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Iovance Biotherapeutics, Inc. (IOVA) Q1 2026 Earnings Call Transcript

Key Takeaways IOVA posted Q1 revenue growth of 45%, but sales missed estimates and shares fell 13%.Amtagvi generated about $60M in Q1 sales as referrals and earlier treatment use improved.Iovance expects 2026 product revenues of $350M-$370M, led primarily by Amtagvi. Iovance Biotherapeutics (IOVA - Free Report) incurred a first-quarter 2026 loss of 19 cents per share, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company reported a loss of 36 cents.

Total revenues for the quarter rose 45% year over year to $71.4 million, generated entirely from the sales of the company’s two marketed drugs. The top line missed the Zacks Consensus Estimate of $77.1 million.

IOVA's Earnings in DetailIovance currently has two marketed drugs in its portfolio — the IL-2 product Proleukin and the TIL therapy Amtagvi. While Proleukin is approved to treat metastatic renal cell carcinoma and metastatic melanoma in adults, Amtagvi is approved for the advanced melanoma indication.

The company recorded approximately $60 million from Amtagvi sales during the quarter, up 38% from the year-ago period. Demand trends improved through the quarter, with management pointing to accelerating referrals and earlier use in the treatment pathway as awareness builds across treatment centers. Yet, the drug’s sales missed the Zacks Consensus Estimate and our model estimate, each pegged at $70 million.

Proleukin sales rose 91% to about $11 million during the quarter, benefiting from its use alongside Amtagvi. The figure also missed the Zacks Consensus Estimate and our model estimate, both pegged at $23 million.

Shares of Iovance plunged 13% yesterday, likely due to the soft sales performance of both therapies.

Still, the stock has rallied 30% so far this year against the industry’s 2% decline.

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IOVA Reduces Operating Costs While Extending Cash RunwayResearch & development expenses totaled $62.5 million in the quarter, down 12% from the year-ago period, reflecting ongoing operational efficiencies alongside pipeline expansion efforts.

Selling, general and administrative expenses declined 11% to about $39 million. Management positioned the cost structure as improving alongside manufacturing centralization and internal efficiency initiatives, aimed at supporting a clearer path to profitability as revenues scale.

As of March 31, 2026, Iovance had cash, cash equivalents and investments of $319 million compared with $303 million in the previous quarter. Management now expects its existing cash balance to fund operations into 2028 (previously: third-quarter 2027), driven by ongoing cost discipline alongside revenue growth and improving manufacturing leverage.

Iovance discussed its approach to financing on the call, describing its use of the at-the-market facility as opportunistic and aimed at limiting the overall cost of capital while it drives toward breakeven. The company said it continues to evaluate non-dilutive options as it scales commercial execution and advances multiple trials.

IOVA Issues 2026 OutlookIovance expects product revenues for 2026 to be between $350 million and $370 million, with the range described as predominantly fueled by Amtagvi. The company anticipates product revenues for second-quarter 2026 in the range of $86-$88 million, which includes Amtagvi sales between $79 million and $81 million.

On the earnings call, management attributed the tighter quarterly outlook to greater operational visibility, citing improved forecasting around treatment-center activity and manufacturing execution. Leadership also said the commercial organization is focused on expanding capacity and onboarding additional centers over time to support growth through the year.

Updates on IOVA’s Pipeline & Other NewsRegulatory applications for Amtagvi in the melanoma indication are under review, with potential approvals in Australia and Switzerland later this year. Last year, IOVA voluntarily withdrew its regulatory filing in the European Union due to a lack of alignment with the EMA on the clinical data supporting the submission. The company is in discussions with the agency to resubmit a regulatory filing in 2026.

Iovance continues to advance its development programs for Amtagvi. It is evaluating the drug in combination with Merck’s Keytruda in the phase III TILVANCE-301 study as a potential treatment for frontline advanced melanoma. This study will serve as a confirmatory study seeking full approval for Amtagvi in the melanoma indication.

Beyond melanoma, Iovance is developing Amtagvi for other cancer indications. Alongside earnings results, the company reported initial data from the mid-stage IOV-END-201 study evaluating the therapy in previously treated metastatic serous endometrial cancer. Data from the study showed that Amtagvi-treated patients achieved a confirmed objective response rate of 40% and a 100% disease control rate in the first five evaluable patients. Management characterized the setting as an area of high unmet need and said it plans to engage the FDA on an expedited approval pathway.

Amtagvi is being evaluated in separate mid-stage studies for cervical cancer and non-small cell lung cancer indications.

IOVA’s Zacks RankIovance currently carries a Zacks Rank #3 (Hold).

Our Key Picks Among Biotech StocksSome better-ranked stocks from the sector are Amarin Corporation (AMRN - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have improved from $5.50 to $4.64. AMRN shares have risen 6% year to date.

Amarin’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 50.02%.

Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 10% year to date.

Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.

May 22, 2026 17:15 ET  | Source: Iovance Biotherapeutics, Inc.

SAN CARLOS, Calif., May 22, 2026 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) ("Iovance" or the “Company”), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer, today announced that on May 21, 2026 (the “Date of Grant”), the Company approved the grant of inducement stock options covering an aggregate of 93,340 shares of Iovance’s common stock to thirteen new, non-executive employees.

The awards were granted under Iovance’s Amended and Restated 2021 Inducement Plan, which provides for the granting of equity awards to new employees of Iovance by the Company’s compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options granted as referenced in this press release has an exercise price of $3.70, the closing price of Iovance’s common stock on the Date of Grant. Each stock option vests over a three-year period, with one-third of the shares vesting on the first anniversary of the employee’s start date (the “First Vesting Date”) and the remaining shares vesting in eight quarterly installments over the next two years, commencing with the first quarter following the First Vesting Date, subject to continued employment with the Company through the applicable vesting dates.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics, Inc. aims to be the global leader in innovating, developing, and delivering tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer. We are pioneering a transformational approach to cure cancer by harnessing the human immune system’s ability to recognize and destroy diverse cancer cells in each patient. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance’s Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life for patients with cancer. For more information, please visit www.iovance.com.

Amtagvi® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners.

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements” of Iovance Biotherapeutics, Inc. (hereinafter referred to as the “Company,” “we,” “us,” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Without limiting the foregoing, we may, in some cases, use terms such as “predicts,” “believes,” “potential,” “achievable,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,” “can,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments, and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

CONTACTS

Investors
[email protected]
650-260-7120 ext. 150

Media
[email protected]
650-260-7120 ext. 150

Next-Generation Platform Expands into Solid Tumors 
Representing 100,000+ U.S. Deaths Annually

SAN CARLOS, Calif., June 01, 2026 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a commercial biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer, today announced allowance to proceed from the U.S. Food and Drug Administration (FDA) for the investigational new drug (IND) application for a Phase 1/2 basket trial of IOV-5001, a next-generation interleukin-12 (IL-12) tethered TIL therapy.

