Stryve Foods has started a formal process to assess its options after securing multiple “expressions of interest”.
In April, the US meat-snacks group said it had started weighing up its “strategic alternatives” in a bid to drive the growth of the business.
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Alongside a trading update yesterday (18 November), Stryve said it had received “multiple inquiries from interested parties”.
It added: “The company has received multiple inbound expressions of interest and has initiated a formal process to evaluate potential opportunities.”
Just Food has asked Stryve for further details.
The company issued “preliminary” financial results for the first nine months of its financial year.
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By GlobalDataNet sales fell to $13.4m from $16.5m a year earlier.
According to Stryve, working-capital constraints, beef supply issues and higher input costs limited the company’s ability to meet demand, hurting both revenue and gross margins.
However, Stryve’s net losses narrowed 21% to $7.9m amid a fall in operating expenses.
For 2025 as a whole, the company expects a net loss of approximately $8m, a 53% improvement year-over-year.
It projects flat revenue overall but with “meaningful acceleration” in the fourth quarter.
Stryve is forecasting an annual EBITDA loss of $4m versus $9.5m in 2024.
It also expects a 15% reduction in operating expenses to roughly $12.6m.
The company expects revenue of approximately $7m in the fourth quarter, up 59% from the prior year.
It expects EBITDA to reach “near break-even” compared to a $2.7m loss in Q4 2024.
“Corrective actions, including price advances and productivity initiatives combined with improved inventory management, are driving a stronger fourth-quarter outlook,” the company said.
Stryve stressed that securing external debt or equity financing remains critical.
“These plans are not entirely within the company’s control including our ability to raise sufficient capital on favourable terms, if at all.”
CEO Chris Boever added: “The expected break-even EBITDA in the fourth quarter marks a clear inflection point, toward sustained profitability.”
Stryve offers air-dried meat snacks marketed under the brand names Stryve, Kalahari, Braaitime and Vacadillos.
The company also produces “human-grade” pet treats under the brands Two Tails and High Steaks.
