Starco Brands, a developer and acquirer of behavior-changing technologies and brands that invigorate everyday experiences, has announced that its board has approved an Insider Trading Policy and a plan for insiders to repurchase stock. The company, which owns five operating brands—Whipshots (alcohol-infused aerosol whipped cream), Winona Pure (popcorn and seasoning sprays), Art of Sport (wellness products for athletes), Skylar Beauty (clean fragrances and personal care), and Soylent (nutritional food and beverages)—reported a net revenue of $15.6 million for Q2 2024, with margins rising to 37%. The company anticipates national retail expansion and growth throughout the latter half of 2024 and into 2025.
Chairman & CEO Ross Sklar commented, “We have streamlined operations and created efficiencies through our shared service platform over the past year, positioning the company for significant retail expansion, top-line growth, and improved margins. Our team has made remarkable progress in broadening our product lines and distribution points, and I am incredibly proud of their achievements.”
In an interview with ICR, the company’s investor relations firm, Sklar explained the rationale behind the Insider Trading Policy and stock buyback plan. “As our public company continues to grow and gain traction, both employees and senior executives are eager to increase their ownership. We are excited to announce the approval of our Insider Trading Policy and our plan to repurchase stock during this exciting period. I am personally buying shares when permitted during non-blackout periods, in accordance with our policy.”
When asked about his personal stock purchases, Sklar elaborated, “Our portfolio companies are succeeding due to their unique products and brands with strong competitive advantages and expanding distribution. I encourage anyone to review our company’s performance metrics—revenue run rate, margins, and distribution expansion—and compare these with our market capitalization. Notably, the enterprise value of individual brands may exceed the company’s total market cap, which is currently less than one times revenue. I believe this may indicate undervaluation.”
On August 14th, following the company’s earnings release and call, Starco Brands’ stock saw its highest trading volume ever.