The Phase 1/2 trial will begin enrolling in the second half of 2026 to investigate the safety and efficacy of a one-time IOV-5001 treatment regimen without the use of IL-2. Cohorts include advanced colorectal, triple-negative, and estrogen receptor-low breast cancers, as well as other highly prevalent solid tumors representing more than 100,000 U.S. deaths annually.1

IOV-5001 is engineered to express IL-12 only within the tumor to enhance efficacy, particularly in cancers caused by immunologically cold tumors, and to tether IL-12 to the cell surface to prevent release into the bloodstream to optimize safety. IOV-5001 is designed to safely deliver significantly higher cell doses and improve upon an earlier secreted IL-12 TIL therapy that showed a 63% confirmed objective response rate.2

“Proceeding into the clinical trial of IOV-5001 is a defining moment as we extend our TIL platform across additional prevalent solid tumors,” said Frederick Vogt, Ph.D., J.D., Interim Chief Executive Officer and President of Iovance. “By tethering IL-12 to the TIL cell surface and targeting its activity inside the tumor, IOV-5001 is designed to activate cold tumors and open an entirely new frontier of massive opportunities for TIL cell therapy. We look forward to beginning patient enrollment in the second half of 2026.”

1. Surveillance, Epidemiology, and End Results Program Cancer Stat Facts (accessed May 2026).
2. Zhang L, Rosenberg SA, et al, Clin Cancer Res 2015;21(10):2278–2288.

About IOV-5001
IOV-5001 is an investigational second-generation TIL therapy engineered to express IL-12 only inside the tumor, where it is anchored to the TIL cell surface rather than released into the bloodstream. This design is intended to deliver the antitumor benefit seen with earlier IL-12 TIL therapies while avoiding systemic toxicity. In preclinical studies, IOV-5001 showed stronger antitumor activity and a healthier, more durable T cell profile than unmodified TIL therapies.

About Iovance Biotherapeutics, Inc. 
Iovance Biotherapeutics, Inc. aims to be the global leader in innovating, developing, and delivering TIL therapies for patients with cancer. We are pioneering a transformational approach to cure cancer by harnessing the human immune system’s ability to recognize and destroy diverse cancer cells in each patient. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance’s Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life for patients with cancer. For more information, please visit www.iovance.com.

Amtagvi® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners.

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements” of Iovance Biotherapeutics, Inc. (hereinafter referred to as the “Company,” “we,” “us,” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Without limiting the foregoing, we may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,” “can,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments, and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and include, but are not limited to, the following substantial known and unknown risks and uncertainties inherent in our business: the risks related to our ability to successfully commercialize our products; the acceptance by the market of our products and product candidates, if approved, and their potential pricing and/or reimbursement by payors, and whether such acceptance is sufficient to support continued commercialization or development of our products or product candidates; the risk regarding our ability to manufacture our therapies at our Iovance Cell Therapy Center facility, including the risk that our ability to increase manufacturing capacity at our facility may adversely affect our commercial launch; the risk that the successful development or commercialization of our products may not generate sufficient revenue from product sales, and we may not become profitable in the near term, or at all; the risks related to the timing of and our ability to successfully develop, submit, obtain, or maintain regulatory authority approval of our product candidates; whether clinical trial results from our pivotal studies and cohorts, and meetings with regulatory authorities may support registrational studies and subsequent approvals by regulatory authorities, including the risk that the planned registrational trial in advanced sarcomas may not support approval; preliminary and interim clinical results, which may include efficacy and safety results, from ongoing clinical trials or cohorts may not be reflected in the final analyses of our ongoing clinical trials or subgroups within these trials or in other prior trials or cohorts; the risk that we may be required to conduct additional clinical trials or modify ongoing or future clinical trials based on feedback from regulatory authorities; the risk that our interpretation of the results of our clinical trials or communications with regulatory authorities may differ from the interpretation of such results or communications by such regulatory authorities; the risk that clinical data from ongoing clinical trials of Amtagvi will not continue or be repeated in ongoing or planned clinical trials or may not support regulatory approval or renewal of authorization; the risk that unanticipated expenses may decrease our estimated cash balances and forecasts and increase our estimated capital requirements; the risk that we may not be able to recognize revenue for our products; the risk that Proleukin revenues, and other factors such as the number of authorized treatment centers, may not serve as a leading indicator for Amtagvi revenues; the risks regarding our anticipated operating and financial performance, including our financial guidance and projections; the effects of global and domestic geopolitical factors or public health events; and other factors, including general economic conditions and regulatory developments, not within our control. Any financial guidance provided in this press release assumes the following: no material change in our ability to manufacture our products; no material change in payor coverage; no material change in revenue recognition policies; no new business development transactions not completed as of the period covered by this press release; and no material fluctuation in exchange rates.

CONTACTS 

Investors
[email protected]
650-260-7120 ext. 150

Media
[email protected] 
650-260-7120 ext. 150

Iovance Biotherapeutics (NASDAQ:IOVA) said it has obtained clearance of an Investigational New Drug application for IOV-5001, extending its next-generation cell therapy platform into solid tumors the company said account for more than 100,000 US deaths a year.

The clearance allows Iovance to begin clinical work on IOV-5001 and marks the platform's move beyond its current focus and into the solid tumor setting.

The company framed the expansion around the size of the unmet need, pointing to the tens of thousands of annual US deaths in the targeted tumor types.
An IND clearance is the regulatory step that permits a company to start human testing of an experimental therapy in the United States. Carrying its next-generation platform into solid tumors widens the range of cancers Iovance's cell therapy approach could address and adds IOV-5001 to the programs the company is advancing toward the clinic.

Iovance did not detail the trial design or timing in the announcement.

Iovance Biotherapeutics is a commercial-stage biotechnology company developing cell therapies for the treatment of cancer.

First T cell therapy for a solid tumor cancer and first treatment option approved in Australia for advanced melanoma after anti-PD-1 and targeted therapy

SAN CARLOS, Calif., June 03, 2026 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a commercial biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer, today announced that the Therapeutic Goods Administration (TGA) of Australia granted approval with conditions of Amtagvi® (lifileucel), a tumor-derived autologous T cell immunotherapy, for previously treated advanced (metastatic or unresectable) melanoma. Amtagvi is indicated for the treatment of adult patients with unresectable or metastatic melanoma previously treated with a PD-1 blocking antibody, and if BRAF V600 mutation positive, a BRAF inhibitor with or without a MEK inhibitor.

“This approval in Australia is our third marketing authorization for Amtagvi and marks a significant step forward for Iovance in the country with the highest rate of melanoma globally,” said Frederick Vogt, Ph.D., J.D., Interim Chief Executive Officer and President of Iovance. “We are in the process of authorizing our first Australian treatment center as we advance our expansion strategy for Amtagvi in additional markets with a high prevalence of advanced melanoma.”

Australia has the highest rate of melanoma globally, with an estimated 17,000 new cases diagnosed each year and more than 1,500 deaths annually.1,2 Similar to the U.S. and other global markets, there is a significant need for new therapies for patients with advanced melanoma.

TGA granted approval based on safety and efficacy results from the global, multicenter C-144-01 trial investigating Amtagvi in patients with advanced melanoma previously treated with anti-PD-1 therapy and targeted therapy, if applicable.

