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good natured Products Inc. Announces Year Ended December 31, 2020 Audited Financial Results and Schedules Investor Webcast for May 5, 2021

April 30, 2021 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP), a North American leader in earth-friendly plant-based products, today announced its audited financial results for the year ended December 31, 2020 (or “FY2020”). The Company also announced that it will host a webcast investor presentation on May 5, 2021 at 2:00 PM Eastern / 11:00 AM Pacific time.

Key Highlights:

  • Revenues for FY2020 increased 65% to $16,713,190 compared to $10,098,675 for the year ended December 31, 2019 (or “FY2019”).
  • Gross profit for FY2020 increased 80% to $6,236,218 compared to $3,473,665 for FY2019. Gross profit as a percentage of sales increased to 37.3% compared to 34.4% for FY2019.
  • Selling, general and administrative expenses (otherwise referred to as operating expenses), excluding acquisition activity, for FY2020 were $7,355,234 compared to $4,457,791 for FY2019, representing an
    increase of 65%.
  • The Company’s adjusted EBITDA, a non-GAAP measure, loss in for FY2020 was $1,520,865 compared to $1,446,100 for FY2019.
  • The Company’s net loss in FY2020 was $7,186,972 compared to $3,473,821 for FY2019.

“2020 was a transformational year for the Company as we delivered organic growth and completed two strategic acquisitions in the face of challenging COVID-19 business conditions,” stated Paul Antoniadis, CEO of good natured®. “In the fourth quarter our logistics and warehousing expenses increased due to a planned plant-based resin inventory build we executed ahead of capacity increases, new product launches and customer material transition at Integrated Packaging Films. These were purposeful decisions made to support our future growth initiatives.” Paul Antoniadis continued to state, “We also saw external cost inflation in our logistics and fulfillment operations and anticipate continued pressures here through the end of 2021. We have initiated some changes in our business to deal with the logistics and fulfillment cost inflation facing the industry. We remain confident in the outlook for growth in the 2021 financial year, with our preliminary and unaudited Q1 2021 results expected to show revenue growth of over 150%. Our new customer activity remains strong as is our pipeline of potential acquisitions.”

The Company’s FY2020 audited financial statements and Management’s Discussion and Analysis (MD&A) are available on SEDAR at

Investor Webcast on May 5, 2021

The Company also today announced that it will host a webcast investor presentation on May 5, 2021 at 2:00 PM Eastern / 11:00 AM Pacific time.

During the webcast, Paul Antoniadis, Chief Executive Officer, will provide a presentation that will cover key areas of the good natured® business. After the formal presentation, investors will have an opportunity to ask questions through an interactive Q&A portal.

To attend the webcast, please pre-register at the following link:

An archived version of the webcast and presentation will be available on the Company’s website,

The good natured® corporate profile can be found at:

About good natured Products Inc.

good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We’re all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.

Part of the sustainable consumer goods market, good natured® offers over 385 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we’re focused on delivering a great customer experience to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.

For more information:

On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466

Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.

Non-GAAP financial measures

We have included in this press release a discussion of the Company’s adjusted EBITDA, a non-GAAP measure, for FY2020 and FY2019 to provide, what management believes, is a meaningful comparison of the Company’s performance in FY 2020. In this news release, adjusted EBITDA is earnings before interest and finance costs, taxes, depreciation and amortization, other non‐cash items and one‐time gains and losses. Adjusted EBITDA does not have a standardized meaning, and therefore may not be comparable to similar measures presented by other issuers. The use of the adjusted EBITDA by management allows for evaluation of the Company’s principal business activities as certain non‐core items such as interest and finance costs, taxes, depreciation and amortization, and other non‐cash items and one‐time gains and losses are removed.

The following table provides a reconciliation of net loss, as disclosed in the Company’s FY2020 audited financial statements to adjusted EBITDA:

Three months ended

Year ended

Dec. 2020

Dec. 2019

Dec. 2020

Dec. 2019

Income (loss) for the period:









Share-based compensation





Depreciation and amortization





Financing costs





Foreign exchange gain



Loss on convertible debenture redemption



Loss (Gain) on interest-free loan





Acquisition related activity





Deferred income taxes




Adjusted EBITDA









Preliminary Results

The preliminary results set forth above are made as of the date of this news release and are based on an initial review of the Company’s operating and financial results for the quarter ended March 31, 2021 and are subject to change. These preliminary results are provided for the purpose of providing the readers with further context to the Company’s FY2020 results. Final reported results could differ from these preliminary results following the completion of quarter-end accounting procedures, final adjustments and other developments arising between now and the time that the Company’s financial results are finalized, and such changes could be material. The Company’s independent auditor, Deloitte LLP, has not audited, reviewed or performed any procedures with respect to the accompanying preliminary financial results and other data, and accordingly does not express an opinion or any other form of assurance with respect thereto. The preliminary results have been prepared by, and are the responsibility of, the Company’s management, and were approved by management on April 12, 2021. In addition, these preliminary results are not a comprehensive statement of the Company’s financial results for the quarter ended March 31, 2021. They should not be viewed as a substitute for audited financial statements prepared in accordance with International Financial Reporting Standards and are not necessarily indicative of the Company’s results for any future period.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of securities laws including statements related to preliminary revenue results, Company plans for 2021 and managements outlook for 2021. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Other than as required under securities laws, we do not undertake to update this information at any particular time.

Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, sales volume and pricing which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.