In This Article:
-
Fourth Quarter Revenue: $2.8 million, up from $1.9 million in Q4 2023.
-
Full Year Revenue: $10.7 million, compared to $8.1 million in 2023.
-
Fourth Quarter Gross Margin: 26%, down from 33% in Q4 2023.
-
Adjusted Fourth Quarter Gross Margin: 30%, compared to 33% in the prior year period.
-
Full Year Gross Margin: 34%, compared to 35% in 2023.
-
Adjusted Full Year Gross Margin: 37%, up from 35% in 2023.
-
Fourth Quarter Net Loss: $852,000, compared to a net loss of $701,000 in Q4 2023.
-
Full Year Net Loss: $2.8 million, comparable to 2023.
-
Fourth Quarter Adjusted EBITDA Loss: $561,000, compared to a loss of $427,000 in Q4 2023.
-
Full Year Adjusted EBITDA Loss: $1.3 million, improved from a loss of $1.7 million in 2023.
-
Cash and Accounts Receivable (as of Dec 31, 2024): Approximately $1.1 million.
-
Inventory (as of Dec 31, 2024): Approximately $1.5 million.
-
Growth Financing (February 2025): Secured $3 million to support scaling production capacity.
Release Date: March 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Barfresh Food Group Inc (NASDAQ:BRFH) reported record full-year revenue for 2024 and expects continued growth with revenue guidance between 35% and 55% for 2025.
-
The company successfully addressed manufacturing capabilities by onboarding two new strategic partners, which is expected to bring them to full manufacturing capacity by the end of Q2 2025.
-
Barfresh Food Group Inc (NASDAQ:BRFH) expanded its product portfolio with the launch of Pop and Go, 100% juice freeze pops, targeting a larger lunch market opportunity.
-
The company secured its financial foundation through non-dilutive financing, including non-recourse litigation financing and a $1.5 million line of credit.
-
Barfresh Food Group Inc (NASDAQ:BRFH) has built a robust sales network with 95% coverage across the US, indicating significant potential for growth in customer acquisition.
Negative Points
-
The transition to new co-manufacturers created near-term cost pressures in Q4 2024, impacting financial performance.
-
Fourth-quarter results were affected by higher supply chain expenses due to sourcing products from multiple locations.
-
Gross margin for Q4 2024 decreased to 26% from 33% in the same period of 2023, indicating margin pressure.
-
Net loss for Q4 2024 increased to $852,000 compared to a net loss of $701,000 in Q4 2023.
-
The company faced challenges with product availability for some customers due to production issues, testing customer relationships.