Exhibit 10.1 BRANCHOUT FOOD INC. Senior Secured Promissory Note $1,500,000 January 28, 2026 (the "Issue Date") FOR VALUE RECEIVED, BRANCHOUT FOOD, INC., a Nevada corporation (the "Company") with its principal executive office at 205 SE Davis Ave., Suite C, Bend, Oregon 97702, promises to pay to the order of Kaufman Kapital LLC, a Delaware limited liability company, or its registered assigns (the "Holder" or "Payee"), the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000) (the "Princi ...

Core Insights - BranchOut Food Inc. achieved record revenue of approximately $14 million in 2025, reflecting a 113% year-over-year growth [2][9] - The company has successfully built and commissioned a manufacturing facility in Peru, allowing it to focus on scaling production and executing its core business [3] - BranchOut is positioned for continued growth into 2026 and beyond, supported by new customer relationships and product innovations [3][15] Financial Performance - The company reported a gross margin of approximately 16% for 2025, impacted by air freight costs and tariffs, with expectations for significant margin expansion in 2026 [16] - The anticipated gross margin improvement is due to reduced air freight costs and the elimination of tariffs on most products, which previously affected profitability [16] - Incremental revenue is expected to carry contribution margins over 50% as the company approaches breakeven [18] Customer Relationships and Orders - BranchOut secured a nearly $2 million initial order from the second-largest warehouse club retailer, with potential for year-round placement worth up to $15 million in annual recurring revenue [4] - The company is collaborating with the largest retailer on a development program for up to nine new SKUs, estimated to generate an additional $10 million in annualized revenue [5] - A new large international CPG customer is onboarding, which will sell BranchOut products enrobed in chocolate, with an initial order of approximately $1.8 million expected [10] Product Innovations - The introduction of a first-of-its-kind shelf-stable dehydrated cheesecake showcases BranchOut's innovative capabilities and expands its product offerings into a new dairy-based snack category [6][14] - The company is advancing private label programs with major retailers, focusing on high-protein and functional snack offerings [7] Operational Expansion - BranchOut is installing its fourth large-scale REV drying line, scheduled to be operational by March 1, 2026, which will enhance production capacity for dairy-based and high-protein products [13][14] - The new facility is designed to safely process allergen-containing products while maintaining food safety and quality controls [14] Financing and Capital Structure - The company secured a $1.5 million loan from Kaufman Capital to support production and inventory needs associated with large customer orders [20] - Kaufman Capital also converted $500,000 of its existing convertible note into equity, indicating confidence in BranchOut's growth strategy [21] - BranchOut is utilizing its existing at-the-market program to raise up to $1.5 million in additional working capital to support accelerating order volume [22]

Core Insights - BranchOut Food Inc. has announced a $2.5 million institutional investment, which will enhance its working capital and support growth initiatives [1][2] - The company reported record revenue of $1.7 million in October, indicating a $20 million annualized run rate, marking the best month in its history [2] - BranchOut plans to expand its production facility and transition to an inventory-based production strategy to improve efficiency and support larger retail programs [2][3] Company Overview - BranchOut Food Inc. specializes in high-quality dehydrated fruit and vegetable products using its proprietary GentleDry Technology, which preserves up to 95% of the original nutrition [3] - The company holds over 17 patents for its technology, establishing itself as a trusted brand and supplier in the food technology sector [3]

