Tapping into the $50B Consumer Spend Where Nutrition and Sleep Intersect, Nightfood (Stock Symbol: NGTF) Pioneers New Snack Category
Nightfood Holdings Inc (OTCQB:NGTF)
TARRYTOWN, NEW YORK, UNITED STATES, October 20, 2021 /EINPresswire.com/ — Tapping into the $50B Consumer Spend Where Nutrition and Sleep Intersect, Nightfood (Stock Symbol: NGTF) Pioneers New Snack Category
Nightfood Ice Cream is Available in over 1,500 Supermarkets, Including Walmart Regions, Divisions of Albertson’s and HEB, and Hundreds of Independent Grocery Stores.
Net Revenue Growth Over 190% Year-Over-Year
National Hotel Rollout Expected
Category Interest from Pepsi, Unilever, and Nestle
Americans spend over $50 billion annually on snacks consumed between dinner and bed. The most popular choices are ice cream, cookies, chips, and candy. In addition to being generally unhealthy, such snacks have the potential to impair sleep quality due to excess fat and sugar before bed.
Nightfood (OTCQB: NGTF) set out to solve this $50 billion consumer problem where ancient, hardwired survival cravings for sweets and fats meet modern consumer needs for better health and quality sleep. The company is pioneering a new snack category in the process.
Global food giants like Nestle, Unilever, and Pepsi have recently expressed interest in nighttime snacking and in using nutrition to help people sleep better. But the company leading the way is NGTF.
Nightfood ice cream is currently available in divisions of major supermarkets such as Walmart and Albertson’s.
NGTF has announced that a national ice cream rollout is being finalized with a leading international hotel chain. Hotel distribution could serve as a major consumer catalyst, accelerating mainstream adoption of the night snack category. Management is targeting availability in 7,500 hotel locations in the United States by the summer of 2022.
The ice cream is the first mainstream snack line from NGTF. Nightfood pints are uniquely formulated by sleep and nutrition experts to be less sleep-disruptive, with less sugar and fat, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.
Compared to regular ice cream, Nightfood contains more tryptophan, vitamin B6, calcium, magnesium, zinc, prebiotic fiber, and casein protein. It also has less sugar, less fat, and a lower glycemic profile. Because of its great taste and unique nutritional profile, Nightfood has been endorsed as the Official Ice Cream of the American Pregnancy Association and is the recommended ice cream for pregnant women.
The NGTF Nightfood brand won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. Nightfood was also named Best New Ice Cream in the 2019 World Dairy Innovation Awards.
In filings, NGTF points out they are a snack company, not an ice cream company. The brand has alluded to additional snack formats to be launched soon such as cookies, chips, and candy.
Fiscal Year 2021 Results – NGTF Well-Positioned to Lead High-Opportunity Consumer Category
On October 14th NGTF announced its financial results for the Fiscal Year ended June 30, 2021.
NGTF reported recent business highlights, including:
Increased net revenue over 190% from previous year. NGTF net revenue for the fiscal year ended June 30, 2021 was $701,246, exceeding previous estimates, compared to $241,673 for the fiscal year ended June 30, 2020.
National hotel rollout. NGTF recently announced the completion of a successful retail pilot test of Nightfood ice cream in lobby shop freezers with a leading global hotel chain. The chain reported robust sales during the test period. Rollout logistics and timeline are now being finalized by the hotel chain, and chainwide distribution of Nightfood is expected to begin in the current quarter or in the first quarter of calendar year 2022. NGTF has engaged iDEAL Hospitality Partners Group to accelerate and support the introduction of NGTF sleep-friendly snacks into additional hotel chains.
Doubled retail points of distribution. In April, NGTF announced the brand had added distribution in over one dozen Walmart regions, more than doubling the brand’s retail footprint to over 1,500 supermarkets. In addition to those Walmart stores, Nightfood is available in Jewel-Osco, Shaw’s and Star Market (both divisions of Albertson’s), Central Market (a division of H-E-B), Rouses Markets, Lowes Foods, Market of Choice, Metropolitan Market and other independent chains and retailers.
