Farmmi, Inc. (FAMI) Bundle
A Brief History of Farmmi, Inc. (FAMI)
Company Foundation
Farmmi, Inc. was founded in 2015 in China, focusing on the production and distribution of edible mushrooms and other agricultural products. The company is recognized for its innovative approach to agricultural practices and supply chain management.
Initial Public Offering (IPO)
Farmmi went public on the NASDAQ stock exchange on December 12, 2017, under the ticker symbol FAMI. The IPO raised approximately $6.6 million, with an initial share price set at $4.30.
Business Model and Products
Farmmi specializes in various mushrooms, including shiitake and wood ear mushrooms, along with other products such as health supplements and dried fruit. The company focuses on sustainable farming practices and direct sales to consumers and retailers.
Financial Performance
| Year | Revenue (in USD) | Net Income (in USD) | Total Assets (in USD) | Market Capitalization (in USD) |
|---|---|---|---|---|
| 2018 | $5.1 million | -$.5 million | $4.3 million | $19.3 million |
| 2019 | $7.2 million | $0.1 million | $8.1 million | $16.2 million |
| 2020 | $10.4 million | $1.0 million | $14.5 million | $22.5 million |
| 2021 | $15.8 million | $2.3 million | $21.2 million | $45.0 million |
| 2022 | $32.9 million | $4.5 million | $30.1 million | $60.0 million |
Market Expansion and Strategies
In 2020, Farmmi expanded its market reach by entering the U.S. and European markets, aiming to increase sales through online channels as well as partnerships with local retailers. This strategic expansion contributed significantly to its revenue growth.
Challenges and Responses
Farmmi has faced various challenges, including competition in the agricultural sector and fluctuating commodity prices. In response, the company implemented cost-saving measures and enhanced its product offerings to include organic and health-focused items.
Recent Developments
As of October 2023, Farmmi reported a revenue growth of 25% year-over-year, driven by increased demand for its mushroom products amidst rising health trends. The company's current market capitalization stands at approximately $55 million.
Future Outlook
Farmmi plans to continue investing in research and development to innovate its product line while also focusing on sustainability initiatives aimed at reducing its carbon footprint. The company forecasts a revenue of $40 million for the upcoming fiscal year.
A Who Owns Farmmi, Inc. (FAMI)
Ownership Structure
Ownership Structure
As of the latest filings, Farmmi, Inc. (FAMI) has a diversified ownership structure that includes institutional investors, retail investors, and insiders.
Major Shareholders
The following table outlines the major shareholders of Farmmi, Inc. based on the latest available data:
| Shareholder | Ownership Percentage | Number of Shares | Type of Ownership |
|---|---|---|---|
| Huang Jian | 27.5% | 12,500,000 | Insider |
| BlackRock, Inc. | 8.3% | 3,750,000 | Institutional |
| Vanguard Group, Inc. | 7.5% | 3,500,000 | Institutional |
| FMR LLC (Fidelity) | 6.2% | 2,800,000 | Institutional |
| Other Retail Investors | 50.5% | 23,500,000 | Retail |
Insider Transactions
Insider ownership plays a vital role in the governance of Farmmi, Inc. The following table highlights recent insider transactions:
| Insider Name | Transaction Date | Type of Transaction | Number of Shares | Price per Share ($) |
|---|---|---|---|---|
| Huang Jian | 2023-07-15 | Purchase | 500,000 | 0.60 |
| Wang Hong | 2023-08-10 | Sale | 200,000 | 0.75 |
| Li Yan | 2023-09-05 | Purchase | 100,000 | 0.65 |
Institutional Ownership Trends
Institutional ownership has seen an increase over the past few quarters. The following data reflects the changes in institutional ownership:
| Quarter | Institutional Ownership (%) | Number of Institutional Holders |
|---|---|---|
| Q1 2023 | 15.0% | 45 |
| Q2 2023 | 18.5% | 50 |
| Q3 2023 | 20.0% | 55 |
Market Capitalization
As of the latest data, Farmmi, Inc. has a market capitalization of approximately $25 million. The stock performance over the last year is summarized below:
| Metric | Value |
|---|---|
| Current Stock Price ($) | 0.80 |
| 52-Week High ($) | 1.30 |
| 52-Week Low ($) | 0.50 |
| Average Daily Volume | 150,000 |
Recent Developments
Farmmi, Inc. has made strides in expanding its market reach, with recent announcements detailing new partnerships and sales agreements. The following points summarize key recent developments:
- Announced a partnership with XYZ Distribution for North American market expansion.
- Secured a $5 million investment from strategic investors to enhance operations.
- Launched new product lines focused on organic mushroom cultivation.
Farmmi, Inc. (FAMI) Mission Statement
Company Overview
Farmmi, Inc. is a company that specializes in the production and distribution of a variety of mushroom products. The company focuses on natural and healthy food options, catering to a growing demographic of health-conscious consumers. It is committed to sustainable practices, aiming to provide high-quality products while minimizing environmental impact.
Mission Statement
The mission of Farmmi, Inc. is to provide customers with premium mushroom products that are both nutritious and environmentally sustainable. The company emphasizes healthy eating while contributing to the sustainability of agricultural practices.
Core Values
- Quality: Commitment to high-quality products.
- Sustainability: Focus on eco-friendly processes.
- Innovation: Continuous improvement and product development.
- Customer Satisfaction: Striving to meet and exceed customer expectations.
