EMERGE Provides Corporate Update on truLOCAL, as the Brand Celebrates its 10th Anniversary

Executive Summary

• EMERGE Commerce Ltd. reports that its flagship brand truLOCAL contributed >50% of total company revenue in FY 2025 YTD and is on track to double adjusted EBITDA year‑over‑year.
• The brand celebrates its 10th anniversary, highlighting over 70,100 Canadian customers, 511,000+ boxes delivered, and partnerships with 100+ local producers.
• EMERGE signals a strategic focus on cash‑flow‑positive acquisition targets in the D2C food‑tech space to expand truLOCAL’s B2B presence.

Key Details

• Revenue Contribution: truLOCAL generated more than half of EMERGE’s total revenue for 2025 YTD.
• Organic Growth: Two consecutive years of organic revenue growth, driven by “Support Local” consumer sentiment.
• Profitability: Adjusted EBITDA expected to roughly double YoY in 2025; margin expansion attributed to pricing power and efficient advertising spend.
• Gross Margin Opportunity: Strong pricing power offsets rising meat costs; gross‑margin expansion identified as a key focus for 2026.
• Unit Economics: Customer Lifetime Value (CLTV) ≈ $2,000 vs. CAC of $100–$175 (seasonally variable).
• Average Order Value (AOV): ~$240 in 2025 YTD, up from ~$228 in 2024, supported by expanded SKU assortment and website enhancements.
• Customer Base: >70,100 Canadian subscribers served to date.
• Supply Chain Partnerships: Over 100 Canadian farmers and small producers partnered with truLOCAL.
• Delivery Volume: More than 511,000 meat and seafood boxes delivered nationwide since inception.
• Acquisition Strategy: EMERGE remains exclusively focused on cash‑flow‑positive acquisition targets in grocery/food‑tech, including D2C competitors, adjacent healthy/local brands, and corporate gifting businesses to grow B2B channels.
• 10th Anniversary Promotion: Launch of a contest offering one year of free meat (12 customizable starter boxes) to drive new member referrals and customer acquisition.

Notable Quotes

• “truLOCAL continues to demonstrate excellent operating momentum and execution… we remain exclusively focused on cash‑flow positive acquisition targets.” – Ghassan Halazon, Director, President & CEO, EMERGE Commerce Ltd.