Buda Juice (NYSE: BUDA) grows Q1 sales but profits decline
Rhea-AI Filing Summary
Buda Juice reported strong revenue growth in its first full quarter as a public company but lower profits. For the quarter ended March 31, 2026, revenue rose 17.7% to $3.5 million from $3.0 million, while gross profit edged up to $1.4 million.
Higher selling, general and administrative expenses drove operating income down to $0.6 million from $0.8 million, and net income fell to $0.4 million from $0.8 million, or diluted EPS of $0.03. Non-GAAP net income was $0.6 million, with non-GAAP EPS of $0.05 and Adjusted EBITDA of $0.8 million.
Free cash flow reached $1.1 million, up 37% year over year. Cash on the balance sheet climbed to $19.8 million, largely reflecting $23.0 million of IPO proceeds, net of offering costs and a $3.75 million common stock redemption. The company also highlighted a post-quarter expansion of its Buda Fresh Cherry Limeade into 246 Walmart stores across nine states.
Positive
- Revenue and cash flow growth: Q1 2026 revenue rose 17.7% to $3.5 million, while free cash flow increased 37% to $1.1 million, indicating solid top-line momentum and stronger cash generation.
- Strengthened liquidity from IPO: Cash increased to $19.8 million as of March 31, 2026, primarily from $23.0 million of IPO proceeds, giving the company a significantly larger financial cushion to fund operations and growth.
- Early progress in national distribution: After quarter-end, Buda Fresh Cherry Limeade expanded into 246 Walmart stores across nine states, marking a notable step toward scaling the Ultra Fresh category beyond Texas.
Negative
- Profitability pressure despite growth: Operating income decreased to $0.6 million from $0.8 million, and net income declined to $0.4 million from $0.8 million, reflecting higher expenses and new income tax costs.
- Margin impact from input costs: Gross margin was negatively affected by a spike in lime costs tied to supply chain disruptions, highlighting sensitivity to commodity and supply factors even if management views the event as temporary.
Insights
Revenue and cash flow grew solidly, but margins and net income compressed as costs and taxes increased.
Buda Juice delivered Q1 2026 revenue of $3.5M, up 17.7% year over year, with gross profit up modestly to $1.4M. Management attributed gross margin pressure partly to a temporary spike in lime costs tied to supply disruptions in western Mexico.
Operating income declined to $0.6M from $0.8M as selling, general and administrative expenses increased. Net income fell to $0.4M from $0.8M, and income tax expense of $0.36M weighed on results compared with no tax expense a year earlier.
Free cash flow improved to $1.1M, up 37%, while cash rose to $19.8M after a $23.0M IPO, partly offset by $2.35M of offering costs and a $3.75M share redemption. The expansion of Buda Fresh Cherry Limeade into 246 Walmart stores after March 31, 2026 adds early evidence of broader distribution, though financial contribution will depend on future sell-through and retailer adoption.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
free cash flow financial
Non-GAAP Net Income financial
forward-looking statements regulatory
Ultra Fresh™ category technical
Fresh35°™ cold-chain platform technical
Earnings Snapshot
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 2.02 Results of Operations and Financial Condition
On May 13, 2026, Buda Juice, Inc. (the “Company”) reported its financial results for the quarter ended March 31, 2026. A copy of the press release issued by the Company in this connection is furnished herewith as Exhibit 99.1.
The information in this Item in this Current Report on Form 8-K and Exhibit 99.1 attached hereto are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated May 13, 2026, issued by the Buda Juice, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 15, 2026 | Buda Juice, Inc. | |
| By: | /s/ Horatio Lonsdale-Hands | |
| Name: | Horatio Lonsdale-Hands | |
| Title: | Chief Executive Officer | |
Exhibit 99.1
Buda Juice Reports First Quarter Fiscal 2026 Financial Results
Completes First Full Quarter as a Public Company With 17.7% Revenue Growth and 37% Free Cash Flow Growth
Dallas, TX, May 13, 2026 – Buda Juice, Inc. (NYSE American: BUDA), $BUDA, creator and pioneer of the Ultra Fresh™ category in the supermarket fresh perimeter, today reported financial results for the quarter ended March 31, 2026.
Horatio Lonsdale-Hands, Co-Founder and Chief Executive Officer of Buda Juice, commented:
“The first quarter of fiscal 2026 represents a meaningful milestone for Buda Juice. It was effectively our first full quarter as a public company, and we delivered on our commitments. Revenue grew nearly 18% year over year, above the mid-teens outlook we discussed on our last earnings call, while free cash flow increased 37% from the prior-year period.