Expanded Board of Directors. NGTF appointed venture capitalist Nisa Amoils, Dr. Thanuja Hamilton, a nationally recognized physician and authority in sleep medicine, and consumer goods visionary Tom Morse, co-founder of 5-Hour Energy to the Board of Directors. In addition, NGTF also retained ice cream industry veteran and CPA Jerry Isaacson significantly strengthening the Company’s expertise in ice cream logistics, manufacturing, and procurement.
Strengthened balance sheet. NGTF successfully completed a financing/refinancing round totaling $5,000,000. Funds were used to eliminate all company debt, greatly reduce payables, and support 2021 growth initiatives.
Fiscal Year Financial Highlights (twelve months ended June 30, 2021):
Gross sales increased 27% from $878,849 in the year ended June 30, 2020 to $1,117,847 in the year ended June 30, 2021. This was the first year the NGTF surpassed $1 million in gross sales.
Net revenue increased 190% from $241,673 in the year ended June 30, 2020 to $701,246 in the year ended June 30, 2021.
Loss from operations decreased 8% from $2,723,875 in the year ended June 30, 2020 to $2,509,629 in the year ended June 30, 2021.
Total liabilities decreased by 91% from $5,413,472 in the year ended June 30, 2020 to $462,703 in the year ended June 30, 2021.
Total assets increased by 69% from $932,325 in the year ended June 30, 2020 to $1,572,704 in the year ended June 30, 2021.
Total stockholders’ equity increased from a deficit of $4,481,147 as of June 30, 2020 to $1,110,001 in positive stockholder equity as of June 30, 2021.
Nightfood Announces Successful Hotel Test, Engages iDEAL Hospitality to Scale High-Margin Hotel Vertical
On September 8th NGTF announced the completion of a retail pilot test in the lobby shops of a leading international hotel chain. The test, first announced in March 2021, has been confirmed a success.
As a result, the testing chain has confirmed the decision to fully launch the NGTF Nightfood brand into their lobby shop freezers chain-wide with an expected start date in the fourth quarter of 2021 or the first quarter of 2022.
To fully capitalize on the high-margin hotel opportunity, NGTF has engaged iDEAL Hospitality Partners Group. Led by hospitality industry veteran Jill Dean Rigsbee, iDEAL focuses on introducing and scaling innovative hospitality-related products within the hotel/hospitality market. Rigsbee is the former long-time Director of Business Development for Avendra, North America’s leading hospitality procurement service provider.
iDEAL has been engaged to secure distribution partnerships with additional global hotel brands, oversee hospitality-related business development initiatives, and provide sales and support during the national NGTF hotel rollout.
“Nightfood’s vision is to secure placement in all of the estimated 20,000 hotels in the United States which sell snacks in lobby retail shops,” commented Rigsbee, iDEAL CEO. “Internally, our goal is to have Nightfood’s ice cream pints, and other Nightfood snack products, in more than 7,500 hotel locations by July 31, 2022.”
iDEAL is presently engaged in NGTF sales discussions with several major hotel chains as well as the largest Group Purchasing Organizations in hospitality, representing thousands of additional hotel properties.
Rigsbee continued, “Over the years, hotels have curated high-sugar, high-fat, high-calorie snacks in their lobby shops. We now know such snacks are disruptive and harmful to sleep quality. This was certainly unintentional and is clearly undesirable. We expect hotel executives to quickly rectify this now that sleep-friendly night snacks are finally available to them. Hotels take their obligation to support better sleep for their guests seriously. These sleep-supporting efforts can now extend out of their guestrooms and into their lobby shops. As a result, we expect Nightfood snacks to rapidly attain significant national hotel distribution.”
Widespread hotel distribution can transform NGTF from a middle-of-the-road supermarket player to a powerful and prominent supermarket brand. RxBar built their early mainstream success with distribution in gyms. Oatly uses distribution in coffee shops like Starbucks to rapidly and efficiently scale their supermarket sales in new markets. NGTF plans to do the same with hotels.
For more information on Nightfood, Inc. (OTCQB: NGTF) visit: https://www.nightfood.com
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Nightfood (NGTF) CEO Sean Folkson on The Future of Nighttime Nutrition and Sleep-Friendly Snacking
Source: EIN Presswire