About the C-144-01 Clinical Trial
C-144-01 is a global, multicenter Phase 2 study in which patients received lifileucel monotherapy. The study enrolled patients with metastatic melanoma who were previously treated with at least one systemic therapy, including a PD-1 blocking antibody, and, if BRAF V600 mutation positive, a BRAF inhibitor or a BRAF inhibitor with a MEK inhibitor. Efficacy was established on the basis of objective response rate (ORR) and duration of response (DOR) by Independent Review Committee (IRC) per Response Evaluation Criteria in Solid Tumors (RECIST) version 1.1. The detailed results of C-144-01 were published in the Journal for ImmunoTherapy of Cancer in 2022. A five-year analysis of C-144-01 was published in the Journal of Clinical Oncology in 2025.

Iovance is investigating Amtagvi in frontline advanced melanoma in the Phase 3 trial, TILVANCE-301 (NCT05727904), as well as in additional solid tumor types.

About Iovance Biotherapeutics, Inc. 

Iovance Biotherapeutics, Inc. aims to be the global leader in innovating, developing, and delivering tumor infiltrating lymphocyte (TIL) therapies for patients with cancer. We are pioneering a transformational approach to cure cancer by harnessing the human immune system’s ability to recognize and destroy diverse cancer cells in each patient. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance’s Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life for patients with cancer. For more information, please visit www.iovance.com.

Amtagvi ® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners.

1. Cancer Australia, Melanoma of the Skin Statistics, https://www.canceraustralia.gov.au/cancer-types/melanoma-skin/melanoma-skin-statistics (Accessed March 2026)
2. Melanoma Institute Australia, Melanoma Facts, https://melanoma.org.au/about-melanoma/melanoma-facts/ (Accessed March 2026)

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements” of Iovance Biotherapeutics, Inc. (hereinafter referred to as the “Company,” “we,” “us,” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Without limiting the foregoing, we may, in some cases, use terms such as “predicts,” “believes,” “potential,” “achievable,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,” “can,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments, and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and include, but are not limited to, the following substantial known and unknown risks and uncertainties inherent in our business: the risks related to our ability to successfully commercialize our products; the acceptance by the market of our products and product candidates, if approved, and their potential pricing and/or reimbursement by payors, and whether such acceptance is sufficient to support continued commercialization or development of our products or product candidates; the risk regarding our ability to manufacture our therapies at our Iovance Cell Therapy Center facility, including the risk that our ability to increase manufacturing capacity at our facility may adversely affect our commercial launch; the risk that the successful development or commercialization of our products may not generate sufficient revenue from product sales, and we may not become profitable in the near term, or at all; the risks related to the timing of and our ability to successfully develop, submit, obtain, or maintain regulatory authority approval of our product candidates; whether clinical trial results from our pivotal studies and cohorts, and meetings with regulatory authorities may support registrational studies and subsequent approvals by regulatory authorities, including the risk that the planned registrational trial in advanced sarcomas may not support approval; preliminary and interim clinical results, which may include efficacy and safety results, from ongoing clinical trials or cohorts may not be reflected in the final analyses of our ongoing clinical trials or subgroups within these trials or in other prior trials or cohorts; the risk that we may be required to conduct additional clinical trials or modify ongoing or future clinical trials based on feedback from regulatory authorities; the risk that our interpretation of the results of our clinical trials or communications with regulatory authorities may differ from the interpretation of such results or communications by such regulatory authorities; the risk that clinical data from ongoing clinical trials of Amtagvi will not continue or be repeated in ongoing or planned clinical trials or may not support regulatory approval or renewal of authorization; the risk that unanticipated expenses may decrease our estimated cash balances and forecasts and increase our estimated capital requirements; the risk that we may not be able to recognize revenue for our products; the risk that Proleukin revenues, and other factors such as the number of authorized treatment centers, may not serve as a leading indicator for Amtagvi revenues; the risks regarding our anticipated operating and financial performance, including our financial guidance and projections; the effects of global and domestic geopolitical factors or public health events; and other factors, including general economic conditions and regulatory developments, not within our control. Any financial guidance provided in this press release assumes the following: no material change in our ability to manufacture our products; no material change in payor coverage; no material change in revenue recognition policies; no new business development transactions not completed as of the period covered by this press release; and no material fluctuation in exchange rates.

CONTACTS 

Investors
[email protected]
650-260-7120 ext. 150

Media
[email protected] 
650-260-7120 ext. 150

Key Takeaways HIMS builds a unified virtual-care ecosystem spanning telehealth, prescriptions and wellness products.Hims & Hers leans on subscriptions and owned pharmacies, labs and manufacturing to boost speed and control.TDOC and LFMD are expanding integrated virtual-care platforms, adding AI support and prescription access. Hims & Hers Health, Inc. (HIMS - Free Report) continues to strengthen its position as a vertically integrated virtual-care platform by combining technology, provider networks, pharmacy infrastructure and recurring patient relationships into a unified healthcare ecosystem. Through its digital-first platform, the company enables consumers to access telehealth consultations, ongoing clinical support, prescription therapies and wellness products across a growing range of health categories. HIMS’ affiliated medical groups and healthcare providers deliver care through the platform, while integrated operational capabilities help support continuity of care and long-term patient engagement.

The company’s business model is increasingly centered on recurring relationships, with subscription-based offerings driving patient retention and providing ongoing access to treatments and provider support. Hims & Hers has also continued to expand its vertically integrated infrastructure, investing in wholly owned pharmacies, laboratory testing facilities and manufacturing capabilities to enhance fulfillment efficiency, quality control and speed to market.

Recent developments further highlight this strategy. In March, HIMS launched a membership program for its weight-loss offerings that provides eligible customers access to weight-loss medications and unlimited support from its provider network. The company is also pursuing international expansion, including its planned acquisition of Eucalyptus, a digital health platform operating across multiple international markets, to broaden access to personalized virtual care.

TDOC & LFMD Advancing Integrated Virtual Care PlatformsTeladoc Health, Inc. (TDOC - Free Report) operates a vertically integrated virtual-care platform that combines proprietary technology, a large provider network, chronic-care and mental-health services and long-term patient relationships to deliver coordinated healthcare at scale. Teladoc Health leverages its Prism care delivery platform and AI-powered Pulse intelligence engine to enhance care delivery, risk stratification and clinical workflows, while TDOC’s integrated model supports ongoing engagement across urgent, chronic and behavioral health needs. Recent initiatives include the enhanced 24/7 Care service launched in January and the recent expansion of Teladoc Health’s services through Walmart’s Better Care Services platform, further broadening access to virtual care and prescriptions.

LifeMD, Inc. (LFMD - Free Report) is a vertically integrated virtual-care company that combines a proprietary technology platform, a 50-state affiliated provider network, pharmacy infrastructure and AI-enabled operational systems to deliver longitudinal healthcare services and prescriptions at scale. LFMD generates the vast majority of its revenue from recurring subscriptions, supporting ongoing patient relationships across primary care, weight management, women’s health and behavioral health. It is increasingly embedding AI into clinical workflows and care delivery, while recent launches include Novo Nordisk’s Wegovy subscription program and Eli Lilly’s Foundayo oral GLP-1 offering through the LifeMD platform, further expanding access to ongoing, clinically supported treatment.