“Gross margin was impacted by a temporary spike in lime costs following supply chain disruptions in western Mexico in March. Improved labor efficiency, with labor costs as a percentage of revenue improving more than 150 basis points year over year, helped partially offset the impact. Conditions stabilized by the end of the quarter, and we do not currently view this as reflective of the underlying economics of our business.
“Subsequent to quarter’s end, Buda Juice reached another major milestone with the expansion of Buda Fresh™ Cherry Limeade into 246 Walmart stores across nine states. This significantly expanded our geographic footprint beyond Texas and represents an important early step in demonstrating that the Ultra Fresh category and our Fresh35°™ cold-chain platform can scale into broader multi-state distribution.
“When we went public in January, we stated that expanding distribution and bringing our products to more consumers would be a key next step for the Company. We believe this expansion reflects continued progress against that strategy.”
First Quarter Financial Highlights (2026 vs. 2025)
| ● | Revenue increased 17.7% to $3.5 million compared to $3.0 million; | |
| ● | Gross Profit increased 3.5% to $1.4 million compared to $1.3 million; | |
| ● | Operating Income decreased to $0.6 million compared to $0.8 million; | |
| ● | Net Income of $0.4 million compared to $0.8 million; | |
| ● | Diluted earnings per share (EPS) of $0.03; | |
| ● | Non-GAAP Net Income of $0.6 million compared to $0.6 million; | |
| ● | Non-GAAP EPS of $0.05; | |
| ● | Adjusted EBITDA of $0.8 million; | |
| ● | Free Cash Flow of $1.1 million. |
1See GAAP to Non-GAAP reconciliations at the end of this release
Conference Call and Webcast Information
Buda Juice will host a conference call this morning, at 11:00 a.m. Eastern Time to discuss its financial and operational results for its first quarter ended March 31, 2026.
Dial-in and Webcast Information
| Date/Time: | Wednesday, May 13, 2026, at 11:00 a.m. Eastern Time | |
| Toll-Free (North America): | (800) 715-9871 | |
| Toll/International: | (646) 307-1963 | |
| Conference Call ID: | 7817249 | |
| Webcast Link: | https://events.q4inc.com/attendee/605302226 |
Replay Information
| Toll-Free (North America) | (800) 770-2030 | |
| Toll/International: | (609) 800-9909 | |
| Conference Call ID: | 7817249 | |
| Expiration: | Wednesday, May 20, 2026, 11:59 p.m. Eastern Time |
About Buda Juice
Buda Juice (NYSE American: BUDA) is the creator and pioneer of the Ultra Fresh™ category through an end-to-end cold chain platform that delivers always-cold, freshly crafted juices, lemonades and wellness shots to grocery retailers. The Company provides a turnkey alternative to shelf-stable beverages and in-store juicing, enabling retailers to offer truly fresh, clean-label products without added infrastructure or operational complexity. Its continuous 35°F cold chain from fruit to shelf delivers products with an 8 to 12-day shelf life that preserves authentic taste and nutrient quality while enabling efficient retail distribution.
Buda Juice’s proprietary cold-chain infrastructure enables the Company to scale the Ultra Fresh category nationally while maintaining the quality, safety and consistency required by leading grocery retailers, with a disciplined focus on profitability. Additional information about the Company can be found at https://budajuice.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements”. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure investors that such expectations will turn out to be correct, and the Company cautions that actual results may differ materially from anticipated results. Additional factors are discussed in the Company’s public filings with the Securities and Exchange Commission, available for review at www.sec.gov.
Buda Juice Investor/Press Contact
Brian S. Siegel, IRC®, M.B.A.
