Organto Foods Reports Fiscal 2024 Financial Results

Organto Foods Inc. has released its audited financial results for the fiscal year ending in December 2024, indicating positive momentum. The company achieved significant restructuring, refocused strategies, and cost reduction by selling three subsidiaries. Fiscal 2024 sales increased 48% year-over-year to $20.7 million. Q4 sales hit a record high of $6.5 million, driven by increased banana sales despite liquidity issues.

Gross profit rose to $1.8 million, a 35% increase from last year. However, the company reported an operating loss of $2.4 million, partly due to one-time expenses. Still, net loss from continuing operations decreased significantly to $3.3 million, compared to $5.6 million in 2023, partly due to gains from subsidiary sales and dissolutions.

The business anticipates ongoing strong momentum and a shift to positive cash flow in 2025, supported by completed private placements and the expected conversion of debentures to equity. The leadership remains committed to building a sustainable, value-driven company in the healthy foods market.