04:27 PM EST, 11/18/2024 (MT Newswires) -- Simply Better Brands ( SBBCF ) said Monday afternooni ts third-quarter revenue rose 124% year-over-year, mostly driven by the growth of the Trubar snack-bar brand.

The company said for the quarter ended Sept. 30, revenue was US$12.1 million, compared with US$5.4 million a year ago. Trubar sales accounted for US$11.5 million, up 156% from US$4.5 million in the year-ago quarter.

Tru Brands Chief Executive Erica Groussman said that "partnering with major retailers like GNC, Whole Foods, CVS, and Walmart has enabled us to expand our distribution of Trubar six-fold in 2024, with over 15,000 distribution points expected by the end of the year."

Profit from continuing operations was $4.1 million, up from $0.4 million a year ago, primarily due to changes in the fair value of warrants and derivative liabilities, the company added.

The company said as of Sept. 30, it had $3.7 million in cash and its working capital improved significantly, rising from a deficit of $12.4 million at the end of 2023 to a positive $2.9 million by the third quarter of 2024.