The Compa y epo ted a eco d qua te ly billed eve ue of $13.6M (CAD $19.4M) i Q2 2026, ep ese ti g a YoY i c ease of 23% f om Q2 2025. The Compa y achieved positive EBITDA of $0.4M (CAD $0.6M) a d Adjusted EBITDA of $0.6M (CAD $0.8M) i Q2 2026. The Compa y completed its pla ed facility co solidatio , a cho ed by its ewly ope atio al Boli gb ook facility, a d ow ope ates f om two mode ma ufactu i g facilities totali g 210,000 squa e feet. The Compa y eceived a US$765,000 capital g a t f om the Illi ois Depa tme t of Comme ce a d Eco omic Oppo tu ity (DCEO) u de the Busi ess Att actio P ime Sites p og am, as p eviously a ou ced o August 12, 2026.
“Q2 felt like the qua te whe e thi gs eally came togethe fo us. We g ew billed eve ue 23% yea ove yea , but the bigge sto y is what’s happe i g o the g ou d,” said Bill Bese hofe , CEO a d co-fou de of The F esh Facto y. “We completed ou move to Boli gb ook a d officially closed the Ca ol St eam facility at the e d of Ap il, a majo milesto e that ou e ti e team wo ked ha d to achieve. With p oductio ow co solidated ac oss two mode facilities, we have the capacity a d flexibility to suppo t ou custome s as they g ow. While we co ti ue to wo k th ough the fi al costs associated with the t a sitio , we’ e seei g the be efits of the ew footp i t take shape a d e te i g the seco d half of the yea with a st o g fou datio fo co ti ued g owth a d imp oved efficie cy.”
Reco d billed eve ue of $13.6M (CAD $19.4M) i Q2 2026 vs. $11.0M (CAD $15.8M) i Q2 2025, a 23% i c ease, mai ly d ive by sales to existi g st ategic pa t e s ac oss a va iety of catego ies, as well as sales to ew accou ts.
Adjusted EBITDA of $0.6M (CAD $0.8M) i Q2 2026 vs. $0.8M (CAD $1.2M) i Q2 2025, p ima ily d ive by i c eased facility a d utility costs ahead of full eve ue abso ptio at the ew Boli gb ook facility, as well as co ti ued ca yi g costs fo the o igi al facility du i g its wi d-dow .
The Compa y epo ted a et loss of $0.7M (CAD $1.0M) i Q2 2026, compa ed to et i come of $0.2M (CAD $0.3M) i Q2 2025, p ima ily d ive by i c eased facility a d utility costs associated with the ew Boli gb ook facility a d dual-facility ca yi g costs th ough Ap il 2026.
Adjusted g oss ma gi was $4.1M (CAD $5.8M) i Q2 2026, compa ed to $4.0M (CAD $5.7M) i Q2 2025. Adjusted g oss ma gi , as a pe ce tage, was 30% i Q2 2026 vs. 36% i Q2 2025, eflecti g cha ges i p oduct mix a d the expected costs of b i gi g the Boli gb ook facility to full capacity, which ma ageme t a ticipates will imp ove p og essively th ough H2 2026.
The F esh Facto y is buildi g a platfo m to se ve eme gi g food a d beve age b a ds i the f esh-food secto with a emphasis o bette -fo -you p oducts. The Compa y has established the followi g th ee key a eas of focus o which it will epo t o a qua te ly basis movi g fo wa d.
Adjusted g oss ma gi was $4.1M (CAD $5.8M) fo Q2 2026, compa ed to $4.0M (CAD $5.7M) fo Q2 2025.
Adjusted g oss ma gi , as a pe ce tage, was 30% fo Q2 2026 vs. 36% fo Q2 2025, d ive by a combi atio of p oduct mix cha ges a d Boli gb ook amp-up costs.
Ope ati g p ofit o a dolla basis was $1.1M (CAD $1.6M) fo Q2 2026, compa ed to $1.8M (CAD $2.5M) fo Q2 2025.
Ope ati g p ofit, as a pe ce tage, was 8.4% i Q2 2026 vs. 15.9% i Q2 2025. The ma gi comp essio eflects i c eme tal facility a d utility costs associated with the amp-up of the ew Boli gb ook facility a d esidual dual-facility costs th ough Ap il 2026. With the Ca ol St eam facility ow fully exited, ma ageme t expects these dy amics to ecede p og essively th ough H2 2026 as p oductio co solidates a d efficie cies a e ealized.
