The acquisition of OWYN was completed on June 13, 2024. Therefore, the company's fourth quarter and full year 2024 results include about 11 weeks of OWYN performance.
— Geoff Tanner
03Detailed Report
SMPL
Company SMPL
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 21, 2026
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Executive Summary
The Simply Good Foods Company delivered a strong Q4 2024, underpinned by OWYN integration and the favorable timing of a 53rd week. Reported net sales of $375.7 million rose 17.2% year over year, with OWYN contributing roughly 9 percentage points and the 53rd week contributing about 8 percentage points to the quarterly growth. On a like-for-like basis (excluding OWYN and the extra week), legacy North America Quest grew around 5% while Atkins declined about 5%, reflecting ongoing brand revitalization and ROI-driven spending discipline. Adjusted EBITDA rose 15% to $77.5 million, supported by a gross margin expansion to 38.8% and continued cost discipline. Full-year 2024 net sales reached $1.33 billion (+7.1% YoY) with gross margin of 38.4% and Adjusted EBITDA of $269.1 million (+9.6%), while net income rose to $139.3 million.
Key Performance Indicators
Revenue
Increasing
375.69M
QoQ: 12.23% | YoY: 17.25%
Gross Profit
Increasing
141.75M
37.73% margin
QoQ: 9.47% | YoY: 17.68%
Operating Income
Decreasing
47.82M
QoQ: -22.21% | YoY: -14.22%
Net Income
Decreasing
29.29M
QoQ: -29.14% | YoY: -20.06%
EPS
Decreasing
0.29
QoQ: -29.27% | YoY: -21.62%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue and profitability highlights
- Q4 2024 net sales: $375.7 million, up 17.2% YoY; full-year 2024 net sales: $1.33 billion, up 7.1% YoY. The 53rd week contributed about 8 percentage points to Q4 growth; OWYN contributed about 9 percentage points to Q4 growth; legacy (ex-OWYN, ex-53rd week) growth was modest (~1% in Q4; ~4.8% for the full year).
- Gross profit: Q4 $141.746 million; gross margin 38.8% (vs 37.7% in prior-year quarter); full-year gross profit $511.6 million; gross margin 38.4% (up 1.9pp).
- EBITDA: Q4 Adjusted EBITDA $77.5 million (+15% YoY); full-year Adjusted EBITDA $269.1 million (+9.6%).
- Net income and margins: Q4 net income $29.3 million; Q4 diluted EPS $0.29; full-year net income $139.3 million.
- Cash flow and liquidity: Operating cash flow $49.0 million in Q4; full-year operating cash flow $216 million; cash at period-end $132.5 million; trailing-12-month net debt to Adjusted EBITDA around 1.0x; Capex 2024 $5.7 million; 2025 Capex guidance $10–$15 million.
- Balance sheet and leverage: Total debt $402.98 million; cash $132.53 million; total assets $2.436 billion; total equity about $1.727 billion; net debt $270.45 million.
- Key ratios: current ratio 4.05; gross margin 38.8%; operating margin 12.7%; net margin 7.8%; EPS (diluted) $0.29 in Q4; full-year metrics imply a solid, asset-light cash flow model with meaningful upside from OWYN synergies and Quest/Atkins innovations.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
375.69M
17.25%
12.23%
Gross Profit
141.75M
17.68%
9.47%
Operating Income
47.82M
-14.22%
-22.21%
Net Income
29.29M
-20.06%
-29.14%
EPS
0.29
-21.62%
-29.27%
Key Financial Ratios
Gross Profit Margin
Fair
38.80%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Fair
12.70%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
7.80%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
1.20%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
1.70%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
4.05
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.23
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Growth
26.94x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
Fair Value
1.83x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
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