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OFFON

THE HONEST COMPANY, INC.

(HNST)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 12/03 11:05:26 am
7.87 USD   -3.55%
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Honest : Naomi Osaka-backed Sweetgreen's revenue surges ahead of NYSE listing

10/25/2021 | 05:45pm EST

Oct 25 (Reuters) - Tennis star Naomi Osaka-backed Sweetgreen Inc's quarterly revenue surged by nearly three-fourths, according to a filing https://bit.ly/3EeBx1p for an initial public offering (IPO) by the salad chain that was made public on Monday.

Plant-based food companies have shot to prominence in recent years on interest from millennials and generation Z consumers who are willing to spend more on healthy and environment-friendly options.

Sweetgreen, which had confidentially filed for a listing on the New York Stock Exchange in June, reported revenue of $95.84 million in the quarter to Sept. 26. Its net loss narrowed to $36.9 million, from $86.9 million a year earlier.

The California-based company, whose other investors include T.Rowe Price, Lone Pine Capital and D1 Capital Partners, was founded in 2007 and has 140 restaurants in 13 states and Washington, D.C.

It was valued at $1.8 billion after a funding round earlier this year, according to reports https://www.cnbc.com/2021/06/21/sweetgreen-reportedly-files-for-initial-public-offering.html.

Plant-based retail sales in the United States soared 27% in 2020 to $7 billion, according to a report by the Good Food Institute and the Plant-Based Foods Association.

The rising interest in sustainability-focused startups has also prompted Hollywood star Jessica Alba's Honest Co and Oprah Winfrey-backed Oatly Group AB to tap the public markets.

Plant-based burger maker Impossible Foods is looking at several ways to go public, Reuters reported in April.

Goldman Sachs & Co, J.P. Morgan, Morgan Stanley and Allen & Co are among the underwriters for Sweetgreen's IPO.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
OATLY GROUP AB -2.55% 8.03 Delayed Quote.0.00%
THE HONEST COMPANY, INC. -3.49% 7.89 Delayed Quote.0.00%
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Financials (USD)
Sales 2021 324 M - -
Net income 2021 -36,3 M - -
Net cash 2021 89,4 M - -
P/E ratio 2021 -20,5x
Yield 2021 1,59%
Capitalization 743 M 743 M -
EV / Sales 2021 2,02x
EV / Sales 2022 1,75x
Nbr of Employees 191
Free-Float 92,2%
Chart THE HONEST COMPANY, INC.
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The Honest Company, Inc. Technical Analysis Chart | HNST | US4383331067 | MarketScreener
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Mean consensus BUY
Number of Analysts 9
Last Close Price 8,16 $
Average target price 13,69 $
Spread / Average Target 67,7%
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Managers and Directors
Nikolaos A. Vlahos Chief Executive Officer & Director
Kelly J. Kennedy Chief Financial Officer & Executive Vice President
James D. White Chairman
Sharareh Parvaneh Chief Information Officer
Jeremy Liew Independent Director
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