Barfresh Announces Second Quarter 2026 Results
Rhea-AI Summary
Barfresh (Nasdaq: BRFH) reported second quarter 2026 revenue of $4.7 million, up 190% from $1.6 million a year earlier, primarily due to the Arps Dairy acquisition. Despite the growth, Barfresh posted a gross loss of $150,000 (-3.2% margin) versus prior-year gross profit of $506,000 (31.1%), reflecting startup and inefficiency costs at its existing processing facility.
Selling, marketing and distribution expense was $561,000, or 12% of revenue, down from 39% of revenue, while G&A rose to $794,000. Net loss widened to $1.9 million, and Adjusted EBITDA loss increased to $1.2 million. As of June 30, 2026, Barfresh held about $1.4 million in cash and accounts receivable and $2.2 million of inventory, supported by a $7.5 million senior convertible note financing and a $2.4 million government grant for specialized equipment. The company now guides 2026 revenue to $23–$26 million (62–83% growth) and expects full-year Adjusted EBITDA between negative $1.0 million and negative $2.0 million, targeting Adjusted EBITDA breakeven in the second half of 2026.
Positive
- Q2 2026 revenue rose 190% year-over-year to $4.7 million, driven by the Arps Dairy acquisition
- Selling, marketing and distribution fell to 12% of revenue from 39% a year earlier
- 2026 revenue guidance set at $23–$26 million, implying 62%–83% growth versus 2025
- $7.5 million senior convertible note financing completed in March 2026 strengthened funding for the Defiance facility
- $2.4 million government grant approved to purchase and install specialized production equipment
- Company targets Adjusted EBITDA breakeven for the second half of 2026
Negative
- Gross margin deteriorated to a 3.2% loss from 31.1% profit in Q2 2025
- Net loss widened to $1.9 million from $880,000 year-over-year in Q2
- Adjusted EBITDA loss increased to $1.2 million from $600,000 a year earlier
- Company revised 2026 guidance downward due to slower-than-anticipated production efficiency ramp at the existing facility
- Startup and inefficiency costs at the current processing facility significantly weighed on profitability
News Explained
The August 14 results add that Barfresh is still completing its 44,000-square-foot Defiance, Ohio facility, so the production-capacity change it expects from that site has not yet taken effect.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | First-quarter earnings | Positive | +1.7% | Revenue growth and narrowed losses followed the Arps Dairy acquisition. |
| Mar 31 | Full-year earnings | Positive | +1.4% | Record revenue and financing supported updated 2026 operating guidance. |
| Nov 06 | Third-quarter earnings | Positive | +4.6% | Record revenue, positive Adjusted EBITDA, and Arps Dairy acquisition drove results. |
| Aug 13 | Second-quarter earnings | Negative | -4.7% | Operational challenges prompted reduced revenue guidance despite year-over-year revenue growth. |
| May 01 | First-quarter earnings | Negative | -11.4% | Wider losses and reduced production expectations accompanied unchanged annual guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed both positive and negative reactions, with an average move of -1.68%.
Key Terms
adjusted ebitda financial
senior convertible note financial
non-gaap financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Quarter Revenue Increased
Company Expects to Achieve Adjusted EBITDA Breakeven in Second Half of 2026
Company Revises Full Year 2026 Guidance to Reflect Slower-than-Anticipated Ramp in Production Efficiency at Existing Facility; Remains Focused on Completing Construction of New Defiance, Ohio Facility
LOS ANGELES, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, today reported financial results for the second quarter June 30, 2026.
Management Comments
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “Our education channel continued to rebuild in the second quarter, as former customers returned and we added new school district wins across the country. That said, while our revenue increased driven by the Arps Dairy acquisition our overall results came in below our expectations for the quarter. Productivity at our existing Arps Dairy facility ramped more slowly than we had planned, driven by the condition of the current facilities infrastructure and equipment that needed more investment than planned to bring it into a more operable condition for the volume of product we needed. The resulting startup and inefficiency costs weighed on gross margin and Adjusted EBITDA more than we anticipated when we issued guidance in May.”
“We are addressing these inefficiencies directly and completing construction of our new 44,000-square-foot facility in Defiance, Ohio remains a top operational priority, as we believe it will meaningfully improve our production economics once commissioned. Given where we stand at the midpoint of the year, we are revising our full year 2026 guidance to reflect a more conservative view of the timeline to normalized production. We expect to achieve Adjusted EBITDA of negative
Second Quarter of 2026 Financial Results
Revenue for the second quarter of 2026 increased
Gross loss was
Selling, marketing and distribution for the second quarter of 2026 was
G&A expenses for the second quarter of 2026 were
Net loss for the second quarter of 2026 was
Adjusted EBITDA was a loss of
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 EBITDA and Adjusted EBITDA, which are reconciled in the table below to comparable GAAP measures. Management believes that Adjusted EBITDA provides useful information to the investor because it is directly reflective of the performance of the Company. The exclusion of certain items including stock compensation and other non-recurring costs such as business acquisition expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of the Company’s core business performance. Adjusted EBITDA is not recognized measurements under GAAP and should not be considered as an alternative to 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, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net loss | $ | (1,861,000 | ) | $ | (880,000 | ) | $ | (2,522,000 | ) | $ | (1,641,000 | ) | |||
| Depreciation and amortization | 75,000 | 75,000 | 147,000 | 149,000 | |||||||||||
| Interest expense | 344,000 | 12,000 | 569,000 | 35,000 | |||||||||||
| EBITDA | (1,442,000 | ) | (793,000 | ) | (1,806,000 | ) | (1,457,000 | ) | |||||||
| Stock based compensation, employees and board of directors | 154,000 | 139,000 | 256,000 | 297,000 | |||||||||||
| Business acquisition and integration expense (1) | 62,000 | 54,000 | 86,000 | 54,000 | |||||||||||
| Adjusted EBITDA | $ | (1,226,000 | ) | $ | (600,000 | ) | $ | (1,464,000 | ) | $ | (1,106,000 | ) | |||
(1) Arps Dairy was acquired on October 3, 2025. The Company incurred acquisition and integration expenses during 2026 in association with the transaction.
Balance Sheet
As of June 30, 2026, the Company had approximately
In March 2026, the Company secured a
Outlook for Full Year 2026
Based on first half results and the slower-than-anticipated ramp of production efficiency at the Company’s existing facility, the Company is revising its full year 2026 guidance. The Company now expects fiscal year 2026 revenue of
The Company expects revenue to improve sequentially in the third and fourth quarters of 2026 as new school district wins ramp for the 2026-27 school year and as production efficiency at the existing facility continues to improve.
Conference Call
The conference call to discuss these results is scheduled for today, on Friday, August 14, 2026 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 Friday, August 28, 2026. Listeners in North America can dial (844) 512-2921, and international listeners can dial (412) 317-6671. Passcode is 13761350. 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. 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