The Compa y achieved EBITDA of $0.4M (CAD $0.6M) i Q2 2026.
Billed eve ue fo Q2 2026 was $13.6M (CAD $19.4M), compa ed to $11.0M (CAD $15.8M) i Q2 2025.
The Compa y’s Q2 2026 billed eve ue g ew 23% YoY, d ive by i c eased dema d f om existi g st ategic pa t e s ac oss a va iety of catego ies, as well as sales to ew accou ts.
The Compa y p oduced 14.6M packaged u its i Q2 2026, a 40.3% i c ease f om Q2 2025.
Du i g Q2 2026, the Compa y exited its legacy Ca ol St eam facility, effective Ap il 30, 2026, completi g its pla ed facility co solidatio . The Compa y ow ope ates f om two ma ufactu i g facilities i Boli gb ook a d Dow e s G ove, Illi ois, totali g app oximately 210,000 squa e feet, p ovidi g e ha ced scale a d flexibility to suppo t pa t e s as they g ow.
The Compa y eceived a US$765,000 capital g a t f om the Illi ois Depa tme t of Comme ce a d Eco omic Oppo tu ity (DCEO) u de the Busi ess Att actio P ime Sites p og am. The o -dilutive g a t suppo ts the Compa y’s o goi g expa sio of Illi ois ma ufactu i g ope atio s, i cludi g the elocatio of p oductio to Boli gb ook a d imp oveme ts to its Dow e s G ove facility, togethe with the associated capital i vestme t a d c eatio of ew jobs i the state.
The Compa y co ti ued to compost 100% of its food waste a d do ate 100% of its p oduce ext as.
As pa t of its ew facility buildout, the Compa y eplaced aged HVAC u its with high-efficie cy u its, educi g e e gy co sumptio a d suppo ti g its commitme t to lowe i g ope atio al emissio s.
Q2 2026 cove s the thi tee – a d twe ty-six week pe iods e di g July 4, 2026, compa ed to the th ee- a d six-mo th pe iods e di g Ju e 30, 2025, fo Q2 2025, followi g the Compa y’s adoptio of a 4-4-5 fiscal cale da i 2026 to bette alig i te al ma ageme t epo ti g a d ope atio s. As a esult, ce tai fi a cial esults fo i dividual epo ti g pe iods may ot be di ectly compa able to p io pe iods.
This ea i gs ews elease should be ead i co ju ctio with the Compa y’s i te im fi a cial stateme ts fo the thi tee a d twe ty-six weeks e di g July 4, 2026, (the “
Fo co ve sio pu poses, this elease used $0.70 as the co ve sio ate f om CAD to USD.
All figu es i this ews elease a e i US dolla s u less othe wise stated.
The F esh Facto y is a ve tically i teg ated compa y focused o accele ati g the g owth of the f esh, clea -label, a d bette -fo -you food a d beve age b a ds of tomo ow. The F esh Facto y ow s o pa t e s with eme gi g b a ds i the bette -fo -you space to develop, ma ufactu e, a d sell p oducts made f om f esh p oduce a d ecog izable i g edie ts. It ope ates f om two ma ufactu i g facilities ea Chicago, se vi g custome s ac oss the U ited States. As a public be efit co po atio , The F esh Facto y is ESG-focused, d ive to make a lighte , g ee e impact o the e vi o me t a d a st o ge , positive impact o local commu ities a d the food system as a whole. Lea mo e about The F esh Facto y at www.thef eshfacto y.co a d fi d The F esh Facto y o social media at I stag am, X, a d Li kedI .
Bill Bese hofe Chief Executive Office a d Co-Fou de 1-877-495-1638
Susa XuMedia a d I vesto Relatio s1-877-495-1638
The e a e measu es i cluded i this ews elease that do ot have a sta da dized mea i g u de i te atio al fi a cial epo ti g sta da ds (IFRS) a d the efo e, may ot be compa able to simila ly titled measu es a d met ics p ese ted by othe publicly t aded compa ies. The Compa y i cludes these measu es because it believes ce tai i vesto s use them as a mea s of assessi g fi a cial pe fo ma ce. Billed eve ue, adjusted g oss ma gi , ope ati g p ofit, EBITDA, a d adjusted EBITDA a e fi a cial measu es that do ot have a sta da dized mea i g u de IFRS. EBITDA is defi ed as ea i gs befo e i te est, taxes, dep eciatio , a d amo tizatio . Adjusted EBITDA efe s to ea i gs befo e i te est, taxes, dep eciatio , amo tizatio , costs of bei g public, sha e-based compe satio , a d o e-time t a sactio expe ses. Adjusted g oss ma gi is defi ed as billed eve ue mi us food, packagi g, a d labo (i.e., COGs). Ope ati g p ofit is adjusted g oss ma gi less utilities, facilities, a d mai te a ce costs. Billed eve ue is a fi a cial measu e defi ed as the eve ue billed to custome s as opposed to total eve ue, which ep ese ts billed eve ue less t ade a d va iable selli g a d a y p oductio c edits a d samples.