HIMS’ Price Performance, Valuation and EstimatesShares of Hims & Hers have lost 21.9% year to date compared with the industry’s decline of 20.5%.

Image Source: Zacks Investment Research

HIMS’ forward 12-month P/S of 1.8X is lower than the industry’s average of 3.4X and its five-year median of 2.6X. It has a Value Score of D.

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The Zacks Consensus Estimate for HIMS’ 2026 earnings per share suggests a 149.1% plunge compared with 2025.

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Hims & Hers currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

SAN FRANCISCO--(BUSINESS WIRE)--Hims & Hers Health, Inc. (NYSE: HIMS) has completed its acquisition of Eucalyptus, advancing its position as the world's largest consumer health platform. Building on the earlier acquisitions of ZAVA and Livewell, Hims & Hers now has a leading presence across the US, UK, Australian, and Canadian markets, with a growing presence in France, Germany, Ireland, Spain, and Japan. Continuing to expand internationally will enable Hims & Hers to lead the next.

TOKYO--(BUSINESS WIRE)--Hims & Hers Health, Inc. has completed its acquisition of Eucalyptus, the parent company of Juniper, marking a significant milestone in the company's global growth and its formal entry into Japan. This milestone puts the full weight of Hims & Hers' technology, data, and clinical infrastructure behind a platform that supports weight management care for people in Japan, a market the company approaches with deep respect for its distinct healthcare values and the tru.

BERLIN--(BUSINESS WIRE)--Hims & Hers Health, Inc. has completed its acquisition of Eucalyptus, the parent company of Juniper, advancing its position as the world's largest consumer health platform. In Germany, the closing strengthens Juniper's comprehensive, clinically rigorous, weight management offering with the technology, data, and infrastructure of Hims & Hers behind it. Since launching in Germany in March 2023, Juniper has grown into a trusted partner for customers seeking evidenc.

Hims & Hers Health Inc. (HIMS, Financials) completed its acquisition of Eucalyptus, giving the telehealth company a larger international footprint in Australia, Canada and Japan.

Eucalyptus owns several digital health brands, including Juniper, Pilot, Kin and Software. The deal gives Hims & Hers an established platform in those markets instead of forcing the company to build from the ground up.

The transaction calls for Hims & Hers to pay about $240 million in cash. For a company still focused on expanding its customer base, the acquisition adds both reach and local operating experience.

The move also comes as telehealth companies look for growth beyond the U.S. market. Hims & Hers has built its business around direct-to-consumer health services, and Eucalyptus gives it access to customers already using online care platforms.

For investors, the key issue is execution. International expansion can bring new revenue opportunities, but it also adds integration work, regulatory complexity and marketing costs.

Hims & Hers Health, Inc. (NYSE: HIMS), the leading health and wellness platform, today announced Dr. Anant Vinjamoori is joining as the Chief Medical Officer of the Hims brand. As the company reimagines how everyone can access proactive, comprehensive care that helps them feel great, Dr. Vinjamoori will provide the clinical guidance that shapes the next phase of the Hims brand across sexual health, hormone health, dermatology, weight loss, and mental health, as well as emerging categories like longevity medicine and peptide therapy. He joins a team of medical experts at Hims & Hers led by Global Chief Medical Officer, Dr. Pat Carroll.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604732825/en/

An expert in longevity medicine and preventive healthcare, Vinjamoori joins Hims & Hers to help more men feel great at every stage of life

Dr. Vinjamoori has more than a decade of clinical and executive experience in internal medicine, primary care, and longevity. He has led both product and medical teams at prominent health technology companies, including Virta Health and Modern Age. He is a leading expert in preventive and longevity care, combining deep clinical experience with command of the latest diagnostic and therapeutic technologies—from advanced diagnostic testing to targeted therapies such as peptides—to support recovery, cognition, sleep, and body composition. As the founder of Next Generation Medicine, he provides best-in-class medical education and AI technology to help clinicians learn, implement, and scale evidence-based, clinically rigorous longevity medicine in their practices. Dr. Vinjamoori has also served as an advisor to consumer wellness companies like Superpower and Midi Health. He is the author of several peer-reviewed publications, and he received his MD from Harvard Medical School and his MBA from Harvard Business School.

“Men are increasingly seeking care that goes beyond reactive treatment – they want to feel their best at every age, and they are paying close attention to the science that makes that possible,” said Dr. Anant Vinjamoori. “This is the right time to increase access to high-quality, science-driven care that helps men feel like the best versions of themselves. Hims has the scale, consumer trust, and vision to do it right. I can’t wait to get started.”

“As medicine advances, we have a responsibility to bring our customers the latest innovations in treatments, services, and research,” said Dr. Pat Carroll, Global Chief Medical Officer of Hims & Hers. “Dr. Vinjamoori has been at the leading edge of helping people feel great at every stage of life, and he brings the perfect combination of clinical expertise and dedication to consumer access to Hims & Hers. I’m excited to see the deep impact he will have on our Hims customers.”

The team of medical leaders at Hims & Hers has more than 100 years of combined experience across weight loss, sexual health, hormone health, mental health, dermatology, and primary care. These physicians are the clinical backbone of the company, providing critical medical expertise that ensures the care available through Hims & Hers is rooted in the latest research and clinical guidelines.

About Hims & Hers Health, Inc.

Hims & Hers is the leading health and wellness platform on a mission to help the world feel great through the power of better health. We believe how you feel in your body and mind transforms how you show up in life. That’s why we’re building a future where nothing stands in the way of harnessing this power. Hims & Hers normalizes health & wellness challenges—and innovates on their solutions—to make feeling happy and healthy easy to achieve. No two people are the same, so the company provides access to personalized care designed for results. For more information, please visit www.hims.com and www.forhers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260604732825/en/

Hims & Hers Health, Inc. (HIMS - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this company have returned -7.4%, compared to the Zacks S&P 500 composite's +1.9% change. During this period, the Zacks Medical Info Systems industry, which Hims & Hers Health falls in, has lost 0.4%. The key question now is: What could be the stock's future direction?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Hims & Hers Health is expected to post a loss of $0.02 per share for the current quarter, representing a year-over-year change of -111.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -125.7%.

The consensus earnings estimate of -$0.26 for the current fiscal year indicates a year-over-year change of -149.1%. This estimate has changed -92.4% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $0.49 indicates a change of +289.5% from what Hims & Hers Health is expected to report a year ago. Over the past month, the estimate has changed -30.2%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Hims & Hers Health.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Hims & Hers Health, the consensus sales estimate for the current quarter of $689.29 million indicates a year-over-year change of +26.5%. For the current and next fiscal years, $2.91 billion and $3.37 billion estimates indicate +23.8% and +16% changes, respectively.

Last Reported Results and Surprise HistoryHims & Hers Health reported revenues of $608.1 million in the last reported quarter, representing a year-over-year change of +3.8%. EPS of -$0.18 for the same period compares with $0.2 a year ago.

Compared to the Zacks Consensus Estimate of $619.62 million, the reported revenues represent a surprise of -1.86%. The EPS surprise was -550%.

Over the last four quarters, the company surpassed EPS estimates just once. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Hims & Hers Health is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Hims & Hers Health. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.

