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Tattooed Chef, Inc.OTCPK:TTCF.Q Stock Report

Market Cap US$83.0
Share Price
n/a
1Y0%
7D0%
1D0%
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Tattooed Chef, Inc.

OTCPK:TTCF.Q Stock Report

Market Cap: US$83.0

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Tattooed Chef (TTCF.Q) Stock Overview

A plant-based food company, produces and sells a portfolio of frozen foods. More details

TTCF.Q fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance0/6
Financial Health0/6
Dividends0/6

Risk Analysis

Latest financial reports are more than a year old

Highly volatile share price over the past 3 months compared to the US market

Does not have a meaningful market cap ($83)


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Tattooed Chef, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Tattooed Chef
Historical stock prices
Current Share PriceUS$0.000001
52 Week HighUS$4.95
52 Week LowUS$0.000001
Beta0
1 Month Change0%
3 Month Change0%
1 Year Change0%
3 Year Change-99.90%
5 Year Change-99.90%
Change since IPO-99.90%

Recent News & Updates

Recent updates

Analysis Article • Apr 18

Tattooed Chef, Inc.'s (NASDAQ:TTCF) Popularity With Investors Is Clear

It's not a stretch to say that Tattooed Chef, Inc.'s ( NASDAQ:TTCF ) price-to-sales (or "P/S") ratio of 0.6x right now...
Seeking Alpha • Sep 22

Tattooed Chef: Why I'm Not Buying The Dip

Summary Tattooed Chef reported a poor quarter, missing revenue and profitability estimates. The company's gross margins dropped to just 1.3%. Strong revenue growth continues to be the primary driver of the stock's valuation. Profitability is a continuing headwind. The company burned through 80% of its cash in the last year. Valuations have fallen back to earth. I still think shares are expensive after considering the high risk of this investment. Investment Thesis The Tattooed Chef (TTCF) hype is fading fast. The company recently reported an abysmal quarter. It missed both revenue and earnings estimates and gross margins fell to just 1.3% during the quarter. At this point, the company’s strong revenue growth makes up the primary bull case for the company. But with poor profitability prospects and a weak balance sheet, this is a risky prospect. I recommend avoiding this company at the current time. Is Top Line Growth Enough? The most notable positive about Tattooed Chef is the company’s strong revenue growth. The company grew its top line by 44% in 2021 and again by 37% in the first quarter. Growth has tapered off with a top line increase of only 15% during the last quarter. But the company still reaffirmed its guidance, calling for $280 million to $285 million in revenue this fiscal year. Tattooed Chef May 2022 Investor Presentation But this doesn’t tell the whole story. According to the company’s 10-Q filing, only a fraction of this growth was organic. Of the net sales increase of $7.8 million, only $1.1 million of growth was from the company’s core brand. $3.8 million was driven by private label products and $2.9 million in other revenues. The company attributes most of this revenue growth to its acquisitions of New Mexico Food Distributors, Karsten Tortilla Factory, and Belmont Confections. Organic revenue growth from the Tattooed Chef brand was up only 3.4% year over year. This is a bad sign for a company valued almost entirely for its revenue expansion. However, these results may improve later in the year. The company reaffirmed its revenue guidance of $280 to $285 million. This implies a mild acceleration in the back half of the year. So far, the company has grown primarily by releasing new products and expanding distribution for these products. Management recently announced that they’re also increasing prices in the fourth quarter. This might help boost revenues and profitability. It could also reduce the number of units sold. Tattooed Chef May 2022 Investor Presentation Grocery stores have reported a trade down effect, where consumers buy lower cost products to save money. This may cause low margin, premium products like Tattooed Chef to feel some pressure. I think that Tattooed Chef might be more resilient to these headwinds. The company has reported that half of its customers have an income of over $100 thousand. It remains to be seen how the company will hold up against current economic headwinds. But I don’t think that the company’s revenue growth is as strong as it may seem. The current environment may blunt the high growth the company relies on. Profitability In Focus The key issue facing Tattooed Chef is the firm’s profitability. During the last quarter, the business reported abysmal gross margins of just 1.3%. The company vaguely blamed inflation and shipping costs for this decline. Management then reduced their full year gross margin guidance from a range of 10% to 12% down to a range of 8% to 10%. The company has described its profitability model as being based on operating leverage. The company plans to offset its fixed costs with volume. Management hasn’t focused much on profitability in the past. Their previous guidance and earnings have focused on top line growth. But now they’ve guided for breakeven adjusted EBITDA by the end of 2023. Management described this plan on their last earnings call. It's very, we're very unique. It's why our model we feel is so important to what most of the other companies are. So we're vertical. We have our price increases. We have our robotics going on, and then we have our revenue growth that's coming. So you add all of these things up together and we really feel confident by the end of ‘23, we're going to be profitable. So absolutely, by doing all of these things, our labor numbers by bringing in these robotics are going to come down significantly too... And it's like, because we're this new company that we're just introducing all of these products, we have inefficiencies. As the more product we make, the more we streamline our operations, the more that we're going to be able to be profitable.
Seeking Alpha • Aug 23

