Innovative Food Holdings, Inc. Reports Financial Results for Third Quarter 2026
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Innovative Food Holdings (IVFH) reported third-quarter revenue of $12.0 million as sales declined across all three business channels. Revenue fell 23.8% year over year and 8.5% sequentially. The GAAP loss from continuing operations was $181 thousand, versus income of $651 thousand a year earlier; diluted EPS fell to $(0.003) from $0.012. Gross margin declined to 23.3% from 24.6%, while adjusted EBITDA was approximately $238 thousand versus $348 thousand.
Digital sales remained under pressure into the fourth quarter after a partner platform transition. National Distribution faced reduced airline-catering business, while Local Distribution’s decline moderated. Nine-month revenue fell 21.5% to $37.2 million, but operating cash flow turned positive at $361 thousand. Cash reached $1.7 million and current liabilities fell to $3.4 million; balance-sheet changes partly reflected a Pennsylvania facility sale and associated debt repayment.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointNine-month operating cash flow reached $361 thousand, versus $688 thousand used a year earlier.
- Moderate pointCash increased to $1.7 million at September 30, 2026, from $927 thousand at December 31, 2025.
- Moderate pointCurrent liabilities fell to $3.4 million from $12.4 million between December 2025 and September 2026.
- Moderate pointThird-quarter consolidated net loss narrowed to $175,301 from $1,719,196 year over year.
- Minor pointStockholders’ equity rose to $8.4 million from $6.2 million between December 2025 and September 2026.
11 minor points
- Minor pointPennsylvania facility sale and associated debt repayment partly drove balance-sheet changes.
- Minor pointThird-quarter selling, general and administrative expenses declined to $2,972,067 from $3,192,918 year over year.
- Minor pointNine-month selling, general and administrative expenses declined to $8,767,452 from $10,304,968 year over year.
- Minor pointNine-month consolidated results improved to $2,029,359 net income from a $2,091,122 loss year over year.
- Minor pointDiscontinued operations generated $1,501,177 nine-month income, versus a $3,821,096 loss; third-quarter income was $5,900 versus a $2,369,795 loss.
- Minor pointLocal Distribution’s decline moderated to 18.6%, versus approximately 31% in Q1 and 24% in Q2.
- Minor pointNational Distribution excluding the developing customer’s decline was roughly flat year over year; new business partially offset earlier program losses.
- Minor point. Forward-looking: it has not happened yet and may not happen.Digital recovery efforts include replacement products, new vendors and items following completion of the platform transition.
- Minor point. Forward-looking: it has not happened yet and may not happen.National Distribution is pursuing new airline and non-airline relationships to broaden its customer and program base.
- Minor point. Forward-looking: it has not happened yet and may not happen.Local Distribution is targeting customer retention and recurring sales from new relationships.
- Minor pointNetSuite agreement signed in October begins planning for modernization of the company’s business-management systems.
Negative
- Moderate pointThird-quarter revenue fell 23.8% year over year to $12.0 million, and 8.5% sequentially.
- Moderate pointThird-quarter gross margin fell to 23.3% from 24.6%; gross profit declined to $2,787,970 from $3,856,279.
- Moderate pointThird-quarter continuing operations swung to a $181 thousand loss; diluted EPS fell to $(0.003) from $0.012.
- Moderate pointNine-month continuing-operations income fell to $528 thousand from $1.7 million; diluted EPS declined to $0.010 from $0.032.
- Moderate pointNine-month debt-extinguishment loss totaled $608,539. 6.6% of market cap
13 minor points
- Minor pointDigital Channels revenue declined 23.5% to $6.4 million in the third quarter.
- Minor pointDigital platform transition left some vendor items unavailable; revenue pressure continued into the fourth quarter.
- Minor pointNational Distribution revenue fell 30.6% to $2.3 million amid reduced airline-catering business and prior program losses.
- Minor pointNine-month revenue declined 21.5% to $37.2 million from $47.3 million a year earlier.
- Minor pointNine-month Digital Channels revenue declined 18.3% year over year.
- Minor pointNine-month National Distribution revenue declined 25.1% year over year.
- Minor pointNine-month Local Distribution revenue declined 24.7% year over year.
- Minor pointNine-month gross margin declined to 25.1% from 25.5%; gross profit fell to $9,329,061 from $12,055,355.
- Minor pointThird-quarter operating results swung to a $184,097 loss from $663,361 income a year earlier.
