BRFHHIGH SIGNALOPERATIONAL10-K

BRFH completed a strategic acquisition of Arps Dairy in October 2025, adding manufacturing capabilities and expanding into juice pops while relocating corporate headquarters.

The acquisition of Arps Dairy represents a fundamental shift in BRFH's operational model, moving from distribution-focused to integrated manufacturing with a planned facility expansion to 44,000 square feet. This vertical integration could improve margins long-term but requires significant capital investment and operational expertise in a new segment.

Comparing 2026-04-15 vs 2025-03-27View on EDGAR →
FINANCIAL ANALYSIS

Revenue grew substantially year-over-year from a low base, while the company maintained positive gross profit of $3.1M despite a modest decline from prior year. Operating losses widened to $3.4M, though operating cash flow improved meaningfully to -$1.7M. The company's cash position declined significantly to $2.8M while current assets expanded due to increased inventory, suggesting the acquisition required substantial working capital investment.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+92.1%
$110K$211K

Strong top-line growth of 92.1% — accelerating demand or successful expansion into new markets.

Interest Expense
P&L
-72.9%
$479K$130K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Current Assets
Balance Sheet
+55.3%
$2.7M$4.2M

Current assets grew 55.3% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
-49.2%
$5.5M$2.8M

Cash declined 49.2% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Operating Cash Flow
Cash Flow
+25.3%
-$2.2M-$1.7M

Operating cash flow grew 25.3% — strong conversion of earnings to cash, healthy business fundamentals.

Operating Income
P&L
-23.8%
-$2.8M-$3.4M

Operating profitability softening — costs rising faster than revenue, watch for margin recovery plan.

Gross Profit
P&L
-15.1%
$3.7M$3.1M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Inventory
Balance Sheet
+11%
$1.5M$1.7M

Inventory built 11% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-04-15
PRIOR — 2025-03-27
ADDED
As of April 13, 2026, there were 16,104,853 outstanding shares of common stock of the registrant.
You may also request a copy of these filings, at no cost, by writing us at 12100 Wilshire Boulevard, 8 th Floor, Los Angeles, California, 90025 or calling us at (310) 598-7113.
Corporate History and Background The Company is engaged in the manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages and food, including smoothies, shakes, frappes and juice pops.
On October 3, 2025, we acquired Arps Dairy, Inc., an Ohio corporation ( Arps Dairy ), which operates a 15,000- square foot dairy processing facility to be replaced in 2026 by a new 44,000-square foot facility under construction nearby (the New Facility ), thereby obtaining manufacturing capability that we did not previously have.
Accordingly, we have two direct subsidiaries: Barfresh Corporation, Inc.
Our corporate office is located at 12100 Wilshire Boulevard, 8 th Floor, Los Angeles, California, 90025.
Business Overview Barfresh is a leader in the creation, manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages and food.
The current portfolio of products includes smoothies, shakes, frappes and juice pops.
Some of the key benefits of the products for the end consumers that drink the products include: From as little as 125-130 calories (per serving) Real fruit in every smoothie Dairy free options Kosher approved Gluten Free Following the Acquisition, we are also engaged in providing raw and processed milk to a single significant customer.
This legacy Arps Dairy activity is strategic from the standpoint of our supply chain and capacity utilization.
REMOVED
As of March 24, 2025, there were 15,810,080 outstanding shares of common stock of the registrant.
You may also request a copy of these filings, at no cost, by writing us at 3600 Wilshire Boulevard, Suite 1720, Los Angeles, 90010 or calling us at (310) 598-7113.
Corporate History and Background The Company is engaged in the manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages, including smoothies, shakes and frappes.
Our corporate office is located at 3600 Wilshire Boulevard Suite 1720, Los Angeles, 90010.
Business Overview Barfresh is a leader in the creation, manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages.
The current portfolio of products includes smoothies, shakes and frappes.
Some of the key benefits of the products for the end consumers that drink the products include: From as little as 125-130 calories (per serving) Real fruit in every smoothie Dairy free options Kosher approved Gluten Free Products Products are packaged in four distinct formats.
Manufacturing Barfresh utilizes contract manufacturers to manufacture all of its products in the United States.
Research and Development The Company incurred approximately $132,000 and $115,000 in research and development expenses for the years ended December 31, 2024 and 2023, respectively.
Patents in the United States and Australia are in effect through 2025.
MORE OPERATIONAL SIGNALS
NVDAHIGHNVIDIA has repositioned itself from a "full-stack computing infrastructure compa...
2026-02-25
NVDAHIGHNVIDIA has repositioned itself from a "full-stack computing infrastructure compa...
2026-02-25
NOWHIGHServiceNow has fundamentally repositioned itself as an AI-first platform company...
2026-01-29
TSLAHIGHTesla has fundamentally repositioned itself from an electric vehicle company to ...
2026-01-29
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →