Net Revenue

+9% (Q1 2026: $647.8 million vs. Q1 2025: $591.9 million)

Net revenue increased by 9% due to the integration of acquisitions and strategic improvements in key markets such as Europe and Americas wholesale, which offset softer performance in other segments. " "

Product Sales

+11% (Q1 2026: $622.8 million vs. Q1 2025: $562.9 million)

Product sales climbed approximately 11% as enhanced distribution channels and new business segments drove demand, reflecting growth initiatives that built on previous period momentum " [N/A].

Profitability

EBITDA/Earnings before income tax shifted from +$11.2 million (profit) in Q1 2025 to –$37.8 million (loss) and net earnings moved from a profit of $13.0 million to a loss of –$32.9 million in Q1 2026

Profitability deteriorated sharply due to a reversal in operating performance; higher operating expenses, unfavorable derivative adjustments, asset impairment charges, and adverse business mix factors reversed prior profitability gains [N/A][N/A].

Operating Cash Flow

From positive $121.7 million (previous period) to –$73.4 million in Q1 2026

Operating cash flow weakened significantly as increased working capital requirements—such as larger inventory outflows and heightened receivables—combined with other operational pressures, offset improvements seen in earlier periods. "

Cash and Cash Equivalents

Declined from $187,696 thousand to $151,192 thousand

Cash and cash equivalents dropped due to the cumulative effects of lower operating cash inflows, higher capital expenditures and investment outflows, as well as negative impacts from foreign exchange effects when compared to the previous period. "

Total Assets

Modestly higher at $2,863,425 thousand in Q1 2026 (compared to prior period levels)

Total assets increased modestly as reinvestments and consolidation of recent acquisitions contributed to an expanded asset base, even though liquidity metrics such as cash balances were under pressure. " "