Edible Garden AG Incorporated

For the quarter ended June 30, 2026, revenue increased 12.8% to approximately $3.6 million from approximately $3.1 million a year ago. Gross profit was approximately $0.6 million, essentially flat year over year. SG&A declined approximately $0.9 million, or 21.5%, to $3.1 million from about $4.0 million, and net loss improved to approximately $3.3 million from approximately $4.0 million in Q2 2025. For the first half, operating cash flow was positive at approximately $0.9 million, versus cash used in operations of approximately $6.8 million in the prior-year period. On the balance sheet, debt increased by approximately $14.2 million, reflecting $13.5 million of new financing related to Prairie Hills; cash and restricted cash totaled approximately $10.7 million, with about $10 million restricted, leaving roughly $0.7 million available for operations. Management did not give formal next-quarter or full-year financial guidance, but said it expects continued top-line growth, more strategic investments in Iowa, and a path toward improved financial performance over time.

Jim Kras framed the quarter as steady progress in the core business and a meaningful step forward on the company’s Farm-to-Formula strategy. He stressed broader retail traction at names including Kroger, Target, Walmart, Wakefern, ShopRite and the Fresh Market, and pointed to the Target Midwest distribution win as proof of Edible Garden’s execution and supply reliability. His tone was upbeat and aspirational, especially around Prairie Hills, which he described as potentially transforming the scale and profile of the company.

Kostas Dafoulas focused on the improving expense structure and the funding of Prairie Hills. He cited revenue of about $3.6 million, gross profit of about $0.6 million, SG&A of $3.1 million, and a net loss of about $3.3 million, while noting that gross margin/profitability still needs improvement because COGS remains elevated. He also emphasized liquidity and capital allocation: $13.5 million of new financing tied to the Iowa facility, about $10.7 million of cash and restricted cash, and positive operating cash flow of about $0.9 million for the first six months.

Analysts focused on the new Target distribution, industry consolidation, and the Prairie Hills RTD buildout. Management said the Target win was significant because the retailer wanted a trusted supplier with strong fill rates and on-time performance, and that consolidation in controlled-environment agriculture is creating openings for Edible Garden. On Prairie Hills, Jim Kras said the company is still on track for the tail end of 2027 to see the first bottle come off the line, with prototype production completed at Tetra Pak and a co-manufacturer expected to help launch formulas at the end of Q4. He also said the facility already has presold commitments for 100% of capacity.