Revenue and Profitability - Net revenue for the three months ended September 30, 2025, was $3,220,027, an increase of $1,038,532, or 48%, compared to $2,181,495 for the same period in 2024[180] - Gross profit for the three months ended September 30, 2025, was $569,550, with a gross margin of 17.7%, up from a gross profit of $336,340 and a margin of 15.4% in 2024[181] - For the nine months ended September 30, 2025, net revenue was $9,713,287, an increase of $4,701,790, or 94%, compared to $5,011,497 for the same period in 2024[193] - Cost of goods sold for the three months ended September 30, 2025, was $2,650,477, an increase of $805,322, or 44%, compared to $1,845,155 in 2024[181] - Cost of goods sold for the nine months ended September 30, 2025, was $7,984,763, an increase of 125% from $4,242,810 for the same period in 2024, resulting in a gross profit of $1,728,524 and a gross margin of 17.8%[194] Losses and Expenses - Operating loss for the three months ended September 30, 2025, was $1,427,504, compared to an operating loss of $903,155 for the same period in 2024, an increase of $524,349[179] - Net loss for the three months ended September 30, 2025, was $1,572,552, an increase of $301,747, or 24%, compared to a net loss of $1,270,805 in 2024[190] - General and administrative expenses for the three months ended September 30, 2025, were $897,512, an increase of $580,824, or 183%, compared to $316,688 in 2024[183] - General and administrative expenses rose to $2,204,559 for the nine months ended September 30, 2025, a 231% increase from $666,600 in 2024, with significant increases in idle capacity and research and development costs[196] - Research and development expenses surged by 1,352% to $208,265 in 2025 from $14,348 in 2024, reflecting the company's focus on innovation[197] - Net loss for the nine months ended September 30, 2025, was $4,094,090, a 25% increase from $3,264,326 in 2024, attributed to scaling up production at the new manufacturing facility[203] Cash Flow and Assets - Net cash used in operating activities increased by 55% to $5,064,017 in 2025 from $3,259,049 in 2024, primarily due to a rise in accounts receivable and prepaid inventory[207] - Current assets as of September 30, 2025, were $5,460,580, compared to $4,916,614 as of December 31, 2024, indicating improved liquidity[205] - Total liabilities decreased to $9,544,563 as of September 30, 2025, from $10,514,292 as of December 31, 2024, reflecting a reduction in current liabilities[205] - Cash provided by financing activities was $4,093,929 for the nine months ended September 30, 2025, a decrease of 29% from $5,767,938 in 2024, due to principal repayments on notes payable[209] Operational Costs - The company incurred idle capacity costs of $368,586 for the three months ended September 30, 2025, due to the opening of the new production facility in Pisco, Peru[184] - Shipping and handling expenses increased by 35% to $421,313 in 2025 from $311,073 in 2024, driven by higher sales volumes[200] - Advertising and promotions expenses rose by 159% to $579,507 in 2025 from $223,801 in 2024, largely due to increased in-store product demonstrations[201] Future Plans and Technology - The company plans to leverage its proprietary GentleDry™ Technology to enhance product quality and efficiency, supported by over 17 patents[170] - The lease for the Peru Facility requires monthly payments starting at $8,000 for the first two years, increasing to $25,000 thereafter, with a buy-out option of $1,865,456[174]

