Edible Garden AG
EDBLNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $0.70 Prior regular-session close from the quote source.
- $0.70–$0.80 Regular-session low and high so far today.
- 85.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $0.65–$670.50 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own EDBL if Edible Garden is a small controlled-environment agriculture (CEA) grower whose ability to create durable value depends on restoring positive unit economics (gross margin) at scale and converting that into operating leverage before cash runs.
EDBL price history
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Investment thesis
What must happen next
Local demand for Edible Garden's CEA produce can sustain a stable revenue base that allows time to fix unit economics.HoldingMateriality: High
Revenue has been in a relatively narrow band: $11.55M (2022), $14.05M (2023), $13.857M (2024), $12.81M (2025) — showing an existing local customer base and recurring sales. If revenue is stable, management can focus on improving yields/COGS and achieving operating leverage; if revenue falls, fixes to unit economics won't matter.
Watch: Loss of key retail/wholesale contracts or a move by large conventional suppliers to undercut prices in local markets.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue has been in a relatively narrow band: $11.55M (2022), $14.05M (2023), $13.857M (2024), $12.81M (2025) — showing an existing.
Open source ↗Durable profitability requires Edible Garden to restore positive unit economics (gross margin) via higher yields, lower input and energy cost per unit, or improved crop mix.HoldingMateriality: High
Gross profit was positive in 2022 ($364k), 2023 ($822k) and 2024 ($2.312M) but moved to negative in 2025 (-$204k), demonstrating both potential and volatility in unit economics. Gross margin determines whether the farm can ever support SG&A and fixed costs; persistent negative gross margins make operating profitability impossible without subsidy or permanent price increases.
Watch: Rising energy or fertilizer costs that materially increase COGS per unit.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross profit was positive in 2022 ($364k), 2023 ($822k) and 2024 ($2.312M) but moved to negative in 2025 (-$204k), demonstrating.
Open source ↗Even if gross margins return positive, Edible Garden must achieve operating leverage (fixed cost absorption and SG&A control) so gross profit converts into improving operating_income.WeakeningMateriality: Medium
Operating losses were large but relatively stable 2022–2024 (≈ -$9M range) before widening to -$15.8M in 2025, indicating that operating cost structure dominates profits and any margin recovery must offset substantial fixed/SG&A costs. Without operating leverage, positive gross margins won't translate into free cash flow — the company will remain dependent on outside capital.
Watch: Management increases spending on expansion, marketing, or new facility builds before unit economics are proven.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating losses were large but relatively stable 2022–2024 (≈ -$9M range) before widening to -$15.8M in 2025, indicating that operating.
Open source ↗The company's survival to prove the operating thesis depends on reducing operating cash burn or accessing additional financing at reasonable terms.WeakeningMateriality: Medium
Operating cash flow has been negative and large across years: -$9.185M (2022), -$8.531M (2023), -$8.516M (2024), -$11.804M (2025) — showing an increasing cash burn in 2025. Persistent negative operating cash flow forces dilutive capital raises or insolvency; a timely financing or cash‑flow improvement is a prerequisite for value creation.
Watch: Capital markets tightening so the company cannot raise cash without extreme dilution.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow has been negative and large across years: -$9.185M (2022), -$8.531M (2023), -$8.516M (2024), -$11.804M (2025) — showing.
Open source ↗Recent positive equity indicates the company has obtained financing that temporarily strengthens the balance sheet and provides runway to execute operational fixes.StrengtheningMateriality: Medium
Stockholders' equity was negative in earlier years (e.g., -$2.18M in 2022. Available equity/capital gives the company time to implement margin improvements; without it adjustments must be immediate or the firm faces insolvency/dilution.
Watch: Further financings at very dilutive terms that destroy existing equity value.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Stockholders' equity was negative in earlier years (e.g., -$2.18M in 2022.
Open source ↗
Full investment case & evidence
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Original research
Local demand for Edible Garden's CEA produce can sustain a stable revenue base that allows time to fix unit economics. If revenue is stable, management can focus on improving yields/COGS and achieving operating leverage; if revenue falls, fixes to unit economics won't matter.
Durable profitability requires Edible Garden to restore positive unit economics (gross margin) via higher yields, lower input and energy cost per unit, or improved crop mix. Gross margin determines whether the farm can ever support SG&A and fixed costs; persistent negative gross margins make operating profitability impossible without subsidy or permanent price increases.
Even if gross margins return positive, Edible Garden must achieve operating leverage (fixed cost absorption and SG&A control) so gross profit converts into improving operating_income. Without operating leverage, positive gross margins won't translate into free cash flow — the company will remain dependent on outside capital.
The company's survival to prove the operating thesis depends on reducing operating cash burn or accessing additional financing at reasonable terms. Persistent negative operating cash flow forces dilutive capital raises or insolvency; a timely financing or cash‑flow improvement is a prerequisite for value creation.
Recent positive equity indicates the company has obtained financing that temporarily strengthens the balance sheet and provides runway to execute operational fixes. Available equity/capital gives the company time to implement margin improvements; without it adjustments must be immediate or the firm faces insolvency/dilution.
All standing thesis claims
Original report summary
Edible Garden is a small controlled-environment agriculture (CEA) grower whose ability to create durable value depends on restoring positive unit economics (gross margin) at scale and converting that into operating leverage before cash runs.
Bull case and bear case
Bull case and bear case for Edible Garden AG
Where the evidence on Edible Garden AG disagrees: Mixed on the latest evidence (Nov 9, 2026). Of its 5 thesis points, 1 strengthening, 2 holding and 2 weakening.
Bull case: what the evidence supports
Local demand for Edible Garden's CEA produce can sustain a stable revenue base that allows time to fix unit economics.
Durable profitability requires Edible Garden to restore positive unit economics (gross margin) via higher yields, lower input and energy cost per unit, or improved crop mix.
Recent positive equity indicates the company has obtained financing that temporarily strengthens the balance sheet and provides runway to execute operational fixes.
Bear case: what the evidence questions
Even if gross margins return positive, Edible Garden must achieve operating leverage (fixed cost absorption and SG&A control) so gross profit converts into improving operating_income.
The company's survival to prove the operating thesis depends on reducing operating cash burn or accessing additional financing at reasonable terms.
Thesis-Break Engine
Thesis-break watch · Edible Garden AG
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedUnregistered sale of equity securities.
Edible Garden AG filed an SEC 8-K on 2026-11-06: Unregistered sale of equity securities. It is a dated development that tests the current thesis.
- MixedCompleted an acquisition or disposition of assets.
Edible Garden AG filed an SEC 8-K on 2026-10-30: Completed an acquisition or disposition of assets. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Edible Garden AG filed an SEC 8-K on 2026-10-22: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Loss of key retail/wholesale contracts or a move by large conventional suppliers to undercut prices in local markets.
- Rising energy or fertilizer costs that materially increase COGS per unit.
- Management increases spending on expansion, marketing, or new facility builds before unit economics are proven.
- Capital markets tightening so the company cannot raise cash without extreme dilution.
- Further financings at very dilutive terms that destroy existing equity value.
EDBL news
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Financial statements
EDBL income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.