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Goodfood Market
Goodfood Market (FOOD) investor relations material
Goodfood Market Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary20 Jan, 2026
Executive summary
Delivered positive adjusted EBITDA and adjusted free cash flow in Q1 FY2026 despite ongoing meal kit market pressure, reflecting disciplined cost control and margin focus.
Product evolution and portfolio diversification, including Heat & Eat and Genuine Tea, are supporting profitability and mitigating pressure in the meal kit category.
Leadership transition is nearly complete, with a sharpened focus on simplification, execution, and accountability.
Addressed and resolved a temporary license suspension at the Montreal facility, emphasizing food safety and compliance.
Financial highlights
Net sales for Q1 FY2026 were CAD 27.5 million (or $28 million), down 21% year-over-year due to fewer active customers and lower order rates.
Gross margin improved to 42.3%, up 2.7 percentage points year-over-year, primarily from higher average order value and lower incentives.
Adjusted EBITDA was CAD 1 million ($1.0M), with a margin of 3.7%, down from CAD 1.6 million (4.7%) year-over-year.
Net loss was CAD 2.6 million ($2.6M), compared to CAD 1.7 million ($1.7M) a year ago; some sources report a net loss of $3 million.
Cash and equivalents plus marketable securities totaled approximately CAD 14.5 million ($15 million) at quarter end.
Outlook and guidance
No near-term recovery assumed for the meal kit category; focus remains on margin protection, cash generation, and disciplined operations.
Turnaround expected to take up to 18 months, aiming for sustainable outperformance.
Ongoing operational review to improve execution, decision-making, and cost structure alignment with current volumes.
M&A strategy will be highly selective, targeting only immediately accretive opportunities and leveraging acquisitions like Genuine Tea for growth.
Detail the 18-month turnaround plan
How will M&A be structured with elevated leverage?
Identify specific structural cost drags
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Next Goodfood Market earnings date
AGM 202626 Feb, 2026
Goodfood Market
Next Goodfood Market earnings date
AGM 202626 Feb, 2026
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Frequently asked questions
GoodFood Market Corp., an online grocery company, delivers fresh meals and grocery products in Canada. The company offers dried foods such as rice and beans, spices, nuts, creamy polenta, butter to European customers based on the availability of raw materials from farmers. It also sells fresh food items such as breakfast meals, fresh fish and poultry, groceries for kids, lunch or dinner recipes. GoodFood Market Corp., is based in Montreal, Canada.
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