TRUBAR ANNOUNCES THIRD QUARTER 2025 RESULTS HIGHLIGHTED BY AN 88% INCREASE IN NET REVENUE
Executive Summary
- TRUBAR Inc. reported record Q3 2025 net revenue of $21.6 M, an 88% YoY increase and reaffirmed full‑year 2025 net‑revenue guidance of $65–$70 M.
- Adjusted EBITDA reached $1.4 M (up 39% YoY) with a modest net gain of $192 K, while cash on hand fell to $3.7 M.
- Significant operational milestones: addition of 500+ U.S. grocery stores, launch of the TRUBAR™ Kids line at Sprouts, and expanded Canadian retail presence (Costco, Pattison, Healthy Planet).
Key Details
- Financial Highlights (Q3‑2025 vs Q3‑2024)
- Net Revenue: $21.6 M ↑ 88% (vs $11.5 M)
- Gross Revenue: $29.9 M ↑ 161% (vs $11.4 M)
- Gross Profit: $8.9 M ↑ 76% (vs $5.1 M) – Gross margin 41% (down from 44%) due to promotional spend.
- Operating Costs: $7.9 M ↑ 65% (vs $4.8 M).
- Adjusted EBITDA: $1.4 M ↑ 39% (vs $1.0 M).
- Net gain from continuing operations: $192 K vs net gain of $4.1 M in Q3‑2024 (decline driven by higher costs).
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Cash balance as of Sep 30 2025: $3.7 M (down from $7.1 M at Dec 31 2024).
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Segment Revenue (Q3‑2025)
- Wholesale club: $12.5 M ↑ 50% YoY.
- Retail: $4.8 M ↑ 206% YoY.
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Direct‑to‑Consumer (e‑commerce): $4.3 M ↑ 170% YoY (includes Amazon & Shopify).
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Operational Milestones
- Sale of No B.S. Brand – completed July 2 2025, exiting personal‑care line to focus on core snack business.
- U.S. Grocery Expansion – >500 additional stores added July 8 2025 (Meijer, Fred Meyer, King Soopers, Fresh Thyme, etc.).
- TRUBAR™ Kids Launch – August 5 2025; now in 400 Sprouts locations across 24 states with three flavors.
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Canadian Retail Expansion – September 8 2025; added Costco (71 stores), Pattison Food Group (242 stores) and Healthy Planet (37 stores), totaling >3,750 Canadian doors.
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Post‑Quarter Developments (Oct 10 2025)
- Announced co‑branded “Wicked” snack partnership with Universal.
- Planned national launch of TRUBAR™ Kids in 2026 and expansion into 1,600 Target locations.
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disclosed a $3.15 M settlement related to the PureKana bankruptcy estate.
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Guidance – Full‑year 2025 net revenue reaffirmed at $65–$70 M.
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Management Commentary
- CEO Erica Groussman highlighted 88% YoY revenue growth, 206% retail sales increase, and 170% DTC sales surge.
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Executive Chairman Kingsley Ward emphasized expanded retail footprint, stronger cash position (relative to operating needs), and confidence in pipeline of innovations.
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Conference Call – Investor webcast scheduled for Nov 24 2025, 9:00 am ET; hosted by CEO Erica Groussman & Exec. Chair Kingsley Ward.
Notable Quotes
“I am very pleased with our performance in the third quarter and for the records we achieved in both Net Revenue and Adjusted EBITDA.” – Erica Groussman, CEO
“Our expanding retail footprint… is creating a powerful foundation for long‑term growth.” – Kingsley Ward, Executive Chairman