08:13 AM EDT, 08/14/2024 (MT Newswires) -- Else Nutrition ( BABYF ) said Wednesday that it swung to profit in the second quarter after revenue increased 10%.

The food and nutrition company reported a gross profit of $263,000, reversing a gross loss of $50,000.

Revenue increased to $2.6 million from $2.4 million while operating expenses dropped to $3.4 million from $4.2 million.

"We believe these results are a strong validation of the market demand for nutritious and healthy alternatives," CEO Hamutal Yitzhak said. "Overall, we are committed to growing our revenue and capturing a significant share of this multi-billion market, while progressing towards profitability and driving value for our shareholders."

The company's share price jumped 14% yesterday to nearly $0.13.