Updated May 8, 2025, 11:07 PM UTC
| Income Statement - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales (USD, thousands) | 214,966.00 | 864,714 | 192,500 | 208,389.00 | 220,860.00 | 228,977.00 | 850,726 | 213,796 | ||||||||
| Costs of Sales (USD, thousands) | 180,149.00 | 724,856 | 155,226 | 166,986.00 | 183,775.00 | 190,965.00 | 696,952 | 184,723 | ||||||||
| Gross Profit (USD, thousands) | 34,817.00 | 139,858 | 37,274 | 41,403.00 | 37,085.00 | 38,012.00 | 153,774 | 29,073 | ||||||||
| Selling, General and Administrative Expense (USD, thousands) | 39,302.00 | 144,577 | 44,440 | 51,610.00 | 46,132.00 | 42,955.00 | 185,137 | 40,344 | ||||||||
| Transaction, Restructuring and Integration Expense (USD, thousands) | 1,875.00 | 14,557 | 2,964 | 4,399.00 | 2,538.00 | 3,896.00 | 13,797 | 1,791 | ||||||||
| (Gain) Loss on Disposal of Property, Plant and Equipment (USD, thousands) | 8.00 | 1,153 | 2 | 971.00 | (8.00) | (2,687.00) | (1,722) | 7 | ||||||||
| Total Operating Expenses (USD, thousands) | 41,185.00 | 160,287 | 47,406 | 57,811.00 | 49,827.00 | 47,854.00 | 202,898 | 42,142 | ||||||||
| (Loss) Income from Operations (USD, thousands) | (6,368.00) | (20,429) | (10,132) | (16,408.00) | (12,742.00) | (9,842.00) | (49,124) | (13,069) | ||||||||
| Interest Expense (USD, thousands) | 7,941.00 | 29,157 | 7,579 | 7,453.00 | 6,889.00 | 11,935.00 | 33,856 | 12,599 | ||||||||
| Change in Fair Value of Warrant Liabilities (USD, thousands) | 8,626.00 | (10,207) | (41) | (1,612.00) | (5,481.00) | 119.00 | (7,015) | N/A [N/A] | ||||||||
| Other, Net (USD, thousands) | 123.00 | 1,446 | 135 | 98.00 | (10.00) | 190.00 | 413 | (278) | ||||||||
| Loss Before Income Taxes and Equity in Earnings from Unconsolidated Entities (USD, thousands) | (23,058.00) | (40,825) | (17,805) | (22,347.00) | (14,140.00) | (22,086.00) | (76,378) | (25,390) | ||||||||
| Income Tax Expense (Benefit) (USD, thousands) | (3,027.00) | (6,358) | 5,815 | (4,645.00) | 84.00 | 2,474.00 | 3,728 | 1,828 | ||||||||
| Equity in (Earnings) Loss from Unconsolidated Entities (USD, thousands) | 20.00 | 100 | 53 | 57.00 | 35.00 | 47.00 | 192 | N/A [N/A] | ||||||||
| Net Loss (USD, thousands) | (20,051.00) | (34,567) | (23,673) | (17,759.00) | (14,259.00) | (24,607.00) | (80,298) | (27,218) | ||||||||
| Accretion of Series A Convertible Preferred Shares (USD, thousands) | 88.00 | (161) | 87 | 87.00 | 88.00 | 87.00 | 349 | 86 | ||||||||
| Net Loss Attributable to Common Shareholders (USD, thousands) | (19,963.00) | (34,743) | (23,586) | (17,672.00) | (14,171.00) | (24,520.00) | (79,949) | (27,132) | ||||||||
| Basic (Loss) Earnings per Common Share (USD) | (0.24) | (0.43) | (0.27) | (0.20) | (0.16) | (0.26) | (0.89) | (0.29) | ||||||||
| Diluted (Loss) Earnings per Common Share (USD) | (0.24) | (0.43) | (0.27) | (0.20) | (0.16) | (0.26) | (0.89) | (0.29) | ||||||||
| Basic Weighted-average Number of Shares Outstanding (Thousands) | 2,481.00 | 80,684 | 88,095 | 114.00 | 111.00 | 1,475.00 | 89,795 | 94,298 | ||||||||
| Diluted Weighted-average Number of Shares Outstanding (Thousands) | 2,481.00 | 80,684 | 88,095 | 114.00 | 111.00 | 1,475.00 | 89,795 | 94,298 | ||||||||
| Balance Sheet - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Cash and cash equivalents (USD, thousands) | 37,196 | 37,196 | 12,571 | 24,316 | 22,359 | 26,151 | 26,151 | 33,052 | ||||||||
