Borealis Foods’ U.S. School Foodservice Revenue Grows 110% Year Over Year Amid National Expansion

Rhea-AI Summary

Borealis Foods (Nasdaq: BRLS) reported a 110% year-over-year increase in U.S. K–12 school foodservice revenue, driven by ongoing national expansion. The company now reaches more than 20,000 schools across approximately 2,500 districts.

Over the past 12 months, Borealis Foods’ school products shipped through 106 distributors in 40 states, indicating broader market penetration and an expanding institutional foodservice network. According to Borealis Foods, growing demand from school nutrition programs for versatile, nutritionally compliant offerings supports higher production volume, better manufacturing utilization and a foundation for long-term growth in this national channel.

Positive

• K–12 foodservice revenue up 110% year over year
• More than 20,000 schools and about 2,500 districts now served
• 106 distributors across 40 states in past 12 months
• National School Lunch Program covers over 95,000 schools, cited as long-term opportunity

Negative

• None.

Market reaction after K–12 revenue growth: BRLS -9.38%

-9.38% $1.16

15m delay

-9.38% Vs previous close

+32.0% Peak in 1 min

$1.16 Last Price

$1.10 $2.11 Day Range

$24.90M Market Cap

0.4x Rel. Volume

Following this news, BRLS has declined 9.38%, reflecting a notable negative market reaction. Argus tracked a peak move of +32.0% during the session. Our momentum scanner has triggered 20 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.16.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

BRLS had low short positioning in the platform data. The announcement can be weighed against that ba...

Analysis

BRLS had low short positioning in the platform data. The announcement can be weighed against that backdrop, while the April 23 Nasdaq deficiency notice remains a documented compliance risk to monitor.

Key Figures

K–12 foodservice revenue growth: 110% year over year Schools reached: More than 20,000 schools School districts represented: Approximately 2,500 school districts +3 more

6 metrics

K–12 foodservice revenue growth 110% year over year Compared with the prior-year period

Schools reached More than 20,000 schools U.S. school foodservice channel

School districts represented Approximately 2,500 school districts Since entering the school foodservice channel

Distributors 106 distributors Across 40 states over the past 12 months

States served 40 states Distribution network over the past 12 months

National School Lunch Program participants More than 95,000 schools and institutions U.S. schools and institutions participating in the program

Historical Context

4 past events · Latest: Jul 15 (Positive)

Pattern 4 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 15	Costco distribution expansion	Positive	-9.6%	Chef Woo noodles launched at Costco amid cited strong early member demand.
Jul 10	Manufacturing partnership update	Positive	+7.5%	Partnerships, operating improvements, debt refinancing, and Nasdaq compliance notice were highlighted.
Apr 28	Refinancing transaction	Positive	+67.3%	Oxus term loan refinanced debt and supported operations with a 2031 maturity.
Apr 23	Nasdaq filing deficiency	Negative	+0.0%	Late fiscal 2025 Form 10-K filing triggered notice and a compliance deadline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

BRLS showed mixed historical reactions, aligning with positive business updates twice and diverging from them once, while a regulatory deficiency also produced little price change.

Key Terms

institutional foodservice

1 terms

institutional foodservice technical

"institutional foodservice as a growing national channel"

Operations and companies that prepare, manage, and deliver meals for large organizations and public institutions—such as hospitals, schools, prisons, long‑term care facilities, military bases, and corporate cafeterias—often under contract or as part of on‑site services. It matters to investors because this sector represents a distinct revenue stream tied to institutional budgets, occupancy and contract terms, labor and food‑cost pressures, and regulatory standards; think of it as the commercial kitchen and delivery system that feeds entire organizations rather than individual retail customers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Expansion into more than 20,000 schools and 106 distributors establishes institutional foodservice as a growing national channel

NEW YORK, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Borealis Foods Inc. (Nasdaq: BRLS), a food technology and manufacturing company, today announced continued national expansion in the U.S. K–12 foodservice market, with revenue from the channel increasing 110% compared with the prior-year period.

Since entering the school foodservice channel, Borealis Foods has expanded its presence to more than 20,000 schools representing approximately 2,500 school districts. Over the past 12 months, the company’s school products have shipped through 106 distributors across 40 states, reflecting broader market penetration and an expanding national distribution network.

The 110% year-over-year increase in K–12 foodservice revenue reflects increased adoption within the market and the growing importance of institutional foodservice as a national growth channel for Borealis Foods.

