Edible Garden AG rporated(EDBL) - 2025 Q3 - Quarterly Results

Revenue Growth - Revenue increased by 9% to $2.8 million for the third quarter ended September 30, 2025, compared to $2.6 million in the same quarter of 2024[8] - International vitamin and supplements revenue rose 90.2% year-over-year, indicating significant growth in international markets[6] - Non-perishable unit sales surged approximately 49.3% year-over-year, driven by strong performance in shelf-stable product lines[6] Profitability and Loss - Gross profit for the quarter totaled approximately $0.3 million, down from $0.7 million in the prior-year quarter, due to higher costs[9] - The net loss for the quarter was $4.0 million, compared to a net loss of $2.1 million in the third quarter of 2024[10] - Net loss for the current period was $4,045 million, compared to a net loss of $2,063 million in the previous period, representing an increase of 96.3%[31] - Loss from operations increased to $3,558 million from $1,490 million, indicating a significant decline in operational performance[31] - Net income per common share was $(1.38), a decrease from $(16.32) in the previous period, reflecting worsening financial results[31] - The total net loss attributable to common stockholders reached $21,245 million, up from $7,972 million, highlighting a concerning trend[31] Expenses - Selling, general and administrative expenses increased to $3.8 million from $2.2 million in the same period last year, primarily due to higher depreciation expenses[10] - The company reported a total of $11,073 million in selling, general and administrative expenses, an increase from $8,823 million, reflecting rising operational costs[31] Operational Performance - Same store sales for Hydroponic Basil, Potted Herbs, and Wheatgrass increased by 28.6%, 22.6%, and 59.2% respectively[6] - The company is focused on long-term sustainable profitability and has built a more resilient organization to capture growth across both fresh and non-perishable categories[7] Strategic Initiatives - The company expanded its distribution network, launching products at major retailers including Kroger and The Fresh Market[4] - The acquisition of NaturalShrimp's assets is expected to enhance vertical integration and sustainable aquaculture capabilities[5] Financial Instruments and Other Income - Total other income (expenses) amounted to $(487) million, compared to $(573) million in the prior period, showing a slight improvement[31] - Interest expense, net decreased slightly to $(387) million from $(409) million, suggesting a minor improvement in financing costs[31] - Gain on change in derivative liability was $9 million, indicating some positive movement in financial instruments[31] - The deemed dividend on warrants was $(9,833) million, which impacted the net loss attributable to common stockholders significantly[31] - Weighted-average number of common shares outstanding increased to 2,934,311 from 126,416, indicating a substantial dilution effect[31]