Star Metro - The Fresh Factory Reports Fiscal 2025 Results with Record Annual Billed Revenue of $45.1M, EBITDA increase of 225% YoY

CAROL STREAM, IL / ACCESS Newswire / April 28, 2026 / The Fresh Factory B.C. Ltd. (TSXV:FRSH)(FRA:Q4Z) ("The Fresh Factory" or the "Company"), a mission-driven company for fresh, clean-label, and better-for-you food and beverage brands, is pleased to announce financial results for the fourth quarter and fiscal year ending December 31, 2025 ("Q4 2025" and "Fiscal 2025," respectively).

"2025 was a strong year for us. We delivered record revenue, improved our margins, and generated positive EBITDA, driven by continued demand from both new and existing customers," said Bill Besenhofer, CEO and co-founder of The Fresh Factory. "It's clear we've built real momentum across the business. With the retrofit of our new facility now underway, we are entering 2026 with the infrastructure, customer relationships, and foundation to keep scaling the next phase of growth."

Financial and Operational Highlights: Fiscal 2025 vs. Fiscal 2024

• Record billed revenue of $45.1M ($64.4M CAD) for Fiscal 2025 vs. $32.9M ($47.0M CAD) for Fiscal 2024, an increase of 37%, which was mainly attributed to the addition of new customers and increased sales through existing customers.

• Adjusted EBITDA of $3.3M ($4.7M CAD) for Fiscal 2025 was favorable $0.7M ($1.1M CAD) vs. Fiscal 2024, an increase of 29%.

• Adjusted Gross Margins were $16.7M (CAD $23.9M) in Fiscal 2025, a 39% increase from $12.0M (CAD $17.1M) in Fiscal 2024.

• The Company reported a net loss of $0.04M (CAD $0.06M) for Fiscal 2025, compared to a net loss of $1.2M (CAD $1.7M) in Fiscal 2024.

• The Company produced 45.7M packaged units for Fiscal 2025 vs. 27.3M packaged units in Fiscal 2024, a 67% increase YoY.

Financial and Operational Highlights: Q4 2025 vs. Q4 2024

• Record billed revenue of $11.7M (CAD $16.7M) in Q4 2025 vs. $9.0M (CAD $12.8M) in Q4 2024, a 30% increase.

• Adjusted EBITDA of $0.7M (CAD $1.0M) in Q4 2025 vs. $1.1M (CAD $1.6M) in Q4 2024.

• The Company reported a net loss of $0.17M (CAD $0.24M) in Q4 2025 compared to a net loss of $1.1M (CAD $1.6M) in Q4 2024, a year-over-year improvement of approximately $0.9M (CAD $1.3M).

• Adjusted Gross Margins were $4.2M (CAD $6.0M) in Q4 2025, a 36% increase from $3.1M (CAD $4.4M) in Q4 2024.

Strategic Areas of Focus

The Fresh Factory is building a platform to serve emerging food and beverage brands in the fresh-food sector with an emphasis on better-for-you products. The Company has established the following three key areas of focus on which it will report on a quarterly basis moving forward.

Execution: Focus on safety, high-quality operations, and strong margins.

• Adjusted gross margin dollars increased to $4.2M (CAD $6.0M) for Q4 2025, compared to $3.1M (CAD $4.4M) for Q4 2024.

• Adjusted gross margins, as a percentage, were 36% for Q4 2025, vs. 34% for Q4 2024. This increase was driven by sales volume increases.

• Operating profit on a dollar basis increased by $597,975 (CAD $854,250) for Q4 2025 vs. Q4 2024.

• Operating profit on a percentage basis increased to 15% in Q4 2025, compared to 12% in Q4 2024.

• The Company achieved positive EBITDA of $0.5M (CAD $0.8M) in Q4 2025.

Growth: Invest in and grow with the right brands across diversified channels.

• Billed revenue for Q4 2025 was $11.7M (CAD $16.7M), compared to $9.0M (CAD $12.8M) in Q4 2024.

• The Company's Q4 2025 billed revenue grew 30% YoY, driven by increased demand from existing strategic partners across a variety of categories.

• The Company produced 11.2M packaged units in Q4 2025, a 62% increase from Q4 2024.

• During Q4 2025, the Company commenced the retrofit of its newly leased 154,000-square-foot manufacturing facility in the southwest suburbs of Chicago. This facility will support future scale, consolidate operations, and allow for significant production capacity across condiments and dips, beverages, and hot-fill categories.

• In Q4 2025, the Company increased its revolving asset-based lending facility from $4.0M (CAD $5.7M) to $5.0M (CAD $7.1M) and closed a $3.0M (CAD $4.3M) private placement in January 2026, subsequent to quarter-end.

