Edible Garden AG Earnings Call Transcripts
Fiscal Year 2026
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The reconvened annual meeting established quorum, introduced management, and addressed four key proposals, all of which were approved by shareholders. The board responded to concerns about financial partnerships and emphasized strategic growth.
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The annual meeting was called to order virtually, but a quorum was not present, so no business could be conducted. The meeting was adjourned and rescheduled for June 30th, 2026, as a virtual event.
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Revenue rose 22.9% year-over-year to $3.3M, driven by strong growth in cut herbs, vitamins, and condiments, with international sales up 50%. Strategic focus is shifting to higher margin, shelf-stable RTD nutrition products, supported by new retail partnerships and operational efficiencies.
Fiscal Year 2025
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2025 saw expansion into higher margin CPG and RTD categories, with distribution reaching 6,000 stores and strong growth in core and new product lines. Margin recovery and RTD facility build-out are key 2026 priorities, with robust demand and improved equity position.
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Q3 revenue rose 9% year-over-year to $2.8M, led by a 54% surge in shelf-stable CPG products, but gross profit and net income declined due to higher costs. Strategic expansion, new retail partnerships, and a facility acquisition position the company for continued growth into 2026.
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Q2 results reflect a strategic shift to higher-margin categories, with private label and international sales driving growth despite a year-over-year revenue decline. Investments in R&D, new product launches, and the Prairie Hills acquisition position the company for a strong Q4 and long-term expansion.
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Q1 2025 saw a strong start with improved gross margin and reduced net loss, driven by a shift to higher margin, shelf-stable products and expanded retail presence. The $15.5M acquisition of Natural Shrimp Farms enhances R&D and vertical integration, supporting future growth.
Fiscal Year 2024
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Gross profit surged 181.3% in 2024 with gross margin nearly tripling to 16.7%, driven by a strategic focus on core, higher-margin products and vertical integration. The company is poised for further growth in 2025, with new product launches, improved liquidity, and a proposed international acquisition.
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Gross profit and margin surged in Q3 2024, driven by a strategic shift to higher-margin products and operational efficiencies. Revenue declined due to exiting low-margin categories, but the company expects a strong Q4 and continued growth from new product launches and expanded retail partnerships.
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Gross profit surged 157% year-over-year as the business shifted to higher-margin, in-house products and expanded distribution of new lines. Gross margin reached 34.4%, and operational losses narrowed, with further growth and margin improvements expected in the second half of 2024.