TORONTO, ON / ACCESSWIRE / May 10, 2023 / - Flow Beverage Corp (OTCQX:FLWBF) is one of the fastest-growing premium and sustainable water companies, specializing in naturally mineral-rich alkaline spring water that's been responsibly sourced and is delivered in renewable packaging. As the mission-driven company works to bring sustainable water to more and more customers around the world, it's made impressive strides toward expanding its market reach and strengthening its balance sheet.
After inking multiple new agreements with major distribution partners across North America, Flow reported some of its strongest financial results yet in Q1 2023, including 40% Flow brand net revenue growth compared to Q1 2021. The rapid expansion and growing market share seem to have caught the attention of investors, who saw shares in the emerging water company soar 40% over the last six months. Here's a look at the market expansion milestones Flow hit recently and how the company plans to leverage them to achieve improved profitability and cash flow throughout 2023.
Flow Entered 2023 With An 88% Increase In In-Store Distribution
In December, Flow announced a new agreement with Starbucks Canada that put Flow water in over 1,000 Starbucks locations across Canada, starting in January. That includes both its original alkaline spring water and its Strawberry Rose flavored spring water.
The following month, Flow launched expanded distribution with Costco which increased the number of Costco locations where Flow water is sold from 15 to 63. January also marked the launch of its line of vitamin-infused waters in Canada.
Last summer, Flow signed a deal with Primo Water Corporation, a leading water solutions provider delivering self-service refill machines, water filtration appliances and multi-gallon bottled water to more than 2 million customers annually.
The agreement signed in August 2022 made Flow's line of premium alkaline spring water available to Primo's existing subscription customer base. That expanded reach adds to Flow's steadily growing ecommerce sales and its existing presence in over 46,000 locations across the United States and Canada including Whole Foods, CVS Pharmacy, Safeway, and dozens of other major retailers.
The sugar-free, calorie-free waters are made without artificial flavors or additives and deliver a high dose of Vitamin C and zinc alongside the naturally-occurring minerals and electrolytes already found in Flow's spring water.
Already available in the United States via Flow's e-commerce site and over 100 Fred Meyer grocery stores, the Canadian launch this year put the vitamin-infused product line into over 800 new locations.
Powering The Fast Paced Expansion
Along with the revenue potential from the expansion achieved so far, Flow reported a combined $31 million in cash generated from the sale of its Verona production facility, a new credit facility and cost-saving restructuring initiatives implemented throughout the past year. With that cash along with the potential capacity to produce over 350 million units per year in its current facilities, the company is confident it can scale operations to keep in pace with the momentum of its fast-paced expansion strategy.
With that strengthened cash position and the company's ongoing efforts to keep expanding distribution through the year, investors will definitely be watching Flow as a potential growth stock for 2023.
Featured photo by Sutulo on Pixabay.
Contact:
Marc Charbin
investors@flowhydration.com
SOURCE: Flow Beverage Corp
View source version on accesswire.com:https://www.accesswire.com/753929/Flow-Beverage-Corps-Steady-Expansion-Strategy-Could-Start-Delivering-Improved-Profitability-In-2023-With-The-Company-Beginning-The-Year-With-An-88-Increase-In-In-Store-Distribution