| Restricted cash (USD, thousands) | 644 | 644 | 1,205 | 1,711 | 10,321 | 9,413 | 9,413 | 8,984 | ||||||||
| Accounts receivable, net of allowance for credit losses (USD, thousands) | 99,158 | 99,158 | 90,214 | 102,071 | 102,669 | 99,566 | 99,566 | 83,429 | ||||||||
| Inventories (USD, thousands) | 149,921 | 149,921 | 140,354 | 163,703 | 160,644 | 163,323 | 163,323 | 187,383 | ||||||||
| Derivative assets (USD, thousands) | 13,658 | 13,658 | 15,424 | 17,751 | 16,720 | 19,746 | 19,746 | 26,573 | ||||||||
| Prepaid expenses and other current assets (USD, thousands) | 12,473 | 12,473 | 13,457 | 22,973 | 23,921 | 15,444 | 15,444 | 24,399 | ||||||||
| Total current assets (USD, thousands) | 313,050 | 313,050 | 273,225 | 332,525 | 336,634 | 333,643 | 333,643 | 363,820 | ||||||||
| Property, plant and equipment, net (USD, thousands) | 344,038 | 344,038 | 400,839 | 418,247 | 438,617 | 467,011 | 467,011 | 476,270 | ||||||||
| Goodwill (USD, thousands) | 116,111 | 116,111 | 116,111 | 116,111 | 116,111 | 116,111 | 116,111 | 116,111 | ||||||||
| Intangible assets, net (USD, thousands) | 122,945 | 122,945 | 120,950 | 118,953 | 116,968 | 114,879 | 114,879 | 112,853 | ||||||||
| Operating lease right-of-use assets (USD, thousands) | 67,601 | 67,601 | 64,000 | 62,643 | 61,404 | 63,380 | 63,380 | 62,802 | ||||||||
| Other long-term assets (USD, thousands) | 7,769 | 7,769 | 8,131 | 7,894 | 7,380 | 6,756 | 6,756 | 6,848 | ||||||||
| Total Assets (USD, thousands) | 971,514 | 971,514 | 983,256 | 1,056,373 | 1,077,114 | 1,101,780 | 1,101,780 | 1,138,704 | ||||||||
| Current maturities of long-term debt (USD, thousands) | 9,811 | 9,811 | 12,118 | 12,137 | 12,137 | 14,057 | 14,057 | 15,062 | ||||||||
| Short-term debt (USD, thousands) | 43,694 | 43,694 | 34,432 | 54,552 | 58,007 | 54,659 | 54,659 | 58,790 | ||||||||
| Accounts payable (USD, thousands) | 69,106 | 69,106 | 44,230 | 43,091 | 52,320 | 84,255 | 84,255 | 67,325 | ||||||||
| Supply chain finance program (USD, thousands) | 78,076 | 78,076 | 78,706 | 76,336 | 70,881 | 78,838 | 78,838 | 95,363 | ||||||||
| Derivative liabilities (USD, thousands) | 3,731 | 3,731 | 4,229 | 5,044 | 10,204 | 11,966 | 11,966 | 12,395 | ||||||||
| Accrued expenses and other current liabilities (USD, thousands) | 35,217 | 35,217 | 46,573 | 62,707 | 38,479 | 34,095 | 34,095 | 60,527 | ||||||||
| Total current liabilities (USD, thousands) | 239,635 | 239,635 | 220,288 | 253,867 | 242,028 | 277,870 | 277,870 | 309,462 | ||||||||
| Long-term debt, net (USD, thousands) | 223,092 | 223,092 | 224,090 | 280,255 | 326,122 | 325,880 | 325,880 | 356,625 | ||||||||
| Convertible notes payable - related party, net (USD, thousands) | - | - | 49,654 | 49,671 | 49,689 | 49,706 | 49,706 | 49,723 | ||||||||
| Deferred income taxes (USD, thousands) | 10,847 | 10,847 | 16,722 | 13,288 | 14,475 | 14,954 | 14,954 | 16,767 | ||||||||
| Operating lease liabilities (USD, thousands) | 63,554 | 63,554 | 60,400 | 59,287 | 58,507 | 60,692 | 60,692 | 59,605 | ||||||||
| Other long-term liabilities (USD, thousands) | 1,629 | 1,629 | 1,528 | 1,287 | 1,286 | 1,346 | 1,346 | 1,347 | ||||||||
| Total liabilities (USD, thousands) | 583,558 | 583,558 | 617,443 | 700,803 | 692,836 | 730,448 | 730,448 | 793,529 | ||||||||
