INNOVATIVE FOOD HOLDINGS INC
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-20.
0001185185-26-001984
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-14.
0001185185-26-003542
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 48 previous paragraphs and 53 current paragraphs.
39 unchanged; 7 reworded; 4 added; 2 removed; 0 previous and 3 current paragraphs rearranged.
Tables are not compared: 12 previous and 17 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
As of June 30, 2026, no SARs were executed and all SARs were expired.
Current report
Six Months Ended June 30, 2026
Current report
Revenue Breakdown:
Current report
Operating Expenses
Removed paragraphs (2)
Previous report
Discontinued Operations
Previous report
The discontinued operations reported net income of $1.5 million in the current quarter, compared to a net loss of $684 thousand in the prior year primarily due to the $2.1 million gain on the sale of the Pennsylvania facility in 2026.
Reworded paragraphs (7)
Previous wording
The Company maintained an allowance in the amount of $247,272 and $218,319 for credit losses at March 31, 2026 and December 31, 2025, respectively. The Company has an operational relationship of several years with our major customers, and we believe this experience provides us with a solid foundation from which to estimate our expected losses on accounts receivable. Should our sales mix change or if we develop new lines of business or new customers, these estimates and our estimation process will change accordingly. These estimates have been accurate in the past.
Current wording
The Company maintained an allowance in the amount of $259,446 and $218,319 for credit losses at June 30, 2026 and December 31, 2025, respectively. The Company has an operational relationship of several years with our major customers, and we believe this experience provides us with a solid foundation from which to estimate our expected losses on accounts receivable. Should our sales mix change or if we develop new lines of business or new customers, these estimates and our estimation process will change accordingly. These estimates have been accurate in the past.
Previous wording
Financial highlights for the fiscal quarter ended March 31, 2026: we reported revenue of $12.2 million, a 19.0% decrease compared to $15.0 million in 2025.
Current wording
Financial highlights for the fiscal quarter ended June 30, 2026: we reported revenue of $13.1 million, a 21.5% decrease compared to $16.6 million in 2025.
Previous wording
Total operating expenses decreased by $888 thousand, or 24%, primarily due to the factors described below:
Current wording
Total operating expenses decreased by $429 thousand, or 12.4%, primarily due to the factors described below:
Previous wording
Cost of goods sold for the three months ended March 31, 2026 decreased by approximately 18% to $9.1 million compared to $11.1 million in the prior year period, which is primarily due to a 19% decrease in revenue. Gross margin remained flat at approximately 26%.
Current wording
Cost of goods sold for the six months ended June 30, 2026 decreased by approximately 20% to $18.7 million compared to $23.5 million in the prior year period, which is primarily due to a 21% decrease in revenue. Gross margin remained flat at approximately 26%.
Previous wording
As of March 31, 2026, we had current assets of $9.8 million and current liabilities of $3.3 million. Net working capital was $6.5 million.
Current wording
As of June 30, 2026, we had current assets of $10.1 million and current liabilities of $3.5 million. Net working capital was $6.6 million.
Previous wording
We believe we have sufficient liquidity to fund operations for at least the next twelve months. With the sale of the Pennsylvania facility, operating cash flows are expected to continue to improve as facility costs and lower margin product sales roll off. We do not anticipate the need to raise additional capital. We are working on a new credit facility to provide working capital flexibility. Remaining severance obligations are not expected to be material, and staffing levels are being managed to align with current business needs.
Current wording
We believe we have sufficient liquidity to fund operations for at least the next twelve months. With the sale of the Pennsylvania facility, operating cash flows are expected to continue to improve as facility costs and lower margin product sales roll off. We do not anticipate the need to raise additional capital. We are exploring new credit facility options to provide working capital flexibility. Remaining severance obligations are not expected to be material, and staffing levels are being managed to align with current business needs.
Previous wording
During the three months ended March 31, 2026, and 2025, U.S. Foods, Inc. and its affiliates accounted for approximately 40% and 41% of total revenue, respectively. Gate Gourmet accounted for approximately 15% and 19% of total revenue, respectively, during the three months ended March 31, 2026, and 2025.
Current wording
During the three months ended June 30, 2026 and 2025, U.S. Foods, Inc. and its affiliates accounted for approximately 40% and 34% of total revenue, respectively. Gate Gourmet accounted for approximately 18% and 15% of total revenue, respectively, during the three months ended June 30, 2026 and 2025.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
Cost of goods sold for the three months ended June 30, 2026 decreased by approximately 22% to $9.6 million compared to $12.4 million in the prior year period, which is primarily due to a 21.5% decrease in revenue. Gross profit declined by 20.1% to $3.4 million, while gross margin increased to 26.2% from 25.7%.
Current report — wording carried from elsewhere
Total operating expenses decreased by $1.3 million, or 18.5%, primarily due to the factors described below:
Current report — wording carried from elsewhere
During the six months ended June 30, 2026 and 2025, U.S. Foods, Inc. and its affiliates accounted for approximately 40% and 34% of total revenue, respectively. Gate Gourmet accounted for approximately 17% and 14% of total revenue, respectively, during the six months ended June 30, 2026 and 2025.