A month has gone by since the last earnings report for Hims & Hers Health, Inc. (HIMS - Free Report) . Shares have added about 15.8% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Hims & Hers Health due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Hims & Hers Health, Inc. before we dive into how investors and analysts have reacted as of late.

Hims & Hers Post Q1 Earnings Miss, Gross Margin DownHims & Hers Health reported quarterly adjusted loss per share of 18 cents in first-quarter 2026, against the year-ago period’s adjusted earnings per share (EPS) of 20 cents and the Zacks Consensus Estimate of EPS of 4 cents.

HIMS’ Revenues in DetailHims & Hers registered revenues of $608.1 million in the first quarter, up 3.8% year over year. However, the figure lagged the Zacks Consensus Estimate by 1.9%.

Solid revenues from the Rest of the World segment drove the top line.

Hims & Hers’ Geographical ResultsIn the first quarter of 2026, revenues in the United States declined 8.4% year over year to $529.9 million.

Rest of the World revenues grossed $78.2 million, up from the year-ago quarter’s $7.3 million.

During the reported quarter, subscribers were 2.6 million, up 9.2% year over year.

Monthly online revenue per average subscriber decreased 5.9% year over year to $80 in the first quarter. Per management, the decrease was primarily due to the shift to shorter shipping cadences for certain of HIMS’ offerings.

HIMS’ Margin AnalysisIn the first quarter of 2026, Hims & Hers’ gross profit decreased 7.9% year over year to $396.8 million. The gross margin contracted 825 basis points (bps) to 65.2%.

Marketing expenses decreased 3.9% year over year to $222 million, while technology and development expenses jumped 56.9% year over year to $46.9 million. General and administrative expenses surged 125.6% year over year to $109.7 million, while operations and support expenses increased 53.1% year over year to $96.5 million. Operating expenses of $475.1 million increased 27.4% year over year.

Operating loss totaled $78.3 million against the year-ago quarter’s operating profit of $57.9 million.

Hims & Hers’ Financial PositionHims & Hers exited first-quarter 2026 with cash and cash equivalents and short-term investments of $750.9 million compared with $577.5 million at the end of 2025.

Net cash provided by operating activities at the end of first-quarter 2026 was $89.4 million compared with $109.1 million a year ago.

HIMS’ OutlookHims & Hers has provided its revenue outlook for the second quarter and raised the same for 2026.

The company projects revenues for the second quarter of 2026 in the range of $680 million to $700 million, reflecting an uptick of 25%-28% year over year.

For the full year, HIMS now projects revenues in the range of $2.8 billion to $3 billion (representing growth of 19%-28% from 2025 levels), up from the prior outlook of $2.7 billion to $2.9 billion (representing growth of 15%-24% from 2025 levels).

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -125.7% due to these changes.

VGM ScoresCurrently, Hims & Hers Health has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock has a grade of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Hims & Hers Health has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry PlayerHims & Hers Health belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, 10x Genomics (TXG - Free Report) , has gained 46.2% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

10x Genomics reported revenues of $150.84 million in the last reported quarter, representing a year-over-year change of -2.6%. EPS of -$0.10 for the same period compares with -$0.36 a year ago.

For the current quarter, 10x Genomics is expected to post a loss of $0.23 per share, indicating a change of -182.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -6.5% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for 10x Genomics. Also, the stock has a VGM Score of B.

Hims & Hers Health, Inc. (HIMS - Free Report) closed the most recent trading day at $27.71, moving -4.38% from the previous trading session. This change lagged the S&P 500's 1.62% loss on the day. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.

The company's stock has climbed by 15.78% in the past month, exceeding the Medical sector's gain of 5.04% and the S&P 500's loss of 0.03%.

The investment community will be closely monitoring the performance of Hims & Hers Health, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.02, marking a 111.76% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $689.29 million, indicating a 26.52% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.26 per share and revenue of $2.91 billion. These totals would mark changes of -149.06% and +23.78%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Hims & Hers Health, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 92.39% lower within the past month. Currently, Hims & Hers Health, Inc. is carrying a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Hims & Hers Health, Inc. currently has a Forward P/E ratio of 724.5. This expresses a premium compared to the average Forward P/E of 25.06 of its industry.

We can additionally observe that HIMS currently boasts a PEG ratio of 54.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical Info Systems stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.

The Medical Info Systems industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Opening Bid - May 7th, 2026 == — Facebook: https://www.facebook.com/yahoofinance — X/Twitter: https://x.com/YahooFinance — Instagram: https://www.instagram.com/yahoofinance/ — TikTok: https://www.tiktok.com/@yahoofinance — LinkedIn: https://www.linkedin.com/company/yahoo-finance https://finance.yahoo.com/

Toronto, Ontario--(Newsfile Corp. - May 8, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce that our multi-unit franchisee David Lamph has secured his 8th Heal location in the City of Vaughan, Ontario. This location further advances Heal's disciplined, asset-light growth strategy as the brand continues to expand across Ontario's high-growth urban and suburban markets. Heal Wellness is a fast-growing quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies, built around clean ingredients and a better-for-you lifestyle.

Happy Belly 1

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"The securing of our newest location in the City of Vaughan reflects our continued focus on expanding Heal into strong, community-oriented markets with favourable demographic and high-traffic fundamentals," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "Vaughan, Ontario, is one of Canada's fastest-growing cities and a major economic hub within York Region, supported by a growing residential population, a dynamic business community, strong commuter patterns, and access to key transportation networks. These characteristics create a compelling environment for Heal Wellness as we continue to bring our clean-ingredient, better-for-you offering to high-density suburban markets across the GTA."

Located in the heart of the Greater Toronto Area, Vaughan brings together established family neighbourhoods, employment corridors, retail destinations, sports and recreation amenities, and a young, active customer base. This makes it a natural fit for Heal's acai and smoothie wellness brand, serving residents, professionals, athletes, busy parents, students, and visitors seeking convenient, health-forward food options. These characteristics align well with Heal's functional, grab-and-go offering and support sustainable, long-term unit performance.

Heal Wellness continues to gain momentum as consumer demand for wellness-focused QSR concepts accelerates across major Canadian cities. With a scalable format, strong unit economics, and an expanding network of experienced franchise partners, Heal is well positioned to deepen its presence across Ontario while expanding into additional Canadian and U.S. markets.

Happy Belly 2

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"Heal Wellness continues to expand rapidly across Canada and into the United States, solidifying its position as a leading açaí and smoothie bowl brand. With 39 locations open and more than 169 in development, Heal contributes to Happy Belly's broader portfolio of 686 contractually committed retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. Our predictable and disciplined growth engine continues to deliver measurable results as we expand our brands across Canada and the U.S. to create long-term value for our shareholders."

"We are just getting started", said Sean Black.

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296625

Source: Happy Belly Food Group Inc.

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Toronto, Ontario--(Newsfile Corp. - May 11, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands is pleased to announce that, further to its May 28th, 2025 news release announcing the signing of a franchise agreement for Heal Wellness in the province of Nova Scotia, Heal Wellness ("Heal"), its fresh smoothie bowls, acai bowls, and smoothies quick-serve restaurant ("QSR") brand, has secured a real estate location in the City of Halifax, Nova Scotia. This location represents the first of two planned Heal Wellness locations in Halifax for multi-unit franchisee Wade Bruce and is expected to open in Q3 2026.