Summary of BranchOut Food (NasdaqCM:BOF) 2025 Conference Call Company Overview - **Company Name**: BranchOut Food Inc. - **Ticker**: BOF on Nasdaq - **Industry**: Technology-based food manufacturing, specifically focusing on dehydration technology for fruits and vegetables [1][2] Core Technology and Operations - **Technology**: Licensed from EnWave Corporation, utilizing Radiant Energy Vacuum (REV) technology, described as "freeze-dried 2.0" [2][3] - **Factory Location**: Largest scale factory in the world located in Peru, operational since early 2025, capable of processing approximately 800 metric tons [3][4] - **Production Method**: Uses a vacuum chamber and industrial microwave to dehydrate products, resulting in better flavor retention and texture compared to traditional freeze-drying [5][6] Market Position and Product Offerings - **Market Size**: The freeze-dried industry is valued at approximately $36 billion, with BranchOut Food aiming to disrupt this market [4] - **Product Examples**: Pineapple Chips, Brussels Sprout Crisps, Organic Chewy Banana Bites, and a new Kids' Snack Packs line launching in 2026 [9][10][11] - **Retail Partnerships**: Strong presence in Costco, with products performing significantly above average sales metrics [11][23] Financial Performance and Projections - **Revenue**: Expected to reach between $14 million to $15 million for the year, with consistent doubling of revenue year-over-year [8][9] - **Contribution Margins**: Anticipated contribution margins of about 50% once above break-even revenue of $14.5 million [9][26] - **Growth Strategy**: Plans to expand product offerings and retail partnerships, including potential entry into Target in 2026 [39] Competitive Advantages - **IP Protection**: Strong partnership with EnWave Corporation, providing a significant patent portfolio and exclusivity for certain products [13][31] - **Cost Efficiency**: Ability to source second-grade fruits and vegetables at lower costs, benefiting both the company and local economies [4] - **Innovation Focus**: Emphasis on creating new products based on retailer needs, positioning the company as an innovation partner for retailers [12][13] Challenges and Considerations - **Demand Management**: Currently facing challenges in meeting demand due to rapid growth and factory scaling [8][9] - **Market Risks**: While Costco is a major revenue driver, the company is cautious about concentration risks and is diversifying its customer base [38] Additional Insights - **Consumer Preferences**: Products are designed to be clean, single-ingredient snacks, appealing to health-conscious consumers [20] - **Future Opportunities**: Anticipation of significant orders in the pipeline, with potential for large-scale production needs [33][37] This summary encapsulates the key points discussed during the conference call, highlighting BranchOut Food's innovative approach, market strategy, and financial outlook.

Financial Results - BranchOut Food Inc. reported selected financial results for the quarterly and nine-month periods ended September 30, 2025[4]. - The press release detailing financial results was issued on October 21, 2025[4]. - The financial information provided is not deemed "filed" under the Securities Exchange Act of 1934[5]. Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[3]. Document Information - The report includes a cover page interactive data file embedded within the Inline XBRL document[6]. Leadership - Eric Healy serves as the Chief Executive Officer of BranchOut Food Inc.[9].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - AlphaVest Acquisition Corp (ATMV) is up 71% at $14.24 [3] - BranchOut Food Inc. (BOF) is up 44% at $3.04 [3] - rYojbaba Co., Ltd. (RYOJ) is up 35% at $5.14 [3] - GSI Technology, Inc. (GSIT) is up 25% at $16.24 [3] - Jowell Global Ltd. (JWEL) is up 18% at $2.02 [3] - General Motors Company (GM) is up 9% at $63.68 [3] - Crown Holdings, Inc. (CCK) is up 8% at $103.00 [3] - Spero Therapeutics, Inc. (SPRO) is up 8% at $2.49 [3] - Sunrun Inc. (RUN) is up 6% at $21.90 [3] - Foxx Development Holdings Inc. (FOXX) is up 5% at $4.50 [3] Premarket Losers - Neuphoria Therapeutics Inc. (NEUP) is down 66% at $5.19 [4] - New Era Energy & Digital, Inc. (NUAI) is down 9% at $5.09 [4] - Odyssey Marine Exploration, Inc. (OMEX) is down 8% at $3.28 [4] - Carbon Revolution Public Limited Company (CREV) is down 7% at $4.86 [4] - Coeur Mining, Inc. (CDE) is down 7% at $20.38 [4] - Hecla Mining Company (HL) is down 6% at $13.50 [4] - Verrica Pharmaceuticals Inc. (VRCA) is down 6% at $4.12 [4] - Sensei Biotherapeutics, Inc. (SNSE) is down 5% at $10.06 [4] - Whitehawk Therapeutics, Inc. (WHWK) is down 5% at $2.52 [4] - Greenidge Generation Holdings Inc. (GREE) is down 5% at $2.07 [4]

