Mene (MENE) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $6.3 million, down 14% year-over-year, impacted by timing of annual March sale and weaker USD.

• Net income reached $1.2 million, an increase of $1.4 million year-over-year.

• Gross profit rose to $2.6 million, with a gross margin of 41%, up from 23% a year ago.

• Operational restructuring led to cost savings and efficiency gains.

• 68% of sales came from returning customers; 11 new product designs launched.

Financial highlights

• IFRS revenue: $6.3 million, down $1.0 million year-over-year.

• Gross profit: $2.6 million, up $0.9 million year-over-year.

• Net income: $1.2 million for the quarter.

• Non-IFRS adjusted revenue: $7.7 million.

• Adjusted EBITDA: $1.3 million.

Outlook and guidance

• Revenue recognition from March sale expected to boost Q2 2026 results.

• Strategic focus on brand equity, growth, and reinvestment in business opportunities.