Business
Goodfood Reports First Quarter of 2026 Results with Net Sales of $28 million, Gross Profit of $12 million and Adjusted EBITDA¹ of $1 million
Cash flows provided by operating activities of $1.4 million and adjusted free cash flow 1 wa...
About this update from Goodfood Market Corp.
[{"type":"text","content":"Goodfood Reports First Quarter of 2026 Results with Net Sales of $28 million, Gross Profit of $12 million and Adjusted EBITDA¹ of $1 million\nCash flows provided by operating activities of $1.4 million and adjusted free cash flow1 was $1.2 million for the first quarter, with cash balance and marketable securities2 at $15 million Net sales were $28 million in the first quarter, with gross profit of $12 million and gross margin3 reaching 42.3%, a 2.7 percentage point improvement over the Q1 last year Net loss of $3 million compared to $2 million in the same period last year, adjusted EBITDA margin1 of 3.7% and adjusted EBITDA1 of $1 million for the first quarterHeat & Eat meal solutions and Genuine Tea performances contributing to sequential stabilization of revenue and cash flowsNew leadership in place with focus on stabilizing core meal kit business and diversifying revenue and profitability MONTREAL, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood”, “the Company”, “us”, “we” or “our”) (TSX: FOOD), a leading Canadian online meal solutions company, today announced financial results for the 13 weeks ended December 6, 2025. “The first quarter marks a clear step in stabilizing the business in a still-challenging operating environment, and despite these conditions, we delivered a 42.3% gross margin3, positive adjusted EBITDA1 and $1.2 million of adjusted free cash flow1. These results reflect tighter cost controls, improved execution and a deliberate focus on cash and margins,” said Selim Bassoul, Executive Chairman of Goodfood. “We are managing the business with a clear-eyed view of the market. The meal solutions category, particularly meal kits, remains under pressure, and we are not assuming a near-term recovery. Our focus is building a simpler, more resilient operating model that performs consistently at current volumes,” added Selim Bassoul. “Our operational review is nearing completion and is focused on sharpening execution, prioritizing profitable demand and deploying capital where returns are strongest. We are tightening decision-making and accountability across the organization and aligning the business around cash flow and margin performance.” “With the leadership transition almo...