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Barfresh Food Group, Inc. - BRFH STOCK NEWS

Welcome to our dedicated page for Barfresh Food Group news (Ticker: BRFH), a resource for investors and traders seeking the latest updates and insights on Barfresh Food Group stock.

Barfresh Food Group Inc develops, manufactures, and distributes ready-to-blend frozen beverages, including smoothies, shakes, and frappes for restaurant chains and the foodservice industry. The company's proprietary, patented system uses portion-controlled pre-packaged beverage ingredients that deliver freshly made frozen beverages that are quick, cost-efficient, and without waste. Barfresh provides both a single-serve solution and a bulk format solution, ideal for high-volume locations. It has seven flavors available as part of its standard line: vanilla shake, Caribbean smoothie, triple berry smoothie, caramel macchiato frappe, strawberry banana smoothie, mocha frappe, and mango burst smoothie. The company also has the development capabilities to deliver custom flavors.

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Barfresh has significantly expanded its production capacity by adding two new co-manufacturing locations.

These facilities are strategically situated in the Mid-West and East Coast, enabling the company to better serve its growing clientele across various channels. The new capacity includes the ability to produce 25 million additional bottling units annually for Barfresh's Twist & Go products, effectively more than doubling the company's overall production capacity.

CEO Riccardo Delle Coste emphasized that the increased capacity will support recent and upcoming customer acquisitions, particularly in the education sector. Delle Coste also highlighted the addition of new management team members and the introduction of new products as key factors for anticipated sales growth and improved profit margins in fiscal year 2024 and beyond.

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Barfresh Food Group (Nasdaq: BRFH) announced the appointment of Tony Grossi as Vice President of Sales. Grossi, bringing over 25 years of experience in food and beverage sales, will oversee all sales efforts at Barfresh, including its expanding sales network. His notable tenure includes roles at BakeMark, Performance Foodservice Group, and SK Food Group, where he successfully increased revenue and client bases. This hire follows a recent executive addition aimed at enhancing Barfresh's supply chain and co-manufacturing capabilities, positioning the company for significant sales growth in fiscal year 2024 and beyond. CEO Riccardo Delle Coste highlighted the strategic importance of this appointment amid a pivotal growth phase for the company. Grossi expressed confidence in leveraging Barfresh's product portfolio and expanded network to drive substantial revenue gains.

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Barfresh, a provider of frozen, ready-to-blend, and ready-to-drink beverages, announced its latest expansion in the education sector. The company secured 542 new school locations across multiple states, catering to over 390,000 students for the 2024-2025 school term. This is part of a larger initiative, with over 3,100 new school locations acquired in the past month, representing over 2.2 million students. Barfresh attributes this growth to strategic national broker coverage, increased production capacity, and reintroduction of its 100% juice concentrate offering. CEO Riccardo Delle Coste highlighted the company's ongoing efforts to ensure product supply and exceptional service levels, projecting record fiscal year 2024 revenue and margin expansion.

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Barfresh Food Group, a provider of frozen, ready-to-blend and ready-to-drink beverages, announced its participation in the Spring MicroCap Rodeo Conference on June 6, 2024, in New York City. The company's management team is scheduled to present at 9:00 AM Eastern Time on that day. For those unable to attend in person, the presentation will be available online. Additionally, Barfresh will host one-on-one meetings with approved investors throughout the conference. More details and registration options are available on the MicroCap Rodeo website.

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Barfresh Food Group (Nasdaq: BRFH) reported its first quarter 2024 results, showing a record revenue of $2.8 million, a 35% increase year-over-year. The company also achieved its first positive Adjusted EBITDA of $53,000, up from a loss of $544,000 in Q1 2023. Gross margins improved slightly to 41.4% from 40.9%. The net loss reduced to $449,000 from $889,000, driven by increased revenue, margin improvement, and cost-saving measures. The company expanded its sales broker network, adding over 2,600 schools, and aims to achieve its highest annual revenue in fiscal year 2024. Despite ongoing legal disputes with a former supplier, Barfresh remains optimistic about its growth trajectory.

