SMPLNasdaqFood and Kindred ProductsUS GAAP · USD

Simply Good Foods Co

Simply Good Foods Co is a U.S.-based consumer packaged food and beverage company focused on nutritious snacking and meal replacements. Its portfolio is built around the Quest, Atkins, and OWYN brands, which include protein bars, ready-to-drink shakes, sweet and salty snacks, and other better-for-you products sold primarily in North America.

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Revenue1,451m USD
+9.0 %y/y
Operating profit (EBIT)157m USD
−24.0 %y/y
EBIT margin10.8%
−4.7 ppy/y
Net income104m USD
−25.6 %y/y
Free cash flow158m USD
−24.8 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05001,0001,500m USD2020: 817 m USD2020: EBIT 78 m USD20202021: 1,006 m USD2021: EBIT 174 m USD20212022: 1,169 m USD2022: EBIT 203 m USD20222023: 1,243 m USD2023: EBIT 205 m USD20232024: 1,331 m USD2024: EBIT 206 m USD20242025: 1,451 m USD2025: EBIT 157 m USD20251,451157
RevenueOperating profit (EBIT)
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Business

Share of revenue
Protein bars35 %

Shelf-stable bars sold under Quest and Atkins for high-protein snacking.

RTD protein shakes and beverages30 %

Ready-to-drink protein shakes and beverages, including plant-based OWYN products.

Sweet and salty snacks20 %

Protein chips, cookies, confectionery, and other snack formats under Quest and Atkins.

Meal replacements and other products15 %

Atkins meal replacement and related better-for-you food offerings.

Customers

The company sells to mass retail, grocery, club, drug, small-format, convenience, specialty, and e-commerce channels. Its end consumers are people seeking protein-rich, low-carb, low-sugar, or plant-based snacks and beverages, including weight-management and active-lifestyle shoppers.

Retail channel partners

Walmart, Amazon, club, grocery, drug, convenience, and specialty retailers buy branded products for resale and shelf traffic.

Weight-management consumers

Buy Atkins products for low-carbohydrate eating and meal replacement use cases.

Active-lifestyle protein consumers

Buy Quest products for high-protein snacks, bars, chips, and shakes.

Plant-based and allergen-conscious consumers

Buy OWYN beverages for plant-based protein and top-nine-allergen-tested attributes.

Strategy

The company’s strategy is to expand its wellness platform through innovation, organic growth, and selective acquisitions. It also aims to deepen retailer penetration, broaden distribution, and introduce new products across protein, low-carb, and plant-based snacking occasions.

Brand and product innovationMedium term

New flavors, formats, and claims help sustain consumer interest in a crowded snacking category.

Distribution expansionShort term

Broader shelf presence and e-commerce availability increase trial and repeat purchases.

Portfolio building through acquisitionMedium term

Acquisitions can add adjacent brands and accelerate entry into new nutrition niches.

Geography

Q1/2026

Simply Good Foods sells primarily in North America, with the United States as its core market. The company also distributes through e-commerce and retail channels that can extend reach beyond physical store shelves, but the business remains centered on U.S. consumer demand and retailer relationships.

North America98 %
Other countries (US filing)2.1 %

Share of the revenue the company reports by geography.

Risks

The business depends on consumer preferences for nutritional snacking, so shifts in diet trends, nutrition science, or perceptions of ingredients can affect demand. It also faces retailer concentration, input-cost volatility, and intense competition from branded and private-label snack makers, all of which can pressure shelf space, pricing, and product economics.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Changing consumer preferences and nutrition trends1Retailer concentration2Competitive pressure3Ingredient and packaging inflation4Health and ingredient perception risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Changing consumer preferences and nutrition trendsImpact: HighLikelihood: High

    Demand depends on consumers viewing protein, low-carb, and better-for-you snacks as desirable.

    ExposureQuestAtkinsOWYN brand demand
  2. Retailer concentrationImpact: HighLikelihood: High

    A substantial majority of sales come from a limited number of retailers, increasing bargaining and volume risk.

    Exposure: Walmart and Amazon are the largest customers

  3. Competitive pressureImpact: MediumLikelihood: High

    The nutritional snacking market is fragmented and includes branded and private-label competitors.

    ExposureShelf spaceE-commerce rankingPricing
  4. Ingredient and packaging inflationImpact: MediumLikelihood: Medium

    The company relies on contract manufacturing and purchased inputs, so cost swings can affect margins and pricing.

    ExposureRaw ingredientsPackagingShippingTolling
  5. Health and ingredient perception riskImpact: MediumLikelihood: Medium

    Negative views on sweeteners, seed oils, or contaminants can reduce appeal or trigger legal/regulatory scrutiny.

    Exposure: Product formulations and marketing claims

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Accounting

Judgemental items
Revenue recognition at point in time

Delivery or pickup timing can shift revenue between periods and affect quarterly comparability.

Impact: Net sales

Trade promotion accruals

Management estimates rebates, discounts, and slotting fees that reduce revenue and receivables.

Impact: Net sales and accounts receivable

Acquisition accounting and goodwill

Brand acquisitions can create goodwill and intangible assets that may later require impairment testing.

Impact: Balance sheet and impairment expense

Contract manufacturing and inventory-related estimates

Purchased ingredients, packaging, and tolling charges affect cost recognition and inventory valuation.

Impact: Gross margin and inventory

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Last updated: 24/09/2026

Simply Good Foods Co (SMPL) Revenue, Earnings & Financials 2025 – Clarifo