Filing Flows › Freshpet (FRPT) › Q1 2026
Freshpet (FRPT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Freshpet (FRPT) reported revenue of $298M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +4% from the quarter before. Operating margin was 1.5%, net earnings $48.5M (16.3% of revenue).
Freshpet, Q1 2026: revenue $298M (+13% year over year), operating margin 1.5%, net earnings $48.5M, operating cash flow $40.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $298M | +4% | +13% |
| Gross profit | $121M | -2% | +16% |
| Operating profit | $4.3M | -90% | — |
| Net earnings | $48.5M | +43% | — |
| Operating cash flow | $40.3M | -27% | +739% |
| Free cash flow | $12.7M | +519% | — |
What changed
Revenue was $297.6M in Q1 2026, up 13% year over year and up 4% from the previous quarter.
Gross margin was 40.5%, up 1.1 points from Q1 2025. Operating profit was $4.3M, a 1.5% margin (up 5.8 points year over year). Operating expenses grew 1% against revenue growth of 13%. Net earnings were $48.5M. The effective tax rate was 26.1%. Non-operating items added $61.3M, 93% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $40.3M (up 739% year over year), 83% of net earnings. Non-cash charges added back $25.0M of depreciation and amortization and $9.1M of share-based compensation. Working capital and other items used $42.3M. Capital expenditures of $27.6M left free cash flow of $12.7M.
Questions
What was Freshpet's revenue in the first quarter 2026?
Freshpet (FRPT) reported revenue of $298M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +4% from the quarter before.
Was Freshpet profitable in the first quarter 2026?
Operating profit was $4.3M (1.5% of revenue) and net earnings $48.5M.
Source: Freshpet 10-Q on SEC EDGAR.