Simply Better Brands raises annual outlook on better-than-expected Q2 results

• Simply Better Brands (OTCQB:PKANF) reported Tuesday Q2 2022 preliminary results with sales increased to $16.8M (+39% Q/Q and +440% Y/Y).
• Gross margin stood at 69% vs. 59% in prior year quarter.
• The company told PureKana and TRUBAR brands both achieved positive adjusted EBITDA margin in the months of April and May.
• 2022 Outlook Raised: Net revenue now expected to range between $50-$55M vs. prior guidance of $40-$42M.
• Gross margin expected between 63%-65% from prior 58-60%.
• Simply Better Brands further added it continues its expectation to achieve positive Adjusted EBITDA for fiscal 2022.
• Full financial results for the quarter are scheduled to be released on Aug. 30, 2022.
• Earlier (June 07): Jones Soda, Simply Better Brands terminate acquisition-related LOI