<p>Edible Garden AG, Inc.（(EDBL)）已舉行其第一季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
<h3>在 TipRanks 上享受 55% 的折扣</h3>
<ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，以做出更聰明、更精準的決策</li>
<li>發現表現優異的股票投資理念，並升級到市場領先者的投資組合，使用智能投資者精選</li>
</ul>
<p>Edible Garden AG, Inc. 最新的財報電話會議傳達了謹慎樂觀的語氣，管理層在強勁的銷售勢頭與日益增加的成本和流動性壓力之間取得了平衡。收入同比增長近 23%，公司在即飲產品（RTD）戰略上展示了顯著進展，但虧損擴大、折舊加重以及緊張的營運資金狀況抑制了投資者的熱情。</p>
<h2>收入增長</h2>
<p>總收入從大約 270 萬美元增長約 22.9%，達到 330 萬美元，突顯了整個產品組合的強勁需求和成功的零售執行。管理層將這一增長歸功於新的分銷勝利和與現有合作伙伴的更強銷售，認為這一增長表明品牌在其歷史細分市場之外獲得了關注。</p>
<h2>切割香草表現</h2>
<p>切割香草依然表現突出，銷售同比激增約 45.9%，成為頂線擴張的關鍵引擎。與大型連鎖店如 Kroger 和 Weis Markets 的新賬户推動了這一表現，顯示公司能夠利用其運營足跡快速擴展新鮮產品。</p>
<h2>品牌類別的強勁增長</h2>
<p>除了農產品外，Edible Garden 在高利潤率品牌產品線中報告了強勁增長，標誌着其業務組合的有意轉變。維生素和補充劑的銷售增長約 27%，而調味品收入則激增約 51%，表明消費者對品牌在耐儲存類別中的接受度不斷提高。</p>
<h2>國際擴張</h2>
<p>國際銷售同比增長約 50%，主要得益於與 PriceSmart 在加勒比地區和南美的更廣泛分銷。管理層將這一勢頭視為品牌全球吸引力的早期驗證，併為未來增長奠定基礎，隨着物流和供應鏈的進一步優化。</p>
<h2>零售足跡擴展</h2>
<p>公司的零售網絡現在覆蓋美國、加勒比地區和南美的 6000 多個地點，標誌着可見度的顯著提升。在本季度，Edible Garden 增加了包括 Target、Safeway、The Fresh Market、Hannaford、Busch’s 和 Woodman’s 等知名品牌，如果執行保持，預計將繼續實現銷量增長。</p>
<h2>RTD 平台進展</h2>
<p>管理層花費了大量時間討論 RTD 計劃，稱其為一個核心增長支柱，具有長期的利潤潛力。公司正在與包裝合作伙伴 Tetra Pak 整合，正在與 McCormick 合作進行產品開發，目標是在 7 月中旬進行原型製作，並計劃在 9 月開始共同生產，預計在 2027 年底或 2028 年初推出內部設施。</p>
<h2>現金流和流動性改善</h2>
<p>儘管資產負債表持續承壓，Edible Garden 強調了現金生成和流動性趨勢的改善，指出這是連續第五個季度的現金增長。現金從年末的 110 萬美元上升至約 200 萬美元，得益於接近 251,000 美元的正經營現金流、更強的應收賬款回收和庫存減少。</p>
<h2>運營執行和自動化</h2>
<p>為了支持擴展，公司繼續投資於自動化和勞動力效率，第四季度完成的關鍵項目為第一季度的運營做出了貢獻。管理層提到裁員和自動化是提高吞吐量和 98% 準時發貨率的驅動因素，強調了對零售合作伙伴的可靠性。</p>
<h2>運營費用增加</h2>
<p>頂線增長以運營費用的急劇上升為代價，運營費用從一年前的 560 萬美元增加至約 1000 萬美元。由於第三方採購驅動的銷售成本上升以及折舊和攤銷增加是主要因素，壓縮了利潤率並延遲了盈利能力。</p>
<h2>淨虧損擴大</h2>
<p>儘管收入強勁增長，公司在本季度錄得約 370 萬美元的淨虧損，而去年同期約為 330 萬美元。管理層承認，虧損反映了持續的利潤壓力和對尚未完全轉化為收益的戰略投資。</p>
<h2>折舊和轉型相關成本</h2>
<p>折舊和攤銷增加約 250 萬美元，主要由於與向 RTD 和清潔營養製造轉型相關的加速折舊。這些非現金費用對報告結果產生了重大影響，但與支持公司長期戰略轉型的資產相關。</p>
<h2>依賴過渡性第三方採購</h2>
<p>為了滿足對切割香草的激增需求，Edible Garden 依賴第三方採購安排，這抬高了其銷售成本並壓縮了利潤率。管理層將這些供應關係描述為過渡性的，並表示重新談判和逐步轉向更高效的採購將對恢復盈利能力至關重要。</p>
<h2>流動性有限和營運資金赤字</h2>
<p>儘管現金狀況有所改善，公司仍然面臨營運資金赤字，並承認需要進一步增強其資本基礎。執行增長計劃，特別是在 RTD 和品牌類別中，將需要在投資、成本控制和潛在未來融資選項之間進行謹慎平衡。</p>
<h2>非經常性所得税收益</h2>
<p>報告結果受益於約 340 萬美元的所得税收益，這與税務證書轉讓計劃下的估值準備金釋放有關。管理層強調，這是一項一次性、非經常性項目，不應被視為經營業績或未來現金生成的經常性驅動因素。</p>
<h2>RTD 執行和產能風險</h2>
<p>RTD 機會也帶來了短期的執行和產能風險，因為當前的需求預計將通過一家已經接近其極限的第三方合作製造商來滿足。由於 Edible Garden 自己的工廠預計要到 2027 年底或 2028 年初才能投入使用，公司面臨着幾年的依賴和潛在的供應瓶頸。</p>
<h2>較低利潤率的核心業務</h2>
<p>管理層承認，核心切割香草和某些農產品線的利潤率結構性較低，並將繼續拖累整體盈利能力，直到產品組合更傾向於更高利潤率的耐儲存產品。不斷上升的分銷成本，包括燃料，增加了另一層壓力，強化了向維生素、調味品和 RTD 的戰略推進。</p>
<h2>指引和前瞻性展望</h2>
<p>展望未來，Edible Garden 的指引集中在有序執行上，以保持收入增長，同時逐步改善利潤率和增強資產負債表。優先事項包括在其 6000 多家門店的分銷網絡中深化分銷，將切割香草的採購轉向更低成本，傾向於更高利潤率的品牌產品，並推進 RTD 製造，管理層將其視為進入快速增長的全球 RTD 市場的門户。</p>
<p>Edible Garden 的財報電話會議描繪了一幅公司轉型的圖景，強勁的收入增長和雄心勃勃的 RTD 戰略被高昂的成本、虧損和資金限制所抵消。對於投資者而言，故事的關鍵在於管理層能否在流動性和執行風險掩蓋其長期計劃的承諾之前，將分銷勝利和品類勢頭轉化為可持續的利潤率。</p>

EDBLW

EDBL

全球農業 - First Trust

全球農產品股指數 ETF - iShares

