NASDAQ$OTLY
Oatly Group AB · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Oatly Group AB reported first quarter 2026 financial results on April 29, 2026.
Oatly reported Q1 2026 revenue of $228.3 million, up 15.6% year-over-year (8.1% constant currency), with gross margin expanding to 33.4%. Net loss narrowed slightly to $12.0 million while Adjusted EBITDA turned positive at $5.0 million. Sold volume grew 5.6% to 152.6 million liters.
- Revenue reached $228.3 million, a 15.6% increase from $197.5 million in Q1 2025, driven by Europe & International and North America.
- Gross margin improved 188 basis points to 33.4% due to supply chain efficiencies and favorable product mix.
- Adjusted EBITDA swung to a $5.0 million profit from a $3.7 million loss year-over-year.
- Company reiterated full-year 2026 guidance of 3-5% constant currency revenue growth and $25-35 million Adjusted EBITDA.
Headline financials
Revenue & EPS history
Oatly · Revenue · Quarterly
$228M
Revenue by segment
Oatly · $228M total across 3 segments · Q1 2026
- Europe & International$137M—59.9%
- North America$62.2M—27.2%
- Greater China$29.3M—12.8%
Forward guidance
Company reiterated 2026 full-year outlook despite Middle East conflict impacts.
Tailwinds
- Constant currency revenue growth expected +3% to +5%
- Adjusted EBITDA expected $25 million to $35 million
- Capex expected $20 million to $30 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q1 2026
-4.1%
Avg return
Earnings day
-7.0%
Avg return
5 days after
-7.1%
Avg return
30 days after
41%
7 / 17 earnings
Positive
+17.0%
Q1 2024
Best reaction
-24.4%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.0% | — | — | |
| Q4 2025 | +10.7% | +9.7% | -7.7% | |
| Q3 2025 | -3.5% | -5.0% | -20.9% | |
| Q2 2025 | +0.5% | -2.6% | +16.8% | |
| Q3 2024 | -15.0% | -25.6% | -24.4% | |
| Q1 2024 | +17.0% | +23.0% | +7.0% | |
| Q4 2023 | -9.3% | -13.3% | -26.5% | |
| Q3 2023 | -10.0% | -11.7% | +85.0% | |
| Q2 2023 | -24.4% | -29.5% | -42.4% | |
| Q1 2023 | +4.7% | -2.3% | -9.3% | |
| Q4 2022 | +5.3% | +18.0% | +10.7% | |
| Q3 2022 | -16.7% | -20.4% | -44.9% | |
| Q2 2022 | -9.9% | +1.3% | -19.4% | |
| Q1 2022 | +3.2% | -12.9% | +16.0% | |
| Q4 2021 | -6.3% | -17.8% | -22.3% | |
| Q3 2021 | -13.9% | -15.0% | -31.5% | |
| Q2 2021 | -5.6% | -7.4% | +0.6% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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