iFabrick (IFA) Q1 2026 earnings summary

Executive summary

• Q1 revenue reached CAD 27.5 million ($27,502,695), a record high and up 288% year-over-year, surpassing prior guidance.

• Growth was driven by new medical apparel and footwear programs, rebranding of intimate apparel, and expanded programs at major retailers.

• Strong performance in both Intelligent Fabrics (CAD 23.6 million) and Intimate Apparel (CAD 3.9 million), each significantly up year-over-year.

• Management remains focused on leveraging operational capabilities for further expansion and sustained profitability.

Financial highlights

• Gross margin improved to 33% from 26% in the prior quarter, but declined from 39% year-over-year due to product mix and higher US tariffs.

• Adjusted EBITDA for Q1 was CAD 5.7 million ($5,733,393), up from $318,478 in Q1 2025.

• Net earnings after tax were $3,710,214 ($0.122 per share), up from $88,458 ($0.003 per share) in Q1 2025.

• Inventory stood at CAD 16.9 million, reflecting preparation for new programs and anticipated fabric price increases.

• Cash decreased by $2,022,335 to $1,760,999 at quarter-end, mainly due to increased inventory investments.

Outlook and guidance

• Management expects continued momentum from new product launches and expanded retail partnerships.

• The new Nudish™ brand in intimate apparel is expected to drive future revenue growth by targeting a younger demographic and expanding product categories.