Barfresh Announces Second Quarter 2025 Results
Barfresh Food Group (Nasdaq: BRFH), a provider of frozen beverages, reported Q2 2025 financial results with revenue growth of 11% year-over-year to $1.6 million. The company achieved a gross margin of 31.1%, down from 34.8% in Q2 2024. Net loss improved to $880,000 compared to $1.0 million in the prior year.
A significant development was the completion of equipment installation at a new co-manufacturer, which is expected to resolve previous production constraints. Due to operational challenges, Barfresh revised its FY2025 revenue guidance to $12.5-$14.0 million, down from the previous $14.5-$16.6 million range. The company maintains $1.3 million in cash and receivables and $1.8 million in inventory as of June 30, 2025.
The company expects improved performance in H2 2025 with expanded production capabilities and resolution of logistics constraints.Barfresh Food Group (Nasdaq: BRFH), fornitore di bevande surgelate, ha comunicato i risultati finanziari del secondo trimestre 2025 con un incremento dei ricavi dell'11% su base annua, a 1,6 milioni di dollari. L'azienda ha registrato un margine lordo del 31,1%, in calo rispetto al 34,8% del Q2 2024. La perdita netta si è ridotta a 880.000 dollari rispetto a 1,0 milione dell'anno precedente.
Un fatto rilevante è stato il completamento dell'installazione degli impianti presso un nuovo co-manufacturing, che dovrebbe risolvere i precedenti vincoli produttivi. A causa di difficoltà operative, Barfresh ha rivisto le stime dei ricavi per l'esercizio 2025 a 12,5-14,0 milioni di dollari, rispetto alla precedente forchetta di 14,5-16,6 milioni. L'azienda dispone di 1,3 milioni di dollari in liquidità e crediti e di 1,8 milioni di dollari in inventario al 30 giugno 2025.
La società prevede un miglioramento delle prestazioni nella seconda metà del 2025 grazie all'espansione della capacità produttiva e alla risoluzione dei vincoli logistici.
Barfresh Food Group (Nasdaq: BRFH), proveedor de bebidas congeladas, presentó los resultados financieros del segundo trimestre de 2025 con un crecimiento de ingresos del 11% interanual, hasta 1,6 millones de dólares. La compañía registró un margen bruto del 31,1%, frente al 34,8% del Q2 de 2024. La pérdida neta mejoró a 880.000 dólares en comparación con 1,0 millón del año anterior.
Un hito importante fue la finalización de la instalación de equipos en un nuevo cofabricante, que se espera elimine las limitaciones de producción previas. Debido a desafíos operativos, Barfresh revisó su previsión de ingresos para el ejercicio 2025 a 12,5-14,0 millones de dólares, por debajo del rango previo de 14,5-16,6 millones. La compañía mantiene 1,3 millones de dólares en efectivo y cuentas por cobrar y 1,8 millones de dólares en inventario al 30 de junio de 2025.
Se espera una mejora del desempeño en la segunda mitad de 2025 con mayor capacidad de producción y la resolución de los problemas logísticos.
Barfresh Food Group (Nasdaq: BRFH)는 냉동 음료 공급업체로 2025년 2분기 실적을 발표하며 매출이 전년 동기 대비 11% 증가한 $1.6 million를 기록했습니다. 회사는 총이익률 31.1%을 기록했으며, 이는 2024년 2분기의 34.8%에서 하락한 수치입니다. 순손실은 개선되어 $880,000가 됐습니다(전년: $1.0 million).
주요 진전으로는 새로운 공동 제조업체에 대한 설비 설치가 완료된 점이 있으며, 이는 이전의 생산 제약을 해소할 것으로 기대됩니다. 운영상 문제로 Barfresh는 2025 회계연도 매출 전망을 기존 $14.5–$16.6 million 범위에서 $12.5–$14.0 million으로 하향 조정했습니다. 회사는 2025년 6월 30일 기준으로 현금 및 매출채권 $1.3 million과 재고 $1.8 million을 보유하고 있습니다.
회사는 생산능력 확충과 물류 제약 해소로 2025년 하반기에 실적이 개선될 것으로 예상하고 있습니다.
Barfresh Food Group (Nasdaq: BRFH), fournisseur de boissons surgelées, a publié ses résultats du deuxième trimestre 2025 avec une hausse du chiffre d'affaires de 11% en glissement annuel, à 1,6 million de dollars. La société a affiché une marge brute de 31,1%, en baisse par rapport à 34,8% au T2 2024. La perte nette s'est améliorée pour s'établir à 880 000 dollars contre 1,0 million l'année précédente.
