Goodfood Reports First Quarter of 2026 Results with Net Sales of $28 million, Gross Profit of $12 million and Adjusted EBITDA¹ of $1 million

• Cash flows provided by operating activities of $1.4 million and adjusted free cash flow¹ was $1.2 million for the first quarter, with cash balance and marketable securities² at $15 million
• Net sales were $28 million in the first quarter, with gross profit of $12 million and gross margin³ reaching 42.3%, a 2.7 percentage point improvement over the Q1 last year
• Net loss of $3 million compared to $2 million in the same period last year, adjusted EBITDA margin¹ of 3.7% and adjusted EBITDA¹ of $1 million for the first quarter
• Heat & Eat meal solutions and Genuine Tea performances contributing to sequential stabilization of revenue and cash flows
• New leadership in place with focus on stabilizing core meal kit business and diversifying revenue and profitability

MONTREAL, Jan. 20, 2026 (GLOBE NEWSWIRE) — Goodfood Market Corp. (“Goodfood“, “the Company“, “us“, “we” or “our“) (TSX:FOOD), a leading Canadian online meal solutions company, today announced financial results for the 13 weeks ended December 6, 2025.

“The first quarter marks a clear step in stabilizing the business in a still-challenging operating environment, and despite these conditions, we delivered a 42.3% gross margin³, positive adjusted EBITDA¹ and $1.2 million of adjusted free cash flow¹. These results reflect tighter cost controls, improved execution and a deliberate focus on cash and margins,” said Selim Bassoul, Executive Chairman of Goodfood.

“We are managing the business with a clear-eyed view of the market. The meal solutions category, particularly meal kits, remains under pressure, and we are not assuming a near-term recovery. Our focus is building a simpler, more resilient operating model that performs consistently at current volumes,” added Selim Bassoul.

“Our operational review is nearing completion and is focused on sharpening execution, prioritizing profitable demand and deploying capital where returns are strongest. We are tightening decision-making and accountability across the organization and aligning the business around cash flow and margin performance.”

“With the leadership transition almost complete, our priorities are clear: protect margins, generate cash and allocate capital with discipline. Alongside organic improvements, we will remain highly selective on acquisitions that strengthen our platform, improve our cost and margin structure and align with our long-term strategy.” concluded Mr. Bassoul.

RESULTS OF OPERATIONS – FIRST QUARTER OF FISCAL 2026 AND 2025

The following table sets forth the components of the Company’s interim condensed consolidated statement of loss and comprehensive loss:

(In thousands of Canadian dollars, except per share and percentage information)