Innovative Food Holdings Q2 revenue falls on digital partner transition, customer losses

Innovative Food Holdings

14/08/2026 01:47

Overview
U.S. gourmet foods seller's Q2 revenue fell 21.5% yr/yr due to digital partner transition and customer losses
Gross margin for Q2 rose to 26.2% from 25.7% last yr
Company says revenue decline concentrated in digital partner transition and national customer loss

Outlook
Company expects year-over-year comparisons in Local Distribution to improve toward year-end
Company says revenue pressures remain concentrated in digital transition and national distribution losses
Company is recruiting a Director of National Sales to broaden its pipeline and support volume growth

Result Drivers
DIGITAL PARTNER TRANSITION - Co said digital channel revenue decline was mainly due to ongoing transition issues with its largest digital partner
NATIONAL CUSTOMER LOSS - National Distribution revenue fell due to specific customer and product-program losses to competitors, including the loss of a developing airline-catering customer late in Q2
LOCAL DISTRIBUTION ATTRITION - Local Distribution revenue continued to decline, though the rate of decline moderated as the company laps prior customer attrition

Company press release: ID:nGNXyYD1f

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$13.10 mln
 
Q2 Gross Margin
 
26.20%
 

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(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.)