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Barfresh Food Group Inc. develops, manufactures and distributes frozen, ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, for the education market, foodservice industry and restaurant chains. Its updates commonly address fully prepared individual portions, single-serving and bulk formats for on-site preparation, including Twist & Go Smoothies in K-12 channels.
Company announcements also cover quarterly results and guidance, manufacturing integration following the Arps Dairy acquisition, facility and equipment investments, customer bid awards, convertible note financing, board composition and investor conference participation.
Barfresh Food Group (OTCQB: BRFH), a manufacturer of frozen beverages, announced that CEO Riccardo Delle Coste will present at the LD Micro Virtual Invitational XI Conference on June 10, 2021, at 12:00 p.m. ET. Barfresh specializes in ready-to-blend and ready-to-drink beverages, including smoothies and shakes, primarily for restaurants and the foodservice industry. The company utilizes a patented system for portion-controlled, pre-packaged ingredients, ensuring fresh beverages that are cost-efficient and reduce waste. For more details, visit www.barfresh.com.
Barfresh Food Group (OTCQB: BRFH) reported a 38% increase in revenue for Q1 2021, reaching over $1.0 million, compared to $733,000 in Q1 2020. This revenue boost was attributed to the popularity of its Twist & Go product, especially in schools. Although gross margins decreased to 34% from 54% year-over-year due to a change in product mix, the company anticipates margins will rise to approximately 40% as higher-margin products resume sales. Net loss improved to $0.6 million, a reduction from $0.7 million in the previous year, as operating expenses were cut by 39%.
Barfresh Food Group (OTCQB: BRFH) will host a business update call on May 17, 2021, at 1:30 PM PT. Investors can join via telephone or a webcast on the company's website. Telephonic playback will be accessible two hours post-call until May 31, 2021. Barfresh specializes in frozen, ready-to-blend beverages for the foodservice industry using a patented, portion-controlled system. They have a significant distribution partnership with North America's leading food distributor.
Barfresh Food Group (OTCQB: BRFH) expects Q1 2021 revenue to exceed $1 million, marking a 36% rise from Q1 2020. The company is positioned to gain significant market share as schools reopen, enhancing revenue prospects. Notably, Barfresh has launched two new products targeting the educational sector, increasing their presence in school districts. Although 2020 revenues fell to $2.6 million from $4.3 million in 2019, cost reductions led to a decrease in operating loss. As of March 31, 2021, cash on hand rose to $2.2 million following better expense management and PPP loan receipt.
Barfresh Food Group (OTCQB: BRFH) announced a business update call scheduled for April 14, 2021, at 1:30 PM PT. Interested listeners can join by dialing (877) 407-4018 in North America or (201) 689-8471 internationally. A replay of the call will be available for two weeks post-call, with specific playback numbers provided. The company specializes in frozen, ready-to-blend beverages for the foodservice industry and holds a partnership with a leading food distributor in North America. For more information, visit www.barfresh.com.