Edible Garden (EDBL) investor relations material

Executive summary

• Revenue grew 22.9% year-over-year to $3.3 million for Q1 2026, driven by retail expansion and growth in cut herbs, vitamins, supplements, and condiments.

• International sales surged 50% year-over-year, with PriceSmart as a key driver in the Caribbean and South America.

• Distribution footprint expanded to over 6,000 retail locations, including new partners like Target, Safeway, Kroger, and Weis Markets.

• Strategic focus is shifting toward higher margin, shelf-stable, clean-label, and ready-to-drink (RTD) nutrition products, leveraging vertically integrated infrastructure.

Financial highlights

• Revenue for Q1 2026 was $3.3 million, up from $2.7 million in Q1 2025, a 22.9% increase.

• Operating expenses rose to $10 million from $5.6 million, mainly due to increased cost of goods sold and $2.5 million in accelerated depreciation tied to the RTD pivot.

• Net loss was $3.7 million, compared to $3.3 million in the prior year, with net loss per share improving to $(5.25) from $(24.74) due to higher share count.

• Cash and equivalents at quarter-end totaled $1.95 million, the first sequential increase in five quarters, driven by positive operating cash flow and net financing inflows.

• Income tax benefit of $3.4 million was recorded, primarily from a valuation allowance release and sale of state tax benefits.

Outlook and guidance

• Priorities for 2026 include scaling revenue, improving cost structure, advancing the RTD platform, and maintaining disciplined capital management.

• Expectation of margin improvement as higher margin categories scale and cost efficiencies are realized.

• RTD products expected to become a larger part of the business, with prototypes launching mid-year and manufacturing ramping up in Q3.

• RTD category seen as a significant long-term opportunity, with global market projected to grow to $1.26 trillion by 2033.

• Continued focus on expanding branded product portfolio and scaling RTD manufacturing with Tetra Pak integration.