SMPL swings to $186M loss on $331M impairments; revenue down 6.3%, restructuring underway

Filed July 9, 2026 · Period ending May 30, 2026 · Compared to 10-Q Jul 10, 2025 · ~2 min read

Key Changes

• high

  Operating income swung from $59.3M profit to $49.9M loss in Q3, driven by $82M in impairment charges (goodwill $38M, brands $44M). Year-to-date operating loss reached $225.6M versus $168.7M profit prior year, reflecting $331M total impairments.

  MD&A: Operating Results verify on EDGAR →
• high

  Company recorded $293M in brand impairments (OWYN $200M, Atkins $93M) and $38M goodwill impairment following sustained stock-price decline and market-cap deterioration. Quest brand tested but showed no impairment.

  Notes: Goodwill and Intangibles verify on EDGAR →
• high

  Revenue declined 6.3% to $357.0M, driven by Atkins distribution declines and OWYN velocity declines, partially offset by Quest volume growth. Company acknowledges declines could continue and is taking remedial actions.

  MD&A: Business Trends verify on EDGAR →