TRUBAR (SBBC) Q2 2025 earnings summary

Executive summary

• Achieved record Q2 net revenue of $17.7 million, up 176% year-over-year, driven by retail and DTC growth.

• Completed corporate name change to TRUBAR Inc. and sold non-core skincare brand to focus on core business.

• Expanded retail presence to over 20,000 doors, targeting 25,000 by year-end, and launched TRUBAR KiDS.

• Nationwide launch in Target, expansion into 500+ new grocery stores, and entry into Mexico.

• Reaffirmed full-year 2025 net revenue guidance of $65–$70 million.

Financial highlights

• Net revenue for Q2 2025 was $17.7 million, a 176% increase from Q2 2024.

• Gross profit was $4 million, up 35% year-over-year, but gross margin percentage declined to 22% due to retail and promotional investments.

• Adjusted EBITDA loss was $1.7 million, reflecting increased marketing spend.

• Operating costs rose 87% to $6.77 million, and G&A expenses increased to about $4 million in Q2.

• Net loss from continuing operations was $1.96 million, a significant improvement from a $7.07 million loss in Q2 2024.

Outlook and guidance

• Full-year 2025 net revenue guidance reaffirmed at $65–$70 million, representing 50–60% year-over-year growth.

• Management expects continued growth through retail expansion, innovation, and increased brand awareness.

• Expecting to be adjusted EBITDA positive by end of 2026.

• Confident in reaching 25,000 retail doors and strong second-half performance.