EDBLW · Edible Garden AG Incorporated

Edible Garden AG Incorporated delivered first quarter 2026 results showcasing robust top-line growth amid its strategic pivot toward a diversified clean-label nutrition platform. Revenue climbed 22.9% year-over-year to $3.3 million, propelled by a 46% surge in cut herb sales from expanded accounts at Kroger and Weis Markets, alongside 27% growth in vitamins and supplements, 50% in international sales, and 51% in condiments. This broad-based expansion reflects successful leveraging of its retail network spanning over 6,000 locations, including new partnerships with Target, Safeway, The Fresh Market, Hannaford, Busch’s, and Woodman’s, bolstering distribution for branded products like Pickle Party™, Pulp®, Kick. Sports Nutrition®, Vitamin Whey®, and JEALOUSY GLP-1 support items. CEO Jim Kras highlighted the momentum from prior investments in retail, portfolio, and infrastructure, positioning the company to capitalize on the burgeoning ready-to-drink (RTD) nutrition market. Key operational progress includes advancing the Midwest RTD manufacturing hub at Prairie Hills in Iowa with Tetra Pak integration for aseptic processing, addressing demand for shelf-stable functional beverages under the Farm-to-Formula® strategy. However, profitability remains challenged, with operating expenses ballooning 77.5% to $10.0 million due to elevated cost of goods sold from higher-volume, third-party sourced cut herbs and a $2.5 million spike in depreciation tied to accelerated asset write-downs for the RTD shift. A $3.4 million income tax benefit from New Jersey tax credit sales partially offset pressures, narrowing the per-share loss to $(5.25) from $(24.74) despite the wider absolute net loss of $3.7 million. Balance sheet shows $1.95 million in cash against $2.2 million short-term debt and $8.6 million total liabilities, underscoring liquidity focus amid growth investments. Management emphasized early-stage execution with potential for improved margins and scalability through higher-value categories, though no formal guidance was provided.