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Mission Produce (AVO) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Sep 8, 2026 · Mission Produce (AVO) Q3 FY26 earnings results →

Q3 FY26 Revenue up 26% year over year to $450M · 1¢ of every $1 of revenue lost · operating margin 0.1%

Mission Produce made $450M in Q3 FY26 (+26% Y/Y): Avocado $398M, Mango $24.2M, Prepared Foods $15.5M. Operating margin 0.1%, net loss $5.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 8, 2026.

Revenue$450M
Year over year+26%
Operating margin0.1%
Net earnings−$5.8M
Operating cash flow−$4.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $450.0M in Q3 FY26, up 26% year over year and up 55% from the previous quarter. Avocado was the largest line at 88% of revenue. Avocado added $71.2M year over year (up 22%), 77% of the total change.

Gross margin was 9.9%, down 2.7 points from Q3 FY25. Operating profit was $500K, a 0.1% margin (down 5.8 points year over year). Operating profit fell $20.5M even though revenue rose $92.3M versus Q3 FY25, so costs grew faster than sales. Operating expenses grew 83% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+12500%). The quarter ended with a net loss of $5.8M, narrower than the previous quarter's $7.4M loss. Net interest and other expense of $5.7M was the main reason.

Operating cash flow was −$4.9M. Non-cash charges added back $14.9M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $15.7M. Capital expenditures of $9.1M exceeded it, leaving free cash flow of −$14.0M.

Quarterly history

Mission Produce revenue by quarterMission Produce revenue by quarter$354MQ4 FY24$380MQ2 FY25$358MQ3 FY25$319MQ4 FY25$279MQ1 FY26$291MQ2 FY26$450MQ3 FY26
Mission Produce net earnings by quarterMission Produce net earnings by quarter$17.3MQ4 FY24$3.1MQ2 FY25$14.5MQ3 FY25$16.0MQ4 FY25−$100KQ1 FY26−$7.4MQ2 FY26−$5.8MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QSep 8, 2026$450M+26%0.1%−$5.8M−$4.9M
Q2 FY2610-QJun 8, 2026$291M-24%-2.4%−$7.4M−$18.0M
Q1 FY2610-QMar 12, 2026$279M-17%0.9%−$100K−$3.0M
Q4 FY2510-KDec 18, 2025$319M-10%8.8%$16.0M$67.2M
Q3 FY2510-QSep 8, 2025$358M+10%5.9%$14.5M$34.4M
Q2 FY2510-QJun 5, 2025$380M+28%1.8%$3.1M−$11.8M
Q4 FY2410-KDec 19, 2024$354M+37%8.1%$17.3M$38.0M

Charts

Mission Produce: revenue growth, year over year and quarter over quarterMission Produce: revenue growth, year over year and quarter over quarterY/YQ/Q+37%Q4 FY24+28%+7%Q2 FY25+10%-6%Q3 FY25-10%-11%Q4 FY25-17%-13%Q1 FY26-24%+4%Q2 FY26+26%+55%Q3 FY26
Latest (Q3 FY26): Y/Y +26%, Q/Q +55%.
Mission Produce: where the cash came from (+) and went (−), TTM to Q3 FY26Mission Produce: where the cash came from (+) and went (−), TTM to Q3 FY26Other financing$347MOther investing−$247MNet borrowing (+) / repaid (−)−$83.8MCapital spending−$43.6MOperating cash flow$41.3MBuybacks−$10.0MTaxes on employees’ shares−$2.5MCash drawn (+) / kept (−)−$1.7MAsset & business sales$300K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Mission Produce: profit against cash, quarter by quarterMission Produce: profit against cash, quarter by quarterNet incomeOperating cash flow$20.7M$38.0MQ4 FY24$6.2M−$1.2MQ1 FY25$3.0M−$11.8MQ2 FY25$14.5M$34.4MQ3 FY25$16.8M$67.2MQ4 FY25−$100K−$3.0MQ1 FY26−$7.4M−$18.0MQ2 FY26−$5.8M−$4.9MQ3 FY26
Latest (Q3 FY26): Net income −$5.8M, Operating cash flow −$4.9M.
Mission Produce: diluted shares by fiscal yearMission Produce: diluted shares by fiscal year64MFY2071MFY2171MFY2271MFY2371MFY2471MFY25
+12.1% since FY20: more shares outstanding (issuance, stock pay).
Mission Produce in its industry: growth against margin (6 companies, SIC 0700)Mission Produce in its industry: growth against margin (6 companies, SIC 0700)revenue growth, year over year →↑ operating marginmedian +1%median 4%BVDavey Tree Expert CoRYMGGROUCVATAVO (+26%, 0%)
Agricultural Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Mission Produce

Mission Produce, Inc. together with its consolidated subsidiaries (“Mission Produce” or the “Company,” “Registrant,” or “Issuer,” and generally referred to as “we” or “us”), is a global leader in the avocado industry. The Company’s expertise lies in the farming, packaging, marketing and distribution of avocados to food retailers, distributors and produce wholesalers worldwide. The Company procures avocados principally from California, Mexico and Peru. Through our various operating facilities, we grow, sort, pack, bag and ripen avocados and a small amount of other fruits for distribution to domestic and international markets. We report our results of operations in three operating segments which are also reportable segments:

In its own words, from its 10-K, filed Dec 18, 2025.

Mission Produce against its Agricultural Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +1%. Operating margin: 0.1% against the peers' median 4.1%.

CompanyQuarterRevenueY/YOp. margin
AVO Mission ProduceQ3 FY26$450M+26%0.1%
BV BrightView HoldingsQ3 FY26$718M+1%4.5%
Davey Tree ExpertQ2 2026$519M+1%8.2%
RYM RythmQ3 2026$23.9M+490%4.1%
GGROU Golden Growers CooperativeQ2 2026$14.9M-8%9.7%
BNC BNB StandardQ1 FY27$7.2M—-296.3%
CVAT Cavitation TechnologiesQ3 FY26$3K-98%n/m

Source: Mission Produce 10-Q on SEC EDGAR · CIK 1802974 · Agricultural Services

13F: who owns AVO and who is buying

Largest holders of AVO (13F)Largest holders of AVO (13F)Rubric Capital Management LP$70.5MBlackRock$56.3MDimensional Fund Advisors LP$48.1MFourth Sail Capital LP$46.9MVanguard Group$33.3MVanguard Capital Management LLC$28.3MAmerican Century Companies$19.1MGeode Capital Management, LLC$17.9MState Street$16.8MPlatform Wealth Management, LLC$12.3M
Funds' net buying of AVO by quarter (13F)Funds' net buying of AVO by quarter (13F)$5.6M2024-09−$13.0M2024-12$9.5M2025-03−$2.7M2025-06−$9.4M2025-09$3.5M2025-12$58.8M2026-03$161M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AVO

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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