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FREE Whole Earth Brands

Whole Earth Brands is a global food company enabling healthier lifestyles and providing access to premium plant-based sweeteners, flavor enhancers and other foods through our diverse portfolio of trusted brands and delicious products, including Whole Earth Sweetener®, Swerve®, Pure Via®, Equal® and Canderel®. With food playing a central role in people's health and wellness, Whole Earth Brands' innovative product pipeline addresses the growing consumer demand for more dietary options, baking ingredients and taste profiles. Its world-class global distribution network is the largest provider of plant-based sweeteners in more than 100 countries with a vision to expand its portfolio to responsibly meet local preferences. It is committed to helping people enjoy life's everyday moments and the celebrations that bring people together.

Company profile

Ticker
FREE, FREEW
Exchange
CEO
Albert Manzone
Employees
Incorporated
Location
Fiscal year end
Former names
Act II Global Acquisition Corp.
SEC CIK
Subsidiaries
Merisant Company • Merisant Luxembourg Sarl • Mafco Worldwide LLC • Extraits Vegetaux ET Derives, SAS • Zhangjiangang Free Trade Zone Mafco Biotech Co., Ltd. • Swerve, L.L.C. • Swerve IP, L.L.C. ...

FREE stock data

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Calendar

9 Aug 21
17 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 24.05M 24.05M 24.05M 24.05M 24.05M 24.05M
Cash burn (monthly) 1.25M 3.13M (positive/no burn) 1.73M 1.29M 1.57M
Cash used (since last report) 4.49M 11.23M n/a 6.22M 4.61M 5.65M
Cash remaining 19.57M 12.83M n/a 17.84M 19.44M 18.4M
Runway (months of cash) 15.6 4.1 n/a 10.3 15.1 11.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Oct 21 Andrew Rusie RSU Common Stock Sale back to company Dispose D No No 0 25,568 0 0
8 Oct 21 Andrew Rusie RSU Common Stock Sale back to company Dispose D No No 0 71,630 0 0
28 Sep 21 Brian Litman RSU Common Stock Grant Acquire A No No 0 1,022 0 1,022
28 Sep 21 Brian Litman RSU Common Stock Grant Acquire A No No 0 1,021 0 1,021
28 Sep 21 Brian Litman RSU Common Stock Grant Acquire A No No 0 6,811 0 6,811
14 Sep 21 John M. McMillin Common Stock Buy Acquire P No No 11.9722 1,500 17.96K 31,294
18 Mar 21 Andrew Rusie RSU Common Stock Grant Acquire A No No 0 10,800 0 10,800
18 Mar 21 Andrew Rusie RSU Common Stock Grant Acquire A No No 0 8,284 0 8,284

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Risks
  • We must expend resources to maintain consumer awareness of our brands, build brand loyalty and generate interest in our products. Our marketing strategies and channels will evolve and our programs may or may not be successful.
  • Our Branded CPG segment may be adversely affected by concentration in our manufacturer, supplier and distributor base.
  • Our ability to reduce costs of operation and meet increasing customer requirements or preferences for compliance with GFSI depends on timely and successful completion of our factory reorganization project.
  • Competition and consolidation in the functional ingredients industry may reduce our sales and profit margins.
  • Many of our employees belong to labor unions, and strikes, work stoppages and other labor disturbances could adversely affect our operations and could cause our costs to increase.
  • Changes in our relationships with our suppliers could have a material adverse effect on our Flavors & Ingredients business, financial condition and results of operations.
  • We are subject to risks associated with economic, climatic or political instability in countries in which we source licorice root and intermediary licorice extract.
  • The ongoing novel coronavirus (COVID-19) outbreak and consequent travel and other restrictions could adversely affect our business.
  • If we fail to successfully implement our growth strategies on a timely basis, or at all, our ability to increase our revenue and operating profits could be materially and adversely affected.
  • Changes in consumer preferences could decrease our revenues and cash flow.
  • We are heavily dependent on certain customers for a significant percentage of our net revenues.
  • Our Business is subject to transportation risks.
  • Our Business may be adversely affected by conditions in the countries where we operate.
  • Negative information, including inaccurate information, about us on social media may harm our reputation and brand, which could have a material and adverse effect on our business, financial condition and results of operations.
  • The United Kingdom’s withdrawal from the European Union could have an adverse impact on our business, financial condition, operating results and cash flows.
  • Our international operations involve the use of foreign currencies, which subjects us to exchange rate fluctuations and other currency risks.
  • Inability to protect our trademarks and other proprietary rights could damage our competitive position.
  • Any acquisitions, partnerships or joint ventures that we enter into could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations.
  • We may become involved in litigation that may materially adversely affect us.
  • Changes in tax laws or regulations may increase tax uncertainty and adversely affect results of our operations and our effective tax rate.
  • Stock repurchases could increase the volatility of the trading price of our common stock and diminish our cash reserves, and we cannot guarantee that our stock repurchase plan will enhance long-term stockholder value.
  • We face risks associated with our defined benefit pension plan obligations.
  • We may be exposed to the threat of cyber-attacks and/or data breaches.
  • Our credit facilities contain financial and other covenants. The failure to comply with such covenants could have an adverse effect.
  • The price of our common stock and warrants and may be volatile.
  • We may have tax consequences and other liabilities as a result of the Business Combination.
  • The historical financial results of Merisant and MAFCO may not be indicative of what our actual financial position or results of operations would have been.
Management Discussion
  • Product revenues, net. Product revenues, net for the three months ended June 30, 2021 were $126.5 million. Product revenues, net for the combined three months ended June 30, 2020 totaled $66.8 million including $4.5 million for the period from June 26, 2020 through June 30, 2020 and $62.4 million from April 1, 2020 through June 25, 2020. Product revenues, net increased $59.7 million, or 89.3%, in the three months ended June 30, 2021 due to a $56.0 million increase in product revenues in the Branded CPG segment and a $3.6 million increase in product revenues at Flavors & Ingredients. The increase in Branded CPG revenues was due to $52.0 million of revenues related to the acquisitions of Wholesome and Swerve, $1.0 million of organic Branded CPG growth, and $3.0 million impact from foreign exchange, as further described below.
Content analysis
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