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, with record monthly fulfillment in March.

• The platform offers over 450 FDA-approved medications, focusing on convenience, direct-to-patient delivery, and a vertically integrated, cash-pay model across 48 states (excluding North Carolina and Arkansas).

• The business model targets the rapidly expanding U.S. cash-pay prescription market, emphasizing repeat customer revenue, scalability, and leveraging regulatory and digital health trends.

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

Financial highlights

• Q1 2026 revenue reached $19.4 million, up 180% year-over-year; gross profit was $10.7 million with a 55% margin, up from 50% in Q1 2025.

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

• Net loss was $4.7 million, versus a gain of $38,000 in the prior year quarter, 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 and continued investment in marketing and customer conversion.

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

• Forecasts are based on historical KPIs and assume ongoing scaling of the platform and stable customer acquisition costs.