Tattooed Chef stock climbs 16% postmarket on expanded Walmart distribution deal

Tattooed Chef (NASDAQ:TTCF) stock climbed 16% postmarket on Tuesday after the firm announced an expanded distribution deal with Walmart (WMT) and a $10M asset purchase agreement with Desert Premium. TTCF will increase its brand's frozen shelf presence from 5 to 13 SKUs and expand availability of these 13 SKUs from an average of 300 WMT stores to an average of 2K WMT stores. TTCF expects initial availability of its products at the new WMT locations no later than Oct. The company also acquired certain assets from Desert Premium for ~$10M and inked a lease deal for an 80K sq. ft. manufacturing facility in Albuquerque, New Mexico - where  the acquired assets currently operate. The acquired assets include packaging and production equipment, and the leased facility expands TTCF's manufacturing footprint with significant cold storage and ambient storage. The facility's proximity to TTCF's New Mexico operations will allow the firm to consolidate distribution activities to capture added economies of scale. TTCF expects operations of the new facility to be cash flow neutral through the rest of 2022 and be accretive to earnings by the start of 2023. Shares of TTCF declined 59.5% YTD.
Seeking Alpha • Jul 15

Tattooed Chef: Why Investors Probably Want To Dodge This Low-Margin Business

Tattooed Chef is an interesting player in the plant-based pre-packaged food industry. Despite landing spots on major supermarket shelves, Tattooed Chef is simply not a good business given low margins and high competition, and should probably be avoided. Tattooed Chef's recent quarter exhibits signs that the business may be structurally unprofitable. Based on Tattooed Chef's cash burn rate, I believe the company will need to dilute existing shareholders to raise cash via issuing equity within 3 quarters. I believe this will severely impair the stock price from current levels. I believe shares of Tattooed Chef are not worth more than 1X revenue, leaving 40% downside to under $4 per share. Investors may be wise to sell as I see virtually no upside in the near term. Introduction Tattooed Chef (TTCF) is a plant-based frozen packaged food company that sells its own branded products in major supermarkets as well as white-labeled products for customers. The company has managed to grow revenue, but this has come at a great cost. Expenses are climbing far faster than revenue and margins are deteriorating. I'm rating TTCF as an avoid until they can demonstrate that the business can improve margins alongside revenue growth, which, quite frankly, I'm skeptical they can ever achieve. The Financial Numbers and Trends Are Worrying Tattooed Chef's revenue last quarter grew a respectable 37%, however, operating costs grew 75%, far outpacing revenue growth. Gross profit grew a measly 13.5%. The fact that TTCF's gross profit margin is declining with revenue growth and operating costs are skyrocketing makes it the company look ugly, and the stock price has declined from well over $20 per share a year ago to around $6 today. Data by YCharts TTCF Revenue, Expenses, and Margins (TIKR.com) Tattooed Chef has been profitable in the past, however, they shifted in 2020 to a strategy of cutting margins to increase top-line growth. Unfortunately for Tattooed Chef shareholders, the market environment no longer tolerates such a strategy and the stock has severely underperformed as a result. Digging into the numbers further, we can determine that the increased spending is mostly from increased promotional and marketing expenses. TTCF CQ1 Expenses Breakdown (SEC Filing) Although there were some impacts to gross margins outside of Tattooed Chef's control in CQ1 2022 such as increased shipping costs, it remains concerning that they would proceed to spend so heavily on marketing and promotional expenses when they can barely make a gross profit. It seems they only care about top line growth at any cost. A strategy that is not productive to the long term compounding returns. Going Forward in 2022 Tattooed Chef has guided for $280-285 million in revenue with 10-12% gross margins in 2022. The company is on pace to spend $100 million on opex this year while generating just $34 million in gross profits on the high end of guidance (12% gross profit margin on $285M revenue). This means Tattooed Chef is likely to see an operating loss in excess of $66 million this year, or about $50 million remaining given they already lost $16 million in Q1. Cash flow in Q1 was also abysmal as despite posting a GAAP net loss of just $16 million, the company burnt through $26 million of cash on operating expenses in the quarter, meaning they're on pace to burn around $100 million this year. At the end of Q1, Tattooed Chef had just $57 million of cash on the balance sheet. Furthermore, the company has a current notes payable of around $5 million that they'll have to pay off within the next 12 months. This ultimately means that Tattooed Chef likely only has 2-3 quarters of cash left. It is unlikely they'll be able to take on much debt to continue funding losses, so their only option is likely to be an equity raise. This has the potential to dilute existing shareholders considerably and could cause the stock price to decline further. Valuing Tattooed Chef Valuing a company like Tattooed Chef is tricky. Currently, Tattooed Chef has 82.24 million fully diluted shares outstanding. The company has total debt obligations of $7.174 million, and cash of $57.417 million. This means that with the stock trading at around $6.10, the company has a total fully diluted enterprise value of $451.4 million.
Seeking Alpha • Jun 02