“Our progress in the K–12 market reflects Borealis Foods’ ability to identify large institutional opportunities and scale differentiated food solutions through our U.S. manufacturing platform,” said Reza Soltanzadeh, Founder and Chief Executive Officer of Borealis Foods. “Revenue growth of 110% year over year, combined with an expanding distributor network and access to thousands of schools, reflects the momentum we are building in this market.”

The expansion reflects demand from school nutrition programs for foods that meet nutritional requirements while remaining practical for school kitchens and appealing to students.

The company’s products provide school nutrition teams with flexible meal options that can be incorporated into soups, stir-fries, salads, bowls and other speed-scratch recipes. This versatility allows school districts to introduce familiar foods in new ways while supporting operational efficiency and menu variety.

The announcement comes as Borealis Foods participates in the School Nutrition Association’s 2026 Annual National Conference in Charlotte, North Carolina, where school nutrition professionals have expressed strong interest in and provided positive feedback regarding the company’s offerings.

“The response from school districts has been outstanding,” said Amanda Bot, Vice President, K–12 Division. “School nutrition administrators are looking for foods that students will be excited to see on the menu, but those products must also be practical, versatile and dependable. Our growing presence in this market reflects our ability to help school foodservice programs address those needs.”

More than 95,000 U.S. schools and institutions participate in the National School Lunch Program, representing a meaningful long-term opportunity for Borealis Foods as it continues to expand its institutional foodservice business nationally.

“As adoption continues, we believe this channel can support increased production volume, greater manufacturing utilization and long-term growth,” Soltanzadeh said. “The national reach we have established provides a strong foundation for continued expansion.”

About Borealis Foods
Borealis Foods Inc. is a food technology company focused on developing and commercializing nutritious, affordable and sustainable food products. Through its wholly owned subsidiary, Palmetto Gourmet Foods, the company develops and manufactures innovative noodle products for retail, foodservice and major food industry partners from its U.S. production facility in Saluda, South Carolina.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements regarding the Company’s continued expansion in the K–12 foodservice market, anticipated adoption by school districts and foodservice distributors, the Company’s ability to expand distribution, increase institutional production volume and execute its overall growth strategy. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks relating to school and distributor purchasing decisions, competitive market conditions, supply chain and production factors, customer demand, the Company’s liquidity and financing requirements, its ability to maintain compliance with Nasdaq continued listing requirements, and the other risks described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements except as required by applicable law.

Media Contact
Henry Wong
Chief Marketing and Public Relations Officer
Borealis Foods Inc.
1540 Cornwall Road, Suite 104
Oakville, ON L6J 7W5
(905) 278-2200

FAQ

How much did Borealis Foods’ (BRLS) U.S. K–12 school foodservice revenue grow in 2026?

Borealis Foods’ U.S. K–12 school foodservice revenue grew 110% year over year. According to Borealis Foods, this growth reflects increased adoption of its products in the institutional channel and highlights the growing importance of school foodservice as a national growth driver for the business.

How many schools and districts does Borealis Foods (BRLS) now serve in the K–12 market?

Borealis Foods reports serving more than 20,000 schools, representing about 2,500 school districts. According to Borealis Foods, this footprint demonstrates expanding national reach in the U.S. K–12 foodservice channel and supports broader distribution and brand presence among school nutrition programs.

What is the size of Borealis Foods’ (BRLS) U.S. school distributor network as of August 2026?

Borealis Foods shipped school products through 106 distributors across 40 U.S. states over the past 12 months. According to Borealis Foods, this expanding distributor network underpins its national K–12 growth strategy and helps drive broader access to its products in school foodservice programs.

Why is the K–12 institutional channel important for Borealis Foods (BRLS) long-term growth?

The K–12 channel is described as a meaningful long-term opportunity for Borealis Foods. According to Borealis Foods, continued adoption can support increased production volume, better manufacturing utilization and sustained national expansion within institutional foodservice, including schools participating in the National School Lunch Program.

How does Borealis Foods (BRLS) position its products for U.S. school nutrition programs?

Borealis Foods designs products to meet nutritional requirements while remaining practical and appealing for students. According to Borealis Foods, its offerings support flexible meal formats like soups, stir-fries, salads and bowls, helping school foodservice teams improve menu variety and operational efficiency.

What national market opportunity does Borealis Foods (BRLS) see in the U.S. school lunch system?

Borealis Foods cites more than 95,000 U.S. schools and institutions in the National School Lunch Program as a major opportunity. According to Borealis Foods, this large installed base underpins its view of institutional foodservice as a significant long-term growth platform.