Barfresh Financials
Barfresh (BRFH) reported $20.0M in revenue over the twelve months to Jun 30, 2026, up 82.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Barfresh is growing sales, but working-capital strain and lower gross profit per dollar are blocking self-funded growth.
Operating cash burn was smaller than the operating loss even as gross margin fell to21.9% and current liabilities reached$11.0M ; the cash-flow improvement is coming from working-capital timing, not from healthier unit economics. That matters because short-term balance-sheet support can make losses look less cash-hungry than the underlying margin structure really is.
The latest year shows growth quality weakening: the company reached its highest revenue, yet each sales dollar produced only
The balance sheet looks liquidity-tight rather than heavily term-levered: cash was only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Barfresh's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Barfresh scores -6.58, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($20.4M) relative to total liabilities ($11.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Barfresh passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Barfresh reported a net loss of $2.7M while operations used $1.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Barfresh reported an operating loss of $3.4M against $217K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Barfresh generated $14.2M in revenue in fiscal year 2025. This represents an increase of 32.6% from the prior year.
Barfresh's EBITDA was -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.6% from the prior year.
Barfresh reported -$2.7M in net income in fiscal year 2025. This represents an increase of 4.6% from the prior year.
Barfresh earned -$0.17 per diluted share (EPS) in fiscal year 2025. This represents an increase of 10.5% from the prior year.
Cash & Balance Sheet
Barfresh recorded an outflow of $1.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 21.6% from the prior year.
Barfresh held $325K in cash against $470K in long-term debt as of fiscal year 2025, with $11.0M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
Barfresh's gross margin was 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 12.3 percentage points from the prior year.
Barfresh's operating margin was -24.2% in fiscal year 2025, reflecting core business profitability. This is up 1.7 percentage points from the prior year.
Barfresh's net profit margin was -19.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.4 percentage points from the prior year.
Barfresh's ROE was -202.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 286.2 percentage points from the prior year.
Capital Allocation
Barfresh invested $128K in research and development in fiscal year 2025. This represents a decrease of 3.0% from the prior year.
Barfresh invested $123K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 132.1% from the prior year.
Not reported for fiscal year 2025.
BRFH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M-16.4% | $5.6M+3.9% | $5.4M+28.1% | $4.2M+160.4% | $1.6M-44.5% | $2.9M+5.1% | $2.8M-23.4% | $3.6M |
| Cost of Revenue | $4.9M+5.6% | $4.6M-12.7% | $5.3M+96.6% | $2.7M+139.4% | $1.1M-44.9% | $2.0M-1.4% | $2.1M-13.4% | $2.4M |
| Gross Profit | -$150K-114.5% | $1.0M+562.2% | $156K-89.9% | $1.6M+206.7% | $506K-43.8% | $900K+23.5% | $729K-42.1% | $1.3M |
| R&D Expenses | $37K+54.2% | $24K-46.7% | $45K+36.4% | $33K+6.5% | $31K+63.2% | $19K-42.4% | $33K-36.5% | $52K |
| SG&A Expenses | $794K+5.2% | $755K-18.1% | $922K+9.2% | $844K+25.4% | $673K-9.9% | $747K+20.9% | $618K-12.3% | $705K |
| Operating Income | -$1.5M-247.9% | -$436K+72.2% | -$1.6M-502.3% | -$260K+70.0% | -$868K-17.6% | -$738K+10.2% | -$822K-64.4% | -$500K |
| Interest Expense | $77K+234.8% | $23K-84.9% | $152K+406.7% | $30K+150.0% | $12K-47.8% | $23K-23.3% | $30K+130.8% | $13K |
| Net Income | -$1.9M-181.5% | -$661K+13.4% | -$763K-163.1% | -$290K+67.0% | -$880K-15.6% | -$761K+10.7% | -$852K-66.1% | -$513K |
| EPS (Diluted) | -$0.12-200.0% | -$0.04+20.0% | -$0.05-150.0% | -$0.02+66.7% | -$0.06-20.0% | -$0.05+16.7% | -$0.06-100.0% | -$0.03 |
Not reported in any period shown, so not listed: Income Tax.