Figure 1

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Halifax, Nova Scotia is an attractive market for Heal Wellness, supported by strong population growth, a young and active demographic profile, and a growing demand for convenient, better-for-you food options. As the largest urban centre in Atlantic Canada, Halifax continues to attract students, young professionals, families, and newcomers, creating a strong customer base for Heal's fresh smoothie bowls, acai bowls, smoothies, and wellness-focused quick-serve menu. With a significant working-age population, a vibrant downtown core, major universities, healthcare and government employment hubs, and an increasingly health-conscious consumer base, Halifax provides an ideal environment for Heal Wellness to expand its presence in Atlantic Canada as we further advance our disciplined, asset-light growth strategy .

"We are very pleased to announce that Wade has secured real estate for his first Heal Wellness location in Halifax," said Sean Black, Chief Executive Officer of Happy Belly. "This is an important next step following the previously announced signing of his franchise agreement for the city. Halifax continues to be an important city for our Atlantic Canada expansion. Each secured real estate location strengthens our national growth pipeline and brings us one step closer to bringing Heal's product offering to more cities in Atlantic Canada. As we continue to scale Heal and the rest of Happy Belly's portfolio of emerging brands, our focus remains on executing with the 3Ps: People, Product, and Process."

Figure 2

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"Heal Wellness continues to expand rapidly across Canada and into the United States, solidifying its position as a leading açaí and smoothie bowl brand. With 39 locations open and more than 169 in development, Heal contributes to Happy Belly's broader portfolio of 686 contractually committed retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. Our predictable and disciplined growth engine continues to deliver measurable results as we expand our brands across Canada and the U.S. to create long-term value for our shareholders."

"We are just getting started", said Sean Black.

About Heal WellnessHeal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

FranchisingFor franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group

Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Figure 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296883

Source: Happy Belly Food Group Inc.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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Toronto, Ontario--(Newsfile Corp. - May 13, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands is pleased to announce its unaudited financial results and corporate update for the fiscal quarter ended March 31st, 2026.

Q1 2026 Financial and Recent Business Highlights

System-wide sales across Quick Service Restaurants (QSR") totalled $19.3M in the first quarter of fiscal 2026, up 80.4% versus the same quarter last year (2025 - $10.7M). The increase is attributed to organic baseline restaurant growth, alongside increased restaurant count, which reached 87 operating restaurants at the end of Q1 2026, up 74.0% versus 50 in the prior year.

Total operating revenues, services, interest income and rebates totalled $6.0M in the first quarter of fiscal 2026, up 82.2% versus the same quarter last year (2025 - $3.3M). Year-over-year growth was driven by continued sales growth in QSR, multiple business acquisitions in the past twelve months, and net new restaurants (10 new openings in Q1).

Total product sales totalled $4.7M in the first quarter of 2026, up 70.3% versus the same quarter last year (2025 - $2.8M). In addition, royalties and franchise fee revenues reached $0.97M during the quarter, up 118% from the prior year (2025 - $0.45M), which was driven by an increase in royalties collected from added franchised restaurants in the system.

Adjusted EBITDA was $(0.17M) or (2.9%) in the first quarter of fiscal 2026 versus $0.14M or 4.2% in the same quarter last year.

Total cash and cash equivalents remain healthy at $6.2M as of March 31, 2026 (2025 - $3.0M).

As of April 30, 2026, subsequent to fiscal 2025, the Company has opened and is operating 17 additional restaurants.

Management Commentary "Happy Belly continued to deliver strong growth in the first quarter of fiscal 2026, with system-wide sales across our Quick Service Restaurant portfolio increasing 80.4% year over year to $19.3 million. This growth reflects continued organic baseline restaurant performance, the contribution of recent acquisitions, and the expansion of our operating restaurant base to 87 locations at quarter end, up 74.0% from the prior year," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "During the quarter, we opened 10 new restaurants, further demonstrating the strength and repeatability of our growth model. Subsequent to quarter end, we continued that momentum, with 7 additional restaurants opened and operating. This continued expansion reinforces the demand for our brands and the effectiveness of our area developer and franchise platform."

"Total operating revenues also increased 82.2% year over year to $6.0 million, while total product sales increased 70.3% to $4.7 million. Importantly, royalties and franchise fee revenues grew 118% to $0.97 million, driven by the continued expansion of franchised restaurants across our system. This is a key metric for us as we scale towards 100+ operating locations in the first half of this year. As our restaurant footprint grows, these higher-margin revenue streams become an increasingly important contributor to our financial profile."

"With $6.2 million in cash at quarter end, and less than $60,000 in total secured debt, we remain well positioned to continue executing our strategy without having to slow down. We are proud of the progress made in Q1 2026 and remain focused on disciplined growth, operational execution, and scaling Happy Belly as a leading acquirer and operator of emerging food brands. Our expanding franchise system provides increased royalty and franchise fee revenues providing a strong foundation for long-term shareholder value creation. Moving forward in 2026 we anticipate delivering significant organic growth, surpassing our original expectations for the full year. With cash in the bank, building the business in the back half of 2026 is going to be a lot of fun".

"We are just getting started," said Sean Black.

Full details of the financial reports and operating results for the first quarter of fiscal 2026, are described in the Company's consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.

FOOTNOTES:
1. Adjusted EBITDA Is a non-IFRS financial measure which does not have a standardized meaning prescribed by IFRS. Adjusted EBITDA and Adjusted EBITDA Margin are used by management as supplemental measures to review and assess operating performance and to provide a more complete understanding of factors and trends impacting the Company's business. Management believes Adjusted EBITDA are useful measures of operating performance and the Company's ability to generate cash-based earnings, as they provide a more relevant position of operating results by excluding the effects of financing and investing activities, which removes the effects of interest, depreciation and amortization expenses as well as other expenses, as described, that are not reflective of the Company's underlying business. This non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Adjusted EBITDA is defined as net comprehensive income or (loss), excluding interest, taxes, depreciation and amortization (EBITDA), adjusted for share-based compensation, gain (loss) on equity investments and sublease, expected credit loss and non-recurring expenses.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297276

Source: Happy Belly Food Group Inc.

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Burger King president Tom Curtis told Business Insider it could take decades to fully execute the chain's comeback strategy. Burger King; Sergi Alexander/Sergi Alexander/Eyeworks Production Burger King wants to be crowned the top burger chain — and while company leadership says its turnaround effort could take decades, it's already showing results.

"'Reclaim the Flame' is, frankly, a two-decade strategy because of everything that has to be done," Burger King US and Canada president Tom Curtis said during a press briefing attended by Business Insider.

The "Reclaim the Flame" initiative, launched in 2022 after years of declining sales and operational struggles, is Burger King's turnaround plan aimed at boosting traffic and franchisee profitability through restaurant remodels, operational improvements, and investments in the Whopper, the chain's signature burger.

