AMASS Brands (AMSS) investor relations material

Executive summary

• Q2 2026 marked the first earnings call as a public company, highlighted by a Nasdaq direct listing and a strategic focus on simplifying the portfolio and concentrating on high-potential brands.

• Net revenue for Q2 2026 was $5.6 million, up 2% year-over-year, with core brands growing 12% and non-alcoholic & functional segment revenue up 132%.

• Gross profit fell 30% to $1.5 million, with gross margin compressing to 26.7% due to clearance sales, inventory write-downs, tariffs, and higher freight costs.

• The company is intentionally winding down legacy brands and investing in non-alcoholic, functional, and DTC channels for a more capital-efficient, scalable business model.

• Operating loss widened to $6.0 million, driven by $4.1 million in unallocated corporate G&A costs related to the Direct Listing and public company transition.

Financial highlights

• Q2 net revenue was $5.6 million, up 2% year-over-year; first six months net revenue was $9.7 million, nearly flat from last year.

• Core brands generated $3.9 million in Q2 revenue, up 12% year-over-year; non-alcoholic and functional segment revenue grew 132% in Q2.

• Gross margin for Q2 was 26.7%; adjusted gross margin (excluding inventory write-downs) was 29.3%.

• Adjusted EBITDA loss for Q2 was $1.7 million; net loss for Q2 was $7.5 million.

• Cash and cash equivalents at June 30, 2026 were $1.6 million, with $3.8 million drawn on a $5.0 million credit facility.

Outlook and guidance

• Second half 2026 net revenues expected to be at least $8.7 million, up 10% year-over-year; full year 2026 net revenues projected at no less than $18.5 million, a 4% increase over 2025.

• Fiscal 2027 net revenue growth targeted at a minimum of 20% over 2026, or at least $22.2 million.

• Management expects continued net losses and negative cash flow, with additional capital required to fund operations over the next twelve months.

• Guidance reflects a transition to a more focused, higher-quality portfolio and improved operating platform.

• Focus remains on core brand growth, direct-to-consumer expansion, and cost discipline in Wine & Spirits.