage for $15.99. Tacos for Two – Six Tacos with salsa verde, two orders of queso, large tortilla chips and two beverages for $26.99. Tacos for Two with Salad – Six Tacos with salsa verde, one salad (Cobb, Market or Fiesta), and two beverages for $28.99. Reported Earnings • May 14
First quarter 2021 earnings released: US$0.033 loss per share (vs US$0.079 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: US$2.89m (down 37% from 1Q 2020). Net loss: US$1.05m (loss narrowed 58% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue misses expectations Revenue missed analyst estimates by 7.4%. Over the next year, revenue is forecast to stay flat compared to a 84% growth forecast for the Hospitality industry in Canada. Reported Earnings • Feb 28
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$13.7m (down 39% from FY 2019). Net loss: US$3.82m (loss widened US$3.38m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Freshii Inc. Announces Resignation of Michele Romanow as Board of Director After almost four years of service, Michele Romanow has stepped down from the Freshii Board of Directors in order to dedicate additional time to Clearbanc, effective February 25, 2021. Executive Departure • Feb 26
Independent Director has left the company On the 25th of February, Michele Romanow's tenure as Independent Director ended after 4.1 years in the role. As of December 2020, Michele personally held only 800.00 shares (CA$1.4k worth at the time). A total of 2 executives have left over the last 12 months. Announcement • Feb 19
Freshii Inc., Annual General Meeting, Apr 27, 2021 Freshii Inc., Annual General Meeting, Apr 27, 2021. Is New 90 Day High Low • Feb 09
New 90-day high: CA$2.14 The company is up 53% from its price of CA$1.40 on 10 November 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$2.86 per share. Is New 90 Day High Low • Jan 20
New 90-day high: CA$1.93 The company is up 48% from its price of CA$1.30 on 22 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$2.93 per share. Is New 90 Day High Low • Nov 20
New 90-day high: CA$1.42 The company is up 2.0% from its price of CA$1.39 on 21 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$2.64 per share. Is New 90 Day High Low • Oct 29
New 90-day low: CA$1.24 The company is down 12% from its price of CA$1.41 on 31 July 2020. The Canadian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$3.77 per share. Announcement • Oct 14
Freshii Unveils Transformed Mobile App to Make Healthy Food More Convenient for Canadians Freshii Inc. announced the launch of its completely transformed mobile app, Freshii, offering Canadians a convenient way to eat and energize. The app's brand new interface allows customers to easily personalize their favourite orders, specify and save dietary preferences, pay in store with the in-app wallet, or skip the line with transactionless pick-up. On every order placed through the app, users collect Veggie Points, which can be redeemed on their next in-app purchase. Another new feature allows users to send gift cards to friends and family members. Curbside pick-up and additional delivery options will be available soon. The Freshii app is now available for download on iOS and Android. For a limited time, new users will receive a $5 reward after their first in-app purchase, and existing users will have a $5 reward waiting for them upon download. Is New 90 Day High Low • Sep 29
New 90-day low: CA$1.29 The company is down 4.0% from its price of CA$1.35 on 30 June 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$3.76 per share.