Transitioned from a core controlled environment agriculture platform to an innovation-driven consumer packaged goods business focusing on higher-margin opportunities.

Expanded retail distribution to nearly 6,000 locations, driven by new placements with Kroger, Weis Markets, and Safeway.

Attributed Q4 gross profit losses to deliberate, front-loaded investments in onboarding major retail accounts to secure 2026 shelf space.

Achieved double-digit growth in cut herbs and continued strength in the vitamin and supplement portfolio across domestic and international markets.

Strategically exited low-margin floral and lettuce categories, which accounted for approximately $1 million in 2024 revenue, to focus on more profitable segments.

Leveraged a 'Farm-to-Formula' approach to enter the ready-to-drink (RTD) category, utilizing existing sustainable manufacturing infrastructure.

Maintained a 98% in-stock and acceptance rate with major retailers, which management cites as a key driver for being awarded new product categories.

Projecting a return to normalized gross margins in 2026 as new retail programs scale and third-party procurement costs decline.

Developing a state-of-the-art RTD manufacturing initiative at the Midwest facility in partnership with Tetra Pak to meet massive scale requirements.

Targeting the global RTD market, which is estimated at $842.5 billion in 2025 and projected to reach $1.26 trillion by 2033.

Anticipating the RTD segment to deliver margins in the 20% to 30% range, significantly higher than the core produce business.

Planning to reach the marketplace with new RTD products toward the tail end of 2027, focusing on sports, performance, and GLP-1 supportive nutrition.

SG&A expenses increased to $15.3 million for the full year, primarily driven by non-recurring costs related to the NaturalShrimp asset acquisition.

Reduced total debt by approximately $0.6 million year-over-year while improving stockholders' equity through preferred stock issuance.

Identified the 'Pickle Party' brand as a 'sleeper' category with significant growth potential within the expanded CPG portfolio.

Secured first international CPG shipment of Kick Sports Nutrition to PriceSmart, marking a strategic entry into markets beyond domestic retail.

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Management expects CPG and RTD products to provide more robust and stable margins because they avoid the 'shrink' issues inherent in fresh produce.

Core CEA business is expected to return to high single-digit growth, while the nutraceutical business is trending toward 20% year-over-year growth.

Blended margins for the co-manufactured nutraceutical portfolio are expected to land in the low double digits to mid-teens.

The initial focus will be on the protein segment, including private label development for a major retailer and the company's own 'Kick' and 'Jealousy' brands.

Management aims to 'sell out' the plant's capacity within the next 90 days, targeting a capacity of hundreds of millions of units within a few years.

The facility will split production between proprietary brands, co-manufacturing for third parties, and private label products for major supermarket chains.

The company is working with local and state authorities to secure incentives for the significant CapEx required to retrofit the building and purchase machinery.

Management declined to provide specific dollar figures for CapEx but emphasized their experience with similar large-scale projects in New Jersey and Grand Rapids.

The facility is expected to be operational and serving the marketplace by late 2027.

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