Business
Purebread Brands Inc. Reports Q2 2026 Results
Year-to-date adjusted EBITDA (1): $1.5 million, improved 1700% YoY Year-to-date gross margin: ...
About this update from Purebread Brands Inc.
[{"type":"text","content":"Purebread Brands Inc. Reports Q2 2026 ResultsYear-to-date adjusted EBITDA (1): $1.5 million, improved 1700% YoYYear-to-date gross margin: 64%, improved from 62% YoYYear-to-date operating expenses: decreased 32% YoYVancouver, British Columbia--(Newsfile Corp. - December 1, 2025) - Purebread Brands Inc. (TSXV: BRED) (\"Purebread\" or the \"Company\") is pleased to announce its financial results for the three and six months ended September 30, 2025, the highlights of which are included in this news release. The full set of Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis can be viewed by visiting the Company's website at www.purebreadbrands.com or its SEDAR+ profile at www.sedarplus.ca.Financial Highlights - Six Months Ended September 30, 2025Adjusted EBITDA of $1.5 million, a 1700% improvement from a loss of $(0.1) million in the prior year period. Improvements in Adjusted EBITDA are attributable to the ongoing efforts to streamline the business and maximize efficiency in operating expenses.Gross margin increased year-over-year to 64% from 62% in the prior year period. The increase in gross margin was primarily driven by the Company's strategic rationalization of operations, including a shift in focus toward its core bakery business and reduced emphasis on the Coho Kitchens, resulting in lower overall costs.Operating expenses decreased 32% year-over-year. The decrease in the operating expenses aligns with management's cost-reduction efforts and continued focus on streamlining the business going forward.Revenue decreased 11% year-over-year from $8.7 million in the prior year period to $7.8 million. The decrease in revenue was the result of the discontinuation of certain Coho kitchen locations.Three Months Ended September 30, 2025Three Months Ended September 30, 2024Six Months Ended September 30, 2025Six Months Ended September 30, 2024  $   $   $   $  Net income (loss) 3,077,138(1,066,950)3,050,136(2,972,706)Amortization272,762594,432518,6061,117,573Accretion108,377101,053215,341203,381Gain on debt-to-equity settlement(3,770,692)-(3,770,692)-Interest793,867723,0491,441,5551,434,990Share based compensation2,32659,40916,893129,309Adjusted EBITDA483,778410,9931,471,839(87,453) (1) Adjusted EBITDA is a non-IFRS measure defined...