TelyRx Holdings (TELY) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 grew 180% year-over-year to $19.4 million, with 35% sequential growth from Q4 2025, driven by both new and recurring customers.

• Prescriptions fulfilled rose 188% to 236,000 in Q1 2026, up from 82,000 in Q1 2025 and 177,000 in Q4 2025, with record monthly fulfillment in March.

• The platform offers over 400 FDA-approved medications, focusing on convenience and direct-to-patient delivery.

• The business model targets the growing U.S. cash pay prescription market, emphasizing repeat customer revenue and scalability.

• Completed a reverse takeover and began trading on the TSX under the symbol "TELY" in April 2026.

Financial highlights

• Gross profit increased to $10.7 million from $3.5 million year-over-year; gross margin improved to 55% from 50%.

• Adjusted EBITDA was a loss of $2.3 million, compared to a gain of $218,000 in Q1 2025.

• Net loss was $4.7 million, versus a gain of $38,000 in the prior year quarter, and $3.1 million loss in Q4 2025, driven by higher marketing, G&A, and go-public transaction expenses.

• Cash used in operations was $1.3 million; free cash flow was a loss of $715,000.

• Cash and equivalents rose to $27 million as of March 31, 2026, following equity financing.

Outlook and guidance

• Management expects to achieve over $100 million in revenue and $4 million in adjusted EBITDA for 2026, with performance tracking in line with internal plans.

• Positive EBITDA is anticipated for the full year, with improving trends as revenue scales.

• Marketing return expectations remain reasonable, targeting a 3.5x ROAS by 2026.

• Management expects continued scale and long-term revenue growth, citing strong demand and customer loyalty.

• Platform capacity can reach 97% of the U.S. population, positioning for further expansion.