i-Tail reports Q3 profit slip, but eyes rebound with new deals

i-Tail Corporation posted a 6.4% year-over-year (YoY) rise in revenue for Q3 2025 to THB 4.7 billion ($128.8M/€120.5M), primarily driven by increased demand from key customers and global brands, particularly in the US and EU markets. 

This growth was partially offset by lower THB sales due to currency appreciation, the Bangkok-based firm says. 

Meanwhile, profit for the period decreased 16.8% YoY to THB 812 million ($22.3M/€20.8M) from THB 976 million ($26.7M/€25M) last year. 

Gross profit also slipped 9.1% YoY but rose 7.2% quarter-on-quarter (QoQ) to THB 1.2 billion ($32.9M/€30.8M). 

Regional and category breakdown 

By region, the Americas recorded the biggest share in sales totaling THB 2.6 billion ($71.2M/€66.7M), but the European market showed the biggest quarterly growth of 30.8% to THB 790 million ($21.6M/€20.3M).

By category, cat food had the strongest sales of THB 2.98 billion ($81.6M/€76.4M), but pet treats gained the highest growth, reaching approximately 42% QoQ. YoY, the pet treats segment increased 62.1% driven by higher demand.

Nine-month performance

For the first 9 months of FY2025, i-Tail’s revenue rose 3% YoY to THB 13.4 billion ($367.1M/€343.6M), supported by new business wins including projects in the US worth $45 million (€42.1M) as well as the first shipments to new importer brands in the UK and Europe.

During the same period, the company also engaged with 31 new customers across 16 countries and secured a new “Award letter” from a private-label client in Q3 for several new products.

On the other hand, gross profit dropped 10.2% YoY to THB 3.3 billion ($90M/€85M) with a gross profit margin of 24.9%, which also dropped 3.7% YoY.

Net profit dropped a further 22.2% YoY to THB 2.18 billion ($60M/€56M). Earnings per share stood at THB 0.73 ($0.02/€0.02).

Yearly outlook

i-Tail maintained its guidance for FY2025 for 3% to 5% of sales growth and a gross profit margin between 23%-25% “mainly due to [the] impact of US tariff[s].”

The company expects that its newly secured commercial contract projects with retailers, new products for a private-label client in the US and the new shipments to Europe will “contribute incremental revenue in late Q4 2025.”

“Overall, management remains confident that these initiatives will drive continued international presence, strengthen the premium product mix and deliver sustainable returns throughout the coming quarters,” says the company.