At the time, the company pledged to invest $400 million into the effort over the following two years. (For comparison, Red Lobster's comeback plan was backed by $60 million in funding.)

As of August 2025, Burger King still ranked third among US burger chains by sales, according to QSR Magazine, behind McDonald's and Wendy's.

"We've been really working the last four years to improve the restaurant experience — our operations, our technology in the restaurants, remodeling — and we're also elevating our food," Burger King chief marketing officer Joel Yashinsky told Business Insider.

Yashinsky said the company is also trying to make customers feel more connected to the brand by leaning into Burger King's long-standing emphasis on customization, dating back to its "Have It Your Way" slogan introduced in 1974.

"We want the guest to have ownership in the brand," Yashinsky said. "Burger King was the first to really realize people liked customization."

Burger King has doubled down on the Whopper, betting big on its signature burger to fuel the chain's comeback

Burger King recently updated its Whopper with a new box, bun, and mayonnaise.  Erin McDowell/Business Insider This renewed focus includes recent campaigns to improve the Whopper's presentation and listening to customer feedback on how to elevate it, rather than solely introducing new menu items.

"We found an interesting way to do it through listening and taking action, and consumers see us listening to the feedback," Curtis told Business Insider.

For example, Burger King had been receiving feedback that Whoppers often ended up smushed in the bag because they were wrapped only in paper. As of February, the Whopper is now served in a cardboard box. The chain also upgraded some of its components, adding a creamier mayonnaise and a new, glossier bun.

"It's all about putting the guest first and delivering what they're looking for from Burger King," Yashinsky said. "We just want to be a brand that really authentically listens and acts to what the guests are looking for."

Yashinsky said the company is also trying to improve quality without raising prices for customers. Burger King kept the Whopper at the same price even as it upgraded the burger and its packaging.

"The fact that we're investing and not shrinking value through cutting sizes or cutting cost in different ways, but actually investing in the packaging and investing in a better bun, those little things matter, and customers notice that," he said.

Despite a challenging market, the comeback is showing positive signs

Reality star Kyle Cooke promoted "Wednesdays should be fun" to support Whopper Wednesday on April 15, 2026  Roy Rochlin/Getty Images for Burger King Curtis described Burger King's position several years ago as dire, saying the brand faced an "existential threat." He said that when he joined Burger King in 2021, a former boss showed him an article predicting the chain would disappear within a decade.

But four years after launching "Reclaim the Flame," the turnaround plan is taking shape.

The chain, like others in the QSR industry, has focused much of its marketing on value, with campaigns such as "Whopper Wednesday," $5 Duos, and $7 Trios to draw in customers.

In the first quarter, Burger King reported 5.8% same-store sales growth in the US, outperforming its competitors in the QSR burger segment. (McDonald's same-store sales increased 3.9%, while Wendy's sales declined by 7.8% in Q1.)

It's also a notable increase from the same period last year, when the chain reported a 1.6% same-store sales growth.

Company leadership cited new, family-focused initiatives, like the chain's King Junior meals and its SpongeBob-themed meal collaboration, as part of the reason for the growth. Curtis said in the earnings call that kids' meal sales had risen about 40% over the past six months, CNBC reported.

Whopper sales are also up.

QSR Magazine reported that, in the last quarter, Burger King restaurants posted their highest average Whopper sales per location in more than three years.

Looking ahead, Yashinsky told Business Insider that Burger King plans to continue modernizing restaurants, expanding its franchisee network, launching new innovations, and elevating its most popular menu items while staying true to the chain's roots.

"Burger King will feel different [in five years] than it does today pretty significantly, but we're not changing who we are," he said. "We're going back more toward 'Have It Your Way.'"

Read next

Erin McDowell You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Erin McDowell is a reporter on Business Insider's editorial partnerships team. She covers food, lifestyle, and entertainment for Business Insider and its partner sites, including MSN, Apple News, and Yahoo.She graduated from Elon University in January 2019, where she studied strategic communications and digital art. She has written for V Magazine, Milk.XYZ, OUT.com, Brides Magazine, and more. She lives in Brooklyn, New York, and can be found on LinkedIn. Please send all inquiries, comments, or tips to [email protected] stories:

Celebrity-chef restaurants and Applebee's are using the same playbookChain restaurants like Chili's are coming for fast-food giants in the latest bout of the value warsI tried double cheeseburgers from 13 fast-food chains. I thought the best burger was also the best deal.I ate at the first Applebee's and IHOP hybrid restaurant in the US. Its plan to attract younger diners could just work.The chicken sandwich wars are over. Make way for the chicken tender battle.I ate the same meal at TGI Fridays and Chili's. It's clear why only one is thriving.I compared 2 world-famous barbecue spots in Texas. Both had impressive meat options, but the sides at one were way better.How 'The Bachelor' franchise went from a cultural phenomenon to a relic of reality televisionMeet Jacob Knowles, a 5th-generation Maine lobsterman who is sharing his unique career with legions of online fans Burger King Fast Food

, /PRNewswire/ - Restaurant Brands International Inc. (NYSE/TSX: QSR, TSX: QSP) ("RBI") announced today that Patrick Doyle, Executive Chairman, and Josh Kobza, Chief Executive Officer will participate in a fireside chat at the Bernstein 42nd Annual Strategic Decisions Conference in New York City on May 28, 2026 at 9:00am Eastern Time.

A live audio webcast will be available on the company's investor relations website (http://rbi.com/investors) and a replay will be available for a limited time following the event.

About Restaurant Brands International Inc.
Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with nearly $48 billion in annual system-wide sales and roughly 33,000 restaurants in more than 120 countries and territories. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.

RBI's principal executive offices are in Miami, Florida. In North America, RBI's brands are headquartered in their home markets where they were founded decades ago: Canada for Tim Hortons and the U.S. for Burger King, Popeyes and Firehouse Subs. To learn more about RBI, please visit the company's website at www.rbi.com.

SOURCE Restaurant Brands International Inc.

Restaurant Brands International Inc. (QSR) Shareholder/Analyst Call Prepared Remarks Transcript

, /PRNewswire/ - Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR) ("RBI") today announced the results of the vote on the election of directors at its Annual Meeting of Shareholders held on June 3, 2026.

The total number of eligible votes represented in person or by proxy at the meeting was 403,178,212 representing 88.29% of all eligible votes.

RBI's proxy circular provided for ten nominees to the Board of Directors. The ten individuals nominated by the Board of Directors for election as directors of RBI were elected, each to hold office until the close of the next annual meeting of shareholders or until their respective successors are elected or appointed. Each nominee other than Ms. Smith was an incumbent director.

The votes cast with respect to each nominee were as follows:

Director Nominee

Votes For

%

Votes Against

%

Alexandre Behring

386,544,846

97.21 %

10,905,772

2.74 %

Maximilien de Limburg Stirum

396,984,644

99.83 %

616,474

0.16 %

J. Patrick Doyle

393,548,187

98.97 %

4,058,404

1.02 %

Cristina Farjallat

396,848,192

99.80 %

759,417

0.19 %

Ali Hedayat

393,457,494

98.95 %

4,142,830

1.04 %

Marc Lemann

391,720,662

98.51 %

5,882,501

1.48 %

Jason Melbourne

396,839,982

99.80 %

763,563

0.19 %

Daniel S. Schwartz

396,469,148

99.70 %

1,131,612

0.28 %

Marcia Smith

397,229,186

99.90 %

376,898

0.09 %

Thecla Sweeney

394,889,035

99.31 %

2,671,526

0.67 %

Final voting results on all matters at the Annual Meeting of Shareholders will be filed with Canadian and U.S. securities regulators.

