Disruptive snack startup gives late-night eaters -
and investors - a healthy alternative
Takeaways
- Nightfood is pioneering the new food segment of healthy foods
for late-night snackers
- Its premiere product is a lower-sugar, lower-fat ice cream
branded Sleep-Friendly, which is already available in 2,000 grocery
stores throughout the U.S.
- After a recent private equity placement, Nightfood is debt-free
and had $1.4 million in dry powder
New York, New York -- July 13, 2021 -- InvestorsHub
NewsWire -- via PCG Digital -- It's old, familiar, dependable
advice: Don't eat right before bed. It's also not necessarily true.
Pigging out before bed is a bad idea because it can lead to weight
gain, disrupted sleep and a bunch of other issues. But according to
Healthline, a light,
protein-packed nibble - especially if you're legitimately
hungry - might be the best thing for you.
Even so, a Harris
Poll online survey found that more than half of those
snacking at night associated their behavior with guilt and
unhealthiness. They likely don't even know that there might be an
ideal, healthful-yet-satisfying snack. Many people won't even know
what it is their bodies are telling them they need to settle into
restful, restorative sleep, according to sleep
coach Sanchita Sen. Late-night junk food could just give you
heartburn, but is it really nuts, berries and avocado toast you're
craving?
All this presents the market vacuum identified by Nightfood
(OTCQB:
NGTF). After 11 years in business - six as a public company -
it plans to parlay the success of its ice cream into a broad-based
category in which it Nightfood would have a first-mover
advantage.
In addition to low fat and sugar contents, Nightfood's nine
flavors of ice cream also offers casein protein and prebiotic fiber
to promote sleep and recovery. It has proven healthful enough to be
chosen as the official
ice cream of the American Pregnancy Association.
Nightfood has already gotten it into freezers at Walmart,
Albertsons, Kroger and other grocers - nearly 2,000 outlets
throughout the U.S.
Growth market
Of course, there's more to late-night snacking than ice cream -
although that's as good a place as any to start. Nightfood
estimates that Americans - eight out of ten of them - spend $50
billion annually on after-dinner snacks. The growth-stage company
expects that to grow in the wake of the pandemic shutdown, as
long-established sleep rhythms have neither settled into a new
normal nor reverted to the old normal.
Nightfood, based in Tarrytown, N.Y., closed a $4.5
million round of Reg D financing in April. After retiring
all debt and convertible notes, this left Nightfood with more than
$1.4 million in cash for strategic opportunities. This provides
some dry powder to enable the company to develop or acquire new
product lines beyond the current ice cream offerings.
Meanwhile, Nightfood is trying out new distribution channels as
well as new products. A pilot program is currently underway
offering the company's ice cream in the lobby shops of a global
hotel group.
This awareness of market forces could be crucial to the
company's ability to thrive in the competitive food products
industry. Its mega-caps are investing in their own late-night
lines, which just tells the company's executive team that they're
onto something.
"I take validation in PepsiCo launching their Driftwell
sleep-supporting beverage," CEO Sean Folkson told shareholders,
"and by Unilever, the world's largest ice cream company, launching
a year-long
research study to understand how sleep quality can be
improved through diet and nutrition."
Even before these conglomerates expressed any interest in this
niche, though, he brought on board Dr. Michael Breus, a renowned
sleep psychologist and now the company's scientific
advisor.
Just desserts
Nightfood has had a persistent issue with profitability and cash
flow from operations. This has led to volatility in its share
price, currently around $0.27 with a $21 million market cap. Still,
even before April's cash infusion, NGTF was rebounding off a
trough. That likely had to do with improvement in fundamentals.
Folkson's team had found ways to increase revenues by 28.7% last
fiscal year, compared with the industry average 1.1%. Nightfood
also cut SG&A expenses by almost one-third.
Has the company rebounded? Will Nightfood feast while its
competitors sleep? The company is committed to improving the eating
habits, sleeping habits and overall health of all late-night
noshers everywhere. All it requires is a public with an appetite
for nutritious bedtime snacks - and investors with an appetite for
a little risk.
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