Un développement notable a été l'achèvement de l'installation des équipements chez un nouveau co-manufacturier, qui devrait résoudre les contraintes de production précédentes. En raison de difficultés opérationnelles, Barfresh a révisé ses prévisions de chiffre d'affaires pour l'exercice 2025 à 12,5–14,0 millions de dollars, en dessous de la fourchette antérieure de 14,5–16,6 millions. La société dispose de 1,3 million de dollars en trésorerie et créances et de 1,8 million de dollars en stocks au 30 juin 2025.
La société anticipe une amélioration des performances au second semestre 2025 grâce à une capacité de production accrue et à la résolution des contraintes logistiques.
Barfresh Food Group (Nasdaq: BRFH), Anbieter von gefrorenen Getränken, meldete die Finanzergebnisse für Q2 2025 mit einem Umsatzwachstum von 11% gegenüber dem Vorjahr auf 1,6 Mio. USD. Das Unternehmen erzielte eine Bruttomarge von 31,1%, nach 34,8% im Q2 2024. Der Nettoverlust verringerte sich auf 880.000 USD gegenüber 1,0 Mio. USD im Vorjahr.
Ein wichtiger Meilenstein war der Abschluss der Anlageninstallation bei einem neuen Co-Hersteller, die voraussichtlich frühere Produktionsengpässe beheben wird. Aufgrund operativer Herausforderungen hat Barfresh seine Umsatzprognose für das Geschäftsjahr 2025 auf 12,5–14,0 Mio. USD gesenkt, gegenüber der bisherigen Spanne von 14,5–16,6 Mio. USD. Zum 30. Juni 2025 verfügt das Unternehmen über 1,3 Mio. USD an Barmitteln und Forderungen und 1,8 Mio. USD an Inventar.
Das Unternehmen erwartet für die zweite Jahreshälfte 2025 eine Verbesserung der Leistung durch erweiterte Produktionskapazitäten und die Behebung logistischer Engpässe.
- Revenue increased 11% year-over-year to $1.6 million
- Net loss improved to $880,000 from $1.0 million year-over-year
- New co-manufacturer equipment installation completed, expanding production capacity
- G&A expenses decreased to $673,000 from $865,000 year-over-year
- Gross margin declined to 31.1% from 34.8% year-over-year
- Adjusted EBITDA loss of $600,000 in Q2 2025
- Revenue guidance lowered to $12.5-$14.0M from previous $14.5-$16.6M range
- Operational challenges and logistics constraints impacted H1 2025 performance
Insights
Barfresh reports modest 11% growth but faces margin pressure; operational improvements set stage for better H2 despite lowered guidance.
Barfresh's Q2 results reveal a mixed financial picture with revenue growth of
The operational context behind these numbers is crucial. Barfresh has been developing an additional manufacturing location since Q4 2024, with equipment upgrades completed at the end of Q2 2025. This expansion addresses production constraints that have hampered performance, but also created temporary inefficiencies that dragged down margins. The company is effectively sacrificing near-term profitability for long-term capacity growth.
Looking at expense management, Barfresh maintained disciplined spending with selling and marketing expenses at
The most concerning signal is the significant guidance reduction, with 2025 revenue now projected at
The liquidity position appears tight with only
Revenue Increased
Achieved Gross Margin of
New Co-Manufacturer Completes Equipment Installation at End of Second Quarter 2025 and Commences Increased Supply for Third Quarter 2025
Company Expects an Increase in Revenue and Gross Margin for the Second Half of 2025 Compared to the First Half of 2025
LOS ANGELES, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, is providing a business update for the second quarter ended June 30, 2025.
Management Comments
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “We delivered
“Looking beyond this year, the investments we are making in manufacturing capacity and operational improvements, along with our sales capabilities, are building toward a more scalable platform for growth. As we work toward consistent production capacity, we expect to be better positioned to serve market opportunities. The operational progress we're making is designed to create a foundation for improved margins over time and provide the flexibility to support growth as we continue to strengthen our market position and customer relationships."
Second Quarter of 2025 Financial Results
Revenue increased
Gross Margin for the second quarter of 2025 was
Net loss for the second quarter of 2025 was
Adjusted EBITDA was a loss of approximately
Non-GAAP Financial Measures
The above information is presented in conformity with accounting principles generally accepted in the United States. In order to aid in the understanding of the Company’s business performance, the Company has also presented below certain non-GAAP measures, including Adjusted Gross Profit, EBITDA and Adjusted EBITDA, which are reconciled in the table below to comparable GAAP measures, and certain calculations based on its results including Gross Margin and Adjusted Gross Margin. Management believes that Adjusted Gross Profit and Adjusted EBITDA provide useful information to the investor because it is directly reflective of the performance of the Company. The exclusion of certain items including manufacturing relocation costs in calculating Adjusted Gross Profit and stock compensation and other non-recurring costs such as those associated with the product withdrawal, the related dispute, certain manufacturing relocation costs, and business development expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of the Company’s core business performance. Adjusted Gross Profit and Adjusted EBITDA are not recognized measurements under GAAP and should not be considered as an alternative to Gross Profit, loss from operations, net loss or any other performance measure derived in accordance with GAAP.
