Jamieson Wellness (JWEL) Q1 2026 earnings summary

Executive summary

• Q1 2026 consolidated revenue grew 16.3% year-over-year to $169.8 million, with strong branded momentum and performance across all key markets, especially China and International segments.

• Adjusted EBITDA rose 17.6% to $22.4 million, and adjusted diluted EPS increased 21.4% to $0.17.

• Net earnings reached $9.6 million, a turnaround from a net loss in Q1 2025.

• Margins expanded, driven by higher volumes in China, favorable product mix, and operational efficiency.

• The company reaffirmed its full-year 2026 outlook, citing strong execution and durable health and wellness trends globally.

Financial highlights

• Consolidated revenue: $169.8 million, up 16.3% year-over-year.

• Gross profit increased by $13.9 million to $69.1 million, with gross margin up 290 basis points to 40.7%.

• Adjusted EBITDA: $22.4 million (13.2% margin); net earnings: $9.6 million; adjusted net earnings: $7.4 million.

• Adjusted diluted EPS was $0.17, up 21.4% year-over-year.

• Cash from operations before working capital was $12.6 million, up from $4.7 million in Q1 2025.

Outlook and guidance

• Full-year 2026 consolidated revenue guidance reaffirmed at $895–$935 million (9.0%–13.7% growth); adjusted EBITDA at $174–$181 million; adjusted diluted EPS at $2.08–$2.21.

• Jamieson Brands revenue expected to grow 9.4–13.6% ($795–$825 million); strategic partners growth revised to 5–15%.

• Q2 2026 consolidated revenue expected at $220–$228 million; Jamieson Brands up 13–17%, strategic partners up to 10%.

• Guidance reflects current trade environment and is subject to risks from global trade policy changes.

• SG&A expected to increase 10%–16% in 2026.