Filing Flows › Lifeway Foods (LWAY) › Q1 2026 › vs Q1 2025
Lifeway Foods (LWAY) Q1 2026 vs Q1 2025 (year over year)
Lifeway Foods's revenue rose $16.9M (+37%) from $46.1M in Q1 2025 to $63.0M in Q1 2026. The biggest changes: Drinkable Kefirotherthan Pro Bugs +$17.0M (+45%); Cheese +$872K (+23%); Pro Bugs Kefir −$421K (-56%). Gross margin 27.5% against 23.9% (+3.6 pts).
Lifeway Foods, Q1 2026: revenue $63.0M (+37% year over year), operating margin 10.0%, net earnings $4.7M, operating cash flow $4.4M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 27.5% | 23.9% | +3.6 pts |
| Operating margin | 10.0% | 3.4% | +6.6 pts |
| Net margin | 7.4% | 7.7% | -0.3 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Drinkable Kefirotherthan Pro Bugs | $55.1M | $38.0M | $17.0M | +45% |
| Cheese | $4.7M | $3.8M | $872K | +23% |
| Cream and Other | $2.0M | $2.5M | −$410K | -17% |
| Drinkable Yogurt | $584K | $634K | −$50K | -8% |
| Pro Bugs Kefir | $325K | $746K | −$421K | -56% |
| Other Dairy | $280K | $390K | −$110K | -28% |
| Revenue | $63.0M | $46.1M | $16.9M | +37% |
| Gross profit | $17.4M | $11.0M | $6.3M | +57% |
| Cost of revenue | $45.7M | $35.1M | $10.6M | +30% |
| Operating profit | $6.3M | $1.6M | $4.8M | +302% |
| Operating expenses | $11.0M | $9.5M | $1.6M | +17% |
| Pre-tax earnings | $6.3M | $5.0M | $1.3M | +26% |
| Sales & marketing | $6.2M | $4.7M | $1.5M | +32% |
| General & admin | $4.7M | $4.6M | $75K | +2% |
| Other operating costs | $135K | $135K | $0 | 0% |
| Net earnings | $4.7M | $3.5M | $1.1M | +32% |
| Income tax | $1.6M | $1.4M | $157K | +11% |
| Depreciation & amortization | $1.1M | $937K | $118K | +13% |
| Share-based compensation | $548K | $326K | $222K | +68% |
| Working capital & other | $1.9M | $5.0M | −$3.1M | -62% |
| Operating cash flow | $4.4M | −$150K | $4.5M | — |
| Capital expenditures | $11.0M | $2.9M | $8.2M | +285% |
| Negative free cash flow (OCF − capex) | $6.7M | $3.0M | $3.6M | +121% |
Questions
How much did Lifeway Foods's revenue grow year over year in Q1 2026?
Lifeway Foods's revenue rose $16.9M (+37%) from $46.1M in Q1 2025 to $63.0M in Q1 2026.
What drove Lifeway Foods's revenue change in Q1 2026?
Drinkable Kefirotherthan Pro Bugs +$17.0M (+45%); Cheese +$872K (+23%); Pro Bugs Kefir −$421K (-56%).