Laird Superfood, Inc. (NYSE American: LSF) (“Laird Superfood,” the “Company,” “we,” and “our”), today reported financial results for the second quarter ended June 30, 2026.

Jason Vieth, Chief Executive Officer, commented, “Q2 was another transformational quarter for Laird Superfood as we closed the acquisition of Terrasoul Superfoods and completed the integration of Navitas into the Company’s processes, organization and ERP system. During the second quarter, we successfully launched Laird’s coffees and coffee creamers at approximately 1,000 Wal-Marts nationwide and expanded our assortment of Navitas products at retailers including Target. These wins are the direct result of our continued investment in product innovation, our robust supply chain and our deepening partnerships with the largest retailers in the country. We’re also building real momentum on Amazon.com and other online marketplaces across all three of our brands. As we look to the second half of the year, we will continue to build on our sales momentum and unlocking synergies across our platforms, which gives us confidence in our ability to deliver sustained, profitable growth and long-term value for our shareholders.”

Second Quarter 2026 Highlights

  • Net sales increased by 244% to $41.3 million compared to $12.0 million in the corresponding prior year period. The increase was primarily attributable to distribution expansion in our retail channel, continued strength in club stores, and the contribution of the Navitas and Terrasoul acquisitions.

  • E-commerce sales increased by 221% year-over-year and contributed 49% of total Net sales, led by the addition of Navitas and Terrasoul sales and strong sales growth on Amazon.com, offset in part by softness in the direct-to-consumer channel.

  • Wholesale sales increased by 269% year-over-year and contributed 51% of total Net sales, driven by the addition of Navitas and Terrasoul sales.

  • Gross profit increased 162% to $12.5 million, or 30.3% of net sales as compared to $4.8 million, or 39.9% of net sales in the corresponding prior year period. The gross margin compression was attributable to unfavorable channel and product mix, inflationary commodity costs, and lower margins associated with the Terrasoul brand.

  • Net loss was ($1.8) million, or ($0.25) per basic and diluted share, compared to net loss of ($0.4) million, or ($0.03) per basic and diluted share, in the corresponding prior year period. The increased net loss relative to the prior year period was driven primarily by costs incurred in connection with the acquisition and integration of Navitas and Terrasoul.

  • Adjusted EBITDA, which is a non-GAAP financial measure, was $3.0 million, compared to $0.1 million in the corresponding prior year period. The increase was driven primarily by the addition of Navitas and Terrasoul acquisitions early synergies realization, offset in part by inflationary commodity costs and higher marketing and selling expenses. For more details on non-GAAP financial measures, refer to the information in the non-GAAP financial measures section of this press release.

Year-to-Date 2026 Highlights

  • Net sales increased by 134% to $55.2 million compared to $23.6 million in the corresponding prior year period. The increase was primarily driven by distribution expansion in retail and Club channels and the contribution of the Navitas and Terrasoul acquisitions.

  • E-commerce sales increased by 114% year-over-year and contributed 48% of total Net sales, led by the addition of Navitas and Terrasoul sales and strong sales growth on Amazon.com, offset in part by softness in the direct-to-consumer channel.

  • Wholesale sales increased by 156% year-over-year and contributed 52% of total Net sales, driven by the addition of Navitas and Terrasoul sales, as well as new and existing items expansion in the wholesale channel.

  • Gross profit increased by 78% to $17.2 million, or 31.1% of net sales, compared to $9.7 million, or 40.9% of net sales, in the corresponding prior year period. The margin compression was attributable to unfavorable channel and product mix, inflationary commodity costs, as well as lower margins associated with the Terrasoul brand.

  • Net loss was ($0.1) million, or ($0.10) per basic and diluted share, compared to net loss of ($0.5) million, or ($0.05) per basic and diluted share, in the corresponding prior year period. The improvement was driven by a discrete income tax benefit related to the release of valuation allowance on deferred tax liabilities acquired in connection with the Navitas acquisition, and the contribution of Navitas and Terrasoul acquisitions, offset in part by costs incurred in connection with the acquisition and integration of Navitas and Terrasoul, and, to a lesser degree, by inflationary commodity costs.