Why We Are Avoiding Tattooed Chef For Now

Double-digit revenue growth in the first quarter, but significantly widening loss from operations, due to increased operating expenses. Although margins have been contracting since the IPO, the investment in cold storage facilities and automation improvements could turn this trend around. Macroeconomic headwinds are expected to have a negative influence in the near term. Currently, we rate the stock as a hold.
Seeking Alpha • Apr 11

Tattooed Chef: A Disappointing 2021, Here Are Our Expectations For 2022

2021 was a disappointing year for Tattooed Chef. The company did not maintain expectations. However, the company increased its shelf presence throughout the year thanks to the increase in stores and SKUs per store. Overall, we are slightly disappointed by the management.
Analysis Article • Mar 17

Tattooed Chef's (NASDAQ:TTCF) Weakness in 2022 Can Extend Beyond Supply Chain

After a long period of sideways movement, Tattooed Chef, Inc. (NASDAQ: TTCF) is on a bearish down spiral. Investors are rightfully skeptical with the latest data indicating a shrinking gross profit margin. Meanwhile, short interest is exceptionally high – well over 30%.
Seeking Alpha • Feb 25

Tattooed Chef: A Winning Brand In A Rocketing Plant-Based Food Industry

The plant-based food industry is now expected to grow at an impressive 18.5% CAGR through 2030. Tattooed Chef has grown its retail presence to 13,000 stores from 4,300 stores in just a year. The Tattooed Chef brand is succeeding by all accounts in an industry in which the best brand will win in the long-term. With an average annual revenue growth rate of 63.4%, TTCF expects to reach profitability by late 2023 if it can improve gross margins.
Seeking Alpha • Dec 15

Tattooed Chef: A Frozen Vegetable Company Or Plant-Based Meal Disruptor?

Tattooed Chef's earnings for its fiscal 2021 third quarter left a lot to be desired. The company saw gross margins weaken on both a year-over-year and sequential basis. Outlook for the year was also lowered even as the broader market for plant-based meals is set for growth.
Seeking Alpha • Nov 17

Tattooed Chef: Continuing Growth

Tattooed Chef has been range-bound for about a year, and the recent fears surrounding the company brought the stock to the lower end of the range. Despite fears, Tattooed Chef is continuing to show great execution, valuation, financials, and vision. Therefore, given today's low valuation, I believe investment in Tattooed Chef today can be an opportunity for long-term investors.
Seeking Alpha • Oct 07

Tattooed Chef Stands To Capitalize On The World Eating Just Plants

The world is increasingly turning vegan. Plant-based food companies are chasing a fast-expanding market that is set for structural growth. Tattooed Chef seems well placed to capitalize of this shift in consumer diets.
Seeking Alpha • Sep 29

