EX-99.1 2 ex-991earningsrelease93025.htm EX-99.1 Document

Exhibit 99.1
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Sadot Group, Inc. Reports Third Quarter 2025 Results

BURLESON, Texas, November 19, 2025 (ACCESSWIRE) - Sadot Group Inc. (Nasdaq: SDOT) (“Sadot Group”, “Sadot” or the “Company”), today announced its financial results for the third quarter ended September 30, 2025. The quarterly financial statements for the three and nine months ended September 30, 2025, are available on the “investors” section of the Company’s website (www.sadotgroupinc.com/sec-filings) and can also be found on www.sec.gov.

Third Quarter 2025 Financial Highlights
•Consolidated revenues of $0.3 million
•Net loss attributable to Sadot Group Inc. of $(15.2) million
•Negative EBITDA of $(14.3) million
•Dilutive EPS loss of $(17.42)
•Working capital deficit of $1.5 million
Strategic and Operational Highlights
•Chagay Ravid joined as CEO on May 28, 2025
•Paul Sansom joined as CFO on August 1, 2025
•Strategic investment in an Indonesian carbon project. Company acquired a 37.5% equity stake in the Special Development Group (SDG), which is a local Indonesian entity holding full project rights in formal partnership with 11 indigenous coastal communities across the Riau archipelago in Indonesia. The project focuses on the restoration and long-term protection of peatland and mangrove ecosystems. SDG has advised that this carbon project initiative is expected to generate between 1.1 and 1.2 million high-integrity carbon credits in its first issuance cycle.
•Company regained compliance with the Nasdaq bid price requirement on October 10, 2025.
•New Board of Directors named on October 29, 2025.

Overall

Chagay Ravid, Sadot’s CEO, described Q3 as follows, “In Q3, 2025, Sadot Group’s largest operating unit, Sadot LLC, encountered significant issues with collecting on certain receivables. This limited Sadot’s ability to enter into commodity-based credit trades.” Chagay further stated, “the Company began implementing cost cutting measures across the board, concurrently with its aim to monetize assets including that of the restaurant operating unit.”

Sadot Group established a new Board of Directors on October 29, 2025 to review the core business model. The new Board of Directors, given the geo-political risks as well as climate risks the Company is facing in certain countries, will consider whether the agri-food supply chain is a strategic initiative it wishes to focus on, or whether it will consider other proposals. The credit facilities and financing commitments will provide the Board the opportunity to review the current business model.

All numbers disclosed in this report are the amounts attributable to Sadot Group Inc. and exclude the portion related to the non-controlling interests. All share based numbers are reverse split adjusted.



About Sadot Group Inc.

Sadot Group is headquartered in Burleson, Texas with subsidiary operations throughout the world. For more information, please visit www.sadotgroupinc.com.







Sadot Group, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
September 30, 2025December 31, 2024
$’000$’000
ASSETS
Current assets:
Cash581 1,786 
Accounts receivable, net of allowance for doubtful accounts of $2.3 million and $0.1 million as of September 30, 2025 and December 31, 2024, respectively
29,054 18,014 
Inventory154 717 
Assets held for sale5,016 5,196 
Other current assets12,864 126,966 
Total current assets47,669 152,679 
Property and equipment, net11,743 11,820 
Other non-current assets13,551 155 
Total assets72,963 164,654 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses35,432 28,019 
Notes payable, current, net of discount of $0.6 million and $0.9 million as of September 30, 2025 and December 31, 2024, respectively
11,540 7,390 
Deferred revenue, current— 2,251 
Liabilities held for sale2,142 2,333 
Other current liabilities26 92,177 
Total current liabilities49,140 132,170 
Notes payable, non-current47 — 
Other non-current liabilities92 111 
Total liabilities49,279 132,281 
Equity:
Common stock, $0.0001 par value, 2,000,000 shares authorized, 1,041,281 and 522,514 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively
1 1 
Additional paid-in capital117,931 112,406 
Accumulated deficit(97,121)(83,187)
Accumulated other comprehensive loss(85)(27)
Total Sadot Group Inc. shareholders' equity20,726 29,193 
Non-controlling interest2,958 3,180 
Total stockholders’ equity23,684 32,373 
Total liabilities and stockholders’ equity72,963 164,654 


Sadot Group, Inc.
Condensed Consolidated Statement of Operations and Other Comprehensive Income/ (Loss)
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
$’000$’000$’000$’000
Commodity sales272 200,906 246,778 480,706 
Other revenues17 — 69 — 
Cost of goods sold(6,630)(193,247)(242,189)(464,448)
Gross profit / (loss)(6,341)7,659 4,658 16,258 
Depreciation and amortization expenses(22)(49)(76)(232)
Stock-based expenses(584)(1,713)(2,431)(4,430)
Sales, general and administrative expenses(7,388)(3,424)(13,240)(6,518)
Income / (loss) from operations(14,335)2,473 (11,089)5,078 
Other income— — — — 
Interest expense, net(887)(1,712)(3,665)(2,948)
Change in fair value of stock-based compensation— 1,001 778 2,691 
Loss on debt extinguishment— — (192)— 
Income / (loss) for continuing operations before income tax(15,222)1,762 (14,168)4,821 
Income tax expense (2)(3)(2)(9)
Net income / (loss) for continuing operations(15,224)1,759 (14,170)4,812 
Discontinued Operations:
Income / (loss) for discontinued operations, net of income tax(38)(665)14 (1,713)
Net income / (loss) for discontinued operations(38)(665)14 (1,713)
Net income / (loss) (15,262)1,094 (14,156)3,099 
Net loss attributable to non-controlling interest73 69 294 169 
Net income / (loss) attributable to Sadot Group Inc.(15,189)1,163 (13,862)3,268 
Net income/ (loss) from continuing operations per share attributable to Sadot Group Inc.:
Basic(17.38)3.89 (21.04)11.23 
Diluted(17.38)3.65 (21.04)10.58 
Net income/ (loss) from discontinued operations per share:
Basic(0.04)(1.42)0.02 (3.86)
Diluted(0.04)(1.33)0.02 (3.64)
Weighted-average # of common shares outstanding:
Basic871,759 469,335 659,565 443,607 
Diluted871,759 501,134 659,565 470,796 