<p>Edible Garden AG 第一季度的財報電話會議強調，收入增長了 22.9%，達 330 萬美元，主要得益於切割香草和品牌類別的強勁銷售。儘管實現了增長，公司仍報告淨虧損 370 萬美元，原因是運營費用上升和對第三方採購的依賴。管理層強調了現金流和流動性的改善，同時概述了國際擴張和開發即飲產品線的計劃，儘管面臨持續的利潤壓力</p>

<p>Edible Garden AG , Inc. ((EDBL)) has held its Q1 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Edible Garden AG, Inc.（(EDBL)）已舉行其第一季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
</div><h3>Claim 55% Off TipRanks</h3>
<div class="lb-trans"><h3>在 TipRanks 上享受 55% 的折扣</h3>
</div><ul>
<li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions</li>
<li>Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks</li>
</ul>
<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，以做出更聰明、更精準的決策</li>
<li>發現表現優異的股票投資理念，並升級到市場領先者的投資組合，使用智能投資者精選</li>
</ul>
</div><p>Edible Garden AG, Inc.’s latest earnings call struck a cautiously optimistic tone as management balanced strong sales momentum with mounting cost and liquidity pressures. Revenue jumped nearly 23% year over year and the company showcased notable progress on its ready‑to‑drink, or RTD, strategy, yet widening losses, heavier depreciation and a tight working capital position tempered investor enthusiasm.</p>
<div class="lb-trans"><p>Edible Garden AG, Inc. 最新的財報電話會議傳達了謹慎樂觀的語氣，管理層在強勁的銷售勢頭與日益增加的成本和流動性壓力之間取得了平衡。收入同比增長近 23%，公司在即飲產品（RTD）戰略上展示了顯著進展，但虧損擴大、折舊加重以及緊張的營運資金狀況抑制了投資者的熱情。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增長</h2>
</div><p>Total revenue climbed about 22.9% from roughly $2.7 million to $3.3 million in the quarter, underlining solid demand across the portfolio and successful retail execution. Management credited both new distribution wins and stronger sell‑through with existing partners, framing the growth as evidence the brand is gaining traction beyond its historical niche.</p>
<div class="lb-trans"><p>總收入從大約 270 萬美元增長約 22.9%，達到 330 萬美元，突顯了整個產品組合的強勁需求和成功的零售執行。管理層將這一增長歸功於新的分銷勝利和與現有合作伙伴的更強銷售，認為這一增長表明品牌在其歷史細分市場之外獲得了關注。</p>
</div><h2>Cut Herbs Performance</h2>
<div class="lb-trans"><h2>切割香草表現</h2>
</div><p>Cut herbs remained a standout, with sales surging approximately 45.9% year over year and emerging as a key engine of top‑line expansion. New accounts with large chains such as Kroger and Weis Markets helped drive this performance, showing that the company can leverage its operational footprint to scale fresh offerings quickly.</p>
<div class="lb-trans"><p>切割香草依然表現突出，銷售同比激增約 45.9%，成為頂線擴張的關鍵引擎。與大型連鎖店如 Kroger 和 Weis Markets 的新賬户推動了這一表現，顯示公司能夠利用其運營足跡快速擴展新鮮產品。</p>
</div><h2>Strong Growth in Branded Categories</h2>
<div class="lb-trans"><h2>品牌類別的強勁增長</h2>
</div><p>Beyond produce, Edible Garden reported robust gains in higher‑margin branded lines, signaling a deliberate pivot in its business mix. Vitamin and supplement sales increased about 27% while condiment revenue jumped approximately 51%, suggesting rising consumer acceptance of the brand in shelf‑stable categories.</p>
<div class="lb-trans"><p>除了農產品外，Edible Garden 在高利潤率品牌產品線中報告了強勁增長，標誌着其業務組合的有意轉變。維生素和補充劑的銷售增長約 27%，而調味品收入則激增約 51%，表明消費者對品牌在耐儲存類別中的接受度不斷提高。</p>