- Minor pointThird-quarter adjusted EBITDA declined to approximately $238 thousand from $348 thousand year over year.
- Minor pointThird-quarter share-based compensation was an approximately $229 thousand expense, versus an approximately $691 thousand benefit.
- Minor pointNine-month operating income declined to $561,609 from $1,750,387 year over year.
- Minor point. Forward-looking: it has not happened yet and may not happen.Systems modernization scope and schedule remain unfinalized, with a planning objective of approximately 12 months.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Key third-quarter results:
- Revenue of
$12.0 million , down23.8% from Q3 2025 - GAAP net loss from continuing operations of
$181 thousand , compared with net income of$651 thousand in Q3 2025 - GAAP diluted EPS from continuing operations of
$(0.003) , compared with$0.012 in Q3 2025 - Gross margin of
23.3% , compared with24.6% in Q3 2025 - Operating loss of
$184 thousand , compared with operating income of$663 thousand in Q3 2025 - Adjusted EBITDA (Non-GAAP) of approximately
$238 thousand , compared with$348 thousand in Q3 2025
Key year-to-date results:
- Revenue of
$37.2 million , down21.5% from the first nine months of 2025 - GAAP net income from continuing operations of
$528 thousand , compared with$1.7 million in the first nine months of 2025 - GAAP diluted EPS from continuing operations of
$0.010 , compared with$0.032 in the first nine months of 2025 - Gross margin of
25.1% for the nine months ended September 30, 2026, compared with25.5% for the nine months ended September 30, 2025 - Net cash provided by operating activities of
$361 thousand , compared with$688 thousand used in the first nine months of 2025 - Cash and cash equivalents of
$1.7 million at September 30, 2026, compared with$927 thousand at December 31, 2025 - Current liabilities of approximately
$3.4 million and stockholders’ equity of approximately$8.4 million at September 30, 2026, compared with$12.4 million and$6.2 million , respectively, at December 31, 2025
BROADVIEW, Ill., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, today reported financial results for the quarter ended September 30, 2026.
Third-quarter revenue decreased
Digital Channels: Revenue decreased
National Distribution: Revenue decreased
Local Distribution: Revenue decreased
For the first nine months of 2026, revenue decreased
Third-quarter gross margin was
The Company reported a third-quarter operating loss of
For the first nine months of 2026, the Company reported net income from continuing operations of
Gary Schubert, Chief Executive Officer of IVFH, stated, “Our third-quarter results were below our expectations and reflect the work still ahead as we evaluate the factors affecting revenue and work to replace lost business and return to growth. Our priorities are clear: restore Digital sales following the platform transition, broaden the National Distribution customer and program base, and continue improving Local Distribution’s trajectory while maintaining expense and cash-flow discipline.
“At our largest Digital partner, the transition off the retiring legacy platform is complete. We are rebuilding the affected assortment with comparable products, new vendors, and new items, and working to convert that assortment into recurring sales while continuing to evaluate the pressure on Digital revenue. In National Distribution, our new Director of National Accounts is charged with expanding the pipeline beyond the programs and customers that drove the recent decline. In Local Distribution, the rate of decline has moderated for two consecutive quarters, and our teams remain focused on retention, new relationships, and repeat business.
“We are also strengthening the operating foundation needed to support growth. These efforts continue the work we outlined in the third quarter of 2025. Erik Saterbo’s employment agreement as Chief Financial Officer became effective in September. Our objectives are to strengthen finance and accounting, improve internal controls and cash management, and make transactions more efficient and easier to trace. In October, we entered into an agreement with NetSuite and began planning a broader modernization of our ERP and related architecture. The implementation scope and schedule remain to be finalized, with a planning objective of approximately 12 months.
“We reduced operating expenses, generated positive adjusted EBITDA in the third quarter, and produced positive operating cash flow through the first nine months, although we reported a net loss from continuing operations in the third quarter. We will maintain that discipline and manage working capital carefully while directing resources toward the customers, vendors, products, and capabilities that can restore revenue and build a more effective platform for sustainable growth.”
