last updated Aug'26@ 57
FY: Jan–Dec@ 57
As of

Stores (PH company-owned)

591
YoY▲17.5%
AOP597−1.0%
VP634−6.8%

Average daily sales per store

382$
YoY▲5.7%
AOP393−2.9%
VP410−6.9%

Gross margin

61.1%
YoY▲0.2pp
AOP61.4%−0.4pp
VP64.3%−3.2pp

Store EBITDA margin

27.0%
YoY▲0.6pp
AOP27.9%−0.9pp
VP33.1%−6.1pp

EBITDA margin

9.5%
YoY▲2.5pp
AOP10.9%−1.5pp
VP18.6%−9.1pp

Working capital days

(19)days
YoY▼13.8%
AOP(18.7)−1.6%
VP(19.8)+4.0%

Cash & runway

Cash balance23.5$mn+0.3/mo · avg of 3Runwayn/acash positive

Net sales

7$ mn · Aug ’26
0510$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’244.64.853.6
Oct ’2455.45.74.1
Nov ’245.25.55.84.1
Dec ’245.76.26.54.6
Jan ’255.45.15.84.2
Feb ’254.74.55.23.8
Mar ’255.65.46.24.4
Apr ’255.75.46.34.5
May ’2565.76.64.7
Jun ’255.65.46.24.3
Jul ’255.75.46.34.5
Aug ’255.65.66.44.6
Sep ’255.75.66.54.6
Oct ’256.46.37.35
Nov ’256.76.47.45.2
Dec ’257.67.28.45.7
Jan ’266.66.97.55.4
Feb ’265.76.16.74.7
Mar ’2677.27.95.6
Apr ’2677.385.7
May ’267.37.68.46
Jun ’266.97.17.85.6
Jul ’2677.27.95.7
Aug ’2677.38.15.6

Stores (PH company-owned)

591Aug ’26
0200400600PLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’24423436450351
Oct ’24430443458358
Nov ’24436449466364
Dec ’24443456474371
Jan ’25450441482377
Feb ’25457448490383
Mar ’25464455498389
Apr ’25472462506394
May ’25479470514400
Jun ’25487478522406
Jul ’25495485530412
Aug ’25503493538417
Sep ’25511501546423
Oct ’25520509554430
Nov ’25528517562436
Dec ’25535525570443
Jan ’26543549578450
Feb ’26551556586457
Mar ’26558564594464
Apr ’26565571602472
May ’26572578610479
Jun ’26579584618487
Jul ’26585591626495
Aug ’26591597634503

Average daily sales per store

382$ · Aug ’26
0200400$PLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’24360365369343
Oct ’24378394399366
Nov ’24397407413374
Dec ’24417436443403
Jan ’25384372390360
Feb ’25367362380341
Mar ’25392383403364
Apr ’25403392413383
May ’25406394415380
Jun ’25380376397353
Jul ’25369362383351
Aug ’25361363385354
Sep ’25370373395360
Oct ’25396402427378
Nov ’25426415442397
Dec ’25456445473417
Jan ’26395403417384
Feb ’26372392406367
Mar ’26405414429392
Apr ’26411424440403
May ’26410426443406
Jun ’26400407423380
Jul ’26386392408369
Aug ’26382393410361

Cups sold

2.8mn cups · Aug ’26
024mn cupsPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualVPprior yrmonths
numbers
periodactualVPprior yr
Sep ’2422.11.6
Oct ’242.12.41.8
Nov ’242.22.41.8
Dec ’242.42.72
Jan ’252.32.51.8
Feb ’2522.21.6
Mar ’252.42.61.9
Apr ’252.42.61.9
May ’252.52.82
Jun ’252.32.61.8
Jul ’252.32.61.9
Aug ’252.32.72
Sep ’252.32.72
Oct ’252.632.1
Nov ’252.83.12.2
Dec ’253.13.42.4
Jan ’262.73.12.3
Feb ’262.32.72
Mar ’262.93.22.4
Apr ’262.83.22.4
May ’2633.42.5
Jun ’262.83.22.3
Jul ’262.83.22.3
Aug ’262.83.22.3

