Stryve Foods explores strategic options amid declining sales

USA – Stryve Foods, the US-based maker of air-dried meat snacks and pet treats, has begun a formal review of strategic alternatives following multiple inquiries from potential investors.

The company first signaled in April that it was considering options to reshape its business and support growth after a challenging start to the year.

In its latest trading update, Stryve confirmed that it had received several inbound expressions of interest and is now evaluating potential opportunities through a structured process.

Preliminary figures for the first nine months of 2025 show net sales falling to US$13.4 million from US$16.5 million in the same period last year.

Stryve cited limited working capital, disruptions in beef supply, and rising input costs as factors that constrained its ability to meet customer demand and reduced both revenue and gross margins.

Despite these pressures, the company narrowed its net losses by 21% to US$7.9 million, helped by lower operating expenses.

For the full year, Stryve expects to record a net loss of around US$8 million, representing a 53% improvement compared with 2024.

Revenue for 2025 is projected to remain broadly flat, with management anticipating a notable pickup in the fourth quarter.

The company forecasts an annual EBITDA loss of US$4 million, a reduction from US$9.5 million in 2024, while operating expenses are expected to drop by 15% to roughly US$12.6 million.

Stryve projects fourth-quarter revenue of about US$7 million, a 59% increase compared with the same period last year, alongside EBITDA approaching break-even compared with a US$2.7 million loss in Q4 2024.

Management attributed the improved fourth-quarter outlook to a combination of price increases, productivity measures, and better inventory control.

The company emphasized that achieving these targets depends on successfully securing additional debt or equity financing under acceptable terms, which is not fully within its control.

CEO Chris Boever said the expected near break-even EBITDA in the fourth quarter marks a turning point toward sustainable profitability for the business.

Stryve markets its air-dried meat snacks under the Stryve, Kalahari, Braaitime, and Vacadillos brands, while its “human-grade” pet treats are sold under Two Tails and High Steaks.

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