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are at the forefront of food trends. Our gourmet foods marketplace connects artisan food makers with professional chefs nationwide. We curate the assortment and provide the experience and tech-enabled tools that help professional chefs create unforgettable experiences for their guests. Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to the Company that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements, including those related to the Company’s growth plans, reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. If one or more of these underlying assumptions prove incorrect, actual results may differ materially from those described herein. Forward-looking statements may be identified by words such as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially,” “targeting,” or “expect,” or similar expressions. Additional factors that could cause actual results to differ materially relate to current conditions and expected future developments, international crises, environmental and economic issues and other risk factors described in the Company’s public filings. As a result, readers are cautioned not to place undue reliance on these forward-looking statements and should understand that these statements are not guarantees of performance or results and that there are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those expressed in these statements, including, among others: economic factors affecting consumer confidence and discretionary spending; cost inflation/deflation and commodity volatility; competition; reliance on third-party suppliers and interruption of product supply or increases in product costs; and changes in the Company’s relationships with vendors and customers. The Company does not intend to update these forward-looking statements.
For a detailed discussion of these risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Company with the SEC, which are available on the SEC’s website at https://www.sec.gov/.
Investor and Media contact:
Gary Schubert
Chief Executive Officer
Innovative Food Holdings, Inc.
investorrelations@ivfh.com
(As Reported)
Innovative Food Holdings, Inc.
Consolidated Balance Sheets
(unaudited)
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,663,381 | $ | 927,468 | ||||
| Cash, restricted | - | 507,517 | ||||||
| Accounts receivable, net of allowance for credit losses of | 4,981,264 | 5,300,190 | ||||||
| Inventory, net | 2,654,584 | 3,473,604 | ||||||
| Other current assets | 680,478 | 144,143 | ||||||
| Asset held for sale - discontinued operations | - | 6,144,793 | ||||||
| Current assets - discontinued operations | 18,512 | 281,699 | ||||||
| Total current assets | 9,998,219 | 16,779,414 | ||||||
| Property and equipment, net | 1,165,665 | 1,273,310 | ||||||
| Right of use assets - operating leases, net | 302,088 | 512,389 | ||||||
| Right of use assets - finance leases, net | 14,638 | 205,340 | ||||||
| Amortizable intangible assets, net | 273,324 | 338,059 | ||||||
| Indefinite-lived intangible assets | 217,000 | 217,000 | ||||||
| Other noncurrent assets | 40,000 | 40,000 | ||||||
| Noncurrent assets - discontinued operations | - | 215,509 | ||||||
| Total assets | $ | 12,010,934 | $ | 19,581,021 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 1,701,601 | $ | 2,456,429 | ||||
| Accrued payroll | 335,717 | 79,559 | ||||||
| Accrued liabilities | 570,865 | 499,811 | ||||||
| Accrued separation costs - related parties, current portion | 425,376 | 109,236 | ||||||
| Stock appreciation rights liability | - | 16,143 | ||||||
| Notes payable, current portion | 69,058 | 66,026 | ||||||
| Lease liability - operating leases, current | 260,318 | 285,534 | ||||||
| Lease liability - finance leases, current | - | 48,866 | ||||||
| Current liabilities - discontinued operations | 19,288 | 8,877,624 | ||||||
| Total current liabilities | 3,382,223 | 12,439,228 | ||||||
| Note payable non-current | 164,532 | 216,947 | ||||||
| Accrued separation costs - related parties, non-current | - | 400,000 | ||||||
| Lease liability - operating leases, non-current | 49,629 | 234,963 | ||||||
| Lease liability - finance leases, non-current | - | 52,683 | ||||||
| Total liabilities | 3,596,384 | 13,343,821 | ||||||
| Commitments & contingencies (see note 18) | - | |||||||
| Stockholders’ equity | ||||||||
| Common stock: | 5,853 | 5,746 | ||||||
| Additional paid-in capital | 45,795,786 | 45,647,902 | ||||||
| Treasury stock: 2,644,297 shares outstanding at September 30, 2026 and December 31, 2025 | (1,141,372 | ) | (1,141,372 | ) | ||||
| Accumulated deficit | (36,245,717 | ) | (38,275,076 | ) | ||||
| Total stockholders’ equity | 8,414,550 | 6,237,200 | ||||||
| Total liabilities and stockholders’ equity | $ | 12,010,934 | $ | 19,581,021 | ||||
(As Reported)
Innovative Food Holdings, Inc.
