01:57 PM EDT, 05/24/2024 (MT Newswires) -- Happy Belly Food Group ( VGANF ) on Friday reported a narrower first-quarter net loss, driven mainly by the quarter-over-quarter improvements in top-line sales, and improved gross profit in the Quick Service Restaurants and Consumer Product Goods segments.

The company reported a first-quarter loss of $305,734, or $0.00 per share, narrower than a loss of $474,294, or $0.00 per share, a year earlier.

Total revenue for the quarter ended March 31 was $1.9 million, up 78% from $1.1 million a year earlier.

The increase was primarily a result of the organic and inorganic growth of Heal Wellness, since the company's acquisition in May 2022, Lettuce Love Cafe, Joey Turks Island Grill, and the acquisition of Via Cibo restaurant group on Jan. 4, 2024.

EBITDA profit for Q1 was $16,613, as compared with an EBITDA loss of $244,887 a year earlier.

The company's shares slipped 1% on last look on Friday..

Price: 0.48, Change: -0.01, Percent Change: -1.03