Noumi (NOU) Q1 2026 earnings summary

Executive summary

• Q1 FY26 revenue reached $162.4 million, a 9.0% increase year-over-year, driven by strong Dairy and Nutritionals growth and stable Plant-based Milks performance.

• Operating cash flow for the quarter was $12.8 million, including $3.7 million in legal expenses related to legacy matters.

• The Victorian Supreme Court approved the Class Action Settlement, resolving key legacy legal issues.

• Unrestricted cash at quarter-end was $21.9 million, with $10.0 million in undrawn facilities, totaling $31.9 million in available liquidity.

Financial highlights

• Consolidated Q1 FY26 revenue increased by $13.4 million (9.0%) compared to Q1 FY25.

• Dairy and Nutritionals revenue rose by $13.9 million (13.7%) year-over-year, while Plant-based Milks revenue declined by $0.5 million (1.0%).

• Operating cash flow was $12.8 million, positively impacting the cash balance, which increased by $5.7 million from Q4 FY25.

• Capital expenditure for the quarter was $1.1 million.

Outlook and guidance

• Management is pleased with Q1 FY26 performance but notes variability in month-to-month market conditions.

• Planning has commenced for the maturity of Convertible Notes in 2027.