</div><h2>International Expansion</h2>
<div class="lb-trans"><h2>國際擴張</h2>
</div><p>International sales advanced roughly 50% year over year, fueled primarily by broader distribution with PriceSmart across the Caribbean and South America. Management presented this momentum as an early validation of the brand’s global appeal and a platform for future growth as logistics and supply chains are further optimized.</p>
<div class="lb-trans"><p>國際銷售同比增長約 50%，主要得益於與 PriceSmart 在加勒比地區和南美的更廣泛分銷。管理層將這一勢頭視為品牌全球吸引力的早期驗證，併為未來增長奠定基礎，隨着物流和供應鏈的進一步優化。</p>
</div><h2>Retail Footprint Expansion</h2>
<div class="lb-trans"><h2>零售足跡擴展</h2>
</div><p>The company’s retail presence now spans more than 6,000 locations across the U.S., Caribbean and South America, marking a meaningful step‑up in visibility. During the quarter, Edible Garden added prominent banners including Target, Safeway, The Fresh Market, Hannaford, Busch’s and Woodman’s, positioning it for continued volume gains if execution holds.</p>
<div class="lb-trans"><p>公司的零售網絡現在覆蓋美國、加勒比地區和南美的 6000 多個地點，標誌着可見度的顯著提升。在本季度，Edible Garden 增加了包括 Target、Safeway、The Fresh Market、Hannaford、Busch’s 和 Woodman’s 等知名品牌，如果執行保持，預計將繼續實現銷量增長。</p>
</div><h2>RTD Platform Progress</h2>
<div class="lb-trans"><h2>RTD 平台進展</h2>
</div><p>Management devoted substantial time to the RTD initiative, calling it a central growth pillar with long‑term margin potential. The company is integrating with packaging partner Tetra Pak, collaborating with McCormick on product development, targeting mid‑July prototyping and planning co‑manufacturing to begin in September ahead of an in‑house facility launch slated for late 2027 or early 2028.</p>
<div class="lb-trans"><p>管理層花費了大量時間討論 RTD 計劃，稱其為一個核心增長支柱，具有長期的利潤潛力。公司正在與包裝合作伙伴 Tetra Pak 整合，正在與 McCormick 合作進行產品開發，目標是在 7 月中旬進行原型製作，並計劃在 9 月開始共同生產，預計在 2027 年底或 2028 年初推出內部設施。</p>
</div><h2>Cash Flow and Liquidity Improvement</h2>
<div class="lb-trans"><h2>現金流和流動性改善</h2>
</div><p>Despite persistent balance‑sheet strain, Edible Garden highlighted improvements in cash generation and liquidity trends, noting its fifth straight quarter of sequential cash growth. Cash rose to about $2.0 million from $1.1 million at year‑end, supported by positive operating cash flow near $251,000, stronger receivable collections and reductions in inventory.</p>
<div class="lb-trans"><p>儘管資產負債表持續承壓，Edible Garden 強調了現金生成和流動性趨勢的改善，指出這是連續第五個季度的現金增長。現金從年末的 110 萬美元上升至約 200 萬美元，得益於接近 251,000 美元的正經營現金流、更強的應收賬款回收和庫存減少。</p>
</div><h2>Operational Execution and Automation</h2>
<div class="lb-trans"><h2>運營執行和自動化</h2>
</div><p>To support scaling, the company continued investing in automation and workforce efficiency, with key projects completed in the fourth quarter and contributing to first‑quarter operations. Management cited labor reductions and automation as drivers of better throughput and a 98% on‑time ship rate, underscoring reliability for retail partners.</p>
<div class="lb-trans"><p>為了支持擴展，公司繼續投資於自動化和勞動力效率，第四季度完成的關鍵項目為第一季度的運營做出了貢獻。管理層提到裁員和自動化是提高吞吐量和 98% 準時發貨率的驅動因素，強調了對零售合作伙伴的可靠性。</p>
