On this page of StockholderLetter.com we present the latest annual shareholder letter from Edible Garden AG Inc — ticker symbol EDBL. Reading current and past EDBL letters to shareholders can bring important insights into the investment thesis.
(GLEOH *DUGHQ $* ,QFRUSRUDWHG $QQXDO 5HSRUW
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
 • shareholder letter icon 5/21/2026 Letter Continued (Full PDF)
 • stockholder letter icon 7/2/2024 EDBL Stockholder Letter
 • stockholder letter icon 8/8/2025 EDBL Stockholder Letter
 • stockholder letter icon More "Agriculture & Farm Products" Category Stockholder Letters
 • Benford's Law Stocks icon EDBL Benford's Law Stock Score = 72


EDBL Shareholder/Stockholder Letter Transcript:

(GLEOH *DUGHQ $* ,QFRUSRUDWHG 
     $QQXDO 5HSRUW 


















 '/ 0 +'


1 %  12 !

/0    ,& %   #     
1 $2     3  4 560/ 
      !!    *  &" *#$  ' ",  2      " !   7 *      
  50  6 58    
   ) !  #& 9!   $ *  &  &,(:  3  &"$,  &) #  # "    

   /'  3 ' (  (/   
 (( &    "<3 *#  2#$,  =5.555  *   ! #  
A#  #& !    *, " #!    (( &    "<
 + 4     5)* /6 7
 >1 
 >1 A
 )'  3 ' (  '8(    '    0  (  +'    '+'4



&  "#   :% "  "< (# <          ) !  #&   ! # B $$8<& B& ! #! &    !!,  3 #!     &    &  ,$   5           ",     !  " .  C !           
&  "#   :% "  "< (# <          ) !  #&   ! &     ?,          $    *   ! *, !,#&       "   &                     '" #&)   " .  C !           
&  "#   :% "  "< (# < B             ) !  #&       #!   $   #$$   *   !   ?,        :    $   :%   "   &                      ",     !  '" #&)   "           ,  &)    
*  "   &)  / ( &  !         !,"  !       *        #        ) !  #&  B#!   ?,          $  !,"    *   ! 3 #&   /   #! :  & !,:+ "     !,"    $ &)   ?,   ( & !         *#! 
 5  #%!. C !           
&  "#   :% "  "< (# < B             ) !  #&   #! !,:(       $ "   & "#$$%  2  %  &   #"  2  ># #   $    ?,        :  !,:(      *, !,#&      ,$   5       ),$#   &  8
 ,  &)     *  "   &)  / ( &  !         !,"  !       *        #        ) !  #&  B#!   ?,        !,:(   !,"    $ ! .   C !           
&  "#   :% "  "< (# < B             ) !  #&   ! # $# )  #"" $  #      $  3 #& #"" $  #      $  3 # & &8#"" $  #      $  3 # !(#$$     *    &) " (*#&%3    #&  (  ) &)
)  B   " (*#&%.         &    &!    D$# )  #"" $  #      $  3E D#"" $  #      $  3E D!(#$$     *    &) " (*#&%E #&  D (  ) &) )  B   " (*#&%E  &  ,$   /:8/       



  &8#"" $  #      $  

 (  ) &) )  B   " (*#&%


  #&  (  ) &) )  B   " (*#&%3  &  "#   :% "  "< (# <          ) !  #&   #!  $ "    &      ,!       '  &      #&!    & *          " (*$% &) B    #&% & B      2 !  
#"" ,&  &) ! #& #  ! *  2     *, !,#&       "   &    #          '" #&)   " .   
&  "#   :% "  "< (# < B             ) !  #&   #!   $   #   *     & #&  #   ! #   &      ! (#&#) ( & 9! #!! !!( &             "  2 & !!      !  &   &#$ " &   $  2  
  &#&" #$   *    &) ,&      "   &  5  :          # :#& !8 '$ %  "       . . . 6/F/ :   :%       ) !      *,:$ " #"" ,&  &)    (   #  *  *#        !!,     ! #,      *   .

  ! ",     ! #     ) !      *, !,#&       "   &  / :          " 3  &  "#   :% "  "< (# < B             &#&" #$ ! #  ( & !          ) !  #&   &"$,     &       $ &)    $ " 
    "    "   &    #&          *  2  ,!$%  !!,     &#&" #$ ! #  ( & !.  
&  "#   :% "  "< (# < B       #&%       !        "    "   &! #     ! #  ( & !   #    ?,     #   " 2  % #&#$%! !     &" &  2 8:#!   " (* &!#   &   "  2   :% #&%   
      ) !  #& 9!  ' ",  2      "  !  ,  &)       $ 2#&    " 2  % *      *, !,#&     G / 5. 5>8  : .  
&  "#   :% "  "< (# < B             ) !  #&   ! # !  $$ " (*#&%  #!     &    &  ,$   /:8/         '" #&)   "  . C !             
   #))  )#   (# <   2#$,         2   &) #&  & &82   &) " (( &  ?,  %   $  :% & &8#   $ #  ! " (*,    :%       &"         *  "  #  B  "      " (( &  ?,  % B#!
$#!  ! $   & 4,&   53 /5/       $#!  :,! & !!  #%          ) !  #& 9! ( !    " & $% " (*$     ! " &    !"#$ ?,#     3 B#! #**  ' (#  $% =6.6 ( $$  &.
 !    @# "  / 3 /5/F3       ) !  #&   #     36 F ! #  !      (( &    "<3 =5.555  *#  2#$,  *   ! #  3  , ! #&  &).

      &!          ) !  #& 9!     &   2  *  '% ! #  ( &        ! /5/F #&&,#$ (    &)    !  "<  $   ! #   
&"  *  #    :%       &"   &    #           !    (  58H.





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A  & B  ,!         (! D   :$   #   &3E     D  (*#&%3E DB 3E D,!3E    D , 3E B  #          &)       :$   #   &     &"  *  #    #&    ! !,:!   #   !3 ,&$ !!    
" &  '       B !    ?,   !.



  !  &&,#$    *      &     (   58H  " & # &!     B#  8$  < &)  ! #  ( & !.  $$  ! #  ( & !           #&  ! #  ( & !        !    "#$   #" !3  &"$,  &)  ! #  ( & !
  )#   &)   ,    , ,      !,$ !       *  #   &!  #&     &#&" #$  * !    &3  :,! & !!  !  #  )%  #&   *$#&!  #&    ,    :+ "  2 !        , ,     *  #   &!3  #       B#  8$  < &)
! #  ( & !.      B   !  D#&  " *#  3E  D: $  2 3E  D"#&3E  D" &  &, 3E  D" ,$ 3E  D !  (#  3E  D '* " 3E  D    "#! 3E  D , ,  3E  D) #$3E  D &  & 3E  D(#%3E  D( )  3E  D*$#&3E
D*   &  #$3E  D*  + "   &!3E  D!  ,$ 3E  D!  #  )%3E  D!   2 3E  DB $$3E  DB ,$ 3E  #&   ! ( $#    '*  !!  &!  #    &  &           &   %     B#  8$  < &)  ! #  ( & !.    ! 
   B#  8$  < &) ! #  ( & ! #   !,:+ "     "   # &   !

shareholder letter icon 5/21/2026 Letter Continued (Full PDF)
 

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