• Quarterly growth outlook: Following disruptions from unseasonal rains and international headwinds, management views the recent weak performance as a one-off aberration and expects reasonable growth in Q1 as summer demand normalizes.
• Core portfolio performance: Core categories, including pain management, Kesh King, and healthcare, grew by 11% in the quarter, and this growth trajectory is expected to continue through the full year.
• Strategic acquisition pipeline: Two investee companies have become 100% subsidiaries, Axiom is slated to become fully owned this year, and the acquisition of IncNut Digital (brands Vedix and SkinKraft) is close to completion.
• Margin and EBITDA: Although rising costs for imported and crude-based packaging materials may compress gross margins, price increases and economies of scale are expected to deliver EBITDA growth.