Sadot Group Inc. Reports Significant Revenue Increase for 2023

Sadot Group Inc. (NASDAQ:SDOT), a growing entity in the global food supply sector, has announced a considerable rise in its 2023 revenue, reaching $726.7 million, up from $161.7 million in 2022. This growth primarily comes from the performance of its Sadot Agri-Foods division, launched in late 2022, that has significantly contributed to the company's financial advancements. Similarly, adjusted EBITDA shifted from a $2.0 million loss in 2022 to a gain of $0.1 million in 2023.

The company has also noted a substantial increase in total assets, from $27.2 million in the previous year to $178.1 million. However, cash reserves saw a decrease to $1.4 million, down from $9.9 million, due to strategic investments aimed at revenue and margin enhancement. In line with its focus on agri-foods, Sadot Group is exploring the divestment of its restaurant and food prep operations, engaging Lisiten Associates for potential sales. CEO Michael Roper emphasized the transformation and growth, marking the period as a significant phase of diversification for Sadot Group.

This announcement came ahead of a planned conference call to discuss the detailed financial outcomes, inviting stakeholders and interested parties to gain further insights into the company's operations and strategic direction.