  • Adjusted EBITDA, which is a non-GAAP financial measure, was $1.8 million, compared to $0.5 million in the corresponding prior year period. The increase was attributable primarily to addition of Navitas and Terrasoul brands, offset in part by inflationary commodity costs and higher marketing and selling expenses. For more details on non-GAAP financial measures, refer to the information in the non-GAAP financial measures section of this press release.

REVENUE DISAGGREGATION

(unaudited)
 

 

 

Three Months Ended June 30,

 

 

2026

 

2025

 

 

$

 

% of Total

 

$

 

% of Total

Coffee solutions

 

$

12,913,036

 

 

 

31

%

 

$

10,378,014

 

 

 

87

%

Functional foods

 

 

13,818,958

 

 

 

33

%

 

 

3,238,903

 

 

 

27

%

Superfood ingredients

 

 

20,249,242

 

 

 

49

%

 

 

61,681

 

 

 

1

%

Gross sales

 

 

46,981,236

 

 

 

113

%

 

 

13,678,598

 

 

 

115

%

Shipping income

 

 

130,551

 

 

 

0

%

 

 

138,073

 

 

 

1

%

Discounts and promotional activity

 

 

(5,817,603

)

 

 

(13

)%

 

 

(1,825,829

)

 

 

(16

)%

Sales, net

 

$

41,294,184

 

 

 

100

%

 

$

11,990,842

 

 

 

100

%

 

 

Three Months Ended June 30,

 

 

2026

 

2025

 

 

$

 

% of Total

 

$

 

% of Total

E-commerce

 

$

20,036,590

 

 

 

49

%

 

$

6,237,344

 

 

 

52

%

Wholesale

 

 

21,257,594

 

 

 

51

%

 

 

5,753,498

 

 

 

48

%

Sales, net

 

$

41,294,184

 

 

 

100

%

 

$

11,990,842

 

 

 

100

%

 

 

Six Months Ended June 30,

 

 

2026

 

2025

 

 

$

 

% of Total

 

$

 

% of Total

Coffee solutions

 

$

24,606,365

 

 

 

45

%

 

$

20,313,914

 

 

 

86

%

Functional foods

 

 

16,732,575

 

 

 

30

%

 

 

6,786,649

 

 

 

29

%

Superfood ingredients

 

 

22,125,508

 

 

 

40

%

 

 

120,168

 

 

 

1

%

Gross sales

 

 

63,464,448

 

 

 

115

%

 

 

27,220,731

 

 

 

116

%

Shipping income

 

 

245,630

 

 

 

0

%

 

 

260,347

 

 

 

1

%

Discounts and promotional activity

 

 

(8,474,342

)

 

 

(15

)%

 

 

(3,836,077

)

 

 

(17

)%

Sales, net

 

$

55,235,736

 

 

 

100

%

 

$

23,645,001

 

 

 

100

%

 

 

Six Months Ended June 30,

 

 

2026

 

2025

 

 

$

 

% of Total

 

$

 

% of Total

E-commerce

 

$

26,587,499

 

 

 

48

%

 

$

12,450,460

 

 

 

53

%

Wholesale

 

 

28,648,237

 

 

 

52

%

 

 

11,194,541

 

 

 

47

%

Sales, net

 

$

55,235,736

 

 

 

100

%

 

$

23,645,001

 

 

 

100

%

Balance Sheet and Cash Flow Highlights

Cash, cash equivalents, and restricted cash as of June 30, 2026, totaled $23.2 million, as compared to $5.3 million as of December 31, 2025, and $10.5 million as of March 31, 2026. The increase in cash was primarily a result of proceeds from the issuance of Series A Preferred Stock, offset by the consideration paid in the acquisitions of Navitas in the first quarter and Terrasoul in the second quarter. There was no outstanding debt as of June 30, 2026.

