Edible Garden AG Incorporated

What they do

Edible Garden operates glass, hydroponic, and vertical greenhouse structures to grow organic herbs and produce year-round using less land, water, and energy. It also produces and sells shelf-stable and refrigerated consumer goods including sports nutrition and nutraceuticals (Kick., Vitamin Whey/Vitamin Way), fermented sauces and chili-based products. The company uses its proprietary GreenThumb software for greenhouse management, demand planning, traceability, and logistics.

Revenue drivers

• Cut Herbs — Largest and fastest-growing segment; sales increased 42% in Q2 2026 with new programs at Kroger, Target, and Weis Markets, plus a fresh-cut herb distribution award at a Target Midwest distribution center.
• Potted Herbs — Grew 11.3% in Q2 2026, driven by new placements at Busch's, Kroger, Pete's Market and Weis, and continued growth at Wakefern.
• International Vitamins — Sales increased 50% year-over-year in Q2 2026, aided by incremental product offerings and promotional activity.
• Condiments — Sales grew 594.7% in Q2 2026, supported by new customer placements with Safeway, Wakefern and Woodman's Markets.

Recent performance

For the June 30, 2026 quarter, revenue increased 12.8% year-over-year to $3.5 million, while total sales grew 31.2%. In fiscal 2025, annual revenue fell to $12.8 million from $13.9 million in 2024, while net loss widened to -$17.3 million from -$11.1 million. Operating cash flow was -$11.8 million in 2025. The company had cash of $10.7 million and total liabilities of $22.1 million as of June 30, 2026.

Strategy

Management is advancing a 'Farm-to-Formula' strategy that leverages retail relationships, its vertically integrated CEA platform, and a nationwide distribution network to commercialize ready-to-drink (RTD) beverages. The company completed prototype production at Tetra Pak's New Product Development Center and is developing the Prairie Hills manufacturing platform, expected to provide over 100 million annual beverage units. It is also expanding retail programs with Walmart, Wakefern, ShopRite and The Fresh Market, and recently signed an expanded multi-year private-label agreement with a major Midwest retailer.

Risks

• History of losses and going concern — The company has incurred net losses every year since 2021, with 2025's loss of -$17.3 million larger than the prior year, raising substantial doubt about its ability to continue as a going concern.
• Need for additional financing — Management states it will need to obtain additional financing to fund operations, and has raised capital through unregistered sales of equity in July and August 2026.
• Nasdaq listing compliance — The company faces the risk of failing to maintain the listing of its common stock on Nasdaq and of not meeting listing standards.
• Customer concentration and retail dependence — Revenue growth depends heavily on expanding relationships with major retailers such as Kroger, Target, and Walmart, and any loss or reduction in these programs could materially affect results.

Outlook

Management expects continued momentum from double-digit revenue growth, broad-based product growth, and retail expansion. The company plans to further commercialize its RTD platform and complete Prairie Hills manufacturing capacity. It will continue to rely on external financing to fund operations, given its cash burn.