Tattooed Chef: Earn A 27% Annualized Yield On This Growing Plant-Based Food Company

Tattooed Chef is growing quickly and executing solidly on its business plan. The company is growing into an expanding TAM with little established competition. Recent volatility allows the use of put options to generate a high annualized yield in return for taking long exposure to the stock with a higher margin of safety. Win-Win!
Analysis Article • Sep 06

Tattooed Chef's (NASDAQ:TTCF) Cash Burn Should Not Hinder Growth Plans

Plant-based diets are blooming in the 2020s, so seeing a SPAC deal in that domain was not surprising. However, shares of Tattooed Chef(NASDAQ: TTCF) remain range-bound after the first 10 months of listing on Nasdaq. The company's last earnings report certainly didn't help the cause, so that we will be examining the cash burn rate of this yet unprofitable, sustainable healthy food player.
Seeking Alpha • Aug 12

Tattooed Chef Wants To Ride The Consumer Shift To Plant-Based Eating

Tattooed Chef is a rapidly growing plant-based food company. Increased awareness of the health and environmental benefits of plant-based food is set to generate healthy long-term demand for the company's products. At 7.23x fiscal 2021 revenue Tattooed Chef is somewhat expensive.
Seeking Alpha • Jun 27

Tattooed Chef: Great Growth Story

The company's revenue increased 58.7% compared to Q1 2020 and exceeded analysts' expectations by $6.28 million. Shares have the potential for further growth due to active expansion in the domestic market and the availability of production facilities for rapid entry into the European market. There is room for further growth of the stock to the level of $25 and above.
Analysis Article • May 09

Is Tattooed Chef, Inc. (NASDAQ:TTCF) Trading At A 42% Discount?

How far off is Tattooed Chef, Inc. ( NASDAQ:TTCF ) from its intrinsic value? Using the most recent financial data...
Analysis Article • Mar 26

Statutory Earnings May Not Be The Best Way To Understand Tattooed Chef's (NASDAQ:TTCF) True Position

Despite posting strong earnings, Tattooed Chef, Inc.'s ( NASDAQ:TTCF ) stock didn't move much over the last week. We...
Analysis Article • Jan 19

A Look At The Intrinsic Value Of Tattooed Chef, Inc. (NASDAQ:TTCF)

Does the January share price for Tattooed Chef, Inc. ( NASDAQ:TTCF ) reflect what it's really worth? Today, we will...

Shareholder Returns

TTCF.QUS FoodUS Market
7D0%0.5%-1.1%
1Y0%-7.0%15.1%

Return vs Industry: TTCF.Q underperformed the US Food industry which returned 2.1% over the past year.

Return vs Market: TTCF.Q underperformed the US Market which returned 10.9% over the past year.

Price Volatility

Is TTCF.Q's price volatile compared to industry and market?
TTCF.Q volatility
TTCF.Q Average Weekly Movement7,890.3%
Food Industry Average Movement5.4%
Market Average Movement7.1%
10% most volatile stocks in US Market16.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: TTCF.Q's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: TTCF.Q's weekly volatility has increased from 7221% to 7890% over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/an/awww.tattooedchef.com

Tattooed Chef, Inc., a plant-based food company, produces and sells a portfolio of frozen foods. It supplies plant-based products to retailers in the United States. The company offers varieties of frozen bowls, veggie blends, and vegetables.

Tattooed Chef, Inc. Fundamentals Summary

How do Tattooed Chef's earnings and revenue compare to its market cap?
TTCF.Q fundamental statistics
Market capUS$83.00
Earnings (TTM)-US$140.66m
Revenue (TTM)US$222.33m
0.0x
P/S Ratio
0.0x
P/E Ratio

Is TTCF.Q overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TTCF.Q income statement (TTM)
RevenueUS$222.33m
Cost of RevenueUS$243.95m
Gross Profit-US$21.62m
Other ExpensesUS$119.05m
Earnings-US$140.66m

Last Reported Earnings

Mar 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)0
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0.0%

How did TTCF.Q perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/15 18:55
End of Day Share Price 2026/02/12 00:00
Earnings2023/03/31
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tattooed Chef, Inc. is covered by 3 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Robert DickersonJefferies LLC
George KellyRoth Capital Partners
Brian HollandTD Cowen