About Restaurant Brands International Inc.

Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with nearly $48 billion in annual system-wide sales and roughly 33,000 restaurants in more than 120 countries and territories. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities. 

RBI's principal executive offices are in Miami, Florida. In North America, RBI's brands are headquartered in their home markets where they were founded decades ago: Canada for Tim Hortons and the U.S. for Burger King, Popeyes and Firehouse Subs. To learn more about RBI, please visit the company's website at www.rbi.com.

SOURCE Restaurant Brands International Inc.

Toronto, Ontario--(Newsfile Corp. - June 5, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce the grand opening of its newest Heal Wellness ("Heal") restaurant location this Saturday, June 6th, 2026, at 860 Dundas St, Unit 2, Woodstock, Ontario. This location further advances Heal's disciplined, asset-light growth strategy as the brand continues to expand across Ontario's high-growth urban and suburban markets. Heal Wellness is a fast-growing quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies, built around clean ingredients and a better-for-you lifestyle.

Happy Belly 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/300309_907235442462992a_002full.jpg

Woodstock serves as a regional hub in Southwestern Ontario, benefiting from its strategic location along the Highway 401 corridor and its role as a growing employment and retail center. The city's expanding residential developments, established retail nodes, and increasing focus on wellness-oriented lifestyles provide a compelling backdrop for Heal's smoothie and smoothie bowl products. This location offers strong visibility, accessibility, and proximity to daily-use retail, positioning Heal to capture consistent demand throughout the day.

"Opening Heal in Woodstock marks another meaningful milestone in our Ontario expansion strategy," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "This location reflects our continued focus on expanding Heal into strong, community-oriented markets with favorable demographic and traffic fundamentals. Woodstock benefits from steady population growth, a growing commercial base, and a well-balanced mix of residents, commuters, and families seeking convenient, health-forward food options. These characteristics align well with Heal's functional, grab-and-go offering and support sustainable, long-term unit performance."

Happy Belly 2

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/300309_907235442462992a_003full.jpg

"Heal Wellness continues to expand rapidly across Canada and into the United States, solidifying its position as a leading acai and smoothie bowl brand," said Sean Black. "With 41 locations now open and more than 167 in development, Heal remains a key driver of growth within Happy Belly's broader portfolio of 686 contractually committed retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. We continue to build a predictable and disciplined growth engine designed to create long-term shareholder value."

"We are just getting started", said Sean Black.

About Heal WellnessHeal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

FranchisingFor franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly Food Group

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/300309_907235442462992a_004full.jpg

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300309

Source: Happy Belly Food Group Inc.

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Square today announced that Coffee Dose, a specialty coffee brand and dining destination founded in 2018 by Jeni and Oscar Castro, is further expanding with Square as its unified commerce platform. Coffee Dose operates four locations across Southern California and is opening two additional concepts this year: Coffee Dose Brunch Club in Encinitas in June 2026, and a 3,600-square-foot flagship in Palm Springs in the fall. Square’s infrastructure is utilized across live locations and will support the brand’s new venues as it scales.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611677338/en/

Photo of Coffee Dose Brunch Club taken by Jordan Shiley

Founded in 2018 with no coffee industry experience but an ambitious commitment to clean ingredients and irreverent branding, the Castro’s have built a loyal following around their nontraditional approach. Customers seek out Coffee Dose’s distinct menu of therapeutic lattes, house-made syrups, ingredients including charcoal and collagen, and seed oil free, vegan- and keto-friendly food. Since first onboarding Square in 2021, Coffee Dose has scaled from an 88 square foot pop-up occupying the corner of a hair salon into an eight-figure hospitality company, with each location in its growing portfolio possessing a unique identity.

A Commerce Platform Built for Continued Growth

Coffee Dose operates a range of quick-service restaurant (QSR) concepts: a flagship café, a drive-thru called MicroDose, and a walk-up café inside a pink shipping container called Dose in the Box. Across each location, Coffee Dose relies on Square to seamlessly manage operations and maintain a cohesive overview. With two boundary-pushing concepts coming this year, Coffee Dose is further leveraging Square for its ease of use, reporting and analytics capabilities, and partner integrations.

"I don’t see Square as just our point-of-sale system," said Jeni Castro, Co-Founder and CEO of Coffee Dose. "I see it as a partner that helps me scale my business in the most impactful way. The tools are easy for my team to use, the data and reporting help us make informed decisions across locations, and we can bring Square into each new opening without starting from scratch. That matters a lot when you’re growing as quickly as we are and have a thousand details to keep organized."

Coffee Dose’s Square usage spans a blend of hardware and software, including Square Register, Square Handheld, Kitchen Display System (KDS), online ordering for menu items and merchandise, gift cards, and loyalty. This ecosystem gives Coffee Dose operators the tools to run high-volume counter service, manage order flow across channels, and maintain critical customer engagement programs. The Per Diem integration is another key component of Coffee Dose’s technology stack, enabling mobile order-ahead and loyalty rewards for guests. From their café counter to a drive-thru lane to a walk-up shipping container window, Square’s platform supports all of the brand’s formats under a single account structure, giving Coffee Dose centralized visibility into sales, inventory, and customer data regardless of location model.

Supporting a Multi-Format, Multi-Location Operation

As Coffee Dose brings its Encinitas Brunch Club and Palm Springs flagship to life in 2026, both locations will run on Square from day one. The Palm Springs location, at 3,600 square feet on an acre of desert land, will be the brand’s largest destination to date and will include a drive-thru and walk-up window, in addition to full interior service – a multi-channel format that maximizes the flexibility Square was designed to unlock.

"Coffee Dose has built a popular, multi-location business that requires a technology platform able to keep pace across distinct formats: from a diner, to a café, to a drive-thru venue," said James Schonzeit, Head of Food & Beverage at Square. "They came to Square in 2021 and have grown significantly since. With two more openings this year, Square gives them the operational foundation to expand with confidence while preserving their standout brand identity across new concepts."

To learn more about how Square powers coffee and food and beverage (F&B) businesses, visit squareup.com/restaurants.

About Coffee Dose

Coffee Dose is a specialty coffee and dining destination founded in 2018 by Jeni and Oscar Castro in Costa Mesa, California. The brand operates four locations across Orange County, with two additional concepts, in Encinitas and Palm Springs, CA, opening in 2026. Coffee Dose is known for its house-made syrups, Rx Lattes, and proprietary Anti Bitch Blend roast, and serves a menu of seed oil free, vegan- and keto-friendly food alongside its core beverage program. For more information, visit coffeedose.cafe.

About Square

Square helps businesses turn transactions into connections and businesses into neighborhood favorites.

In 2009, Square started with a simple invention – the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.

Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, cash flow tools, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260611677338/en/