Pudo loses $76,810 in Q2

Executive Summary

• Pudo Inc. reported a 63% year‑to‑date revenue increase and a 79% rise in gross profit for Q2 FY 2026 versus the prior year.
• Returns now represent 67.4% of total revenue (up from 53.1% YoY), reflecting rapid expansion of the Pudo label return service network.
• The company added Annex Brands and GoLocker partnerships, expanding its U.S. footprint and positioning for continued top‑line growth.

Key Details

• Revenue Growth: Up ~63% in the first six months of FY 2026 versus the same period last year.
• Gross Profit Increase: Gross profit up >79% YoY, driven by higher gross margins alongside revenue expansion.
• Business Mix Shift: Returns accounted for 67.4% of total revenue in Q2 FY 2026, compared with 53.1% in Q2 FY 2025.
• Network Expansion: Added Annex Brands and GoLocker partnerships; continued development of U.S. network with additional SaaS and third‑party logistics (3PL) partners.
• Retailer Participation: Network now includes >1,700 storefront partners (Pudopoint Counters).
• Operational Highlights: Ongoing work to expand U.S. network for both return services and other offerings such as direct‑to‑PUDO and shopper‑initiated pickups.
• Financial Statements Availability: Full interim consolidated financial statements and MD&A for the three‑ and six‑month periods ended Aug 31, 2025 are posted on the Canadian Securities Exchange website and SEDAR+.

Notable Quotes

“We continue to see strong growth in the business, with revenue increasing almost 63 per cent in the first six months of this year. We have been able to grow revenue while increasing our gross margins, resulting in a gross profit increase of more than 79 per cent,” – Elliott Etheredge, Chief Executive Officer.

“The addition of the Annex Brands and GoLocker partnerships position us well to continue growing revenue by expanding our geographic footprint.” – Elliott Etheredge, CEO.