2026 Financial Outlook

We are reaffirming the full year 2026 guidance we provided last quarter. For fiscal year 2026, the Company continues to expect consolidated Net sales in the range of $138 to $148 million, reflecting a full year of Laird Superfood and the post-acquisition contributions of Navitas and Terrasoul. Adjusted EBITDA is expected to be in the range of $8 to $12 million for fiscal 2026. This reaffirmed guidance reflects the Company’s continued confidence in growth trends across its business and the pace of synergy capture achieved to date. The Company will provide updated guidance as integration milestones are achieved and visibility into the full-year outlook improves.

Laird Superfood has not provided a reconciliation between its forecasted Adjusted EBITDA and net loss, its most directly comparable GAAP measure, because applicable information for future periods, on which this reconciliation would be based, is not available without unreasonable effort due to the unavailability of reliable estimates for stock-based compensation, due to volatility in our stock price, and state and local income taxes, among other items. These items may vary greatly over periods and could significantly impact future financial results.

Conference Call and Webcast Details

We will host a conference call and webcast at 5:00 p.m. ET today to discuss our financial results. Participants may access the live webcast on the Laird Superfood Investor Relations website at https://investors.lairdsuperfood.com under “Events”. The webcast will be archived on the Company’s website and will be available for replay for at least two weeks.

About Laird Superfood

Laird Superfood, Inc. creates award-winning, plant-based superfood products that are clean, delicious, and functional. Our products are designed to enhance a consumer’s daily ritual and keep them fueled naturally throughout the day. Laird Superfood was co-founded in 2015 by the world’s most prolific big-wave surfer, Laird Hamilton. Laird Superfood’s offerings are environmentally conscientious, responsibly tested and made with real ingredients. Shop all products online at www.lairdsuperfood.com and join the Laird Superfood community on social media for the latest news and daily doses of inspiration.

Forward-Looking Statements

This press release and the conference call referencing this press release contain “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to our 2026 financial outlook and statements regarding Laird Superfood’s anticipated expansion across its platforms, channels, products, and geographies, cash runway, future financial performance, and growth. Such forward-looking statements may be identified by words such as “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would,” or the antonyms of these terms or other comparable terminology. These forward-looking statements are based on Laird Superfood’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Laird Superfood’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. We expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The risks and uncertainties referred to above include, but are not limited to: (1) volatility regarding our revenue, expenses, including shipping expenses, and other operating results; (2) our ability to acquire new direct and wholesale customers and successfully retain existing customers; (3) our ability to attract and retain our suppliers, distributors and co-manufacturers, and effectively manage their costs and performance; (4) effects of real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; (5) our ability to innovate on a timely and cost-effective basis, predict changes in consumer preferences and develop successful new products, or updates to existing products, and develop innovative marketing strategies; (6) adverse developments regarding prices and availability of raw materials and other inputs, a substantial amount of which come from a limited number of suppliers outside the United States, including in areas which may be adversely affected by climate change; (7) effects of changes in the tastes and preferences of our consumers and consumer preferences for natural and organic food products; (8) the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers and food service customers, as well as the health of the food service industry generally; (9) the ability of ourselves, our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations and the potential impact of policy changes regarding imports, exports, and tariffs; (10) our plans for future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements, including our ability to continue as a going concern; (11) the costs and success of our marketing efforts, and our ability to promote our brand; (12) our reliance on our executive team and other key personnel and our ability to identify, recruit and retain skilled and general working personnel; (13) our ability to effectively manage our growth; (14) our ability to compete effectively with existing competitors and new market entrants; (15) the impact of adverse economic conditions, consumer confidence and spending levels; (16) the growth rates of the markets in which we compete, and (17) the other risks described in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings we make with the Securities and Exchange Commission.