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 1,625,000 | $ | 1,464,000 | $ | 4,555,000 | $ | 4,293,000 | ||||||||
| Cost of revenue | 1,119,000 | 955,000 | 3,149,000 | 2,614,000 | ||||||||||||
| Gross profit | 506,000 | 509,000 | 1,406,000 | 1,679,000 | ||||||||||||
| Manufacturing relocation (1) | - | 5,000 | - | 50,000 | ||||||||||||
| Adjusted Gross Profit | $ | 506,000 | $ | 514,000 | $ | 1,406,000 | $ | 1,729,000 | ||||||||
| Gross Margin | 31.1 | % | 34.8 | % | 30.9 | % | 39.1 | % | ||||||||
| Adjusted Gross Margin | 31.1 | % | 35.1 | % | 30.9 | % | 40.3 | % | ||||||||
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (880,000 | ) | $ | (1,011,000 | ) | $ | (1,641,000 | ) | $ | (1,460,000 | ) | ||||
| Depreciation and amortization | 75,000 | 72,000 | 149,000 | 146,000 | ||||||||||||
| Interest expense | 12,000 | 6,000 | 35,000 | 10,000 | ||||||||||||
| EBITDA | (793,000 | ) | (933,000 | ) | (1,457,000 | ) | (1,304,000 | ) | ||||||||
| Stock based compensation, employees and board of directors | 139,000 | 214,000 | 297,000 | 517,000 | ||||||||||||
| Operating expense related to withdrawn product and related dispute (2) | - | 32,000 | - | 108,000 | ||||||||||||
| Manufacturing relocation (1) | - | 5,000 | - | 50,000 | ||||||||||||
| Business development expense (3) | 54,000 | - | 54,000 | - | ||||||||||||
| Adjusted EBITDA | $ | (600,000 | ) | $ | (682,000 | ) | $ | (1,106,000 | ) | $ | (629,000 | ) | ||||
| (1) Represents costs incurred to relocate single-serve ready-to-blend beverage pack production lines owned by Barfresh at the conclusion of a multi-year manufacturing agreement. | ||||||||||||||||
| (2) Barfresh experienced a quality issue with product manufactured by one of its contract manufacturers, which is the subject of a legal dispute as to the source of complaints received. Operating expense in 2024 primarily includes legal expense incurred with respect to the dispute. | ||||||||||||||||
| (3) Represents costs and expenses incurred in business development activities. | ||||||||||||||||
Balance Sheet
As of June 30, 2025, the Company had approximately
Updated Outlook for 2025
The production and logistics constraints outlined in the Company’s first quarter earnings call persisted throughout the second quarter with greater-than-anticipated impact. The Company believes that the bottling production and logistics constraints have been resolved. With the Company’s second co-manufacturing partner’s equipment installation now complete and production capability expanded, Barfresh is positioned for stronger performance in the second half of the year.
Based on these second quarter impacts, the Company is revising its fiscal year 2025 revenue guidance to a range of between
Conference Call
The conference call to discuss these results is scheduled for today, on Wednesday, August 13, 2025 at 1:30 pm Pacific Time (4:30 pm Eastern Time). Listeners can dial (877) 407-4018 in North America, and international listeners can dial (201) 689-8471. A telephonic playback will be available approximately two hours after the call concludes and will be available through Tuesday, August 26, 2025 Listeners in North America can dial (844) 512-2921, and international listeners can dial (412) 317-6671. Passcode is 13754380. Interested parties may also listen to a simultaneous webcast of the conference call by logging onto the Company’s website at www.barfresh.com in the Investors-Presentations section.
About Barfresh Food Group
Barfresh Food Group Inc. (Nasdaq: BRFH) is a developer, manufacturer and distributor of ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, primarily for the education market, foodservice industry and restaurant chains, delivered as fully prepared individual portions or single serving and bulk formats for on-site preparation. The Company’s single serving, on-site prepared product utilizes a proprietary system that uses portion-controlled pre-packaged beverage ingredients, delivering a freshly made frozen beverage that is quick, cost efficient, better for you and without waste. For more information, please visit www.barfresh.com.
Forward Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking, including statements about the Company’s commercial progress, success of its strategic relationship(s), and projections of future financial performance. These forward-looking statements are identified by the use of words such as “grow”, “expand”, “anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”, “forecast” and “project”, “continue,” “could,” “may,” “predict,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The contents of this release should be considered in conjunction with the Company’s recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any warnings, risk factors and cautionary statements contained therein. Furthermore, the Company expressly disclaims any current intention to update publicly any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
Investor Relations
John Mills
ICR
646-277-1254
John.Mills@icrinc.com
Deirdre Thomson
ICR
646-277-1283
Deirdre.Thomson@icrinc.com
FAQ
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