Simply Better Brands Corp. is announcing its second quarter results—while investing in brand growth and expansion.

The company is announcing a 40% growth compared to the second quarter 2022. Revenue for the second quarter of 2023 was $23.6 million, an increase of $6.7 million or 40% growth compared to $16.9 million in the second quarter of 2022. 

Simply Better Brands include No B.S. Skincare, Vibez Wellness, PureKana Wellness, and TrueBar Protein Bar. 

Kathy Casey, CEO of Simply Better Brands says, “As our Q2 2023 financial and commercial results illustrate, we are positioned for continued revenue growth, profit improvement, and debt reduction in 2023.”

Casey adds, “Our strategic priorities remain to lead consumer-centric innovation and relentlessly acquire customers to these emerging brands by driving category and channel expansion. Even with our marketing and capability investments in Q2, we remain confident in delivering the current 2023 outlook of $80 million in revenue and $3-4 million in adjusted EBITDA at a gross margin target range of 58-60%.”

Here is more about two of its brands:

• No B.S. Skincare entered 3,200 CVS Health stores last year.  Initial brick and mortar success had the brand enter TJ Maxx in Q2, with a planned national launch into Walgreen’s in Q4 2023.
• Vibez Wellness launched in November 2022 to capture “millennial consumers on their preventative wellness journey,” the company says. The brand has achieved $1.7M in revenue with a gross margin of 73% year-to-date 2023. Vibez’s primary focus is non-CBD solutions for weight management, focal acuity, and healthy hair.