Business
Goodfood Reports Second Quarter of 2026 Results and Advances Strategic Reset Focused on Cash Generation and Core Economics
Net sales were $23 million in the second quarter, with gross profit of $7 million and gross margi...
About this update from Goodfood Market Corp.
[{"type":"text","content":"Goodfood Reports Second Quarter of 2026 Results and Advances Strategic Reset Focused on Cash Generation and Core Economics\nNet sales were $23 million in the second quarter, with gross profit of $7 million and gross margin1 reaching 30.6%, a 12.0 percentage points decline over the Q2 last year Net loss of $7 million compared to $2 million in the same period last year, adjusted EBITDA margin2 of negative 4.4% and adjusted EBITDA2 loss of $1 million for the second quarterCash flows used by operating activities of $2.4 million and adjusted free cash flow2 was negative $2.0 million for the second quarter, with cash balance and marketable securities3 at $9 million bringing net leverage2 ratio to 10xAdvancing a focused strategic reset centered on an enhanced product offering and a disciplined cost structure to drive sustainable, profitable growth MONTREAL, April 21, 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 and 26 weeks ended March 7, 2026. The Company is advancing a focused strategic reset centered on simplifying operations, enhancing its product offering, and reinforcing a disciplined cost structure to support sustainable, profitable growth. Second quarter results reflect the impact of a temporary Canadian Food Inspection Agency (CFIA) license suspension and a softer demand environment, which affected net sales and margins during the period. As a result, our net sales were $23 million, gross profit was $7 million, with gross margin1 of 30.6%, net loss was $7 million, with adjusted EBITDA margin2 of negative 4.4% and adjusted free cash flow2 was negative $2.0 million, with cash and marketable securities3 of $9 million. “Second quarter results reflect the impact of a temporary disruption and softer demand. More importantly, CFIA clarified what needed to change—and we are acting on it decisively,” said Selim Bassoul, Chairman and CEO. “We have simplified our cost structure, reduced complexity, and refocused the business on its core economics. At the same time, we are improving our product with better quality, larger portions and greater convenience to align with what custome...