Rex Concepts (REXA) Q1 2026 earnings summary

Executive summary

• Sales increased 65% year-over-year, driven by a 68% rise in restaurant sales and expansion to 171 restaurants, up from 107 a year earlier.

• Opened 12 new restaurants in Q1 2026, with balanced growth across brands and geographies.

• Achieved positive EBITDA and improved operational efficiency, with cost ratios for food and labor declining.

Financial highlights

• Total revenue for Q1 2026 was PLN 181.9 million, up from PLN 110.2 million in Q1 2025.

• Net loss widened to PLN 31.9 million from PLN 20.8 million year-over-year.

• Adjusted EBITDA improved to PLN 17.9 million from PLN 2.1 million in Q1 2025.

• Net cash from operating activities was PLN 17.1 million, compared to outflows of PLN 14.2 million a year earlier.

• Capital expenditures reached PLN 47.6 million, mainly for new restaurant openings.

Outlook and guidance

• Management expects continued improvement in financial results as the restaurant base matures and operational scale increases.

• Liquidity position strengthened by IPO proceeds and available credit lines.