Gross profit

4.3$ mn · Aug ’26
0246$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’242.82.93.12.1
Oct ’2433.33.52.4
Nov ’243.13.33.62.4
Dec ’243.53.842.8
Jan ’253.23.13.62.5
Feb ’252.92.73.32.3
Mar ’253.43.33.92.6
Apr ’253.53.33.92.7
May ’253.63.54.12.8
Jun ’253.43.33.92.6
Jul ’253.53.342.7
Aug ’253.43.44.12.7
Sep ’253.53.44.12.8
Oct ’253.93.84.63
Nov ’254.13.94.73.1
Dec ’254.64.45.33.5
Jan ’264.14.24.83.2
Feb ’263.53.74.32.9
Mar ’264.34.45.13.4
Apr ’264.24.45.13.5
May ’264.54.75.43.6
Jun ’264.24.453.4
Jul ’264.34.45.13.5
Aug ’264.34.55.23.4

Gross margin

61.1%Aug ’26
0%20%40%60%%PLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’2460.2%61.0%61.8%59.0%
Oct ’2460.1%61.1%61.9%59.1%
Nov ’2460.0%61.1%62.0%59.8%
Dec ’2460.8%61.2%62.1%59.8%
Jan ’2560.5%60.1%62.2%59.9%
Feb ’2560.8%60.1%62.4%60.0%
Mar ’2560.1%60.3%62.5%59.8%
Apr ’2560.5%60.2%62.6%60.3%
May ’2560.3%60.2%62.7%59.9%
Jun ’2561.1%60.3%63.0%60.0%
Jul ’2561.1%60.3%63.1%59.5%
Aug ’2560.8%60.4%63.2%60.0%
Sep ’2561.0%60.5%63.3%60.2%
Oct ’2560.5%60.6%63.4%60.1%
Nov ’2561.4%60.7%63.6%60.0%
Dec ’2560.6%60.5%63.7%60.8%
Jan ’2661.0%61.0%63.8%60.5%
Feb ’2660.8%60.9%63.9%60.8%
Mar ’2660.8%61.0%63.9%60.1%
Apr ’2661.0%60.9%63.9%60.5%
May ’2661.6%61.2%64.0%60.3%
Jun ’2660.8%61.0%64.0%61.1%
Jul ’2661.3%61.3%64.1%61.1%
Aug ’2661.1%61.4%64.3%60.8%

Store EBITDA

1.9$ mn · Aug ’26
0123$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’241.21.31.40.8
Oct ’241.31.51.61
Nov ’241.31.51.61
Dec ’241.51.71.91.1
Jan ’251.41.31.71
Feb ’251.21.11.50.9
Mar ’251.41.41.81.1
Apr ’251.51.41.91.1
May ’251.61.421.2
Jun ’251.51.41.91
Jul ’251.51.41.91.1
Aug ’251.51.421.1
Sep ’251.51.421.2
Oct ’251.71.62.31.3
Nov ’251.81.72.41.3
Dec ’2521.92.71.5
Jan ’261.81.82.41.4
Feb ’261.61.62.21.2
Mar ’261.91.92.61.4
Apr ’261.922.61.5
May ’262.12.12.71.6
Jun ’261.91.92.61.5
Jul ’26222.61.5
Aug ’261.922.71.5

Store EBITDA margin

27.0%Aug ’26
0%10%20%30%%PLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’2425.3%26.5%28.0%23.4%
Oct ’2425.5%26.9%28.4%23.6%
Nov ’2425.5%26.9%28.6%24.2%
Dec ’2426.2%27.1%28.8%23.9%
Jan ’2525.9%25.0%29.1%24.5%
Feb ’2526.5%25.0%29.2%24.3%
Mar ’2525.2%25.1%29.6%24.5%
Apr ’2526.6%25.3%29.8%25.2%
May ’2525.9%25.1%30.0%24.6%
Jun ’2526.8%25.4%30.5%24.3%
Jul ’2526.6%25.5%30.7%24.4%
Aug ’2526.3%25.8%30.9%24.8%
Sep ’2526.5%25.9%31.1%25.3%
Oct ’2526.3%25.9%31.4%25.5%
Nov ’2527.3%26.2%31.8%25.5%
Dec ’2526.6%26.2%31.9%26.2%
Jan ’2626.5%27.0%32.1%25.9%
Feb ’2627.2%26.8%32.4%26.5%
Mar ’2626.8%26.9%32.4%25.2%
Apr ’2627.2%27.0%32.5%26.6%
May ’2628.4%27.3%32.6%25.9%
Jun ’2627.6%27.2%32.7%26.8%
Jul ’2628.0%27.5%32.9%26.6%
Aug ’2627.0%27.9%33.1%26.3%