Sustainability: Become a market leader in sustainability.

• The Fresh Factory completed the offset of its 2024 Scope 1 and Scope 2 greenhouse gas emissions through actions taken at year-end 2025. The Company purchased 991 metric tonnes of verified carbon offsets, certified under the Green-e® Climate program, supporting renewable energy projects that meet rigorous environmental and consumer-protection standards.

• In addition, The Fresh Factory procured 2,180 megawatt-hours (MWh) of Green-e® Energy certified Renewable Energy Certificates (RECs) to match its historical electricity consumption, supporting renewable electricity generation within the United States.

• Together, these actions reflect The Fresh Factory's commitment to responsibly managing its environmental footprint while continuing to build a scalable and sustainable food manufacturing platform.

On December 1, 2025, The Fresh Factory renewed its normal course issuer bid ("NCIB"), allowing the Company to repurchase up to 3,679,991 outstanding Subordinate Voting Shares over the 12-month period ending November 30, 2026. As of December 31, 2025, the Company has repurchased a cumulative total of 145,000 of the eligible 3,679,991 Subordinate Voting Shares at a cost of $91,568 (CAD $130,811), representing a weighted average price of $0.63 (CAD $0.90). No NCIB repurchases occurred in 2025.

This earnings news release should be read in conjunction with the Company's audited financial statements for the year ending December 31, 2025, (the "Audited Financial Statements") and the related Management's Discussion and Analysis (the "MD&A"); both documents are available to download on The Fresh Factory's profile on SEDAR+ at www.sedarplus.ca.

For conversion purposes, this release used $0.70 as the conversion rate from CAD to USD.

All figures in this news release are in US dollars unless otherwise stated.

About The Fresh Factory B.C. Ltd.

The Fresh Factory is a vertically integrated company focused on accelerating the growth of the fresh, clean-label, and better-for-you food and beverage brands of tomorrow. The Fresh Factory owns or partners with emerging brands in the better-for-you space to develop, manufacture, and sell products made from fresh produce and recognizable ingredients. It operates from two manufacturing facilities near Chicago, serving customers across the United States. As a public benefits corporation, The Fresh Factory is ESG-focused, driven to make a lighter, greener impact on the environment and a stronger, positive impact on local communities and the food system as a whole. Learn more about The Fresh Factory at www.thefreshfactory.co and find The Fresh Factory on social media at Instagram, Twitter, and LinkedIn.

Contacts

Bill Besenhofer
Chief Executive Officer and Co-Founder
1-877-495-1638
[email protected]

Susan Xu
Media and Investor Relations
1-877-495-1638
[email protected]

Non-IFRS Measures

There are measures included in this news release that do not have a standardized meaning under international financial reporting standards (IFRS) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use them as a means of assessing financial performance. Billed revenue, adjusted gross margin, operating profit, EBITDA, and adjusted EBITDA are financial measures that do not have a standardized meaning under IFRS. EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA refers to earnings before interest, taxes, depreciation, amortization, stock-based compensation, one-time transaction expenses, and change in fair value of derivative liabilities. Adjusted gross margin is defined as billed revenue minus food, packaging, and labor (i.e., COGs). Operating profit is adjusted gross margin less utilities, facilities, and maintenance costs. Billed revenue is a financial measure defined as the revenue billed to customers as opposed to total revenue, which represents billed revenue less trade and variable selling and any production credits and samples.

We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with IFRS. We also disclose and discuss certain non-GAAP (Generally Accepted Accounting Principles) financial information used to evaluate our performance in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-GAAP financial measures, such as billed revenue, adjusted gross margin, operating profit, EBITDA, and adjusted EBITDA in making investment decisions about the Company and measuring its operational results.

Management believes that investors and financial analysts measure our business on the same basis, and we are providing the billed revenue, adjusted gross margin, operating profit, EBITDA, and adjusted EBITDA as financial metrics to assist in this evaluation and to provide a higher level of transparency into how we measure our own business.

Forward-Looking Statements

This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including statements about the Company's new product offerings, its ability to execute on its goals, general macro and micro economic impacts of inflation on the business and operation of the Company, the timing pertaining to these goals and receipt of applicable consents and approvals, and Company's business prospects, future trends, plans, and strategies. In some cases, forward-looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "proposes", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", "anticipate" or the negative of those words or other similar or comparable words. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry, can be found in the final long-form prospectus of the Company dated November 10, 2021, and the Company's continuous disclosure record available on SEDAR+ atwww.sedarplus.ca. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Neither the TSXV nor its Regulation Services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: The Fresh Factory B.C. Ltd.

View the original press release on ACCESS Newswire

O.Martin--SMC