BETTER CHOICE CO INC. – 10-K/A – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. – Marketscreener.com

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Overview and Outlook
The Global Pet Food and Treat Market
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Our Growth Strategy
•Strong Innovation Pipeline. We have a robust and growing pipeline of new products, and believe our size is an advantage as we are nimble enough to quickly bring new products to market, but large enough to benefit from strong existing customer relationships and established economies of scale with our co-manufacturers.
•Capitalize on Continuing Trends of Humanization of Pets. We believe our combination of innovative products designed specifically for certain channels can assist our growth to become a leader in the premium and super-premium categories across dog and cat food.
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Results of Operations for the Years Ended December 31, 2021 and 2020
Information about our revenue channels is as follows (in thousands):
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Gross profit
Operating expenses
Our Selling, general and administrative (“SG&A”) expenses consist of the following:
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Interest expense, net
Gain (Loss) on extinguishment of debt
Change in fair value of warrant liabilities
Income taxes
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Liquidity and capital resources
A summary of our cash flows is as follows (in thousands):
Year Ended December 31,
Cash flows from Operating Activities
Cash flows from Investing Activities
Cash used in investing activities was $0.4 million during the year ended December 31, 2021 and $0.2 million during the year ended December 31, 2020. The cash used in investing activities is related to capital expenditures.
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Cash flows from Financing Activities
Wintrust Credit Facility
See “Note 8 – Debt” to our audited consolidated financial statements included in this Annual Report on Form 10-K for more information.
Contractual Commitments and Obligations
Off-Balance Sheet Arrangements
Critical Accounting Estimates
Goodwill Impairment
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Share-Based Compensation
Accounting for Warrants
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