Yogurt and oat milk maker Chobani on Wednesday filed to go public on the Nasdaq Exchange under the symbol “CHO,” becoming the latest food and beverage company to try to join the public markets.
Chobani said its revenue grew 5.2% to $1.4 billion from 2019 to 2020. However, its net loss more than tripled during that time, reaching $58.7 million, as it invested back into its business. During the nine months ended Sept. 25, its net sales growth has outpaced its widening net loss, indicating that its investments may be paying off.
Most of Chobani’s sales come from North America, but international markets account for roughly a tenth of its revenue, according to the regulatory filing. The company also said that two customers account for 10% of its net sales, as of Sept. 25.
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