Canada's Goodfood Market Q2 net sales fall 26%, net loss widens

Goodfood Market

21/04/2026 11:40

Overview

Canada meal solutions provider's fiscal Q2 net sales fell 26% yr/yr amid CFIA suspension

Gross margin dropped 12 percentage points due to higher costs from CFIA suspension

Net loss widened to C$6.8 mln, impacted by lower sales and reorganization costs

Outlook

Company is focused on improving unit economics and generating consistent cash flow

Goodfood plans selective expansion into adjacent food categories to support growth

Management remains focused on strengthening the balance sheet and maintaining capital flexibility

Result Drivers

CFIA SUSPENSION - Temporary CFIA license suspension reduced sales and increased costs, impacting gross margin and net loss

HIGHER COSTS - Gross margin fell due to higher shipping, labour and production costs mainly driven by the temporary CFIA suspension and lower fixed cost absorption

REORGANIZATION COSTS - Employee termination and other reorganization costs contributed to wider net loss

Company press release: ID:nGNX3zgHGT

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
C$22.5 mln
C$22.50 mln (1 Analyst)
Q2 EPS
-C$0.07
Q2 Net Income
-C$6.8 mln
Q2 Gross Margin
30.60%
Q2 Gross Profit
C$6.9 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the online services peer group is "buy."

Wall Street's median 12-month price target for Goodfood Market Corp is C$0.25, about 16.3% above its April 20 closing price of C$0.22

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)