Sow Good Inc. (NASDAQ: SOWG) is a U.S.-based consumer packaged goods company that owns and markets freeze-dried candy and snack products under the Sow Good brand. Revenue comes from sales of finished goods inventory, with the company earning a 10% commission on gross receipts generated by its exclusive worldwide distributor, Trea Grove, LLC, under a Distribution Agreement running through July 31, 2026. Sow Good does not manufacture or warehouse products. As of December 31, 2025, it sold its manufacturing assets, including six proprietary freeze-drying machines, to Trea Grove for $1.5 million, transitioning to a capital-light, brand-owner model. Commercial sales commenced in Q1 2023. Revenue grew from approximately $428,100 in FY2022 to approximately $16.1 million in FY2023, before experiencing material decline toward the end of FY2025. The company operates as a single segment. CEO is David Lazar and CFO is Donna Guy, per the FY2025 10-K filed March 31, 2026.

Revenue model

Transactional commission model: Sow Good earns 10% of gross receipts from customer sales made by its exclusive distributor, Trea Grove, LLC. Revenue is recognized when orders are shipped to customers. Prior to December 30, 2025, the company operated a vertically integrated manufacturing and direct-sales model.

Products and services

Freeze-dried candy marketed under the Sow Good Candy brand, consisting of freeze-dried versions of gummy, chewy, and hard candies transformed into crunchy snack formats with concentrated flavor. Products are offered in multiple flavor profiles, shapes, and pack sizes. Additional freeze-dried snack concepts are under development. The company owns two U.S. trademark registrations and had six pending U.S. trademark applications as of December 31, 2025.

Customers and end markets

Retail and distributor channels served through Trea Grove as exclusive distributor. End consumers are snack purchasers in the freeze-dried candy category. The filing notes loss of certain significant customers and heat-related product damage in late 2024 as factors that increased inventory levels and negatively impacted financial position.

Value-chain role

Brand owner and brand steward. Product manufacturing, packaging, sourcing of raw materials, order fulfillment, warehousing, logistics, and customer relationships with retailers and distributors are all handled by third parties. Sow Good's role is brand development, product strategy, and marketing support.

Geographic exposure

U.S.-based operations. The Distribution Agreement with Trea Grove covers exclusive worldwide distribution, but no specific non-U.S. revenue or market data is disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-31

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