Barfresh Food Group (BRFH) lifts 2026 outlook to $23–$26M revenue despite margin hit
Rhea-AI Filing Summary
Barfresh Food Group reported second-quarter 2026 revenue of $4.7 million, up 190% year-over-year from $1.6 million, primarily due to the Arps Dairy acquisition and growth in the education channel. However, gross margin deteriorated to a gross loss of $150,000, or -3.2% of revenue, versus gross profit of $506,000, or 31.1%, a year earlier, as startup and inefficiency costs at the existing Arps facility weighed on results.
Selling, marketing and distribution expense fell to $561,000 (12% of revenue) from $634,000 (39%), while G&A rose to $794,000. Net loss widened to $1.9 million from $880,000. Adjusted EBITDA was a loss of $1, compared with a $600,000 loss. As of June 30, 2026, Barfresh held $1.4 million of 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 equipment.
For full year 2026, the company now expects revenue of $23–$26 million, representing 62%–83% growth versus 2025, and Adjusted EBITDA of negative $1.0 to $2.0 million. Management also targets Adjusted EBITDA of negative $0.5 million to breakeven in the second half of 2026 as production efficiencies improve and the new 44,000-square-foot Defiance, Ohio facility is completed.
Positive
- Revenue surged 190% year-over-year in Q2 2026 to $4.7 million, driven mainly by the Arps Dairy acquisition and recovery in the education channel.
- The company guides full-year 2026 revenue to $23–$26 million, implying 62%–83% growth versus 2025, signaling strong expected top-line expansion.
- Management targets second-half 2026 Adjusted EBITDA of negative $0.5 million to breakeven, indicating a path toward operating profitability as efficiencies improve.
- Barfresh strengthened its capital position with a $7.5 million senior convertible note and a $2.4 million government grant to fund expanded production capacity.
Negative
- Gross profitability deteriorated sharply to a gross loss of $150,000 (-3.2% margin) from $506,000 gross profit (31.1% margin) a year earlier.
- Quarterly net loss more than doubled to $1.9 million from $880,000 in Q2 2025, reflecting higher costs and ramp inefficiencies.
- Full-year 2026 guidance was revised due to a slower-than-anticipated ramp in production efficiency at the existing facility, pointing to execution challenges.
- Despite growth, Barfresh still expects negative full-year 2026 Adjusted EBITDA of $1.0 to 2.0 million, indicating continued operating losses.
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8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
senior convertible note financial
government grant financial
production efficiency technical
Defiance, Ohio facility technical
Earnings Snapshot
Management expects 2026 revenue of $23–$26 million and Adjusted EBITDA of negative $1.0 to 2.0 million, with second-half 2026 Adjusted EBITDA between negative $0.5 million and breakeven as production efficiency improves and the new Defiance, Ohio facility comes online.
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UNITED STATES
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FORM
CURRENT REPORT
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Item 2.02. Results of Operations and Financial Condition.
On August 14, 2026, Barfresh Food Group, Inc., a Delaware corporation (the “Company”) issued an update on recent business developments in conjunction with the filing of its form 10-Q for the second quarter ended June 30, 2026.
The conference call discussing these results took place on Friday, August 14, 2026, at 1:30 pm Pacific Time (4:30 pm Eastern Time). A telephonic playback will be available through Friday, August 28, 2026.
Use of Non-GAAP Measures
Barfresh Food Group Inc. prepares its consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). In order to aid in the understanding of the Company’s business performance, the Company has also presented certain non-GAAP measures, including EBITDA and Adjusted EBITDA, which are reconciled to net (loss) in the schedules to the press release furnished with this Current Report on Form 8-K as Exhibit 99.1. The reconciling items are non-operational or non-cash costs, including stock compensation, and other non-recurring costs such as those associated with our acquisition of Arp’s Dairy, Inc.
Management believes that Adjusted EBITDA provides useful information to the investor because it is directly reflective of the period-to-period performance of the Company’s core business. In addition, Adjusted EBITDA is used in developing the Company’s internal budgets, forecasts and strategic plan; in analyzing the effectiveness of its business strategies; and in making compensation decisions and in communications with its board of directors concerning its financial performance.
Adjusted EBITDA should not be considered as an alternative to loss from operations, net loss or any other performance measure derived in accordance with GAAP as a measure of operating results. It may not be comparable to similarly titled measures used by other companies and may exclude financial information that some may consider important in evaluating the Company’s performance.
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 and 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”, among others. 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 and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. The contents of this release should be considered in conjunction with the warnings, risk factors and cautionary statements contained in the Company’s recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Furthermore, the Company does not intend, and is not obligated, to update publicly any forward-looking statements, except as required by law.
Item 7.01. Regulation FD Disclosures.
The disclosures set forth in Item 2.02 are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit relating to Items 2.02 and 7.01 shall be deemed to be furnished, and not filed:
| 99.1 | Press Release of Barfresh Food Group, Inc. dated August 14, 2026 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.
Barfresh Food Group Inc., a Delaware corporation (Registrant) | ||
| Date: August 14, 2026 | /s/ Riccardo Delle Coste | |
| By: | Riccardo Delle Coste | |
| Its: | CEO | |
Exhibit 99.1
Barfresh Announces Second Quarter 2026 Results
Second Quarter Revenue Increased 190% Year-Over-Year to $4.7 million, Driven by Contribution from Arps Dairy Acquisition
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,
“We are addressing these inefficiencies directly
and completing construction of our new
Second Quarter of 2026 Financial Results
Revenue for the second quarter of 2026 increased
190% year-over-year to $4.7 million, compared to $1.6 million in the second quarter of 2025
Gross loss was $150,000, or -3.2% of revenue, in the second quarter of 2026, compared to gross profit of $506,000, or 31.1% of revenue, in the second quarter of 2025. The decline was driven by startup and implementation costs and lower-than-anticipated productivity at the Company’s existing processing facility as it continues to ramp toward full-scale operations.
Selling, marketing and distribution
for the second quarter of 2026 was $561,000 or 12% of revenue, compared to $634,000 or 39% of revenue in the second quarter of 2025.
The year-over-year decrease reflects lower personnel costs as the Company increasingly leverages its broker
G&A expenses for the second quarter of 2026 were $794,000, compared to $673,000 in the second quarter of 2025, primarily reflecting higher personnel, recruiting and other administrative costs associated with the Arps Dairy business.
Net loss for the second quarter of 2026 was $1.9 million as compared to a loss of $880,000 in the second quarter of 2025.
Adjusted EBITDA was a loss of $1.2M for the second quarter of 2026, compared to a loss of $600,000 in the second quarter of 2025. A reconciliation of net loss to Adjusted EBITDA is provided below.
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.
| (1) | Arp’s 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 $1.4 million of cash and accounts receivable, and approximately $2.2 million of inventory on its balance sheet.
In March 2026, the Company secured a $7.5 million senior convertible note financing. The proceeds were used to pay off the existing mortgage on the Company’s manufacturing facility in Defiance, Ohio, as well as other obligations positioning Barfresh to control its manufacturing destiny with significantly expanded production capacity. In addition, the Company was recently approved for a $2.4 million government grant to purchase and install specialized equipment necessary for full-scale production operations.
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 $23 million to $26 million, representing 62% to 83% growth compared to fiscal year 2025. The Company now expects fiscal year 2026 Adjusted EBITDA of negative $1.0 to 2.0 million.
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