| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 305.59 | 2.7% | 15.4% |
| Total Income | 305.59 | 2.7% | 15.4% |
| Expenditure | 283.88 | 3.2% | 15.0% |
| PBT | 25.60 | 61.0% | 57.5% |
| Net Profit | 19.49 | 59.8% | 19.1% |
| OPM | 7.10% | 5.65pp | 0.38pp |
| NPM | 6.38% | 9.92pp | 0.20pp |
| EPS | 0.40 | 59.6% | 17.6% |
Freshpet Reports Q2 2026 Results: Net Sales Up 15.5% to $305.6M, Raises 2026 Outlook
05 Aug 2026 · 5 Aug, 4:07 pm
Summary
Freshpet reported strong second quarter 2026 financial results, with net sales increasing 15.5% year-over-year to $305.6 million, driven by volume gains. The company saw significant margin improvements, with gross margin rising to 42.1% and Adjusted Gross Margin reaching 48.6%. Adjusted EBITDA grew to $52.2 million, up from $44.4 million in the prior year. Management expressed confidence in the business model and its positioning in the growing fresh pet food segment, leading the company to raise its full-year 2026 outlook for net sales and Adjusted EBITDA, and updating its long-term Adjusted Gross Margin target to over 49%.
Key Highlights
- 1
Freshpet reported net sales of $305.6 million for the second quarter of 2026, an increase of 15.5% compared to the prior year period.
- 2
Gross margin for the second quarter of 2026 was 42.1%, an improvement from 40.9% in the prior year period.
- 3
Adjusted Gross Margin improved to 48.6% in Q2 2026, up from 46.9% in the prior year period.
- 4
Net income for the second quarter of 2026 was $19.5 million, an increase from $16.4 million in the prior year period.
- 5
Adjusted EBITDA for Q2 2026 was $52.2 million, up from $44.4 million in the prior year period.
- 6
The company raised its full-year 2026 guidance for net sales growth to 10% to 12% and Adjusted EBITDA to $210 million to $220 million.
- 7
Freshpet updated its long-term Adjusted Gross Margin target to at least 49% for full year 2027.
Management Comments
Billy Cyr
Our second quarter performance demonstrates the strength and resilience of our business model. It also reinforces our belief that fresh is the future of pet food and that Freshpet is uniquely positioned to win in that segment. Despite economic headwinds and new competitors, we grew significantly faster than the category, improved margins, and produced strong cash flow. We believe our manufacturing scale and expertise enables us to deliver the highest quality products at the lowest costs, while our expanding omnichannel presence enables us to grow market share and deepen engagement with our most valuable pet parents. This gives us confidence in our ability to fulfill Freshpet's mission to help dogs and cats live longer, happier lives with the people who love them and create long-term value for shareholders.
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