Senior Managing Director
Hayden IR – Chicago
(346) 396-8696 (o)
brian@haydenir.com
Buda Juice LLC
Balance Sheets
(Amounts in Thousands)
| As of | As of | |||||||
| March 31, 2026 | December 31, 2025 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash | $ | 19,828 | $ | 1,840 | ||||
| Accounts receivable | 494 | 386 | ||||||
| Inventory | 445 | 348 | ||||||
| Prepaid expenses and other current assets | 216 | 645 | ||||||
| Total current assets | 20,983 | 3,219 | ||||||
| Property and equipment, net of accumulated depreciation of $2,153 and $2,096, respectively | 1,138 | 976 | ||||||
| Operating lease right-of-use asset | 739 | 775 | ||||||
| Total assets | $ | 22,860 | $ | 4,970 | ||||
| LIABILITIES AND STOCKHOLDERS’ AND MEMBERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 623 | $ | 289 | ||||
| Other current liabilities | 279 | 161 | ||||||
| Operating lease liability, current portion | 139 | 135 | ||||||
| Total current liabilities | 1,041 | 585 | ||||||
| Operating lease liability, net of current portion | 610 | 647 | ||||||
| Deferred income tax liability | 182 | - | ||||||
| Total long-term liabilities | 792 | 647 | ||||||
| Total liabilities | 1,833 | 1,232 | ||||||
| Stockholders’ and Members’ Equity | ||||||||
| Members’ equity | - | 2,554 | ||||||
| Preferred Stock, $0.001 par value; 10,000 shares authorized; 0 shares issued; 0 shares outstanding | - | - | ||||||
| Common stock, $0.001 par value — 90,000 shares authorized; 13,067 shares issued; 12,567 shares outstanding | 13 | - | ||||||
| Additional paid-in capital | 23,192 | - | ||||||
| Less: Treasury stock | (3,750 | ) | - | |||||
| Retained earnings | 1,572 | 1,184 | ||||||
| Total stockholders’ and members’ equity | 21,027 | 3,738 | ||||||
| Total liabilities and stockholders’ and members’ equity | $ | 22,860 | $ | 4,970 | ||||
Buda Juice LLC
Statements of Operations
(Amounts in Thousands, Except Per Share Data)
| Three Months Ended March 31 | ||||||||
| 2026 | 2025 | |||||||
| Net sales | $ | 3,508 | $ | 2,980 | ||||
| Cost of goods sold | 2,122 | 1,642 | ||||||
| Gross profit | 1,386 | 1,338 | ||||||
| Operating expenses: | ||||||||
| Delivery and handling expense | 130 | 128 | ||||||
| Selling, general and administrative expense | 663 | 416 | ||||||
| Total operating expenses | 793 | 544 | ||||||
| Income from operations | 593 | 794 | ||||||
| Other income | 17 | - | ||||||
| Interest income, net | 137 | 13 | ||||||
| Net income before income tax | 747 | 807 | ||||||
| Income tax expense | 359 | - | ||||||
| Net income | $ | 388 | $ | 807 | ||||
| Net income per share - Basic | $ | 0.03 | - | |||||
| Weighted average shares outstanding - Basic | 12,287 | - | ||||||
| Net income per share - Diluted | $ | 0.03 | - | |||||
| Weighted average shares outstanding - Diluted | 12,351 | - | ||||||
Buda Juice LLC
Statements of Cash Flows
(Amounts in Thousands)
| Three Months Ended | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| Cash flows from operating activities | ||||||||
| Net income | $ | 388 | $ | 807 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 57 | 87 | ||||||
| Amortization of right to use asset | 36 | 25 | ||||||
| Deferred income taxes | 182 | - | ||||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | (108 | ) | (143 | ) | ||||
| Inventory | (97 | ) | 55 | |||||
| Prepaid expenses and other current assets | 429 | (5 | ) | |||||
| Accounts payable and other current liabilities | 452 | 107 | ||||||
| Payments on operating lease obligations | (34 | ) | (29 | ) | ||||
| Net cash provided by operating activities | 1,305 | 904 | ||||||
| Cash flows from investing activities | ||||||||
| Capital spending of property and equipment | (218 | ) | (139 | ) | ||||
| Net cash used for investing activities | (218 | ) | (139 | ) | ||||
| Cash flows from financing activities | ||||||||
| Proceeds from initial public offering | 23,000 | - | ||||||
| Payments of underwriting discounts and offering costs | (2,349 | ) | - | |||||
| Redemption of common stock | (3,750 | ) | - | |||||
| Cash distributed to owners | - | (1,438 | ) | |||||
| Net cash provided by (used in) financing activities | 16,901 | (1,438 | ) | |||||
| Net change in cash and cash equivalents | 17,988 | (673 | ) | |||||
| Cash and cash equivalents at beginning of year | 1,840 | 1,889 | ||||||
| Cash and cash equivalents at end of year | $ | 19,828 | $ | 1,215 | ||||
| Supplemental disclosures of cash flow information: | ||||||||
| Cash paid for interest | - | - | ||||||
| Cash paid for taxes | - | - | ||||||
Non-GAAP Financial Measures
This press release includes references to Adjusted EBITDA and free cash flow, which are non-GAAP financial measures. These non-GAAP measures are provided as supplemental information to assist investors in evaluating the Company’s operating performance and liquidity. They are not intended to be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.
Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation and amortization, and certain non-recurring or non-cash items.
Free cash flow is defined as net cash provided by operating activities less capital expenditures.
