Snakes & lattes inc. reports q3 fy2026 quarterly results

SNAKES & LATTES INC. is pleased to provide shareholders with a summary of its Q3 fiscal 2026 results. The quarter showed continued improvement across the Company’s consolidated results, with stronger revenue, improved gross profit, reduced operating loss, positive operating cash flow, and encouraging performance from the Company’s U.S. restaurant operations.

For Q3 2026, consolidated revenue increased to $2.01 million, compared with $1.85 million in Q2. Gross profit improved to $1.58 million, compared with $1.46 million in the prior quarter. The Company reduced its consolidated operating loss to ($63,625), compared with ($113,673) in Q2, and net loss improved to ($94,208), compared with ($137,497) in the prior quarter. The Company also generated positive cash flow from operating activities of $82,195 and ended the quarter with $114,177 in cash and equivalents.

The most encouraging results came from the Company’s U.S. restaurant operations. For the quarter ended March 2026, the U.S. restaurants generated approximately $1.34 million in revenue, $1.05 million in gross profit, $153,000 in operating profit, and $240,000 in EBITDA. Restaurant-level EBITDA margin was approximately 18%, compared to an industry average of 10%.

The U.S. restaurants also showed strong operational momentum. Admissions increased to 25,478, compared with 20,441 in the prior quarter, while revenue per admission remained healthy at approximately $53. Cost of goods sold remained stable at approximately 22%, gross profit margin held at approximately 78%, and payroll improved to approximately 28% of revenue.

These results reinforce management’s belief that the U.S. hospitality platform remains the Company’s strongest path forward. The restaurant operations are demonstrating positive venue-level economics, strong guest demand, and meaningful EBITDA generation. Importantly, the U.S. restaurants themselves were profitable at the operating level during the quarter.

At the same time, the Company continues to manage legacy liabilities, negative equity, corporate overhead, and working capital constraints. For Q3, U.S. holding company expenses reduced the overall contribution from the restaurant operations. Management’s focus remains on reducing the impact of corporate overhead, improving structure and reporting, and allowing more of the restaurant-level profitability to flow through to consolidated results.

Looking ahead, management’s priorities remain focused on:

• Growing U.S. restaurant revenue;

• Continuing to improve restaurant-level EBITDA;

• Increasing event, group, and private-party revenue;

• Maintaining strong gross margins;

• Managing payroll, occupancy, and operating expenses;

• Reducing the drag of holding company overhead;

• Improving corporate structure and reporting;

• Reducing liabilities where possible;

• Building a clearer platform for future hospitality growth.

While challenges remain, Q3 represented a positive step forward. The Company’s consolidated results improved, and the U.S. restaurant business continued to demonstrate the operating strength management believes can serve as the foundation for long-term shareholder value.

This release contains forward-looking statements within the meaning of applicable U.S. securities laws, including the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements relate to future events, expectations, plans, and projections, and may be identified by terms such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “may,” “will,” and similar expressions.

Forward-looking statements include, but are not limited to, statements regarding the Company’s guidance, outlook, strategies, objectives, market conditions, and potential acquisitions. These statements are based on current expectations, assumptions, and estimates, and are subject to a number of known and unknown risks and uncertainties, many of which are beyond the Company’s control.

Actual results may differ materially from those expressed or implied in these statements due to various factors, including economic, competitive, regulatory, and market conditions, as well as the Company’s ability to finance and complete acquisitions or other strategic initiatives.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. These statements are not guarantees of future performance. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or otherwise.