LAIRD SUPERFOOD, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)
 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

 

2026

 

2025

 

2026

 

2025

Sales, net

 

$

41,294,184

 

 

$

11,990,842

 

 

$

55,235,736

 

 

$

23,645,001

 

Cost of goods sold

 

 

(28,779,184

)

 

 

(7,209,839

)

 

 

(38,077,497

)

 

 

(13,982,458

)

Gross profit

 

 

12,515,000

 

 

 

4,781,003

 

 

 

17,158,239

 

 

 

9,662,543

 

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries, wages, and benefits

 

 

1,352,799

 

 

 

1,185,639

 

 

 

2,952,370

 

 

 

2,343,794

 

Other general and administrative

 

 

5,898,949

 

 

 

1,017,124

 

 

 

8,178,110

 

 

 

2,102,733

 

Total general and administrative expenses

 

 

7,251,748

 

 

 

2,202,763

 

 

 

11,130,480

 

 

 

4,446,527

 

Sales and marketing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketing and advertising

 

 

3,247,989

 

 

 

1,903,250

 

 

 

5,733,959

 

 

 

3,703,475

 

Selling

 

 

3,879,068

 

 

 

1,074,467

 

 

 

5,178,547

 

 

 

2,130,037

 

Total sales and marketing expenses

 

 

7,127,057

 

 

 

2,977,717

 

 

 

10,912,506

 

 

 

5,833,512

 

Total operating expenses

 

 

14,378,805

 

 

 

5,180,480

 

 

 

22,042,986

 

 

 

10,280,039

 

Operating loss

 

 

(1,863,805

)

 

 

(399,477

)

 

 

(4,884,747

)

 

 

(617,496

)

Other income

 

 

56,474

 

 

 

45,561

 

 

 

103,307

 

 

 

120,009

 

Loss before income taxes

 

 

(1,807,331

)

 

 

(353,916

)

 

 

(4,781,440

)

 

 

(497,487

)

Income tax benefit (expense)

 

 

2,250

 

 

 

(8,262

)

 

 

4,727,289

 

 

 

(20,873

)

Net loss

 

$

(1,805,081

)

 

$

(362,178

)

 

$

(54,151

)

 

$

(518,360

)

Less: Accretion of paid-in-kind preferred dividends

 

 

(974,319

)

 

 

—

 

 

 

(1,072,627

)

 

 

—

 

Net loss attributable to common stockholders

 

$

(2,779,400

)

 

$

(362,178

)

 

$

(1,126,778

)

 

$

(518,360

)

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.25

)

 

$

(0.03

)

 

$

(0.10

)

 

$

(0.05

)

Diluted

 

$

(0.25

)

 

$

(0.03

)

 

$

(0.10

)

 

$

(0.05

)

Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted

 

 

11,019,387

 

 

 

10,517,528

 

 

 

10,904,337

 

 

 

10,431,987

 
 

LAIRD SUPERFOOD, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)
 

 

 

Six Months Ended June 30,

 

 

2026

 

2025

Cash flows from operating activities

 

 

 

 

 

 

 

 

Net loss

 

$

(54,151

)

 

$

(518,360

)

Adjustments to reconcile net loss to net cash from operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,281,398

 

 

 

125,897

 

Stock-based compensation

 

 

652,489

 

 

 

996,986

 

Provision for inventory obsolescence

 

 

84,087

 

 

 

401,938

 

Deferred income tax benefit (release of valuation allowance)

 

 

(4,745,333

)

 

 

—

 

Other operating activities, net

 

 

331,029

 

 

 

58,296

 

Changes in operating assets and liabilities, net of acquisition:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(1,023,948

)

 

 

(1,000,807

)

Inventory

 

 

(338,634

)

 

 

(5,453,877

)

Prepaid expenses and other current assets

 

 

1,577,096

 

 

 

460,631

 

Operating lease liability

 

 

(220,988

)

 

 

(52,984

)

Accounts payable

 

