TICKERS: SDOT

Food Supply Company Makes $53 Million in July

View Important Disclosures for this Article

Source: Streetwise Reports (8/24/23)

Sadot Group Inc. has made topline revenue of $53 million. Read on to see what analysts predict for this company on the rise.

Sadot Group Inc. (SDOT:NASDAQ) announced that it has achieved top-line revenue of over US$53 million for the month of July 2023. This announcement marks the ninth consecutive month in which top-line revenue has exceeded US$45 million and comes on the heels of the company's first-ever profitable quarter. Sadot is an emerging player in the global food supply chain sector.

According to Michael Roper, the CEO of Sadot Group, "Since our pivot to the global agri-foods sector nine months ago, our Company has undergone substantial changes in all facets of our business, including operational verticals, business strategy, and geographical areas of operations. July's top-line results underscore the continuing performance of this strategy. In August, we will be adding our first trades from our newly formed subsidiary, Sadot Latam LLC."

Earlier in July, the company announced that it changed the company name from Muscle Maker Inc. to the Sadot Group Inc. The company trades under the symbol SDOT on Nasdaq.

Goldman forecasts full-year 2024 (FY24) revenue to be US$1.05 billion with US$13.9 million of it coming from the restaurant-related business."

The unaudited financial results included in this press release are based on information available as of July 31, 2023, and management's initial review of operations and financial results as of that date.

They remain subject to change based on the completion of the company's customary quarterly financial closing and review procedures and are forward-looking statements.

The company assumes no obligation to update these statements except as may be required by law. The actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in the company's annual and quarterly filings with the Securities and Exchange Commission (SEC). Further, the company's independent auditor has not reviewed or performed any procedures on the preliminary, unaudited financial results.

Food Prices Running High

Food prices are still above pre-pandemic prices. According to Rick Mills with Ahead of the Herd, last April, the United Nations (UN) World Price Index rose for the first time this year, especially prices for sugar, meat, and rice.

This rise in food prices has been driven in part by the conflict in Ukraine, which has disrupted agricultural exports and inflationary pressures. Rising input costs and extreme weather have also been a factor.

As a result, Nestle, one of the world's largest food companies, has stated that its prices will continue to rise.

A Future of Growth

Sadot LLC and its parent company, Sadot Group Inc., have a record of bringing in impressive revenue. Analyst Rob Goldman predicts that "Sadot Group will first generate a profit in 2024 of an estimated US$14.6 million.

Streetwise Ownership Overview*

Sadot Group Inc. (SDOT:NASDAQ)

^*Share Structure as of 8/24/2023

Source: Thomson Reuters and Sadot Group Inc.

Goldman forecasts full-year 2024 (FY24) revenue to be US$1.05 billion with US$13.9 million of it coming from the restaurant-related business."

Ownership and Share Structure

Insiders own 4.33% of the company. Joey Giamichael owns 3.52% with 1.62 million shares, Kevin James Mohan owns 0.41% with 0.19 million shares, and Michael John Roper owns 0.40% with 0.18 million shares.

Institutions own 34.9% of the company. AGGIA LLC FZ owns 27.10% with 12.49 million shares, Catalytic Holdings LLC owns 2.45% with 1.13 million shares, Thoroughbred Diagnostics LLC owns 2.12% with 0.98 million shares, The Vanguard Group, Inc. owns 1.65% with 0.76 million shares, Geode Capital Management LLC owns 0.77% with 0.35 million shares, Walleye Capital LLC owns 0.44% with 0.20 million shares, and BNY Mellon Asset Management owns 0.37% with 0.17 million shares.

There are 46.1 million shares outstanding, with 28.76 million free float traded shares. The company has a market cap of US$50.71 million. It trades in the 52-week period between US$0.30 and US$1.60.

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Important Disclosures:

Sadot Group Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sadot Group Inc.
Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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