BRFH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.7M-14.2% | $14.8M+15.6% | $12.8M+88.8% | $6.8M+80.4% | $3.8M-29.4% | $5.3M+60.8% | $3.3M-12.0% | $3.8M |
| Current Assets | $3.8M-38.4% | $6.2M+45.9% | $4.2M-25.4% | $5.7M+74.3% | $3.3M-32.2% | $4.8M+76.3% | $2.7M-11.9% | $3.1M |
| Cash & Equivalents | $324K-82.2% | $1.8M+461.2% | $325K-82.8% | $1.9M+165.6% | $712K-62.0% | $1.9M+696.6% | $235K-41.4% | $401K |
| Inventory | $2.2M+19.7% | $1.8M+8.4% | $1.7M+55.0% | $1.1M-41.7% | $1.8M+63.3% | $1.1M-24.8% | $1.5M+94.8% | $770K |
| Accounts Receivable | $1.1M-52.1% | $2.3M+16.5% | $2.0M-21.4% | $2.5M+351.7% | $551K-63.2% | $1.5M+80.8% | $829K-50.2% | $1.7M |
| Total Liabilities | $12.8M-2.7% | $13.2M+14.4% | $11.5M+135.9% | $4.9M+183.4% | $1.7M-32.5% | $2.5M-7.0% | $2.7M+15.7% | $2.4M |
| Current Liabilities | $5.3M-7.3% | $5.8M-47.7% | $11.0M+142.7% | $4.5M+175.2% | $1.7M-32.6% | $2.5M-6.3% | $2.6M+17.9% | $2.2M |
| Long-Term Debt | $480K-0.6% | $483K+2.8% | $470K+42.4% | $330K+378.3% | $69K-28.9% | $97K-21.8% | $124K-17.9% | $151K |
| Total Equity | -$84K-105.0% | $1.7M+26.2% | $1.3M-30.8% | $1.9M-6.2% | $2.0M-26.6% | $2.8M+382.5% | $578K-58.8% | $1.4M |
| Retained Earnings | -$68.8M-2.8% | -$67.0M-1.0% | -$66.3M-1.2% | -$65.6M-0.4% | -$65.3M-1.4% | -$64.4M-1.2% | -$63.6M-1.4% | -$62.8M |
Not reported in any period shown, so not listed: Goodwill.
BRFH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$669K+71.9% | -$2.4M-569.8% | $507K+184.8% | -$598K+44.1% | -$1.1M-111.3% | -$506K+26.1% | -$685K-13800.0% | $5K |
| Capital Expenditures | $317K-50.9% | $646K+697.5% | $81K+55.8% | -$52K-21.2% | $66K+135.7% | $28K+250.0% | -$8K-86.0% | $57K |
| Free Cash Flow | -$986K+67.4% | -$3.0M-810.8% | $426K+165.5% | -$650K+42.7% | -$1.1M-112.5% | -$534K+22.9% | -$693K-1232.7% | -$52K |
| Investing Cash Flow | -$317K+50.9% | -$646K+50.5% | -$1.3M-2607.7% | $52K+178.8% | -$66K-135.7% | -$28K-450.0% | $8K+114.0% | -$57K |
| Financing Cash Flow | -$514K-111.4% | $4.5M+688.7% | -$769K-144.6% | $1.7M+7000.0% | -$25K-101.2% | $2.2M+324.9% | $511K+630.0% | $70K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BRFH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -3.2%-21.5pp | 18.3%+15.5pp | 2.9%-33.8pp | 36.7%+5.5pp | 31.1%+0.4pp | 30.7%+4.6pp | 26.2%-8.5pp | 34.6% |
| Operating Margin | -32.2%-24.5pp | -7.7%+21.1pp | -28.9%-22.7pp | -6.2%+47.3pp | -53.4%-28.2pp | -25.2%+4.3pp | -29.5%-15.7pp | -13.8% |
| Net Margin | -39.5%-27.8pp | -11.7%+2.3pp | -14.1%-7.2pp | -6.9%+47.3pp | -54.1%-28.2pp | -26.0%+4.6pp | -30.6%-16.5pp | -14.1% |
| Return on Equity | N/A | -39.4%+18.0pp | -57.4%-42.3pp | -15.1%+27.9pp | -43.0%-15.7pp | -27.3%+120.1pp | -147.4%-110.8pp | -36.6% |
| Return on Assets | -14.6%-10.2pp | -4.5%+1.5pp | -5.9%-1.7pp | -4.3%+19.1pp | -23.4%-9.1pp | -14.3%+11.4pp | -25.7%-12.1pp | -13.6% |
| Current Ratio | 0.71-0.4x | 1.07+0.7x | 0.38-0.9x | 1.25-0.7x | 1.970.0x | 1.96+0.9x | 1.04-0.4x | 1.39 |
| Debt-to-Equity | N/A | 0.29-0.1x | 0.35+0.2x | 0.17+0.1x | 0.030.0x | 0.03-0.2x | 0.21+0.1x | 0.11 |
| FCF Margin | -20.9%+32.8pp | -53.8%-61.6pp | 7.9%+23.2pp | -15.4%+54.5pp | -69.8%-51.6pp | -18.2%+6.6pp | -24.9%-23.4pp | -1.4% |
