NewAge, Inc. develops, markets, sells, and distributes healthy products in the United States, Japan, China, and internationally. The company operates in two segments, Direct / Social Selling and Direct Store. It provides health and wellness, energy drink, essential oil and anti-aging skincare, cosmetic, beverage, snacks, water and air filtration, and personal care products, as well as weight management, nutritional supplement, nutraceutical, and slenderiize products; diagnostic products, such as DNA testing and diagnostic kits and products; and CBD products. The company offers its products under the Tahitian Noni, LIMU, Zennoa, LIMU Blue Frog, Hiro Natural, TeMana, Lucim, Reviive, Puritii, and MaVie brands. It sells its products directly to customers, as well as through distributors, e-commerce sites, and direct-store-delivery systems. The company was formerly known as New Age Beverages Corporation and changed its name to NewAge, Inc. in July 2020. NewAge, Inc. was incorporated in 2010 and is headquartered in Denver, Colorado.
IPO Year:
Exchange: NASDAQ
Website: newage.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/10/2021 | $6.50 → $6.00 | Buy | Roth Capital |
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Roth Capital reiterated coverage of NewAge with a rating of Buy and set a new price target of $6.00 from $6.50 previously
SALT LAKE CITY, July 08, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company" or "NewAge"), today announced that Kevin Manion, Chief Financial Officer, departed the Company as of July 1, 2022. Lawrence Perkins, who along with his firm SierraConstellation Partners LLC have been engaged to provide Chief Restructuring Officer (CRO) and other services to the Company, will assume the role of the Company's principal financial officer on an interim basis. "On behalf of NewAge, I want to thank Kevin for his contributions to our team. Kevin joined us in the middle of a major integration, and he resolved many operating issues for us. We wish him all the best," said Ed Brennan, NewAge'
SALT LAKE CITY, March 03, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), a direct selling company with a primary focus on healthy products, today announced the appointment of Michele Crocker to its Board of Directors. "I am delighted to welcome Michele to our Board of Directors," said Ed Brennan, Chairman of NewAge's Board. "Her strong background in the direct selling industry and her expertise in implementing programs that significantly improve recruitment, retailing and retention, will complement our existing Board and provide important insights into developing our most valuable asset – our Brand Partners." Ms. Crocker is Chief Operating Officer at CIENCE, a data company offering
DENVER, Dec. 01, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), the Colorado-based direct-to-consumer (D2C) organic and healthy products company, announced today the appointment of Judith Hammerschmidt to its Board of Directors. "Judy has an impressive background having spent many years as outside counsel and as a board member helping companies expand in highly regulated industries," said Brent Willis, NewAge's Chief Executive Officer. "We enthusiastically welcome Judy to our Board and look forward to drawing upon her broad experience as we continue our growth and expansion for the benefit of our many stakeholders." Ms. Hammerschmidt has more than three decades of experience in cor
DENVER, Nov. 03, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), the Colorado-based direct-to-consumer (D2C) organic and healthy products company, today announced the appointment of Jennifer Grafton to the position of Senior Vice President and General Counsel. "All of us are really happy to welcome Jennifer to our leadership team," said Brent Willis, Chief Executive Officer of NewAge. "She brings extensive knowledge and experience stemming from 16 years in public company corporate counsel service to NewAge. In addition to her expertise in the areas of SEC compliance, corporate governance and risk mitigation, she also negotiated several large-scale M&A transactions and oversaw multipl
SALT LAKE CITY, March 15, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), a direct selling company with a primary focus on healthy products, today announced its fourth quarter and full year 2021 earnings release and conference call will be rescheduled to allow additional time to complete its Annual Report on Form 10-K. The Company will be filing a Form 12b-25, Notification of Late Filing, on March 16, 2022, which will provide the Company with a 15-day extension to file its Form 10-K. The Company expects to report financial results for the quarter and full year ended December 31, 2021, on or before March 31, 2022, the expiration date of the extension period. Updated conference call det