Consolidated Statements of Operations
(unaudited)
| For the | For the | For the | For the | |||||||||||||
| Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||||||||||
| September 30, | September 30, | September 30, | September 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | $ | 11,951,720 | $ | 15,676,898 | $ | 37,185,415 | $ | 47,340,603 | ||||||||
| Cost of goods sold | 9,163,750 | 11,820,619 | 27,856,354 | 35,285,248 | ||||||||||||
| Gross margin | 2,787,970 | 3,856,279 | 9,329,061 | 12,055,355 | ||||||||||||
| Selling, general and administrative expenses | 2,972,067 | 3,192,918 | 8,767,452 | 10,304,968 | ||||||||||||
| Total operating expenses | 2,972,067 | 3,192,918 | 8,767,452 | 10,304,968 | ||||||||||||
| Operating income (loss) | (184,097 | ) | 663,361 | 561,609 | 1,750,387 | |||||||||||
| Other income (expense): | ||||||||||||||||
| Interest income (expense), net | 2,896 | (15,274 | ) | (5,036 | ) | (22,925 | ) | |||||||||
| Other leasing income | - | 2,512 | - | 2,512 | ||||||||||||
| Total other income (expense) | 2,896 | (12,762 | ) | (5,036 | ) | (20,413 | ) | |||||||||
| Net income (loss) before taxes | (181,201 | ) | 650,599 | 556,573 | 1,729,974 | |||||||||||
| Income tax expense | - | - | 28,391 | - | ||||||||||||
| Net income (loss) from continuing operations | $ | (181,201 | ) | $ | 650,599 | $ | 528,182 | $ | 1,729,974 | |||||||
| Net income (loss) from discontinued operations | $ | 5,900 | $ | (2,369,795 | ) | $ | 1,501,177 | $ | (3,821,096 | ) | ||||||
| Consolidated net income (loss) | $ | (175,301 | ) | $ | (1,719,196 | ) | $ | 2,029,359 | $ | (2,091,122 | ) | |||||
| Net income (loss) per share from continuing operations - basic | $ | (0.003 | ) | $ | 0.012 | $ | 0.010 | $ | 0.032 | |||||||
| Net income (loss) per share from continuing operations - diluted | $ | (0.003 | ) | $ | 0.012 | $ | 0.010 | $ | 0.032 | |||||||
| Net income (loss) per share from discontinued operations - basic | $ | 0.000 | $ | (0.043 | ) | $ | 0.027 | $ | (0.070 | ) | ||||||
| Net income (loss) per share from discontinued operations - diluted | $ | 0.000 | $ | (0.043 | ) | $ | 0.027 | $ | (0.070 | ) | ||||||
| Weighted average shares outstanding - basic | 54,726,344 | 54,785,684 | 54,675,382 | 54,514,230 | ||||||||||||
| Weighted average shares outstanding - diluted | 54,726,344 | 54,785,684 | 54,675,384 | 54,514,230 | ||||||||||||
(As Reported)
Innovative Food Holdings, Inc.
Consolidated Statements of Cash Flows
(unaudited)
| For the | For the | |||||||
| Nine Months Ended | Nine Months Ended | |||||||
| September 30, | September 30, | |||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income (loss) | $ | 2,029,359 | $ | (2,091,122 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||
| Gain on disposition of assets | (2,685,277 | ) | - | |||||
| Loss on sale of fixed assets | - | 106,591 | ||||||
| Loss on extinguishment of debt | 608,539 | - | ||||||
| Depreciation and amortization | 213,564 | 321,402 | ||||||
| Amortization of right of use asset | 210,302 | 184,426 | ||||||
| Amortization of discount on notes payable | - | 3,852 | ||||||
| Stock based compensation | 276,502 | 361,115 | ||||||
| Gain on derecognition of note payable and accrued interest | - | (39,154 | ) | |||||
| Change in value of stock appreciation rights | (16,143 | ) | (1,077,098 | ) | ||||
| Inventory valuation adjustment associated with facility closure | 1,376,699 | |||||||
| Provision for (reversal of) credit losses | (54,033 | ) | 61,831 | |||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable, net | 569,142 | 2,837,800 | ||||||
| Inventory, net | 819,020 | 367,600 | ||||||
| Other current assets | (536,334 | ) | (114,539 | ) | ||||
| Accounts payable and accrued liabilities | (778,965 | ) | (2,753,747 | ) | ||||
| Accrued separation costs - related parties | (83,860 | ) | (48,221 | ) | ||||
| Deferred revenue | - | (5,700 | ) | |||||
| Operating lease liability | (210,551 | ) | (179,329 | ) | ||||
