Menē Inc. Reports Financial Results for the First Quarter 2026.

TORONTO- May 27, 2026 - Menē Inc. (TSX-V: MENE) (US: MENEF) (“Menē” or the “Company”), today announced financial results for the first quarter ended March 31, 2026. All amounts are expressed in Canadian dollars unless otherwise noted.

FINANCIAL HIGHLIGHTS

• IFRS Revenue of $6.3 million, a decrease of $1.0 million (14%) year-over-year (“YoY”). 
• Gross profit of $2.6 million, with a gross profit margin of 41%, an increase of $0.9 million YoY. 
• Net income of $1.2 million for the quarter. 
• Total metal weight of 28 kilograms sold during the quarter, consisting of 2,894 units of jewelry.

OPERATIONAL HIGHLIGHTS

• Introduced 11 new product designs throughout the quarter. 
• Sales to returning customers accounted for 68% of total sales for the quarter. 
• Featured in Bloomberg, Business of Fashion and Air Mail, among others. 
• Registered over 47,200 independent customer reviews with an average rating of 4.9 out of 5 on mene.com/reviews since inception. 

IFRS CONSOLIDATED INCOME STATEMENT DATA & KEY PERFORMANCE INDICATORS 

Notes:

1. The Company’s financial statements for fiscal years 2025 and 2024 were audited by an external assurance firm. 
2. Revenue adjusted by adding back returns, discounts, and orders being fulfilled. See Non-IFRS Measures for a full reconciliation. 
3. Operating income (loss) adjusted by removing the impact of non-cash expenses, consisting of depreciation & amortization, stock-based compensation, income taxes, and interest. See Non-IFRS Measures for a full reconciliation. 
4. Inventory in kilograms of gold, calculated by dividing the total CAD inventory value by the CAD gold spot price per gram at each quarter-end. 
5. Units sold only include pure metal jewelry and do not include accessories.  

STATEMENT FROM CEO VINCENT GLADU:

Revenues for the first quarter of 2026 were $6.3 million, a decrease of $1.0 million (14%) year-over-year (“YoY”). Despite Net Sales increasing by 14% for this period YoY, revenues were impacted by the timing of our annual March sale, which concluded in the final days of the quarter, resulting in a greater portion of revenues expected to be recognized in Q2 2026. In addition, results for Q1 2025 benefited from favorable refund provision estimate adjustments that did not recur this quarter. The weaker U.S. Dollar YoY also played a role. While we saw our average order value increase by 60% YoY, it was offset by a 31% decrease in orders and a 33% decline in new customer acquisitions. Our operational restructuring efforts continued generating efficiencies and cost savings during the quarter, resulting in increases in gross profit of $0.9 million YoY to $2.6 million, and in net income of $1.4 million YoY, to $1.2 million. Our gross profit margin was higher than average at 41%, in large part due to the YoY increase in the market price of metal relative to our inventory’s weighted average cost.  

In the past few years, we have partnered with artists, brands and businesses that align with Menē’s ethos. By the time this letter is published, we will have launched our newest collaboration with Nick Foulkes, a renowned British author, historian, and journalist widely regarded for his writing on luxury, culture, style, and society.  The Nick Foulkes x Menē collection debuts for Father’s Day and is designed in partnership with Mr. Foulkes. Blending Menē’s philosophy of purity and intrinsic value with Nick Foulkes’ distinctive worldview of refinement and cultivated living, the collection introduces a series of meticulously crafted accessories and jewelry in pure 24-karat gold and pure platinum (https://mene.com/nick-foulkes). True to Menē’s philosophy, the collection celebrates enduring style, craftsmanship, and the quiet luxury of objects made to last generations. 

¹Calculated as the total metal weight sold, multiplied by the respective gold and platinum spot prices at the time of publishing the original press release for this milestone. 

Non-IFRS Measures

This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company’s performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company’s operating results.

Non-IFRS Adjusted Revenue

Non-IFRS Adjusted Revenue is a non-IFRS measure. The Company adjusts its revenue by adding back the value of jewelry returned by customers, revenue from orders not yet delivered, and discounts given to customers. These adjustments are made to assess gross revenue before deducting these items per IFRS. The closest comparable IFRS measure is revenue.

Non-IFRS Adjusted Income (Loss)

Non-IFRS Adjusted Income (Loss) is a non-IFRS measure, calculated as total comprehensive income (loss), excluding depreciation and amortization, stock-based compensation, accretion, loss on debt retirement, revaluation of metal loan, translation gain or loss, unrealized foreign exchange gains or losses, and other non-recurring expenses. The closest comparable IFRS measure is total comprehensive income (loss). 

Adjusted EBITDA

Adjusted EBITDA is calculated as total operating income (loss), excluding depreciation and amortization, stock-based compensation, and other non-recurring expenses. The closest comparable IFRS measure is total operating income (loss). 

Tangible Common Equity

Tangible Common Equity is a non-IFRS measure, calculated as total shareholders’ equity excluding intangible assets.  

 For a full definition and reconciliation of non-IFRS financial measures to their nearest IFRS equivalents, please see the section entitled “Non-IFRS Financial Measures” in the Company’s MD&A for the period ended March 31, 2026.  

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may purchase jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by combining innovative technology, timeless design, and pure precious metals to create pieces that endure as a store of value. 

For more information about Menē, visit mene.com. 

Media and Investor Relations Inquiries:

Sean Ty
Chief Financial Officer
Menē Inc.
ir@mene.com
+1 289 748 3702

Cautionary Note Regarding Forward-Looking Information:

This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the business plans and goals of the Company for the current financial year and 2027; strategic, growth and marketing plans; plans related to revenue growth, the potential to reinvest the Company’s capital in opportunities to grow the business, and the Company’s focus of investing time and capital in its brand equity. 

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict or control the negative effects of tariffs and global trading patterns; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics and other infectious diseases presenting as major health issues and impacting the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale, and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; inflation risks; risks related to changing consumer preferences; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.