Core Insights - Goodfood Market Corp. reported financial results for the 13 weeks and 39 weeks ended June 7, 2025, highlighting solid profitability metrics despite a year-over-year decline in net sales [1][2][4] - The company achieved a gross margin of 44.3% and positive Adjusted EBITDA for the quarter, marking two and a half years of positive performance in this metric [2][5] - Goodfood's Heat & Eat meals generated $1 million in run-rate revenue without advertising, indicating strong product-market fit and growth potential [3][5] Financial Performance - For the third quarter, net sales were $30.7 million, down 20% from $38.6 million in the same quarter last year [4][5] - Gross profit decreased to $13.6 million, a 20% decline from $16.9 million, while gross margin slightly improved by 0.3 percentage points [4][5] - Net income for the quarter was $0.1 million, a significant drop of 82% compared to $0.3 million in the previous year [4][5] Year-to-Date Results - Year-to-date net sales totaled $95.8 million, down 19% from $118.8 million in the previous year [6][12] - The company reported a net loss of $4.0 million for the year-to-date period, compared to a loss of $0.3 million in the same period last year [6][12] - Adjusted EBITDA for the year-to-date period was $5.7 million, down from $8.6 million, with an adjusted EBITDA margin of 5.9% [10][12] Customer Metrics - The decrease in net sales was attributed to a decline in active customers, which was partially offset by an increase in average order value [7][8] - The average basket size and net sales per active customer reached all-time highs, indicating strong customer engagement [2][20] Strategic Initiatives - Goodfood is focused on expanding its product offerings, including the launch of the Heat & Eat meal solutions and the acquisition of Genuine Tea [3][18][22] - The company aims to enhance sustainability initiatives and has received B Corp certification, reflecting its commitment to social responsibility [21][30] Capital Structure - As of June 7, 2025, total net debt was $23.5 million, with a total net debt to adjusted EBITDA ratio of 3.82, up from 2.12 the previous year [16][17] - Cash and cash equivalents decreased to $13.7 million from $26.2 million, primarily due to lower net sales and the acquisition of Genuine Tea [16][17] Future Outlook - Goodfood plans to continue generating positive cash flows and enhancing product variety to attract a broader customer base [19][23] - The company is also exploring further acquisitions to build a portfolio of next-generation brands [22][23]

MONTREAL, July 15, 2025 (GLOBE NEWSWIRE) -- Goodfood Market Corp. ("Goodfood" or "the Company") (TSX: FOOD), a leading Canadian online meal solutions company, will release its financial results for the third quarter of Fiscal 2025 on Tuesday, July 22, 2025, before markets open. Jonathan Ferrari, CEO, Neil Cuggy, President and COO, and Roslane Aouameur, CFO, will hold a conference call to review the results at 8:00 a.m. (ET) on the same day. Details of the Earnings Conference Call: Investors Media Roslane Ao ...