EPS Growth of 28% Year Over Year to $(3.60)Adjusted EBITDA1 Growth of 27% Year Over Year to $(1.4) MillionAdjusted EBITDA Margin1 of (18)%, a 299 Basis Point Expansion Year Over Year TAMPA, Fla., May 17, 2024 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (NYSE:BTTR) (the "Company" or "Better Choice"), a pet health and wellness company, today announced its results for the first quarter ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS Net revenue of $7.9 million Gross margin of 33% Net loss improved 19% to $(2.8) million Earnings (loss) per share ("EPS") improved 28% to $(3.60) per share Adjusted EBITDA1 improved 27% year over year to $(1.4) million Adjusted EBITDA margin1 improved 299 basis points year over year to (18)% During the first quarter of 2024, Better Choice generated $7.9 million in net sales, with approximately 75% of volume driven by its Halo Holistic® product line across its E-Commerce and International channels. The Company successfully launched its Halo Elevate line on Chewy, where it's gaining traction and consumer satisfaction with an average product rating of 4.6 stars. "We are executing a digital first strategy in our domestic business and have implemented marketing investment shifts to grow brand awareness and discoverability," says Kent Cunningham, CEO of Better Choice. "We are focused on optimizing our portfolio and addressing consumer barriers to purchase. We have improved our inventory levels by approximately 50% in the last 15 months, and have sustained improvement in fill rates to an average of 96% for the quarter," continues Mr. Cunningham. "The positive trend realized in adjusted EBITDA1 and EPS are a result of the continued organizational change management as we continue to move the business towards profitable growth." 1 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. Reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release.   Better Choice Company Inc.Unaudited Condensed Consolidated Statements of Operations(Dollars in thousands)       Three Months Ended March 31,   2024   2023 Net sales $ 7,903     $ 9,237   Cost of goods sold   5,289       5,996   Gross profit   2,614       3,241   Operating expenses:       Selling, general and administrative   5,080       6,496   Total operating expenses   5,080       6,496   Loss from operations   (2,466 )     (3,255 ) Other expenses:       Interest expense, net   (362 )     (229 ) Total other expense, net   (362 )     (229 ) Net loss before income taxes   (2,828 )     (3,484 ) Income tax expense   2       —   Net loss available to common stockholders $ (2,830 )   $ (3,484 ) Weighted average number of shares outstanding, basic   786,745       692,615   Weighted average number of shares outstanding, diluted   786,745       692,615   Net loss per share available to common stockholders, basic $ (3.60 )   $ (5.03 ) Net loss per share available to common stockholders, diluted $ (3.60