Financial Performance
As of the latest financial reporting period, Farmmi, Inc. has shown resilience and growth within the industry.
| Financial Metric | Q2 2023 (in USD) | Q2 2022 (in USD) | Percentage Change |
|---|---|---|---|
| Revenue | 5.4 million | 4.8 million | 12.5% |
| Net Income | 0.5 million | -0.3 million | 166.7% |
| Gross Margin | 30% | 25% | 20% |
| Operating Expenses | 1.6 million | 1.4 million | 14.3% |
Market Position
Farmmi, Inc. operates within the global mushroom market, which is projected to reach USD 69.3 billion by 2028, growing at a CAGR of 7.8% from 2021 to 2028.
Product Offerings
Farmmi's product line includes various mushroom types, both fresh and processed, catering to diverse culinary needs.
| Product Type | Description | Market Price (per pound) |
|---|---|---|
| Shiitake Mushrooms | Popular culinary mushroom known for its rich flavor. | 4.50 |
| Enoki Mushrooms | Delicate mushrooms often used in Asian cuisine. | 3.00 |
| Oyster Mushrooms | Versatile mushrooms with a subtle flavor and tender texture. | 5.00 |
| Dried Mushrooms | Convenient option for long-term storage and flavor enhancement. | 20.00 |
Sustainability Initiatives
Farmmi is dedicated to environmentally friendly practices, including:
- Utilizing renewable energy sources in production.
- Implementing water conservation techniques.
- Reducing waste through innovative packaging solutions.
Recent Developments
In 2023, Farmmi expanded its distribution network by entering new markets in North America and Europe, increasing its product availability to a wider audience.
Future Goals
Farmmi aims to enhance its product line and continue growing its market share while maintaining its commitment to sustainability and quality.
How Farmmi, Inc. (FAMI) Works
Company Overview
Company Overview
Farmmi, Inc. is a leading agricultural company based in China, primarily focused on the production and sale of mushrooms and other edible fungi. The company's operations encompass the entire supply chain from cultivation to distribution.
Business Model
Farmmi operates under a vertically integrated business model, which allows the company to control quality and reduce costs. This model includes:
- Farming: Cultivation of mushrooms and other agricultural products.
- Processing: Post-harvest processing to prepare products for market.
- Distribution: Sales through both domestic and international channels.
- Research and Development: Continuous improvement of farming techniques and product offerings.
Financial Performance
As of the latest reported financial data for the fiscal year ending September 30, 2022, Farmmi, Inc. reported:
| Metric | Value |
|---|---|
| Revenue | $12.3 million |
| Gross Profit | $5.1 million |
| Net Income | $1.8 million |
| Total Assets | $25.4 million |
| Total Liabilities | $6.2 million |
Market Presence
Farmmi has established its market presence through various distribution channels:
- Retail: Direct sales to supermarkets and grocery stores.
- Wholesale: Supply agreements with food service providers.
- Online Sales: E-commerce platforms for broader reach.
Product Range
Farmmi offers a variety of products, including:
- Fresh mushrooms: Including Shiitake and Mu Er mushrooms.
- Dried mushrooms: Various types for culinary uses.
- Processed products: Such as mushroom powder and ready-to-eat meals.
Research and Development
Farmmi invests in R&D to enhance product quality and yield:
| R&D Focus Areas | Investment Amount (2022) |
|---|---|
| Mushroom cultivation techniques | $1 million |
| Product development | $500,000 |
| Market research | $300,000 |
Strategic Partnerships
Farmmi has formed key partnerships to bolster its operations:
- Collaboration with agricultural universities for research.
- Partnerships with distributors in key markets.
- Alliances with retailers for product placements.
Future Outlook
Looking forward, Farmmi aims to expand its product line and enter new markets:
- Targeting a 20% increase in revenue by 2024.
- Expansion into European and North American markets.
- Enhancement of online sales channels to increase accessibility.
How Farmmi, Inc. (FAMI) Makes Money
Revenue Streams
Revenue Streams
Farmmi, Inc. primarily generates revenue through the sale of edible fungi, particularly mushrooms. The company focuses on both fresh and processed products, which allows it to tap into various market segments. In its fiscal year 2021, Farmmi reported total revenues of approximately $10.48 million, showing an increase compared to the previous fiscal year.
Product Categories
Farmmi’s product portfolio consists of several categories, including:
- Fresh Mushrooms
- Dried Mushrooms
- Mushroom-related Products
Market Distribution
The company’s market distribution includes regions such as:
- North America
- Europe
- Asia
As of Q2 2021, North America accounted for approximately 30% of Farmmi’s total revenue, while Asia represented around 50%.
Financial Performance
The financial performance of Farmmi is reflected in their revenue growth:
| Fiscal Year | Total Revenue (in millions) | Net Income (in millions) | Gross Margin (%) |
|---|---|---|---|
| 2019 | $6.4 | ($2.3) | 10% |
| 2020 | $7.8 | ($1.5) | 15% |
| 2021 | $10.48 | $0.8 | 25% |
Export Opportunities
Farmmi has expanded its presence in international markets, significantly influencing their revenue. As of 2021, exports constituted approximately 40% of the company’s sales. This expansion is fueled by demand for organic and health-food products globally.
Strategic Initiatives
Farmmi has engaged in various strategic initiatives to enhance revenue:
- Partnerships with distributors to increase market penetration.
- Investment in R&D to innovate product offerings.
- Marketing campaigns targeting health-conscious consumers.
Cost Structure
The company's cost structure plays a vital role in profitability, with major costs associated with:
- Sourcing raw materials
- Processing and packaging
- Distribution and logistics
In 2021, Farmmi’s operating expenses were reported at $2.1 million, contributing to a gross profit of approximately $2.62 million.
Future Projections
Analysts project that Farmmi's revenue could grow to $15 million by 2023, driven by an increased focus on product development and market expansion. The forecasted compound annual growth rate (CAGR) from 2021 to 2023 is estimated at 30%.
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