Northwire Canada EditionTuesday, July 14, 2026
Sign inSubscribe
Northwire
⌕
WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8% WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8%
Earnings

Purebread Brands Inc. Reports Q2 2026 Results

By The Northwire Desk — AI Analysis Dec 01, 2025 · 16:48 BRED · 0.12 Purebread Brands Inc.
BRED · Price

Executive Summary

  • Adjusted EBITDA for the six months ended September 30, 2025 rose to $1.5 million – a 1,700% YoY improvement from a $(0.1) million loss in the prior year period.
  • Gross margin increased to 64% (up from 62%) and operating expenses fell 32% YoY, reflecting cost‑reduction initiatives and a strategic focus on core bakery operations.
  • Revenue declined 11% YoY to $7.8 million due to the discontinuation of certain Coho Kitchen locations, but net income turned positive at $3.08 million for the six‑month period.

Key Details

  • Adjusted EBITDA: $1,471,839 for six months ended Sep 30 2025 vs. $(87,453) in the same period 2024 (1700% improvement).
  • Gross Margin: 64% YoY up from 62%; driven by rationalization of operations and reduced emphasis on Coho Kitchens.
  • Operating Expenses: Decreased 32% YoY as part of ongoing cost‑reduction program.
  • Revenue: $7.8 million for six months ended Sep 30 2025, down 11% from $8.7 million in the prior year period.
  • Net Income (Six Months): $3,077,138 vs. $(2,972,706) in 2024.
  • Amortization: $518,606 (2025) vs. $1,117,573 (2024).
  • Accretion: $215,341 (2025) vs. $203,381 (2024).
  • Gain on Debt‑to‑Equity Settlement: $(3,770,692) recorded in 2025; none in 2024.
  • Interest Expense: $1,441,555 for six months 2025 vs. $1,434,990 in 2024.
  • Share‑Based Compensation: $16,893 (2025) vs. $129,309 (2024).

Corporate Actions * Completed a debt‑to‑equity conversion issuing 3,739,162 common shares and 1,869,581 warrants at $1.25 per unit to settle $3,938,954 of outstanding debt.
* Implemented a 5‑for‑1 common share consolidation to optimize capital structure.

Operational Highlights * Closed two Coho Commissary locations (Pandora Street and Gibsons) on Sep 5 2025 and shut the East Hastings and Victoria Public Market sites to streamline shared‑kitchen operations.

Notable Quotes

“We've made significant progress by concentrating on our core bakery activities, and we are continuing to benefit from our cost‑reduction initiatives. Together, these efforts have driven a substantial improvement in year‑to‑date adjusted EBITDA performance and position us well for sustainable growth and long‑term profitability.” – Amrit Maharaj, Interim CEO

Materiality Assessment: Material – Positive (substantial turnaround in profitability and balance‑sheet strengthening).

Read the original news release →

More from Purebread Brands Inc.

Apr 30, 2026 · 08:31

Purebread Brands Closes Debt Settlement Amid Turnaround, But Valuation Disparity Raises Dilution Concerns

Financings Apr 13, 2026 · 16:44

Purebread Brands Inc. Announces Closing of Non-Brokered Private Placement

Financings Apr 08, 2026 · 14:56

Upsized private placement signals investor confidence but modest capital raise

Financings Mar 31, 2026 · 20:20

Purebread Brands arranges $1.5-million financing

Financings Mar 31, 2026 · 14:23

Purebread Secures Lifeline Capital Amid Deep Deficit and Heavy Lease Liabilities

Financings Mar 05, 2026 · 20:43

Purebread Brands restructures debt, appoints directors

Other