How much money has edbl received from Walmart and the grants
11/11/2024 00:19am
The exact amount of money received by Edible Garden from Walmart and grants is not publicly disclosed. However, we can infer the following:
1. **Revenue Projections**: Edible Garden's revenue projections for specific periods are not disclosed, but it's clear that the company has seen significant growth in certain quarters. For example, the company reported a 27.6% year-over-year increase in revenue for Q1 2024, totaling $3.1 million.
2. **Funding from Grants**: The USDA grants that Edible Garden has received are designed to reimburse organic producers and handlers for costs associated with organic certification and processing/handling certifications. The exact amount of these grants is not disclosed, but they are intended to support the company's financial efforts to become organic certified and to drive research and development for new organic offerings.
3. **Walmart Partnerships**: While the specific financial terms of Edible Garden's partnerships with Walmart are not disclosed, it's clear that these partnerships have contributed to the company's revenue growth. For example, the expansion of distribution with Walmart, including the introduction of sustainably grown Hydro Basil, is expected to generate additional revenue.
4. **Stock Performance**: Following the announcement of certain grants and partnerships, Edible Garden's stock price rose by 17.3%. Although this doesn't directly indicate the amount of funding received, it suggests investor confidence in the company's growth prospects.
In conclusion, while the exact amount of money received by Edible Garden from Walmart and grants is not publicly disclosed, it's clear that these partnerships and funding sources have contributed to the company's revenue growth and strategic initiatives. The company's financial reports and announcements provide evidence of this, although the specific figures are not readily available.