EBITDA

0.7$ mn · Aug ’26
012$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’240.20.30.5(0)
Oct ’240.30.50.70.1
Nov ’240.40.50.70.1
Dec ’240.50.70.90.2
Jan ’250.40.30.70.2
Feb ’250.20.10.60
Mar ’250.40.30.90.2
Apr ’250.50.30.90.2
May ’250.50.410.2
Jun ’250.40.30.90.1
Jul ’250.40.30.90.2
Aug ’250.40.310.2
Sep ’250.40.310.2
Oct ’250.60.51.30.3
Nov ’250.80.61.30.4
Dec ’250.90.81.60.5
Jan ’260.60.71.30.4
Feb ’260.40.51.10.2
Mar ’260.70.81.50.4
Apr ’260.70.81.50.5
May ’260.90.91.60.5
Jun ’260.70.71.40.4
Jul ’260.70.71.50.4
Aug ’260.70.81.50.4

EBITDA margin

9.5%Aug ’26
0%10%20%%PLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’244.5%6.7%9.7%-0.4%
Oct ’246.2%9.3%12.2%2.4%
Nov ’247.3%9.4%12.4%2.9%
Dec ’248.7%11.3%14.4%5.3%
Jan ’257.3%5.1%12.8%3.6%
Feb ’255.1%2.3%10.8%0.6%
Mar ’257.1%6.0%14.0%4.1%
Apr ’258.4%5.8%14.1%5.1%
May ’258.8%6.8%15.1%5.3%
Jun ’257.6%5.5%14.3%2.8%
Jul ’257.4%5.4%14.6%3.6%
Aug ’256.9%5.9%14.9%4.3%
Sep ’257.1%6.1%15.1%4.5%
Oct ’258.8%8.2%17.2%6.2%
Nov ’2511.2%8.7%17.6%7.3%
Dec ’2511.5%10.5%19.2%8.7%
Jan ’269.3%10.1%17.7%7.3%
Feb ’267.1%7.8%16.0%5.1%
Mar ’2610.0%10.6%18.5%7.1%
Apr ’2610.2%10.7%18.5%8.4%
May ’2611.8%11.4%19.1%8.8%
Jun ’2610.4%10.3%18.1%7.6%
Jul ’2610.7%10.3%18.4%7.4%
Aug ’269.5%10.9%18.6%6.9%

Net income

0.2$ mn · Aug ’26
01$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’24(0.1)(0)0.1(0.3)
Oct ’24(0)0.10.3(0.2)
Nov ’2400.20.3(0.2)
Dec ’240.10.30.6(0.1)
Jan ’250(0.1)0.4(0.2)
Feb ’25(0.1)(0.3)0.2(0.3)
Mar ’250(0)0.5(0.1)
Apr ’250.1(0.1)0.5(0.1)
May ’250.100.6(0.1)
Jun ’250(0.1)0.5(0.2)
Jul ’250(0.1)0.5(0.2)
Aug ’25(0)(0.1)0.5(0.1)
Sep ’25(0)(0.1)0.5(0.1)
Oct ’250.10.10.8(0)
Nov ’250.30.10.90
Dec ’250.40.31.10.1
Jan ’260.20.20.90
Feb ’26(0)00.6(0.1)
Mar ’260.20.310
Apr ’260.30.310.1
May ’260.40.41.10.1
Jun ’260.30.30.90
Jul ’260.30.30.90
Aug ’260.20.31(0)

