Is Tattooed Chef the Next Beyond Meat?
While 2020 introduced a number of new habits into peoples’ lives (bread making, anyone?) it simply amplified others. The “cook from home” wave, despite something humans have been doing for thousands of years, has been on the steady increase over the past few years. It’s been getting easier and easier for busy people to stay at home and cook. Meals in a box providers like Home Chef and Blue Apron have amped up the fresh product lines, while other companies have leaned into the colder side of the grocery store. Companies like public-market darling Beyond Meat and private-market darling Impossible Foods have both showed that plant-based proteins have an incredibly strong foothold in the health-conscious sector of the market. And, based on the initial stock performance of Beyond Meat, investors are seeking out “the next one.” That leads us to today’s deep-dive on a frozen food purveyor focused on the plant-as-a-protein sector. This is Tattooed Chef (NASDAQ: TTCF).
Top-Line Numbers:
- 2020 Full Year Revenue: $148.49 million (+74.86% YoY)
- 2020 Full Year Net Income: $67.25 million (+1,385.84% YoY)
- Q2 2021 Revenue: $50.72 million (+45.89% YoY)
- Q2 2021 Net Income: -$53.20 million (-5,907.42% YoY)