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Barfresh Food Group Inc. (BRFH+6.38%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Barfresh's operations, focusing on the manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages, including smoothies, shakes, and frappes.
The company reported revenues of $10,717,000 for 2024, up from $8,127,000 in 2023, marking a 32% increase attributed to improved product availability and new product introductions.
Cost of revenue increased to $7,049,000 from $5,243,000, with a gross profit of $3,668,000, representing 34% of sales. Excluding production relocation costs, the gross margin improved to 37%.
Selling, marketing, and distribution expenses rose by 20% to $3,139,000, driven by increased personnel costs and expansion of the broker network.
General and administrative expenses increased by 13% to $3,043,000, primarily due to higher stock-based compensation and personnel costs.
The company reported a net loss of $2,825,000, consistent with the previous year's loss of $2,824,000.
Barfresh secured a $1,500,000 receivables-based line of credit in 2024 and raised $3,000,000 through a stock sale in February 2025 to support operations.
The company has been involved in a legal dispute with a contract manufacturer, which has impacted supply and operations. Barfresh has obtained litigation financing to pursue its claims.
Barfresh continues to focus on expanding its product offerings and improving operational efficiencies to achieve profitability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Barfresh Food Group Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.