Edible Garden Reports Preliminary 30% Year-over-Year Sales Growth in Vitamins and Supplements for the Second Quarter of 2024

Plans to Develop More Cutting-Edge Formulas and Creative Flavors through Partnership with Nutracom

BELVIDERE, NJ, July 31, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today reported that its Vitamins and Supplements products achieved over 30% year-over-year sales growth for the second quarter.  The Company expects this growth in Vitamins and Supplements products to have a favorable impact on profitability and cash flow from operations for the second quarter.

Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, "We are extremely pleased with the strong performance of our Vitamins and Supplements products, which we believe demonstrate that these higher-margin products are gaining traction in the market. We believe these results are driven by our integrated marketing strategy designed to increase consumer adoption through a variety of promotional and brand awareness activities. The success of these initiatives is best illustrated by the 30% increase in vitamins and supplements sales  over just the past 12 weeks alone.”

"The recent expansion of our product lineup with the addition of two new flavors, ‘Ice Cream Cake’ and ‘Orange Creamsicle,’ introduced late last year, has reinforced our industry reputation as the ‘Flavor Maker.’ Our partnership with Nutracom has been instrumental in our success and we remain committed to pioneering innovative and cutting-edge flavors with them. We are enthusiastic about expanding this partnership by exploring even more creative flavor possibilities that not only set industry trends but also cater to the discerning tastes of our customers,” concluded Kras.

ABOUT EDIBLE GARDEN
Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products backed by Zero-Waste Inspired next generation farming. Offered at over 5,000 stores in the US, Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb software and self-watering in-store displays. The Company currently operates its own state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets in the U.S. Its proprietary GreenThumb 2.0 patented (US Nos.: US 11,158,006 B1, US 11,410,249 B2 and US 11,830,088 B2) software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Its proprietary patented (U.S. Patent No. D1,010,365) Self-watering display is designed to increase plant shelf life and provide an enhanced in-store plant display experience. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way and Vitamin Whey brands. In addition, the Company offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products.