| Net cash provided by (used in) operating activities | 361,265 | (687,594 | ) | |||||
| Cash flows from investing activities: | ||||||||
| Cash received from sale of land and building, net of costs | 8,782,365 | - | ||||||
| Cash paid for purchase of property and equipment | (31,183 | ) | (229,278 | ) | ||||
| Cash received from disposition of asset | 10,000 | 54,500 | ||||||
| Net cash provided by (used in) investing activities | 8,761,182 | (174,778 | ) | |||||
| Cash flows from financing activities: | ||||||||
| Payment for taxes related to shares issued for equity awards | (128,511 | ) | - | |||||
| Principal payments on debt | (8,826,354 | ) | (132,478 | ) | ||||
| Principal payments on financing leases | (6,189 | ) | (179,260 | ) | ||||
| Cash received from line of credit | - | 500,000 | ||||||
| Principal payments on line of credit | - | (500,000 | ) | |||||
| Net cash used in financing activities | (8,961,054 | ) | (311,738 | ) | ||||
| Increase (decrease) in cash and cash equivalents, and restricted cash | 161,393 | (1,174,110 | ) | |||||
| Cash and cash equivalents, and restricted cash at beginning of period | 1,520,012 | 2,380,195 | ||||||
| Cash and cash equivalents, and restricted cash at end of period - continuing operations | $ | 1,663,381 | $ | 1,191,839 | ||||
| Cash and cash equivalents, and restricted cash at end of period - discontinued operations | $ | 18,024 | $ | 14,246 | ||||
| Cash and cash equivalents, and restricted cash at end of period | $ | 1,681,405 | $ | 1,206,085 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid during the period for: | ||||||||
| Interest | $ | 197,138 | $ | 612,293 | ||||
| Taxes | $ | 28,391 | $ | - | ||||
| Non-cash investing and financing activities: | ||||||||
| Issuance of common stock under compensation plans | $ | 107 | $ | 82 | ||||
| Issuance of common stock from common stock to be issued | - | $ | 37 | |||||
| Issuance of stock for cashless exercise of options | - | $ | 8 | |||||
| Capitalized interest on financing lease | - | $ | 1,892 | |||||
Innovative Food Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Measures Adjusted EBITDA Calculations
(unaudited)
| Q3 2026 | Q3 2025 | 2026 YTD | 2025 YTD | |||||||||
| Net Income (Loss) From Continuing Operations (GAAP) | $ | (181,201 | ) | $ | 650,599 | $ | 528,182 | $ | 1,729,974 | |||
| Depreciation & Amortization (1) | $ | 71,662 | $ | 72,555 | $ | 213,564 | $ | 212,215 | ||||
| Interest expense (income), net | $ | (2,896 | ) | $ | 15,274 | $ | 5,036 | $ | 22,925 | |||
| Income tax provision | $ | - | $ | - | $ | 28,391 | $ | - | ||||
| EBITDA (Non-GAAP) (2) | $ | (112,435 | ) | $ | 738,428 | $ | 775,173 | $ | 1,965,114 | |||
| Adjustments: | ||||||||||||
| Separation Costs | $ | - | $ | 174,000 | $ | - | $ | 178,231 | ||||
| Other Restructuring Costs | $ | 119,111 | $ | 1,148 | $ | 124,895 | $ | 15,234 | ||||
| Stock Compensation Expense (3) | $ | 228,754 | $ | (691,122 | ) | $ | 260,359 | $ | (715,983 | ) | ||
| Other Legal & Transactional | $ | 3,060 | $ | 125,000 | $ | 97,923 | $ | 222,560 | ||||
| Adjusted EBITDA (Non-GAAP) (4) | $ | 238,490 | $ | 347,454 | $ | 1,258,350 | $ | 1,665,156 | ||||
| Adjustments: | ||||||||||||
| Depreciation | $ | (50,084 | ) | $ | (50,977 | ) | $ | (148,829 | ) | $ | (147,480 | ) |
| Interest expense (income), net | $ | 2,896 | $ | (15,274 | ) | $ | (5,036 | ) | $ | (22,925 | ) | |
| Income tax provision | $ | - | $ | - | $ | (28,391 | ) | $ | - | |||
| Adjusted Net Income (Non-GAAP) (5) | $ | 191,302 | $ | 281,204 | $ | 1,076,094 | $ | 1,494,751 | ||||
| Adjusted Diluted EPS (Non-GAAP) | $ | 0.003 | $ | 0.005 | $ | 0.020 | $ | 0.027 | ||||
| Weighted-average diluted shares outstanding (Non-GAAP) (6) | 54,726,344 | 54,785,684 | 54,675,384 | 54,514,230 | ||||||||
| Q3 2026 | Q3 2025 | 2026 YTD | 2025 YTD | |||||||||
| Revenue (GAAP) | $ | 11,951,720 | $ | 15,676,898 | $ | 37,185,415 | $ | 47,340,603 | ||||
| Gross profit (GAAP) | $ | 2,787,970 | $ | 3,856,279 | $ | 9,329,061 | $ | 12,055,355 | ||||