</div><h2>Operating Expense Increase</h2>
<div class="lb-trans"><h2>運營費用增加</h2>
</div><p>The top‑line gains came at the cost of a steep rise in operating expenses, which increased to about $10.0 million from $5.6 million a year earlier. Higher cost of goods sold driven by third‑party sourcing and elevated depreciation and amortization were the main contributors, compressing margins and delaying profitability.</p>
<div class="lb-trans"><p>頂線增長以運營費用的急劇上升為代價，運營費用從一年前的 560 萬美元增加至約 1000 萬美元。由於第三方採購驅動的銷售成本上升以及折舊和攤銷增加是主要因素，壓縮了利潤率並延遲了盈利能力。</p>
</div><h2>Widening Net Loss</h2>
<div class="lb-trans"><h2>淨虧損擴大</h2>
</div><p>The company posted a net loss of roughly $3.7 million for the quarter compared with about $3.3 million in the prior‑year period, despite the strong revenue growth. Management acknowledged that the loss reflects ongoing margin pressure and investment in strategic initiatives that have yet to fully translate into earnings.</p>
<div class="lb-trans"><p>儘管收入強勁增長，公司在本季度錄得約 370 萬美元的淨虧損，而去年同期約為 330 萬美元。管理層承認，虧損反映了持續的利潤壓力和對尚未完全轉化為收益的戰略投資。</p>
</div><h2>Depreciation and Pivot‑Related Costs</h2>
<div class="lb-trans"><h2>折舊和轉型相關成本</h2>
</div><p>Depreciation and amortization rose by approximately $2.5 million, largely due to accelerated depreciation linked to the pivot toward RTD and clean‑nutrition manufacturing at the Prairie Hills facility. These non‑cash charges weighed heavily on reported results but are tied to assets intended to support the company’s long‑term strategic shift.</p>
<div class="lb-trans"><p>折舊和攤銷增加約 250 萬美元，主要由於與向 RTD 和清潔營養製造轉型相關的加速折舊。這些非現金費用對報告結果產生了重大影響，但與支持公司長期戰略轉型的資產相關。</p>
</div><h2>Reliance on Transitional Third‑Party Sourcing</h2>
<div class="lb-trans"><h2>依賴過渡性第三方採購</h2>
</div><p>To meet surging demand for cut herbs, Edible Garden leaned on third‑party sourcing arrangements that inflated its cost of goods sold and crimped margins. Management described these supply relationships as transitional and indicated that renegotiation and a gradual shift to more efficient sourcing will be critical to restoring profitability.</p>
<div class="lb-trans"><p>為了滿足對切割香草的激增需求，Edible Garden 依賴第三方採購安排，這抬高了其銷售成本並壓縮了利潤率。管理層將這些供應關係描述為過渡性的，並表示重新談判和逐步轉向更高效的採購將對恢復盈利能力至關重要。</p>
</div><h2>Limited Liquidity and Working Capital Deficit</h2>
<div class="lb-trans"><h2>流動性有限和營運資金赤字</h2>
</div><p>While the cash position improved, the company still operates with a working capital deficit and acknowledged the need to further strengthen its capital base. Executing growth plans, particularly in RTD and branded categories, will require careful balance between investment, cost discipline and potential future financing options.</p>
<div class="lb-trans"><p>儘管現金狀況有所改善，公司仍然面臨營運資金赤字，並承認需要進一步增強其資本基礎。執行增長計劃，特別是在 RTD 和品牌類別中，將需要在投資、成本控制和潛在未來融資選項之間進行謹慎平衡。</p>
</div><h2>Nonrecurring Income Tax Benefit</h2>
<div class="lb-trans"><h2>非經常性所得税收益</h2>
