My Food Bag Group (MFB) H1 2026 earnings summary

Executive summary

• Revenue for the half-year to 30 September 2025 was $85.4 million, up 3.8% year-over-year, with EBITDA at $7.2 million and net profit after tax at $2.9 million, broadly in line with the prior year.

• Growth was driven by increased active customers (up to 61,300 from 60,100), higher order frequency, and successful new product launches, particularly in health-focused meal kits.

• Strategic focus remains on expanding active customers, reinforcing brand leadership in meal kits, and growing into the broader online food category.

• Expanded product offerings included Diabetes Plan and GLP-1 Support meal kits, and enhanced delivery network.

• Interim dividend of 0.75 cent per share declared, fully imputed, with a dividend reinvestment plan available.

Financial highlights

• Revenue increased 3.8% year-over-year to $85.4 million, supported by higher deliveries and average order values.

• Gross margin was 48.5%, down from 49.8% last year, reflecting 4.1% food price inflation.

• Contribution margin declined to 21.9%, mainly from higher distribution and labor costs.

• Net debt reduced to $5.5 million, with free cash flow and disciplined capital management supporting debt reduction.

• Interim dividend of 0.75 cent per share declared, with a reinvestment plan available.

Outlook and guidance

• Year-to-date revenue growth accelerated to 4.6% post-balance date, with positive gross margin impact from recent price adjustments.

• Full-year profitability expected to be broadly in line with the prior year; CapEx to remain low and focus on further debt reduction.

• Continued ingredient cost pressures anticipated, but strategic initiatives and investment in product quality and customer experience position the business well for the remainder of FY 2026.