Mark Elzayed
CIO at Vestra Capital
The Calmer Co International Limited (ASX: CCO) has delivered record quarterly revenue of $2.44 million, supported by accelerating US wholesale demand and stronger Australian supermarket sales.
Its September 2026 quarterly results, released on 30 October, showed revenue increasing 42% from the preceding quarter. The company has also rescheduled its Q1 FY27 webinar to 10 November 2026, providing an opportunity to discuss its expanding commercial operations.
With sales momentum strengthening across multiple channels, can The Calmer Co translate its growing distribution network into sustainable profitability?
The September quarter demonstrated significant commercial progress across The Calmer Co's expanding distribution channels.
Wholesale and business-to-business revenue increased from $305,740 in June to $831,569, contributing approximately 34% of group sales.
Around 91% of wholesale revenue originated in the United States, where demand for premium kava ingredients, including carbon dioxide extracts, supported growth.
Total US revenue reached $1.20 million, accounting for approximately 49% of quarterly sales.
Kava extracts increased their contribution to group revenue from 16% to 26%.
This improving product mix offers opportunities to strengthen margins as demand for higher-value kava ingredients expands.
Importantly, sustained repeat orders could provide greater revenue visibility and support more efficient production planning.
Australian retail operations also delivered encouraging results.
Retail revenue increased 25% to $975,037, supported by stronger sales through Coles and Woolworths.
Sales through Coles increased 27%, while Woolworths sales grew 33% compared with the June quarter.
On 8 October, The Calmer Co confirmed an initial Coles order for Fiji Kava FZZR, its flavoured effervescent kava product.
The rollout was scheduled to commence during October across 583 Coles stores.
This expansion provides an opportunity to reach more consumers through an established supermarket network.
It could also improve brand recognition and increase sales across the broader Fiji Kava range.
The next commercial milestone will be demonstrating consistent consumer demand and retailer replenishment orders.
E-commerce generated $636,255 during the September quarter, representing approximately 26% of group revenue.
Amazon USA contributed $461,003, while direct-to-consumer channels generated $175,252.
The company has also secured an agreement with a US brokerage to support further retail distribution.
Together, these channels provide opportunities to reach additional customers without relying exclusively on supermarkets.
FY2026 revenue reached $8.12 million, increasing approximately 1% from $8.03 million in FY2025.
The statutory net loss narrowed to $3.81 million from approximately $3.99 million.
While annual profitability remains a challenge, stronger September-quarter revenue suggests improving momentum entering FY2027.
The Calmer Co is demonstrating progress in controlling expenditure while expanding its commercial operations.
Quarterly net operating cash outflows improved from $802,000 to $755,000.
Advertising expenditure declined 56% to $112,000, indicating greater cost discipline.
However, customer cash receipts totalled $1.79 million, compared with $1.88 million in June.
Cash reserves stood at $953,000 following a $1.21 million capital raising.
The company also secured an FJ$250,000 inventory financing facility, available from the December quarter.
These funding measures provide additional flexibility as the business pursues growth.
Nevertheless, continued improvement in operating cash flow will be important to reduce reliance on external funding.
Given its current losses, sustainable margins and cash generation remain more meaningful valuation measures than earnings multiples.
On 5 November, The Calmer Co confirmed that its Q1 FY27 webinar had been rescheduled from Friday, 6 November to Tuesday, 10 November 2026, at 10:00 am AEST.
Founder and chief executive Zane Yoshida will host the 60-minute presentation, followed by a live question-and-answer session.
The presentation released on 30 October remains unchanged.
Official webinar registration: https://thecalmerco.com/webinars/rJaRRe-q1fy27-investor-webinar
The session provides an opportunity to hear more about US wholesale demand, the Coles rollout, product expansion and progress towards cash flow breakeven.
What stands out to us is The Calmer Co's ability to increase quarterly revenue by 42% while expanding across US wholesale, Australian supermarkets and digital channels. The growing contribution from higher-value kava extracts provides opportunities for improved margins and stronger operating leverage. We see encouraging potential in the company's established distribution relationships, particularly as new products reach more consumers. However, sustained profitability requires better cash conversion and disciplined expenditure. The next decisive measure will be continued revenue growth alongside declining quarterly operating cash outflows.
The Calmer Co enters FY2027 with encouraging sales momentum, expanding distribution and a broader product offering.
Its growing US wholesale business and Australian supermarket presence provide credible opportunities for further revenue growth.
While liquidity and operating cash flow remain important considerations, improving cost discipline provides a foundation for progress.
The 10 November webinar and subsequent quarterly results will offer further insight into customer demand, margins and cash generation.
Ultimately, sustained sales growth combined with stronger cash conversion could move The Calmer Co closer to achieving sustainable profitability.
Mark Elzayed is a prominent Australian financial executive and portfolio strategist with over a decade of hands-on capital markets experience. Having successfully managed over $100M+ in FUM across volatile economic cycles, Mark founded Vestra Capital to democratize institutional-grade quantitative strategies and privileged ASX deal flow for Australian investors.
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