Innovation Beverage Group Ltd
IBG · Beverages · EDGAR filings ↗
Grade
D47Tiny beverage/bitters brand with best-in-class gross margin but deep losses, shrinking sales and minimal cash.
Strengths
- Gross margin 76% (100th pct) after exiting low-margin wine e-commerce
- Flagship Australian Bitters Company holds ~45% domestic share via Coca-Cola Europacific distribution
Risks
- Net margin -88%, operating margin -109%, ROE -98% (20th-23rd pct); revenue down 6.9%
- Cash $620K with ~1.6-quarter runway (22nd pct); FY2024 data is stale (~18 months old)
Notable findings
- No interest coverageInterest coverage -13.09 (cannot cover interest)
- Net lossNet loss (net margin -87.7%)
- Cash burnNegative free cash flow (-1.6M)
Key metrics
Gross margin
76.1%
Operating margin
-109.1%
Net margin
-87.7%
Return on equity
-98.2%
Return on assets
-51.9%
Revenue growth (QoQ)
-6.9%
Interest coverage
-13.1×
Current ratio
1.1×
Free cash flow
-$2M
EBITDA
-$3M
Tangible book value
$2M
Cash & investments
$620K
Cash runway
2q
Stock comp / revenue
5.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-05-15 | 2024-12-31 | 0001731122-25-000769 ↗ |