 

(1,594,552

)

 

 

588,835

 

Accrued expenses

 

 

1,687,221

 

 

 

268,079

 

Related party liabilities

 

 

(17,000

)

 

 

23,000

 

Net cash from operating activities

 

 

(2,381,286

)

 

 

(4,102,366

)

Cash flows from investing activities

 

 

 

 

 

 

 

 

Purchase of property and equipment

 

 

(46,074

)

 

 

(80,638

)

Acquisition of a business, net of cash acquired (Note 2)

 

 

(88,871,765

)

 

 

—

 

Net cash from investing activities

 

 

(88,917,839

)

 

 

(80,638

)

Cash flows from financing activities

 

 

 

 

 

 

 

 

Common stock issuances, net of taxes

 

 

5,514

 

 

 

(146,373

)

Preferred stock issuances

 

 

110,000,000

 

 

 

—

 

Preferred stock issuance costs

 

 

(825,775

)

 

 

—

 

Net cash from financing activities

 

 

109,179,739

 

 

 

(146,373

)

Net change in cash, cash equivalents, and restricted cash

 

 

17,880,614

 

 

 

(4,329,377

)

Cash, cash equivalents, and restricted cash, beginning of period

 

 

5,320,600

 

 

 

8,514,152

 

Cash, cash equivalents, and restricted cash, end of period

 

$

23,201,214

 

 

$

4,184,775

 

Supplemental disclosures of non-cash activities

 

 

 

 

 

 

 

 

Accretion of paid-in-kind preferred dividends

 

$

1,072,627

 

 

$

—

 

Fair value of contingent consideration liability established in the acquisition of a business (Note 2)

 

$

4,070,000

 

 

$

—

 

Deferred common stock issuance costs included in accrued expenses at the beginning of the year

 

$

238,517

 

 

$

—

 

Change in taxes withheld to cover net issuances of incentive stock awards included in accrued expenses at the beginning of the year

 

$

33,700

 

 

$

155,178

 
 

LAIRD SUPERFOOD, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)
 

 

 

As of

 

 

June 30, 2026

 

December 31, 2025

Assets

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash, cash equivalents, and restricted cash

 

$

23,201,214

 

 

$

5,320,600

 

Accounts receivable, net

 

 

10,783,385

 

 

 

3,899,205

 

Inventory

 

 

28,268,002

 

 

 

7,782,169

 

Prepaid expenses and other current assets

 

 

3,082,104

 

 

 

1,838,683

 

Total current assets

 

 

65,334,705

 

 

 

18,840,657

 

Property and equipment, net

 

 

2,722,198

 

 

 

41,203

 

Intangible assets, net

 

 

42,131,047

 

 

 

207,100

 

Goodwill

 

 

31,824,649

 

 

 

—

 

Right-of-use assets

 

 

3,703,181

 

 

 

128,877

 

Total assets

 

$

145,715,780

 

 

$

19,217,837

 

Liabilities, Mezzanine Equity, and Stockholders’ Equity

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

8,517,899

 

 

$

3,094,579

 

Accrued expenses

 

 

8,018,984

 

 

 

4,458,096

 

Related party liabilities

 

 

29,500

 

 

 

46,500

 

Contingent consideration

 

 

4,117,000

 

 

 

—

 

Lease liabilities, current portion

 

 

769,016

 

 

 

109,145

 

Total current liabilities

 

 

21,452,399

 

 

 

7,708,320

 

Lease liabilities

 

 

2,988,817

 

 

 

46,730

 

Total liabilities

 

 

24,441,216

 

 

 

7,755,050

 

Mezzanine equity

 

 

 

 

 

 

 

 

Series A preferred stock, $0.001 par value, 110,000 shares authorized and 110,000 shares issued and outstanding at June 30, 2026.