Working capital days

(19)days · Aug ’26
-20-18-16-14daysPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’24(14.5)(15.4)(16.3)(13.2)
Oct ’24(15)(15.8)(16.4)(13.2)
Nov ’24(14.9)(15.8)(16.6)(13.8)
Dec ’24(15)(15.8)(16.7)(12.8)
Jan ’25(15.6)(16.2)(16.9)(13.4)
Feb ’25(15.2)(16)(17)(13.9)
Mar ’25(16.2)(16.6)(17.2)(14.2)
Apr ’25(15.6)(16.7)(17.3)(13.7)
May ’25(16.2)(16.5)(17.5)(14.6)
Jun ’25(15.7)(16.8)(17.7)(13.8)
Jul ’25(15.6)(16.8)(17.8)(14.5)
Aug ’25(16.7)(17)(18)(14.9)
Sep ’25(16.2)(17.4)(18.1)(14.5)
Oct ’25(16.6)(17.7)(18.3)(15)
Nov ’25(17.1)(17.5)(18.4)(14.9)
Dec ’25(17.6)(17.7)(18.6)(15)
Jan ’26(17.6)(18)(18.7)(15.6)
Feb ’26(16.7)(18)(18.9)(15.2)
Mar ’26(17.6)(18.1)(19)(16.2)
Apr ’26(17.8)(18.4)(19.2)(15.6)
May ’26(18.1)(18.3)(19.3)(16.2)
Jun ’26(18.1)(18.7)(19.5)(15.7)
Jul ’26(18.4)(18.6)(19.6)(15.6)
Aug ’26(19)(18.7)(19.8)(16.7)

Inventory days

19.8days · Aug ’26
01020daysSep ’24Jan ’25May ’25Sep ’25Jan ’26Aug ’26Actualprior yrmonths
numbers
periodactualprior yr
Sep ’2422.323.6
Oct ’2421.422.9
Nov ’2421.822.8
Dec ’2421.122.7
Jan ’2522.123.7
Feb ’2520.722.3
Mar ’2521.322.2
Apr ’2520.721.4
May ’2520.322.3
Jun ’2520.421
Jul ’252021.6
Aug ’2520.121.2
Sep ’2520.822.3
Oct ’2520.121.4
Nov ’2520.121.8
Dec ’2519.621.1
Jan ’2620.622.1
Feb ’2620.120.7
Mar ’2619.221.3
Apr ’261920.7
May ’2619.720.3
Jun ’2620.420.4
Jul ’2619.220
Aug ’2619.820.1

Cash balance

23.5$ mn · Aug ’26
02040$ mnPLAN →Sep ’24Feb ’25Jul ’25Dec ’25Aug ’26Feb ’27ActualAOPVPprior yrmonths
numbers
periodactualAOPVPprior yr
Sep ’2421.422.422.25.8
Oct ’2421.322.422.45.5
Nov ’2421.322.622.65.2
Dec ’2421.422.8234.9
Jan ’2521.421.223.34.7
Feb ’2521.320.923.34.4
Mar ’2521.320.823.74.3
Apr ’2521.420.724.14.2
May ’2521.520.524.64.2
Jun ’2521.520.32522
Jul ’2521.420.225.421.8
Aug ’2521.22025.821.7
Sep ’2521.219.926.321.4
Oct ’2521.219.92721.3
Nov ’2521.519.927.821.3
Dec ’252220.228.921.4
Jan ’262222.229.721.4
Feb ’2621.922.230.321.3
Mar ’2622.122.431.221.3
Apr ’2622.322.832.221.4
May ’2622.723.233.221.5
Jun ’2623.123.534.121.5
Jul ’2623.423.835.121.4
Aug ’2623.524.23621.2

Net burn

0.1$ mn · Aug ’26
051015$ mnSep ’24Jan ’25May ’25Sep ’25Jan ’26Aug ’26Actualprior yrmonths
numbers
periodactualprior yr
Sep ’24(0.2)(0.4)
Oct ’24(0.1)(0.3)
Nov ’24(0)(0.3)
Dec ’240.1(0.2)
Jan ’250(0.2)
Feb ’25(0.1)(0.3)
Mar ’250(0.1)
Apr ’250.1(0)
May ’250.1(0.1)
Jun ’25017.8
Jul ’25(0.1)(0.2)
Aug ’25(0.1)(0.1)
Sep ’25(0)(0.2)
Oct ’25(0)(0.1)
Nov ’250.4(0)
Dec ’250.40.1
Jan ’260.10
Feb ’26(0.2)(0.1)
Mar ’260.20
Apr ’260.30.1
May ’260.40.1
Jun ’260.40
Jul ’260.2(0.1)
Aug ’260.1(0.1)