Better Choice Company Inc. (BTTR): Marketing Mix Analysis [Dec-2025 Updated]

You're trying to map out the real value of Better Choice Company Inc. after its massive pivot, and honestly, it's a lot more complex than just premium kibble now. As a former head analyst, I see a global health and wellness entity aiming for a $270 million revenue projection in 2025, built on a foundation that includes specialty pharmacy networks and pet Rx initiatives, all while maintaining a solid 37% gross margin. So, let's cut through the noise: I've distilled exactly how their Product, Place, Promotion, and Price strategies-from digital-first sales on platforms like Chewy to value-based healthcare pricing-are set to deliver on that scale, and you'll want to see the specifics below.

Better Choice Company Inc. (BTTR) - Marketing Mix: Product

The product portfolio for Better Choice Company Inc., which transitioned to SRx Health Solutions Inc. effective April 30, 2025, is now a dual-focus offering spanning premium pet wellness and comprehensive specialty healthcare services.

The pet health segment continues to center on premium pet food and supplements under established brands.

• The Halo brand has a history spanning 30+ years, offering kibble, canned food, freeze-dried raw food, treats, toppers, dental products, chews, and supplements for dogs and cats.
• The TruDog brand manufactures dry meals, food, supplements, and Bona Vida CBD-infused products.
• Fourth quarter of 2024 sales growth for these products reached 26% year-over-year, with a 32% increase specifically across the Chewy and Amazon platforms.
• The gross margin for the fourth quarter of 2024 was reported at 36%.
• The company completed the sale of its Halo subsidiary\'s Asian business for total gross proceeds of $8.1 million, which included $6.5 million in upfront cash.

The integration of SRx Health Solutions Inc. introduced a significant specialty pharmacy and integrated healthcare solutions component to the product/service offering, aligning with the vision for products and solutions for pets, people, and families.

The newly integrated healthcare services include:

• Specialty pharmacy network services across all ten Canadian provinces.
• 40 specialty health/infusion clinics.
• Two wholesale distribution facilities.
• A sterile compounding facility in the U.S. following the Letter of Intent to acquire Choice Specialty Pharmacy Group.

The SRx platform, prior to the merger, operated 35 specialty pharmacy locations in Canada. The strategic goal is to expand this Canadian network from 34 to 100 specialty pharmacy locations across mid-sized population centers.

The Better Pet Rx initiative, launched in 2025, represents the expansion into veterinary medicine, complementing the existing pet food portfolio by leveraging the infrastructure gained from the SRx Health merger.

Financial projections for the combined entity for the 2025 fiscal year reflect the expanded scope:

The company's trailing twelve months revenue as of June 2025 was reported at $37.14 million.

The company completed an $8.8 million private placement in April 2025, consisting of shares and pre-funded warrants at a price of $2.18 per share.

The product development focus includes filling out the innovation pipeline for pet food and expanding the healthcare services vertical.

Better Choice Company Inc. (BTTR) - Marketing Mix: Place

Place, or distribution, for Better Choice Company Inc. (now operating as SRx Health Solutions Inc. as of April 30, 2025) reflects a dual focus: maintaining a strong digital presence for its core pet products while integrating a significant physical healthcare services footprint following the acquisition of SRx Health Solutions Inc..

Digital distribution remains a priority for the Halo brand, leveraging established e-commerce channels. The strategy centers on a strong digital-first distribution approach through major online platforms. The company utilizes platforms like Amazon and Chewy to reach pet parents directly, capitalizing on the established infrastructure of these online retailers for pet products.

The integration of SRx Health has established a robust omni-channel presence, extending beyond pure e-commerce into specialty brick-and-mortar retail environments via the pharmacy network. This transition positions the company to leverage operational synergies, including infrastructure and distribution, across both pet and human health verticals.

The physical network supporting the healthcare services segment is substantial, anchored in Canada. This network includes a physical network of 35 specialty pharmacy locations in Canada, which are now part of the combined entity.

Supporting this physical footprint are logistics assets dedicated to Canadian healthcare distribution. There are two wholesale distribution facilities supporting Canadian healthcare operations. The combined entity projected net revenue for the financial year 2025 to be over $270 million, a figure supported by this expanded distribution capability.

Regarding international reach, Better Choice Company executed a strategic divestiture to focus resources on North America. The Asian Halo business was sold for $8.1 million in total gross proceeds. This transaction, which closed in April 2025, included $6.5 million in upfront cash and a 5-year royalty agreement guaranteeing a minimum total payment of $1.65 million.

The key components of the current distribution and service network are summarized below:

The company is also expanding its U.S. footprint in healthcare services, having signed a Letter of Intent to acquire Choice Specialty Pharmacy Group, which includes a sterile compounding facility in the U.S.. The company also secured an $8.8 million private placement in April 2025 to support growth strategies.

Distribution channels utilized for the pet product portfolio include:

• Amazon platform access.
• Chewy platform access.
• Specialty brick-and-mortar retail (via pharmacy integration).
• Direct-to-consumer via company websites.

Finance: draft Q4 2025 distribution channel performance review by December 15th.

Better Choice Company Inc. (BTTR) - Marketing Mix: Promotion

You're looking at the promotional activities of Better Choice Company Inc. as it transitions into its new structure. The focus has clearly shifted to digital channels to drive sales velocity, which is a key part of the strategy moving into late 2025.