SALT LAKE CITY, Feb. 25, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), a direct-to-consumer (D2C) healthy products company, today announced that it will release financial results for its fourth quarter and full year ended December 31, 2021, after the market close on Wednesday, March 16, 2022. A conference call and audio webcast with analysts and investors will be held that afternoon at 5:00 p.m. Eastern Time/3:00 p.m. Mountain Time to discuss the results and answer questions. Live conference call: 1-877-407-3982 (domestic) or 1-201-493-6780 (international) with conference ID: 13727435.Live and archived webcast will be available here and on the Events page of NewAge's investor rela
DENVER, Nov. 09, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), the Colorado-based direct-to-consumer (D2C) organic and healthy products company, today announced financial results for the third quarter of 2021. Third Quarter 2021 Highlights -Net revenue increased 59% to $100 million compared to $63 million in the third quarter of 2020 -Gross profit was $66 million compared to $37 million in the prior year third quarter, an increase of $29 million -Gross margin reached 66.3% of net revenue compared to 59.8% of revenue in the prior year third quarter, up 6.5 points -Net income improved $11.4 million to ($2.7) million, or ($0.02) per basic share -Adjusted EBITDA1 improved $4.0 million t
DENVER, Oct. 21, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), a Colorado-based D2C (direct-to-consumer) organic and healthy products company, today announced that it will release financial results for its third quarter ended September 30, 2021, after the market close on Tuesday, November 9, 2021. A conference call and audio webcast with analysts and investors will be held that afternoon at 5:00 p.m. Eastern Time/3:00 p.m. Mountain Time to discuss the results and answer questions. Live conference call: 1-800-926-9801 (domestic) or 1-303-223-0113 (international) with conference ID: 21998666.Live and archived webcast will be available on the Conference Calls page of NewAge's inv
DENVER, Aug. 09, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), the Colorado-based direct-to-consumer (D2C) organic and healthy products company, today announced record financial results for the second quarter of 2021 with a net revenue of $124 million, net income of $17.4 million, adjusted EBITDA1 of $1.7 million, and basic earnings per share of $0.11. For the three months ending June 30, 2021, net revenue was $124 million, an increase of $61 million or 98%. Gross profit for the quarter was $84 million, an increase of $46 million or 120%, resulting in a gross margin of 67.6%, compared to a 60.8% in the prior-year period, an increase of 6.8 percentage points. Net income was $17.4 mi
DENVER, Aug. 03, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), the Colorado-based D2C (direct-to-consumer) organic and healthy products company, today announced that it will release financial results for its second quarter ended June 30, 2021, on Monday, August 9, 2021. The company will hold a conference call and webcast for investors at 5:00 p.m. Eastern Time that same day. Interested investors can dial into the conference call to hear the details of management's update and participate in a question-and-answer session. Date: Monday, August 9, 2021Time: 5:00 p.m. Eastern TimeToll-free dial-in number: 1-855-327-6838International dial-in number: 1-604-235-2082Conference ID: 10016023
SALT LAKE CITY, Sept. 09, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (OTC:NBEVQ) (the "Company"), the Utah-based direct-to-consumer (D2C) organic and healthy products company, today announced that its wholly-owned subsidiaries, NABC, Inc. and NABC Properties, LLC (together, "NABC"), have entered into a definitive agreement to sell the legacy direct store distribution ("DSD") division to Legacy Distribution Group, a Colorado-based distribution company. The transaction is expected to be completed in the fourth quarter of 2022, and closing will be subject to court approval in the Company's pending bankruptcy case. The Company believes the DSD business is one of the largest independent distributo
SALT LAKE CITY, Sept. 08, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (the "Company") today announced that its common stock has been suspended from trading on The Nasdaq Stock Market due to its voluntary filing for relief under Chapter 11 of the United States Bankruptcy Code on August 30, 2022 and the Company's inability to remain compliant with the listing requirements of The Nasdaq Stock Market. As previously disclosed, the Company does not intend to appeal the suspension and anticipated delisting of its stock from The Nasdaq Stock Market. Effective September 8, 2022, the Company's common stock is expected to begin trading on the OTC Market under the trading symbol "NBEVQ." Investors can find
SALT LAKE CITY, Sept. 02, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company") today announced that the U.S. Bankruptcy Court for the District of Delaware has granted the Company interim approval for first day motions related to its Chapter 11 restructuring. The approved motions will support the Company's ongoing operations during its financial restructuring process. The Court granted the Company access to a debtor-in-possession ("DIP") financing facility of $16 million provided by DIP Financing, LLC, which combined with the Company's projected revenues, will support its operations during the Chapter 11 process. The Court has also authorized the Company to continue paying
