| Revenue |
Note
2 – Revenue
The
Company records revenue net of discounts, which primarily consist of trade promotions, certain customer allowances and early pay discounts.
Revenue
channels
The
Company groups its revenue channels into three categories: Digital, which includes the sale of product to online retailers such as Amazon
and Chewy, as well as Brick & Mortar, which primarily includes the sale of product to Pet Specialty retailers, independent pet stores,
and regional distributors; and International, which includes the sale of product to foreign distribution partners and to select international
retailers (transacted in U.S. dollars).
Information
about the Company’s net sales by revenue channel is as follows (in thousands):
Schedule of Information about Revenue Channels
| | |
Three
months ended December 31, | |
| | |
2025 | | |
2024 | |
| Digital
(1) | |
$ | 2,583 | | |
| 92 | % | |
$ | — | | |
| — | % |
| International
(2) | |
| 124 | | |
| 4 | % | |
| — | | |
| — | % |
| Brick
& Mortar (3) | |
| 100 | | |
| 4 | % | |
| — | | |
| — | % |
| Net
Sales (4) | |
$ | 2,807 | | |
| 100 | % | |
$ | — | | |
| — | % |
| (1) |
The
Company’s Digital channel includes two wholesale customers that amounted to greater than 10% of the Company’s total net
sales for the three months ended December 31, 2025. |
| |
|
| (2) |
None
of the Company’s International customers represented greater than 10% of net sales for the three months ended December 31,
2025. |
| |
|
| (3) |
None
of the Company’s Brick & Mortar customers represented greater than 10% of net sales for the three months ended December
31, 2025. |
| |
|
| (4) |
Prior
period amounts have not been presented, as the Company’s prior year operations primarily related to SRX Canada, which has since
been deconsolidated and is presented as discontinued operations. Accordingly, the results for the three months ended December 31,
2025 and the year ended September 30, 2025, reflect only the continuing operations of BTTR and Halo and are not comparable to prior
periods. |
|
Note
2 – Revenue
The
Company records revenue net of discounts, which primarily consist of trade promotions, certain customer allowances and early pay discounts.
The Company excludes sales taxes collected from revenues. Retail-partner based customers are not subject to sales tax.
Revenue
channels
The
Company groups its revenue channels into three categories: Digital, which includes the sale of product to online retailers such as Amazon
and Chewy, as well as Brick & Mortar, which primarily includes the sale of product to Pet Specialty retailers, independent pet stores,
and regional distributors; and International, which includes the sale of product to foreign distribution partners and to select international
retailers (transacted in U.S. dollars).
Information
about the Company’s net sales by revenue channel is as follows (in thousands):
Schedule
of Information about Revenue Channels
| | |
Year
Ended September 30, | |
| | |
2025 | | |
2024 | |
| Digital
(1) | |
$ | 5,038 | | |
| 77 | % | |
$ | — | | |
| — | % |
| International
(2) | |
$ | 1,009 | | |
| 15 | % | |
$ | — | | |
| — | % |
| Brick
& Mortar (3) | |
$ | 487 | | |
| 8 | % | |
$ | — | | |
| — | % |
| Net
Sales (4) | |
$ | 6,534 | | |
| 100 | % | |
$ | — | | |
| — | % |
| (1) | The
Company’s Digital channel includes two wholesale customers that amounted to greater
than 10% of the Company’s total net sales for the year ended September 30, 2025. |
| (2) | One
of the Company’s International customers amounted to greater than 10% of the Company’s
total net sales and represented $0.8 million of net sales for the year
ended September 30, 2025. |
| (3) | None
of the Company’s Brick & Mortar customers represented greater than 10% of net sales
for the year ended September 30, 2025. |
| (4) | Prior
period amounts have not been presented, as the Company’s prior year operations primarily
related to SRX Canada, which has since been deconsolidated and is presented as discontinued
operations. Accordingly, the results for the year ended September 30, 2025, reflect only
the continuing operations of BTTR and Halo and are not comparable to prior periods. |
|