Note: The current ratio is below 1.0 (0.38), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Barfresh Ranks
Frequently Asked Questions
What is Barfresh's annual revenue?
Barfresh (BRFH) reported $14.2M in total revenue for fiscal year 2025. This represents a 32.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Barfresh's revenue growing?
Barfresh (BRFH) revenue grew by 32.6% year-over-year, from $10.7M to $14.2M in fiscal year 2025.
Is Barfresh profitable?
No, Barfresh (BRFH) reported a net income of -$2.7M in fiscal year 2025, with a net profit margin of -19.0%.
What is Barfresh's EBITDA?
Barfresh (BRFH) had EBITDA of -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Barfresh have?
As of fiscal year 2025, Barfresh (BRFH) had $325K in cash and equivalents against $470K in long-term debt.
What is Barfresh's gross margin?
Barfresh (BRFH) had a gross margin of 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Barfresh's operating margin?
Barfresh (BRFH) had an operating margin of -24.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Barfresh's net profit margin?
Barfresh (BRFH) had a net profit margin of -19.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Barfresh's return on equity (ROE)?
Barfresh (BRFH) has a return on equity of -202.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Barfresh's free cash flow?
Barfresh (BRFH) recorded an outflow of $1.8M in free cash flow during fiscal year 2025. This represents a 21.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Barfresh's operating cash flow?
Barfresh (BRFH) recorded an outflow of $1.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Barfresh's total assets?
Barfresh (BRFH) had $12.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Barfresh's capital expenditures?
Barfresh (BRFH) invested $123K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Barfresh spend on research and development?
Barfresh (BRFH) invested $128K in research and development during fiscal year 2025.
What is Barfresh's current ratio?
Barfresh (BRFH) had a current ratio of 0.38 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Barfresh's debt-to-equity ratio?
Barfresh (BRFH) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Barfresh's return on assets (ROA)?
Barfresh (BRFH) had a return on assets of -21.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Barfresh's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Barfresh (BRFH) held $325K in cash, cash equivalents and investments, and reported an operating cash outflow of $1.7M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Barfresh's Altman Z-Score?
Barfresh (BRFH) has an Altman Z-Score of -6.58, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Barfresh's Piotroski F-Score?
Barfresh (BRFH) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Barfresh's earnings high quality?
Barfresh (BRFH) reported a net loss of $2.7M while operations used $1.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Barfresh cover its interest payments?
Barfresh (BRFH) reported an operating loss of $3.4M against $217K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Barfresh?
Barfresh (BRFH) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.