Jamieson Wellness (JWEL) Q1 2025 earnings summary

Executive summary

• Consolidated revenue grew 14% year-over-year in Q1 2025 to $146.0 million, with branded and strategic partner segments exceeding expectations.

• Adjusted EBITDA rose 18.4% to $19.1 million, outpacing revenue growth, reflecting strong global demand and effective execution of growth strategies.

• China revenue surged over 50%, driven by increased brand awareness, successful promotional campaigns, and social e-commerce growth.

• International revenue rose nearly 30%, with strong performance in women's health and immunity categories.

• New product launches, ERP system implementation, and sustainability initiatives supported operational efficiency and future growth.

Financial highlights

• Q1 2025 consolidated revenue reached $146.0 million, up 14% year-over-year.

• Gross profit increased by $12.4 million to $55.2 million; normalized gross profit up $10.4 million.

• Gross profit margin improved by 440 basis points to 37.8%; normalized margin up 270 basis points.

• Adjusted EBITDA rose 18.6% to $19.1 million; adjusted net earnings were $5.9 million, up $2.0 million.

• Adjusted diluted EPS was $0.14, up from $0.09 year-over-year.

Outlook and guidance

• Fiscal 2025 revenue expected between $800.0–$840.0 million, representing 9.0%–14.5% growth.

• Adjusted EBITDA guidance of $157.0–$163.0 million, up 11.0%–15.5% year-over-year.

• Adjusted diluted EPS forecasted at $1.82–$1.93, a 13.0%–20.0% increase.

• Q2 consolidated revenue expected between $185–195 million, up to 5% growth; Jamieson Brands Q2 revenue expected to grow 5–10% year-over-year.

• No material impact expected from current U.S. tariff framework in 2025.