</div><p>Reported results benefited from an income tax gain of about $3.4 million tied to a valuation allowance release under a tax certificate transfer program. Management stressed that this is a discrete, nonrecurring item and should not be viewed as a recurring driver of operating performance or future cash generation.</p>
<div class="lb-trans"><p>報告結果受益於約 340 萬美元的所得税收益，這與税務證書轉讓計劃下的估值準備金釋放有關。管理層強調，這是一項一次性、非經常性項目，不應被視為經營業績或未來現金生成的經常性驅動因素。</p>
</div><h2>RTD Execution and Capacity Risks</h2>
<div class="lb-trans"><h2>RTD 執行和產能風險</h2>
</div><p>The RTD opportunity also brings near‑term execution and capacity risks, as current demand is slated to be met through a third‑party co‑manufacturer that is already nearing its limits. With Edible Garden’s own factory not expected online until late 2027 or early 2028, the company faces several years of dependency and potential supply bottlenecks.</p>
<div class="lb-trans"><p>RTD 機會也帶來了短期的執行和產能風險，因為當前的需求預計將通過一家已經接近其極限的第三方合作製造商來滿足。由於 Edible Garden 自己的工廠預計要到 2027 年底或 2028 年初才能投入使用，公司面臨着幾年的依賴和潛在的供應瓶頸。</p>
</div><h2>Lower‑Margin Core Business</h2>
<div class="lb-trans"><h2>較低利潤率的核心業務</h2>
</div><p>Management acknowledged that core cut‑herb and certain produce lines are structurally lower‑margin and will continue to drag on overall profitability until the mix tilts more heavily toward shelf‑stable, higher‑margin products. Rising distribution costs, including fuel, add another layer of pressure, reinforcing the strategic push into vitamins, condiments and RTD.</p>
<div class="lb-trans"><p>管理層承認，核心切割香草和某些農產品線的利潤率結構性較低，並將繼續拖累整體盈利能力，直到產品組合更傾向於更高利潤率的耐儲存產品。不斷上升的分銷成本，包括燃料，增加了另一層壓力，強化了向維生素、調味品和 RTD 的戰略推進。</p>
</div><h2>Guidance and Forward‑Looking Outlook</h2>
<div class="lb-trans"><h2>指引和前瞻性展望</h2>
</div><p>Looking ahead, Edible Garden’s guidance centers on disciplined execution to keep scaling revenue while gradually improving margins and strengthening the balance sheet. Priorities include deepening distribution across its 6,000‑plus store footprint, transitioning cut‑herb sourcing to lower costs, leaning into higher‑margin branded lines and advancing RTD manufacturing, which management views as a gateway into a rapidly growing global RTD market.</p>
<div class="lb-trans"><p>展望未來，Edible Garden 的指引集中在有序執行上，以保持收入增長，同時逐步改善利潤率和增強資產負債表。優先事項包括在其 6000 多家門店的分銷網絡中深化分銷，將切割香草的採購轉向更低成本，傾向於更高利潤率的品牌產品，並推進 RTD 製造，管理層將其視為進入快速增長的全球 RTD 市場的門户。</p>
</div><p>Edible Garden’s earnings call painted a picture of a company in transition, with strong top‑line growth and an ambitious RTD strategy offset by elevated costs, losses and funding constraints. For investors, the story hinges on whether management can convert distribution wins and category momentum into sustainable margins before liquidity and execution risks overshadow the promise of its long‑term plan.</p>
<div class="lb-trans"><p>Edible Garden 的財報電話會議描繪了一幅公司轉型的圖景，強勁的收入增長和雄心勃勃的 RTD 戰略被高昂的成本、虧損和資金限制所抵消。對於投資者而言，故事的關鍵在於管理層能否在流動性和執行風險掩蓋其長期計劃的承諾之前，將分銷勝利和品類勢頭轉化為可持續的利潤率。</p>
</div>

Edible Garden AG 的財報電話會議突出了公司的增長和風險