Sadot Group, Inc.
Condensed Consolidated Statement of Operations and Other Comprehensive Income/ (Loss) (Continued)
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
$’000$’000$’000$’000
Net income / (loss) (15,262)1,094 (14,156)3,099 
Other comprehensive income / (loss)
Foreign exchange translation adjustment(1)(4)(58)(1)
Unrealized loss — (1)— (187)
Total other comprehensive loss(1)(5)(58)(188)
Total comprehensive income / (loss)(15,263)1,089 (14,214)2,911 
Comprehensive loss attributable to non-controlling interest73 69 294 169 
Total comprehensive income / (loss) attributable to Sadot Group Inc.(15,190)1,158 (13,920)3,080 


Sadot Group, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Nine Months Ended September 30,
20252024
$’000$’000
Cash Flows from Operating Activities
Net income (loss) (14,156)3,099 
Adjustments to reconcile net income / (loss) to net cash (used in) / provided by operating activities:
Depreciation and amortization76 232 
Amortization of debt discount1,730 — 
Stock-based expenses2,431 4,430 
Change in fair value of stock-based compensation(778)(2,691)
Bad debt expense5,355 1,200 
Loss on debt extinguishment192 — 
Changes in operating assets and liabilities:
Accounts receivable, net(16,394)13,507 
Inventory563 1,301 
Other current assets113,996 (58,770)
Other non-current assets(13,413)46,323 
Accounts payable and accrued expenses7,574 (9,682)
Other current liabilities— 47,714 
Other non-current liabilities(92,154)(46,048)
Operating right to use assets and lease liabilities, net— 2 
Deferred revenue(2,251)734 
Total adjustments6,927 (1,748)
Net cash provided by / (used in) operating activities(7,229)1,351 
Net cash used in operating activities - discontinued operations(11)(573)
Cash Flows from Investing Activities
Purchases of property and equipment— (13)
Disposal of property and equipment— 12 
Net cash provided by (used in) investing activities— (1)
Net cash provided by investing activities - discontinued operations— 1,017 
Cash Flows from Financing Activities
Proceeds from notes payable12,062 4,125 
Proceeds from issuance of common stock2,425 — 
Repayments of notes payable(8,394)(6,197)
Net cash provided by / (used in) financing activities6,093 (2,072)
Net cash used in financing activities - discontinued operations— (113)
Foreign exchange translation adjustment(58)(1)
Net Decrease in Cash(1,205)(392)
Cash – beginning of period1,786 1,354 
Cash – end of period581 962 


Reconciliations of EBITDA and Other Non-GAAP Measures
EBITDA and EBITDA Margin are non-GAAP measures. The Company defines EBITDA as Net loss, adjusted for depreciation, amortization, interest income / (expense), and income taxes. The Company believes that EBITDA and EBITDA Margin, (collectively, the “Non-GAAP Measures”) are useful metrics for investors to understand and evaluate its operating results and ongoing profitability because they permit investors to evaluate its recurring profitability from its ongoing operating activities.

EBITDA and EBITDA Margin, have certain limitations, and you should not consider them in isolation or as a substitute for analysis of its results of operations as reported under U.S. GAAP. The Company cautions investors that amounts presented in accordance with its definitions of any of the Non-GAAP Measures may not be comparable to similar measures disclosed by other issuers, because some issuers calculate certain of the Non-GAAP Measures differently or not at all, limiting their usefulness as direct comparative measures.
The following table presents a reconciliation of EBITDA from the most comparable U.S. GAAP measure, Net loss, and the calculations of the Net loss margin and EBITDA Margin for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
 $’000  $’000  $’000  $’000
Net income / (loss) (15,262)1,094 (14,156)3,099 
Adjustments to EBITDA:
Depreciation and amortization expenses22 49 76 232 
Interest expense, net887 1,712 3,665 2,948 
Income tax expense2 3 2 9 
EBITDA(14,351)2,858 (10,413)6,288 
EBITDA attributable to non-controlling interest73 69 294 169 
EBITDA attributable to Sadot Group Inc.(14,278)2,927 (10,119)6,457 
Gross profit / (loss)(6,341)7,659 4,658 16,258 
Gross profit / (loss) attributable to Sadot Group Inc.(6,268)7,728 4,952 16,427 
Net income/ (loss) margin attributable to Sadot Group Inc.(5281.0)%0.5 %(5.7)%0.6 %
EBITDA margin attributable to Sadot Group Inc.(4940.5)%1.5 %(4.1)%1.3 %


Forward-Looking Statements

This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
Investor Relations:
Email - IR@sadotco.com