Executive Summary
Maison Solutions Inc (MSS) delivered a revenue growth profile in QQ1 2026 underpinned by year-over-year expansion, with reported revenue of 27.17 million USD and a YoY increase of 60.49%. However, the quarter also revealed persistent profitability pressures, as net income came in negative at -1.54 million USD and EPS was -0.08. Gross profit of 6.56 million USD yielded a margin of approximately 24.15%, but a substantial operating cost base left operating income at a marginal 0.18 million USD (0.68% of revenue) and EBITDA of 0.18 million USD, implying very limited operating leverage. The QoQ revenue decline of about 20.45% suggests seasonality or the early-stage impact of ongoing investments, while the strong YoY momentum indicates underlying demand in the California grocery segment. Management commentary is not captured in the provided transcript, and there is no formal forward guidance in the data. Given the lack of cash-flow detail and balance-sheet specifics, the investment risk remains elevated until cost bases are better aligned with revenue growth and cash generation improves.
Key Performance Indicators
QoQ: -20.45% | YoY:60.49%
QoQ: -13.03% | YoY:211.93%
QoQ: -83.47% | YoY:107.57%
QoQ: -252.36% | YoY:44.50%
QoQ: -237.93% | YoY:42.86%
Key Insights
Revenue: 27,165,134 USD; YoY +60.49%; QoQ -20.45%\nGross Profit: 6,559,134 USD; Gross Margin 24.15%; YoY +211.93%; QoQ -13.03%\nOperating Income: 184,215 USD; Operating Margin 0.68%; YoY +107.57%; QoQ -83.47%\nEBITDA: 184,215 USD; EBITDA Margin 0.68%\nNet Income: -1,541,533 USD; Net Margin -5.67%; YoY +44.50%; QoQ -252.36%\nEPS: -0.08 USD; Diluted EPS -0.08; YoY +42.86%; QoQ -237.93%\nWeighted Average Shares: 19,690,476; Weighted Average Diluted Shares: 21,864,389\nNotes: Peer comparison unavail...
Financial Highlights
Revenue: 27,165,134 USD; YoY +60.49%; QoQ -20.45%\nGross Profit: 6,559,134 USD; Gross Margin 24.15%; YoY +211.93%; QoQ -13.03%\nOperating Income: 184,215 USD; Operating Margin 0.68%; YoY +107.57%; QoQ -83.47%\nEBITDA: 184,215 USD; EBITDA Margin 0.68%\nNet Income: -1,541,533 USD; Net Margin -5.67%; YoY +44.50%; QoQ -252.36%\nEPS: -0.08 USD; Diluted EPS -0.08; YoY +42.86%; QoQ -237.93%\nWeighted Average Shares: 19,690,476; Weighted Average Diluted Shares: 21,864,389\nNotes: Peer comparison unavailable in the dataset; no balance-sheet or cash-flow figures provided.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
27.17M |
60.49% |
-20.45% |
| Gross Profit |
6.56M |
211.93% |
-13.03% |
| Operating Income |
184.22K |
107.57% |
-83.47% |
| Net Income |
-1.54M |
44.50% |
-252.36% |
| EPS |
-0.08 |
42.86% |
-237.93% |
Management Commentary
Note: The dataset does not include an earnings call transcript for QQ1 2026. Consequently, no management quotes or verbatim remarks are available to anchor the highlights. Key themes to monitor in any forthcoming call (if released) would include: (1) strategy execution around store footprint and online/offline integration, (2) cost containment and operating-leverage initiatives, (3) demand trends in California grocery and perishable categories, and (4) competitive dynamics and supply-chain resilience. In the absence of transcript data, assessment relies on the reported P&L and quarterly progression.
No transcript data available for QQ1 2026.
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No transcript data available for QQ1 2026.
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Forward Guidance
No formal forward guidance is provided in the supplied data. Given the current mix, MSS would likely be evaluated on the trajectory of operating leverage and cash generation. If MSS can modestly expand gross margin (through mix optimization or procurement efficiencies) while stabilizing or reducing SG&A as a percentage of revenue, the path to modest profitability could improve. Alternatively, continued investment in growth initiatives (store openings, online platform enhancements, private label development) could suppress near-term margins but position the company for higher long-term revenue. Investors should monitor: (1) sequential SG&A as a % of revenue, (2) capex cadence and store productivity, (3) online/delivery channel contribution, and (4) working capital dynamics.