24/7 Market News- BranchOut Food Reports Its Financial Performance and Provides Operational Milestones

August 28, 2024

DENVER, Colo., Aug 28, 2024 (247marketnews.com)- BranchOut Food Inc. (NASDAQ: BOF) reported its financial performance and operational milestones, including $2.83 million in net revenue for the first half of 2024, a 640% increase over the $440,000 in net revenue for the first half of 2023.

Building now expects to reach an estimated $8 million in total revenue for 2024.

BranchOut’s CEO and Founder, Eric Heal, commented, “Our new production facility in Peru represents a pivotal moment for BranchOut.

“We are preparing to bring online three large-scale continuous dehydration machines and an R&D unit, with production expected to commence in October. This expansion will equip us with approximately $40 million in production capacity, offering a competitive advantage through our GentleDry Technology and Peru’s low operational costs, which will drive both strong margins and profitability.

“We’re already seeing heightened demand, and with this new facility, we anticipate attracting new customers, setting us up for a stellar 2025.”

BranchOut aims to pay off all its outstanding debt by the end of next year.

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