Report

Delivra Health Brands Inc. (TSXV: DHB / OTCQB: DHBUF) - E-Commerce Growth Offsets Q2 Weakness, Market Missing the Upside Potential

In Q2 (ended December 2025), revenue declined 12% year-over-year and came in 14% below estimates, primarily due to a 35% drop in Canadian sales caused by the timing of large customer orders. Historically, Q2 results have been uneven because of order timing, distributor shipments, and holiday season effects. Despite this weakness, direct-to-consumer e-commerce sales grew 27% year-over-year, indicating strong customer engagement and repeat purchasing. EBITDA fell as a result of lower revenue and compressed gross margins, and although EPS improved from ($0.03) to ($0.01) due to reduced depreciation expenses, it still missed the forecast of a slight profit of $0.001 per share. Overall, the small loss suggests the company is close to profitability and could scale quickly with stronger revenue growth.
Underlying
Delivra Health Brands Inc.

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Fundamental Research
Fundamental Research

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Analysts
Sid Rajeev

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