Online meal orders increased 501% over same period 2020
MIAMI BEACH, FL / ACCESSWIRE / November 15, 2021 / Home Bistro, Inc. (OTC PINK:HBIS) ("Home Bistro" or the "Company"), a leading direct to consumer online platform that offers celebrity chef-inspired, gourmet ready-made and lifestyle meals, today reported record revenue of $703,364 for its third quarter ended September 30, 2021, a 135% increase vs the same period in 2020. Online meal orders increased by 501% during the third quarter 2021 vs. the same period in 2020.
Commenting on the Company's results, Zalmi Duchman, Home Bistro's CEO, stated, "We are highly encouraged by the continued growth of our business, which now includes Model Meals, and we expect this momentum to continue when we increase our meal offerings with the upcoming introductions of new specialty cuisine by Ayesha Curry, Roblé Ali and Richard Blais, and with the nationwide roll-out of Model Meals - expanding from its prior limited three state focus. Further, the fourth quarter is traditionally Home Bistro's strongest due to holiday purchases, followed then by the first quarter which has historically been Model Meals' strongest performing quarter given its lifestyle brand appeal. Therefore, we believe we can expect continued solid revenue growth well into 2022."
Mr. Duchman continued, "Subsequent to the third quarter, we announced our partnership with Perfecting Athletes, the health and nutrition company serving over 300 elite professional athletes, supermodels and other accomplished sports and entertainment professionals worldwide. Together, we will introduce their highly sought-after dietary and meal regimens to Home Bistro's customers. Further, we also announced our partnership with the direct-to-consumer wine platform, In Good Taste Wine. Our customers will soon be able to pair their celebrity chef-inspired meals with wines from a carefully chosen selection of varietals from around the world. The complete Home Bistro experience will soon span from appetizer through desert and everything in between and be defined by excellence."
The Company reported an operating loss of ($1,373,846) for the quarter ended September 30, 2021, much of which can be attributed an increase in professional fees to $691,422, marketing expenses of $324,478, expenses associated the integration of Model Meals, relocation and ramp up of the Company's new South-Florida production facility and other non-cash expenses. The Company reported its cash position of $1,410,236 at the end of the third quarter 2021.
To view the complete SEC filing please visit:
https://homebistro.com/pages/investor-relations or
www.sec.gov/ix?doc=/Archives/edgar/data/0001489588/000121390021059429/f10q0921_homebistroinc.htm
About Home Bistro, Inc.
Home Bistro is a leading online platform, www.homebistro.com, that provides for the creation, production, and distribution of direct-to-consumer, heat-to-eat, celebrity chef inspired gourmet meals, which currently include inspirations developed by "Iron Chef" Cat Cora, "Hungry Fan" Chef Daina Falk, Master Chef Claudia Sandoval and soon to launch celebrity chefs Ayesha Curry, Roblé Ali and Richard Blais.
Home Bistro's Model Meals lifestyle brand www.modelmeals.com is a Whole30 and Paleo approved, ready-to-eat, meal prep service, offering a weekly rotating menu that is prepared by professional chefs, using only the highest quality ingredients available, sourced responsibly and locally, and delivered in sustainable, eco-friendly packaging.
Forward-Looking Information
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The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
CONTACT:
Zalmi Duchman, CEO
[email protected]
Ph: 631.694.1111
SOURCE: Home Bistro, Inc.