The digital marketing focus has shown concrete results, directly contributing to significant e-commerce growth. Specifically, the emphasis on key accounts like Amazon and Chewy resulted in 32% growth across those platforms in the fourth quarter of 2024. This sales velocity is what management views as a critical building block for long-term growth, as it increased the number of new-to-brand consumers for the Halo brand. The company achieved its best quarter with Amazon since the first quarter of 2023, and successfully launched Halo on Chewy Canada in November 2024.

The brand positioning is central to the promotional narrative. Better Choice Company Inc. is communicating its identity as a global health and wellness solutions provider, a position strongly reinforced by the completion of the business combination with SRx Health Solutions, Inc. (which saw the company rebrand to SRx Health Solutions Inc. with ticker SRXH effective April 30, 2025). This positioning leverages the mainstream trends of growing pet humanization and the consumer focus on health and wellness. You see this messaging consistently, emphasizing an alternative, nutrition-based approach to pet health over conventional offerings.

The core product promotion for the pet segment heavily emphasizes natural, science-backed nutrition. The Halo brand, which remains a key asset, is promoted based on its focus on sustainably sourced kibble and canned food derived from real whole meat, alongside minimally processed raw-diet dog food and treats. This messaging directly addresses the consumer desire for premiumization and wellness in pet care.

A significant part of the forward-looking promotional and strategic narrative involves leveraging the new capabilities from the SRx Health acquisition. The plan is to implement growth strategies across both entities to launch into new verticals and geographies, utilizing SRx Health's specialty pharmacy network and pharma relationships. This cross-pollination is intended to accelerate growth for the combined global health and wellness company.

Investor communications are tightly linked to the financial outlook, which serves as a key promotional tool to secure confidence. Management has been highlighting the $270 million projected revenue for the combined entity in 2025. This projection, shared with investors, underpins the confidence in the new, broader health and wellness focus.

Here is a quick look at the promotional impact and financial context as of the late 2024/early 2025 period:

The promotional strategy is supported by a commitment to shareholder returns tied to the core pet brand. The Board approved a unique royalty distribution plan, committing up to 55% of the annual royalties generated by the flagship Halo brand to be distributed annually to stockholders of record as of December 31 of the given year. This financial incentive is a direct communication to the investment community about the perceived value of the core pet nutrition assets.

The company is using several channels to convey its integrated health and wellness message, which you can track through these key communication elements:

• Increased focus and participation in Black Friday promotions across Amazon and Chewy.
• Leveraging the established digital footprint to educate pet parents on informed decisions.
• Communication of the post-merger structure as a leading global health and wellness company.
• Highlighting the $10+ million projected EBITDA for the combined entity in 2025.

Better Choice Company Inc. (BTTR) - Marketing Mix: Price

The pricing structure for Better Choice Company Inc. (BTTR), which transitioned to SRx Health Solutions Inc. (SRXH) in April 2025, is segmented across its distinct business units, designed to reflect the perceived value proposition of each offering while supporting the combined entity's growth and scale.

For the pet portfolio, the strategy centers on premium positioning. Better Choice Company Inc. continues to operate its established premium and super-premium pet products under the Halo brand. This positioning is supported by product attributes such as being sustainably sourced, derived from real whole meat, and including non-GMO fruits and vegetables. This premium pricing aims to capture share in the $50+ billion U.S. pet care market, which is noted for growing at approximately 6% annually.

The core pet food operations demonstrated significant margin discipline, which underpins the pricing power. The full-year 2024 gross margin reached 37%. This is indicative of a pricing model that, while premium, is supported by internal cost management, aligning with a cost-plus pricing model supported by this high margin achievement.

The pricing for the specialty pharmacy and healthcare services, primarily driven by the SRx Health segment following its April 2025 merger, leans toward value-based pricing. This is necessary given the complexity and high cost of the services provided, such as managing specialty medication regimes and overcoming barriers like exclusive distribution and high drug cost navigation. The Canadian specialty pharmacy network includes 35 locations and 40 infusion clinics. Furthermore, the acquisition of Choice Specialty Pharmacy in the U.S. in February 2025 establishes a platform to leverage the private healthcare market.

The overall pricing structure is explicitly intended to support the combined entity's trajectory toward profitability and scale. The projected combined 2025 financial outlook, post-merger, anticipates $270+ million in revenue and $10+ million in EBITDA. This targeted $10+ million in 2025 EBITDA is the financial benchmark the current pricing strategies must support, leveraging operational synergies estimated to exceed $1.7 million.

Key financial metrics underpinning the pricing strategy's success include:

• Full Year 2024 Gross Margin: 37%.
• Q4 2024 Gross Margin: 36%.
• Projected Combined 2025 EBITDA: $10+ million.
• SRx Health 2023 Pro Forma Adjusted EBITDA: C$11.4 million.
• Halo Asia Business Sale Cash Component: $6.5 million.

The company also utilized pricing mechanisms related to its equity structure to manage capital, which indirectly affects the financial foundation supporting all pricing decisions. The stock repurchase program was increased to $6.5 million through December 31, 2025. Shares under the previous program were repurchased at an average price of $1.9869 per share. The private placement to fund the merger was priced at $2.18 per share, raising aggregate gross proceeds of $8.8 million.