SALT LAKE CITY, Aug. 30, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company"), the Utah-based direct-to-consumer (D2C) organic and healthy products company, today announced that on August 30, 2022 the Company and certain of its subsidiaries, Ariix LLC, Morinda Holdings, Inc., and Morinda, Inc. (collectively, the "Debtors"), each filed a voluntary petition for relief under chapter 11 ("Chapter 11") of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"), thereby commencing Chapter 11 cases to facilitate a value-maximizing sale process. The Company has determined that the Chapter
SALT LAKE CITY, Aug. 18, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company" or "NewAge"), announced that on August 12, 2022 it received an additional delinquency notice from the Nasdaq Stock Market, dated August 11, 2022 (the "August Notice"), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") due to the Company's failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the "June 30 Form 10-Q") with the Securities and Exchange Commission (the "SEC"). The Rule requires listed companies to timely file all periodic financial reports with the SEC. As previously disclosed, the Company received notice
SALT LAKE CITY, July 08, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company" or "NewAge"), today announced that Kevin Manion, Chief Financial Officer, departed the Company as of July 1, 2022. Lawrence Perkins, who along with his firm SierraConstellation Partners LLC have been engaged to provide Chief Restructuring Officer (CRO) and other services to the Company, will assume the role of the Company's principal financial officer on an interim basis. "On behalf of NewAge, I want to thank Kevin for his contributions to our team. Kevin joined us in the middle of a major integration, and he resolved many operating issues for us. We wish him all the best," said Ed Brennan, NewAge'
SALT LAKE CITY, June 08, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company"), the Utah-based direct-to-consumer (D2C) organic and healthy products company, today announced that its Board of Directors has initiated a process to evaluate potential strategic alternatives to maximize shareholder value. As part of the process, the Board will consider a full range of strategic alternatives including available financing alternatives, a potential financial restructuring or a reorganization, merger, sale or other strategic transaction. The Company has retained Houlihan Lokey as its financial advisors to assist with the strategic review process. In addition, the Company has reta
SALT LAKE CITY, May 18, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV), a direct selling company with a primary focus on healthy products, today announced that Nutrifii™ Renew has joined 33 other NewAge products in being certified by the globally renowned Cologne List® (Kölner Liste), an independent scientific laboratory that rigorously tests products to verify they are free from substances prohibited in competitive sports. Continued Excellence"Being able to add Nutrifii Renew to our already-extensive list of products certified by Cologne List is a testament to the quality of not only Renew, but the 33 other products that have received the same certification," said Deanna Latson, New
SALT LAKE CITY, May 17, 2022 (GLOBE NEWSWIRE) -- NewAge, Inc. (NASDAQ:NBEV) (the "Company" or "NewAge"), announced that it received an additional delinquency notice from the Nasdaq Stock Market on May 12, 2022 notifying the Company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") due to the Company's failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC"). The Rule requires listed companies to timely file all periodic financial reports with the SEC. As previously disclosed, the Company received a notice from Nasdaq on April 1, 2022 regarding its non-complia
SALT LAKE CITY, April 04, 2022 (GLOBE NEWSWIRE) -- As previously announced, on March 16, 2022, NewAge, Inc. (NASDAQ:NBEV) (the "Company" or "NewAge"), filed a Notification of Late Filing on Form 12b-25 indicating that the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the "Annual Report") would be delayed. In addition, on March 31, 2022, the Company filed a Form 8-K indicating that the Company would be unable to file its Annual Report within the 15-day extension. As expected, on April 1, 2022, the Company received a letter from Nasdaq stating that, as a result of the delay, the Company is not in compliance with the timely filing requirement for contin
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NewAge's (NASDAQ:NBEV) short percent of float has fallen 28.67% since its last report. The company recently reported that it has 3.07 million shares sold short, which is 2.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.1 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest i
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