 

 

110,246,852

 

 

 

—

 

Total mezzanine equity

 

 

110,246,852

 

 

 

—

 

Stockholders’ equity

 

 

 

 

 

 

 

 

Common stock, $0.001 par value, 100,000,000 shares authorized at June 30, 2026 and December 31, 2025; 11,483,127 issued and 11,106,796 outstanding at June 30, 2026; and 11,071,096 issued and 10,694,765 outstanding at December 31, 2025.

 

 

11,107

 

 

 

10,695

 

Additional paid-in capital

 

 

122,441,277

 

 

 

122,822,613

 

Accumulated deficit

 

 

(111,424,672

)

 

 

(111,370,521

)

Total stockholders’ equity

 

 

11,027,712

 

 

 

11,462,787

 

Total liabilities, mezzanine equity, and stockholders’ equity

 

$

145,715,780

 

 

$

19,217,837

 
 

LAIRD SUPERFOOD, INC.

NON-GAAP FINANCIAL MEASURES

(unaudited) 
 

In this press release, we report adjusted EBITDA, which is a financial measure not required by, or presented in accordance with, accounting principles generally accepted in the United States of America (“GAAP”). The Company’s management uses non-GAAP financial measures, both internally and externally, to assess and communicate the financial performance of the Company. The Company defines adjusted EBITDA as net income (loss), adjusted to exclude: (1) depreciation and amortization, (2) stock-based compensation, (3) income taxes, (4) other income, and (5) expenses incurred in connection with the acquisition and integration of Navitas and Terrasoul. The Company believes adjusted EBITDA is useful to investors because it facilitates comparisons of its core business operations, excluding non-cash costs and non-recurring events, across periods on a consistent basis.

 

Management uses adjusted EBITDA internally in analyzing the Company’s financial results to assess operational performance and to determine the Company’s future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to adjusted EBITDA in assessing its performance and when planning, forecasting and analyzing future periods. The Company believes adjusted EBITDA is useful to investors and others to understand and evaluate the Company’s operating results and it allows for a more meaningful comparison between the Company’s performance and that of competitors. Our use of adjusted EBITDA has limitations as an analytical tool, and you should not consider this performance measure in isolation from or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are that adjusted EBITDA does not reflect, among other things: cash capital expenditures for assets underlying depreciation and amortization expense that may need to be replaced or for new capital expenditures; interest expense; income tax expense from continuing operations; our working capital requirements; the potentially dilutive impact of stock-based compensation; and the provision for income taxes. Other companies, including companies in our industry, may calculate adjusted EBITDA differently, which reduces its usefulness as a comparative measure.

 

Because of these limitations, you should consider adjusted EBITDA along with other financial performance measures, including Net Sales, net loss, cash and cash equivalents, restricted cash, net cash used in operating activities and our financial results presented in accordance with GAAP.

 

The following table presents a reconciliation of net income (loss), the most directly comparable financial measure stated in accordance with GAAP, to adjusted EBITDA, for each of the periods presented:

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2026

 

2025

 

2026

 

2025

Net loss

 

$

(1,805,081

)

 

$

(362,178

)

 

$

(54,151

)

 

$

(518,360

)

Adjusted for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,109,731

 

 

 

59,376

 

 

 

1,281,398

 

 

 

125,897

 

Stock-based compensation

 

 

280,537

 

 

 

488,576

 

 

 

652,489

 

 

 

996,986

 

Income tax (benefit) expense

 

 

(2,250

)

 

 

8,262

 

 

 

(4,727,289

)

 

 

20,873

 

Other income

 

 

(56,474

)

 

 

(45,561

)

 

 

(103,307

)

 

 

(120,009

)

Business combination and integration (a)

 

 

3,465,356

 

 

 

—

 

 

 

4,798,811

 

 

 

—

 

Adjusted EBITDA

 

$

2,991,819

 

 

$

148,475

 

 

$

1,847,951

 

 

$

505,387

 

(a) The Company incurred professional fees related to business combination and integration activities in the three and six months ended June 30, 2026.

 

 

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