| Series A Convertible Preferred Shares (USD, thousands) | 274,216 | 274,216 | 274,129 | 274,042 | 273,938 | 273,850 | 273,850 | 273,764 | ||||||||
| Common stock (USD, thousands) | 880 | 880 | 883 | 884 | 941 | 942 | 942 | 946 | ||||||||
| Additional paid-in-capital (USD, thousands) | 471,666 | 471,666 | 473,064 | 476,795 | 515,925 | 519,878 | 519,878 | 521,742 | ||||||||
| Accumulated deficit (USD, thousands) | (362,624) | (362,624) | (386,297) | (404,056) | (418,315) | (442,922) | (442,922) | (470,140) | ||||||||
| Accumulated other comprehensive income (USD, thousands) | 3,818 | 3,818 | 4,034 | 7,905 | 11,789 | 19,584 | 19,584 | 18,863 | ||||||||
| Total shareholders' equity (USD, thousands) | 113,740 | 113,740 | 91,684 | 81,528 | 110,340 | 97,482 | 97,482 | 71,411 | ||||||||
| Total Liabilities, Convertible Preferred Shares and Shareholders' Equity (USD, thousands) | 971,514 | 971,514 | 983,256 | 1,056,373 | 1,077,114 | 1,101,780 | 1,101,780 | 1,138,704 | ||||||||
| Cash Flow - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Net Loss (USD, thousands) | (20,051.00) | (34,567) | (23,673) | (17,759.00) | (14,259.00) | (24,607.00) | (80,298) | (27,218) | ||||||||
| Depreciation and Amortization (USD, thousands) | 8,165.00 | 26,584 | 7,548 | 7,968.00 | 7,680.00 | 11,549.00 | 34,745 | 11,755 | ||||||||
| Equity-Based Compensation (USD, thousands) | 2,411.00 | 8,708 | 2,455 | 3,026.00 | 3,027.00 | 3,100.00 | 11,608 | 3,331 | ||||||||
| Provision for Credit Losses (USD, thousands) | 701.00 | 979 | 441 | 585.00 | 342.00 | 948.00 | 2,316 | (166) | ||||||||
| Amortization of Deferred Financing Fees Included in Interest Expense (USD, thousands) | 1,957.00 | 3,517 | 1,050 | 665.00 | 717.00 | 792.00 | 3,224 | 893 | ||||||||
| Write-off of Unamortized Deferred Financing Fees (USD, thousands) | - | — | - | - | - | - | - | 137 | ||||||||
| (Gain) Loss on Disposal of Property, Plant and Equipment (USD, thousands) | 8.00 | 1,153 | 2 | 971.00 | (8.00) | (2,687.00) | (1,722) | 7 | ||||||||
| Mark-to-Market Adjustments (USD, thousands) | 941.00 | (104) | (1,640) | (1,522.00) | 470.00 | (1,930.00) | (4,622) | (2,073) | ||||||||
| Change in Fair Value of Warrant Liabilities (USD, thousands) | 8,626.00 | (10,207) | (41) | (1,612.00) | (5,481.00) | 119.00 | (7,015) | - | ||||||||
| Foreign Currency Transactions (USD, thousands) | 383.00 | 1,864 | 245 | (192.00) | 408.00 | 137.00 | 598 | (141) | ||||||||
| Deferred Income Tax Expense (Benefit) (USD, thousands) | (3,181.00) | (6,512) | 5,815 | (4,645.00) | (37.00) | 2,154.00 | 3,287 | 1,828 | ||||||||
| Other Adjustments to Net Loss (USD, thousands) | 1,043.00 | 2,486 | 343 | 147.00 | 513.00 | 254.00 | 1,257 | 449 | ||||||||
| Net Cash Provided by (Used in) Operating Activities (USD, thousands) | - | - | 7,979 | - | - | - | - | (22,121) | ||||||||
| Additions to Property, Plant and Equipment (USD, thousands) | (43,066.00) | (164,611) | (68,914) | (36,191.00) | (36,346.00) | (18,174.00) | (159,625) | (41,291) | ||||||||
| Additions to Intangible Assets (USD, thousands) | (26.00) | (173) | (43) | (61.00) | (40.00) | (29.00) | (173) | (20) | ||||||||
| Proceeds from Sale of Property, Plant and Equipment (USD, thousands) | 8.00 | 206 | 21 | 428.00 | 776.00 | 12,650.00 | 13,875 | 26 | ||||||||