| Inventory Reserve | $ | - | $ | - | $ | - | $ | - | ||||
| Adjusted Gross Profit (Non-GAAP) (7) | $ | 2,787,970 | $ | 3,856,279 | $ | 9,329,061 | $ | 12,055,355 | ||||
| Adjusted Gross Profit Margin (Non-GAAP) | 23.3 | % | 24.6 | % | 25.1 | % | 25.5 | % | ||||
| Q3 2026 | Q3 2025 | 2026 YTD | 2025 YTD | |||||||||
| Adjusted EBITDA (Non-GAAP) (4) | $ | 238,490 | $ | 347,454 | $ | 1,258,350 | $ | 1,665,156 | ||||
| Interest expense (income), net | $ | 2,896 | $ | (15,274 | ) | $ | (5,036 | ) | $ | (22,925 | ) | |
| Income Tax Expense – net | $ | - | $ | - | $ | (28,391 | ) | $ | - | |||
| Maintenance Capital Expenditures (8) | $ | - | $ | (1,236 | ) | $ | (27,339 | ) | $ | (29,317 | ) | |
| Adjusted Free Cash Flow (Non-GAAP) (9) | $ | 241,386 | $ | 330,944 | $ | 1,197,584 | $ | 1,612,914 | ||||
| (1) | Includes non-cash depreciation and amortization charges. | |
| (2) | Earnings before interest, taxes, depreciation, and amortization. | |
| (3) | Includes stock and options based compensation expense. | |
| (4) | Adjusted EBITDA is a non-GAAP metric. Management believes that the presentation of Adjusted EBITDA and other non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company’s results. In addition, the Company believes that the presentation of these financial measures enhances an investor’s ability to make period-to-period comparisons of the Company’s operating results. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results. | |
| (5) | Adjusted Net Income adjustments for non-core items, including one-time organizational restructuring costs, gains or losses on sales of assets or subsidiaries, trade name impairments, amortization, losses on debt extinguishment, and stock-related expenses in 2026 and 2025. | |
| (6) | GAAP weighted average diluted shares outstanding. | |
| (7) | Adjusted Gross Profit is gross profit adjusted to remove the impact of inventory reserve adjustments or non-recurring inventory related gains or losses. | |
| (8) | Maintenance Capital Expenditures are included in “Acquisition of property and equipment (GAAP)” on the consolidated statement of cash flows. They represent management’s estimate of the capital spending needed to maintain the Company’s current operations and exclude acquisitions (net of cash acquired) and capital expenditures intended to fund growth. | |
| (9) | Adjusted Free Cash Flow is defined as Adjusted EBITDA less interest expense, income tax expense, and maintenance capital expenditures. The Company believes Adjusted Free Cash Flow helps investors understand the cash generated by ongoing operations, before working capital changes and non-recurring items, after maintenance capital expenditures. Adjusted Free Cash Flow is not a measure of cash available for discretionary spending because it does not deduct certain nondiscretionary obligations | |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Innovative Food Holdings’ third-quarter 2026 revenue and earnings?
Innovative Food Holdings reported $12.0 million revenue, down 23.8% year over year, and a GAAP loss from continuing operations of $181 thousand. Diluted EPS from continuing operations was $(0.003), compared with $0.012 a year earlier. Adjusted EBITDA, a non-GAAP measure, was approximately $238 thousand versus $348 thousand.
Why did IVFH Digital Channels revenue decline in the third quarter of 2026?
The Digital Channels decline was concentrated at IVFH’s largest Digital partner, where some vendor items did not transfer to its marketplace. The transition off the retiring legacy platform finished in mid-August. The volume of items needing replacement and the timing of identifying those limitations contributed to the decline.
What is Innovative Food Holdings planning with NetSuite?
Innovative Food Holdings entered into a NetSuite agreement in October and began planning modernization of its business-management systems and related architecture. The implementation scope and schedule remain to be finalized, with a planning objective of approximately 12 months.