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Barfresh Food Group Inc. announced an agreement with the largest regional sales broker in the Southeast, adding 82 new sales people to represent its product line across various customer segments. This move is expected to significantly boost the company's sales footprint, drive customer momentum, and lead to projected record revenue in fiscal year 2024.

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Barfresh Food Group Inc. continues to expand its presence in the education channel by securing 443 new school customer locations across multiple states, serving over 360,000 students. This growth in customer acquisition is expected to drive record revenue and margin expansion in fiscal year 2024. The company's CEO expressed optimism about the long-term growth potential fueled by new hires, expanded product offerings, and an increased sales network.

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Barfresh Food Group Inc. announced the appointment of Marko Matla as Vice President of Supply Chain & Co-Manufacturing. Matla brings over 25 years of experience in supply chain management and will focus on optimizing operations, collaborating with production partners, and launching new products to improve customer service and increase sales in fiscal year 2024.

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Barfresh Food Group Inc. (Nasdaq: BRFH) will host a business update call on May 15, 2024, to discuss frozen, ready-to-blend, and ready-to-drink beverages. The call will be accessible via phone and webcast, with a telephonic playback option available. Interested parties can dial in or log onto the company's website for more information.

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Barfresh Food Group Inc. (Nasdaq: BRFH) has secured seven school co-operatives, serving over 2,200 school locations and approximately 1.5 million students, for the upcoming fall. The company anticipates achieving its highest annual revenue in Fiscal Year 2024, with year-over-year margin improvement. Barfresh continues to expand its presence within the education channel, offering a variety of products such as carton and bottle smoothies, 5:1 100% juice concentrates, and 1:1 bulk easy pour smoothie concentrates. The CEO, Riccardo Delle Coste, attributes this success to strategic initiatives, increased production capacity, and product diversification. The company is set to release new smoothie offerings, including a new Tropical Smoothie flavor for Twist & Go, in the near future.

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FAQ

What does Barfresh Food Group Inc specialize in?

Barfresh Food Group Inc specializes in developing, manufacturing, and distributing ready-to-blend frozen beverages, including smoothies, shakes, and frappes.

What is unique about Barfresh's system?

Barfresh uses a proprietary, patented system that uses portion-controlled pre-packaged beverage ingredients to deliver freshly made frozen beverages quickly, cost-efficiently, and without waste.

What solutions does Barfresh offer for high-volume locations?

Barfresh provides both single-serve and bulk format solutions that are ideal for high-volume locations.

How many standard flavors does Barfresh offer?

Barfresh offers seven standard flavors, including vanilla shake, Caribbean smoothie, triple berry smoothie, caramel macchiato frappe, strawberry banana smoothie, mocha frappe, and mango burst smoothie.

Does Barfresh offer custom flavor development?

Yes, Barfresh has the development capabilities to deliver custom flavors based on customer preferences.

What industry does Barfresh target with its products?

Barfresh targets the restaurant chains and foodservice industry with its range of ready-to-blend frozen beverages.

What problem does Barfresh aim to solve for restaurants and foodservice operators?

Barfresh aims to address the challenges of labor costs and product waste that make serving blended beverages unprofitable for many businesses.

Who founded Barfresh Food Group Inc?

Barfresh Food Group Inc was founded by Riccardo Delle Coste in 2005.

What makes Barfresh a leader in the blended beverage industry?

Barfresh's innovative approach of pre-portioned packs for blended beverages has transformed the industry, making it a leader in the market.

How does Barfresh cater to the growing consumer demand for healthier alternatives?

Barfresh offers a range of frozen beverages that cater to the increasing consumer demand for healthier options in the beverage segment.

Barfresh Food Group, Inc.

Nasdaq:BRFH

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BRFH Stock Data

59.47M
14.72M
45.25%
19.2%
0.56%
Soft Drink Manufacturing
Manufacturing
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United States of America
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