COOK: Revenue fell sharply, but FY26 guidance midpoints held and Q4 growth is expected

What happened

COOK reported Q3 revenue of $74.7 million, down 40.4% from a year earlier, and a $28.5 million net loss. Its Adjusted EBITDA loss, a measure of operating performance excluding certain items, was $3.3 million. FY26 revenue and Adjusted EBITDA ranges narrowed but kept their midpoints, and management expects growth to resume in Q4.

Confirmed

Global impact / market context

The steep revenue decline and losses point to near-term pressure on sales and operating results. Keeping FY26 guidance midpoints unchanged signals that management has not lowered its central full-year expectations, but the forecast depends partly on Q4 growth materializing and does not erase the reported weakness.

Analyst inference

For investors, the key contrast is between a sharp year-over-year drop in Q3 revenue and unchanged FY26 guidance midpoints. If Q4 growth arrives, it could support the annual outlook; if not, weaker sales could weigh on revenue and prolong losses. The summary gives no share-price reaction.

Analyst inference

What to watch

1. Check the next reported quarter for revenue growth, since management specifically expects growth to resume in Q4 after the 40.4% year-over-year decline. Analyst inference
2. Compare later FY26 revenue and Adjusted EBITDA results with the narrowed guidance ranges and unchanged midpoints to see whether the outlook holds. Analyst inference
3. Watch whether the net loss and Adjusted EBITDA loss shrink; the supplied summary gives no cash-flow figures to show how losses affect cash available. Analyst inference

Evidence

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