| Net Cash Used in Investing Activities (USD, thousands) | (43,084.00) | (168,355) | (68,936) | (35,824.00) | (35,610.00) | (5,553.00) | (145,923) | (40,785) | ||||||||
| Payments on Debt (USD, thousands) | (28,674.00) | (199,196) | (100,462) | (34,172.00) | (17,334.00) | (29,274.00) | (181,242) | (34,064) | ||||||||
| Proceeds from Debt (USD, thousands) | 36,981.00 | 258,490 | 73,813 | 110,311.00 | 66,758.00 | 27,259.00 | 278,141 | 80,073 | ||||||||
| Payments on Supply Chain Financing Program (USD, thousands) | (29,820.00) | (32,141) | (38,980) | (10,632.00) | (71,591.00) | (42,666.00) | (163,869) | (32,844) | ||||||||
| Proceeds from Supply Chain Financing Program (USD, thousands) | 40,430.00 | 110,217 | 39,610 | 8,262.00 | 66,136.00 | 50,623.00 | 164,631 | 49,369 | ||||||||
| Proceeds from Convertible Notes Payable (USD, thousands) | - | - | 72,000 | (50,000.00) | 0.00 | 0.00 | 22,000 | - | ||||||||
| Proceeds from Convertible Notes Payable - Related Party (USD, thousands) | - | - | - | - | 0.00 | 0.00 | 50,000 | - | ||||||||
| Payment of Debt Issuance Costs (USD, thousands) | (135.00) | (3,158) | (2,934) | (31.00) | (364.00) | 0.00 | (3,329) | (2,176) | ||||||||
| Net Proceeds from (Repayments of) Repurchase Agreements (USD, thousands) | 2,285.00 | (6,268) | (4,933) | (2,410.00) | 232.00 | (595.00) | (7,706) | 13,473 | ||||||||
| Net Cash Provided by Financing Activities (USD, thousands) | 21,067.00 | 244,214 | 36,973 | 71,436.00 | 42,955.00 | - | - | 72,282 | ||||||||
| Revenue by Segment - in Millions of USD | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Beverage Solutions | 175.2 | 722.9 | 158.1 | 163.3 | 164.01 | 173.99 | 659.4 | 164.08 | ||||||||
| - Coffee & Tea | 136.3 | 559.0 | 118.8 | 115.1 | 115.46 | 130.24 | 479.6 | 120.67 | ||||||||
| - Flavors, Extracts & Ingredients | 39.4 | 162.0 | 38.4 | 47.4 | 47.42 | 42.58 | 175.8 | 43.25 | ||||||||
| - Other | -0.6 | 1.8 | - | - | - | - | - | 0.16 | ||||||||
| Sustainable Sourcing & Traceability (SS&T) | 41.4 | 146.9 | 36.3 | 46.7 | 56.85 | 51.45 | 191.3 | 49.72 | ||||||||
| - Green Coffee | 39.8 | 141.8 | 34.4 | 45.1 | 56.85 | 54.95 | 191.3 | 49.72 | ||||||||
| Other | - | - | 0.9 | 0.8 | 1.13 | 1.17 | 4.0 | 0.16 | ||||||||
| Intersegment Revenues | -1.5 | -5.1 | -1.9 | -1.6 | - | - | - | - | ||||||||
| Total Revenue | 215 | 864.7 | 192.5 | 208.4 | 220.86 | 228.94 | 850.7 | 213.80 | ||||||||
| Revenue by Geography - in Millions of USD | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| United States | - | 744.07 | 160.1 | 166.94 | 169.47 | 176.68 | 673.19 | 169.316 | ||||||||
| All Other Countries | - | 120.65 | 32.4 | 41.45 | 51.39 | 52.3 | 177.54 | 44.480 | ||||||||
| Total Revenue | - | 864.71 | 192.5 | 208.39 | 220.86 | 228.98 | 850.73 | 213.796 | ||||||||
| KPIs - Metric (Unit, Scale) | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Change in Single Serve Cup Volumes (percent) | - | 8.3 | - | -10.9 | -24.4 | - | -16.4 | - | ||||||||
| Change in Roast and Ground Coffee Volumes (percent) | - | -9.0 | -23.8 | -22.1 | -6.4 | - | -13.2 | - | ||||||||
| Change in Flavors, Extracts and Ingredients Volumes (percent) | - | 16.0 | 41.5 | 35.6 | 28.9 | - | 24.1 | - | ||||||||
| Change in Green Coffee Sales Volume (percent) | - | -20.6 | 100.9 | 39.9 | 35.9 | - | 39.5 | - | ||||||||
| Change in Tea Volumes (percent) | - | -5.6 | - | - | - | - | - | - |