Goodfood Market (TSX:FOOD) held its second-quarter earnings conference call on Tuesday. Below is the complete transcript from the call.
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The full earnings call is available at https://www2.makegoodfood.ca/en/investisseurs/evenements
Summary
Goodfood Market reported a decline in net sales and active customers in Q2 2026, with net sales at $22.5 million and active customers at 59,000, primarily due to a temporary license disruption and reduced marketing efforts.
The company is focused on a strategic reset, emphasizing cost discipline, margin protection, and cash generation, while simplifying operations and improving product offerings to enhance customer retention and lifetime value.
Despite temporary cost pressures leading to a negative adjusted EBITDA of $1 million, management remains optimistic about future performance, highlighting actions taken to stabilize margins and improve cash flow through operational efficiencies and tighter cost controls.
Full Transcript
OPERATOR
Good morning ladies and gentlemen and welcome to The Good Food Q2 2026 earnings conference call and webcast. At this time, all participants are enlisted only. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for questions. Please note that questions will be taken from financial analysts only. If anyone has any difficulties hearing the conference, please press star followed by zero for operator assistance at any time. I would like to remind everyone that this conference call is being recorded today, April 21st at 8:00am Eastern Time. Furthermore, I would like to remind you that today’s presentation may contain forward looking statements, statements about good foods, current and future plans, expectations and intentions, results, level of activity, performance, goals or achievements, or other future events or developments. As such, please take a moment to read the disclaimer on forward looking statements on slide 2 of the presentation. I would like to turn the meeting over to your host for today’s call, Selim Basu, Good Food Chief Executive Officer. Mr. Basu, you may proceed.
Selim Basu (Chief Executive Officer)
Thank you. Bonjour tout le monde, Bienvenue conférence de marche Good Food for presente non resultier du de seintrimas de l’ exe sis DeMille Vincis Good morning everyone. Welcome to our Good Food earnings call in which we will present our results for the second quarter of fiscal 2026. You can find our press release and other filings on our website and SEDAR Plus and all figures on this call are in Canadian dollars unless otherwise noted. With me today are Najib Malouf, our newly appointed President and Chief Operating Officer Vanessa Harida, our Vice President of Finance and Ross Aomur, our outgoing Chief Financial Officer. Before we begin, I wanted to highlight two things. First, Najeeb and I joined goodfood with a clear stabilize the business, protect cash and rebuild discipline. That work is underway and albeit today’s result will show the impact of a license suspension, we have made significant strides in advancing our mandate. Also for fiscal 2026, both Najib and I have made the deliberate decision to forego our base salary. This is a voluntary choice. Our employment agreements remain unchanged, but we believe that in this phase of the company’s transformation, accountability needs to start at the top. This is not a signal that we expect others to do the same. Our priority is to build a stronger, more resilient company, one that creates long term opportunities for our teams, delivers for our customers and earns the trust of our …
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