Core Insights - BranchOut Food Inc. reported record operational and financial results for Q3 2025, with a revenue of approximately $3.2 million, bringing year-to-date revenue to $9.7 million, representing a 93% increase year-over-year [2][7][8] - The company achieved a significant production milestone with over 38,500 kilograms of finished product in September, establishing a $16 million annualized run rate and reaching breakeven production levels [3][7] - BranchOut is positioned for growth in 2026, with a focus on expanding production capacity and improving profitability through operational efficiencies and reduced R&D investments [6][9] Financial Performance - Q3 revenue reached approximately $3.2 million, contributing to a year-to-date total of about $9.7 million, reflecting strong growth compared to the previous year [8] - The company successfully completed its At-The-Market (ATM) equity program, which strengthened the balance sheet and reduced current notes payable from $6.39 million to approximately $0.5 million, a decrease of over 92% [7][8] - The gross margin for the quarter was 17%, with potential margins closer to 30% when excluding air shipments and transitioning to ocean freight [6] Production and Capacity Expansion - September marked the highest production month in BranchOut's history, achieving a breakeven production level and supporting multiple large warehouse club programs [3][7] - The company is committed to purchasing an additional EnWave REV™ 120kW machine to significantly increase production capacity in early 2026, responding to strong demand [9] - BranchOut has secured global exclusive rights to produce dragon fruit using EnWave's technology, tapping into emerging trends in the healthy snack market [9] Product Development and Market Position - The company successfully scaled up production of its strawberry product for a large warehouse club order, which ranked among the top 10 best-selling items in its category [4][7] - BranchOut's CEO highlighted the transformative nature of the quarter, emphasizing the completion of extensive scale-up and R&D efforts across the product portfolio [5][6] - The company is in advanced discussions with several major retailers, setting the stage for exceptional growth in 2026 [10] Leadership and Strategic Initiatives - BranchOut announced the hiring of Jesse Thomas as Chief Marketing Officer, who will focus on expanding e-commerce initiatives and retail brand strategy [11][13] - The appointment includes a stock option grant to Mr. Thomas, aligning his interests with the company's growth objectives [12]

Core Insights - BranchOut Food Inc. has launched a new Crunchy Fruit Multipack aimed at expanding its presence in warehouse clubs, featuring 18 snack-sized bags of popular fruit crisps: Crunchy Pineapple, Crunchy Strawberry, and Crunchy Banana [2][3][6] Product Launch and Strategy - The new multipack is strategically placed in a high-traffic front-of-club section dedicated to multipacks for kids' snacks, which is expected to significantly increase foot traffic and sales volume compared to existing grocery department placements [3][4] - Each fruit in the multipack has shown strong performance in larger bag formats, indicating a solid foundation for incremental sales growth in the warehouse club channel [4][6] Market Demand and Consumer Preferences - The multipack is designed to meet the demand for healthier, clean-label snacks that appeal to both parents and children, providing convenient portions suitable for school lunches [6] - The product is made with 100% real fruit and no added sugar, utilizing BranchOut's proprietary GentleDry™ technology to preserve flavor and nutrition [6][8] Future Outlook - The Crunchy Fruit Multipack is set to launch at the beginning of the year, with strong interest already expressed from multiple regions, indicating positive market reception [7]

Core Insights - BranchOut Food Inc. is launching a new Crunchy Fruit Multipack, which includes 18 snack-sized bags of its popular fruit crisps: Crunchy Pineapple, Crunchy Strawberry, and Crunchy Banana [1][5] - The multipack is strategically placed in a high-traffic area of warehouse clubs, targeting families and children, which could potentially double the brand's market opportunity in this channel [2][3] Product Details - Each multipack contains 6 bags each of pineapple, strawberry, and banana, made from 100% real fruit with no added sugar, utilizing the GentleDry™ technology to preserve flavor and nutrition [5] - The new product is set to launch at the beginning of the year, with strong interest already noted from various regions [6] Company Background - BranchOut Food Inc. specializes in dehydrated fruit and vegetable products, leveraging its proprietary GentleDry Technology, which preserves up to 95% of the original nutrition of fresh produce [7] - The company holds over 17 patents, establishing itself as a trusted brand and private-label supplier in the food technology sector [7]