Blue Star Foods Corp. reported results for the first quarter of 2026 with revenue of $250259 and a net loss attributable to common stockholders of $735313; diluted loss per share was $(0.00), an improvement versus the year-ago quarter.
Financial Highlights
- Revenue was $250,259 for Q1 2026, down from $960,758 in the year-ago quarter ( (74.0%) ).
- Net income: Net loss attributable to common stockholders was $735,313 for Q1 2026 versus a net loss of $1,199,930 in Q1 2025 (reduced loss YoY).
- Diluted EPS was $(0.00) for Q1 2026 versus $(0.08) for Q1 2025 (basic & diluted; loss per share improved YoY).
Business Highlights
- Net revenue declined roughly 74% year-over-year, driven by a significant drop in poundage sold that reduced top-line volumes.
- The company continues to focus on food service distributors with supplemental sales to wholesalers, retailers and seafood distributors.
- Blue Star maintains multiple premium brands, including Blue Star, Oceanica, Pacifika and Crab & Go, and offers diversified products such as soft‑shell crab and Little Cedar Farms fingerlings.
- Operations rely on imports of processed crab meat from six Southeast Asian plants via co‑packing relationships, including two affiliated suppliers.
- Management recorded inventory allowance adjustments and has initiated legal action against an Indonesian supplier over alleged rancid shipments.
Original SEC Filing:
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