NewAge, Inc. (Nasdaq: NBEV), the Colorado-based healthy products company intending to become the world’s leading social selling and distribution company today announced that it anticipates net revenue for the fourth quarter of 2020 to be in the $90 million dollar range, Gross Margin in the 64% – 68% range, with EBITDA to be around breakeven. The company will report its fourth quarter and full-year results on March 16, 2021.
Brent Willis, Chief Executive Officer of NewAge, commented,
“We are pleased that our anticipated fourth quarter revenue will be higher than we anticipated and significantly above expectations. We are seeing strong growth coming from our European and Americas regions and are also seeing renewed growth in Japan, our largest market.
Our global sales force of independent brand partners continue to adapt to the new way of operating an e-commerce business from home, the new multifunctional hub. The convergence between NewAge and ARIIX is also beginning to deliver results and we are on track to achieve our committed cost synergies and deliver positive EBITDA in 2021 as our growth and cost savings translate to positive net income and free cash flow.”
On November 16, 2020, NewAge closed its merger transaction with ARIIX and began fully integrating and converging the two organizations. Accordingly, fourth quarter results for NewAge will include operating results for ARIIX from the November 16 close date forward.
NewAge, Inc will release its full fourth quarter and full year results before the market opens on Tuesday, March 16. The management team will host a conference call with investors at 8:30am ET that same morning. The webcast of the conference call will be broadcast live and available on the investors section of our website at https://newagebev.com/en-us/our-story/investors.
About NewAge, Inc.
NewAge is a purpose-driven firm intending to become the world’s leading social selling and distribution company. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide through primarily a direct route-to-market system. The company competes in three major category platforms including health and wellness, healthy appearance, and nutritional performance and leads a network of more than 400,000 exclusive independent distributors and brand partners around the world.
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