We p epa e a d elease qua te ly u audited a d a ual audited fi a cial stateme ts p epa ed i acco da ce with IFRS. We also disclose a d discuss ce tai o -GAAP (Ge e ally Accepted Accou ti g P i ciples) fi a cial i fo matio used to evaluate ou pe fo ma ce i this a d othe ea i gs eleases a d i vesto co fe e ce calls as a compleme t to esults p ovided i acco da ce with IFRS. We believe that cu e t sha eholde s a d pote tial i vesto s i the Compa y use o -GAAP fi a cial measu es, such as billed eve ue, adjusted g oss ma gi , ope ati g p ofit, EBITDA, a d adjusted EBITDA i maki g i vestme t decisio s about the Compa y a d measu i g its ope atio al esults.
Ma ageme t believes that i vesto s a d fi a cial a alysts measu e ou busi ess o the same basis, a d we a e p ovidi g the billed eve ue, adjusted g oss ma gi , ope ati g p ofit, EBITDA, a d adjusted EBITDA as fi a cial met ics to assist i this evaluatio a d to p ovide a highe level of t a spa e cy i to how we measu e ou ow busi ess.
This ews elease co tai s “fo wa d-looki g stateme ts” o “fo wa d-looki g i fo matio ” (collectively efe ed to he eafte as “fo wa d-looki g stateme ts”) withi the mea i g of applicable Ca adia secu ities legislatio . All stateme ts that add ess activities, eve ts, o developme ts that the Compa y expects o a ticipates will, o may, occu i the futu e, i cludi g stateme ts about the Compa y’s ew p oduct offe i gs, its ability to execute o its goals, ge e al mac o a d mic o eco omic impacts of i flatio o the busi ess a d ope atio of the Compa y, the timi g pe tai i g to these goals a d eceipt of applicable co se ts a d app ovals, a d Compa y’s busi ess p ospects, futu e t e ds, pla s, a d st ategies. I some cases, fo wa d-looki g stateme ts a e p eceded by, followed by, o i clude wo ds such as “may”, “will,” “would”, “could”, “should”, “believes”, “estimates”, “p ojects”, “pote tial”, “expects”, “pla s”, “i te ds”, “p oposes”, “a ticipates”, “ta geted”, “co ti ues”, “fo ecasts”, “desig ed”, “goal”, “a ticipate” o the egative of those wo ds o othe simila o compa able wo ds. Although the ma ageme t of the Compa y believes that the assumptio s made a d the expectatio s ep ese ted by such stateme ts a e easo able, the e ca be o assu a ce that a fo wa d-looki g stateme t he ei will p ove to be accu ate. Fo wa d-looki g stateme ts i volve k ow a d u k ow isks, u ce tai ties, a d othe facto s which may cause the actual esults, pe fo ma ce, o achieveme ts of the Compa y to be mate ially diffe e t f om a y futu e esults, pe fo ma ce, o achieveme ts exp essed o implied by such fo wa d-looki g stateme ts. Although ma ageme t of the Compa y has attempted to ide tify impo ta t facto s that could cause actual esults to diffe mate ially f om those co tai ed i fo wa d-looki g i fo matio , the e may be othe facto s that cause esults ot to be as a ticipated, estimated, o i te ded. Risks a d u ce tai ties applicable to the Compa y, as well as t e ds ide tified by the Compa y affecti g its i dust y, ca be fou d i the fi al lo g-fo m p ospectus of the Compa y dated Novembe 10, 2021, a d the Compa y’s co ti uous disclosu e eco d available o SEDAR+ at www.seda plus.ca. Such cautio a y stateme ts qualify all fo wa d-looki g stateme ts made i this ews elease. The Compa y u de takes o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by applicable law.
Neithe the TSXV o its Regulatio Se vices p ovide (as that te m is defi ed i the policies of the TSXV) accepts espo sibility fo the adequacy o accu acy of this elease.
