Revenue for Q1 fiscal 2026 grew 18% year-over-year to $35.3M, driven by over 90% volume growth, new product introductions, and customer expansions, despite a challenging macroeconomic environment.
Gross margin returned to target range at 26.1%, with significant operational efficiency gains and strategic CapEx investments; trade promotion spend increased to a record 6% of gross revenue, up from 2% last quarter.
Net income more than doubled to $1.2M (3.5% of revenue), and adjusted EBITDA rose 12% to $2.8M; cash and equivalents increased to $12M, while total debt decreased to $4.6M.
Management remains confident in sustaining double-digit revenue growth and high-20% gross margin profile for the remainder of fiscal 2026, supported by fixed-price protein contracts and ongoing operational improvements.
Strategic priorities include continued investment in trade promotions and marketing (notably strong ROAS on digital campaigns), further in-house chicken trimming, disciplined M&A targeting deli companies with manufacturing, and expanding distribution with major retailers such as Costco, Walmart, Publix, BJ’s, and Amazon Fresh.