[Barfresh Third Quarter 2024 Results and Business Update](index=1&type=section&id=Barfresh%20Provides%20Record%20Third%20Quarter%202024%20Results%20and%20Business%20Update) [Management Comments](index=1&type=section&id=Management%20Comments) The CEO highlights record Q3 revenue growth driven by existing products ahead of the new Pop & Go™ launch - Achieved record quarterly revenue in Q3 2024, exceeding **$3.6 million**, a **40% year-over-year increase**[2](index=2&type=chunk) - The new Pop & Go™ product is expected to significantly expand the company's presence in the high-volume school lunch channel[2](index=2&type=chunk) - The company is positioned for sustained growth with expanded capacity and a distribution network covering over **95% of the country**[2](index=2&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) The company reports significant revenue growth for Q3 and the first nine months of 2024, with improved gross margins [Third Quarter 2024 Financial Results](index=1&type=section&id=Third%20Quarter%20of%202024%20Financial%20Results) Q3 2024 revenue surged 40% to $3.6 million with improved adjusted gross margins, though the net loss slightly increased Q3 2024 vs Q3 2023 Key Metrics | Financial Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | $3.6M | $2.6M | +40% | | **Gross Margin** | 35% | 35% | 0% | | **Adjusted Gross Margin** | 38% | 35% | +3 p.p. | | **Net Loss** | ($513,000) | ($476,000) | +7.8% | | **Adjusted EBITDA** | ($124,000) | ($89,000) | +39.3% | - Revenue growth was attributed to improvements in Twist & Go bottled smoothie sales and sales of smoothie cartons and bulk formats[3](index=3&type=chunk) - The increase in net loss was primarily due to higher personnel costs, travel, broker commissions, and the non-recurrence of an Employee Retention Tax Credit benefit recognized in 2023[4](index=4&type=chunk) [First Nine Months of 2024 Financial Results](index=2&type=section&id=First%20Nine%20Months%20of%202024%20Financial%20Results) Revenue for the first nine months grew 28% to $7.9 million, accompanied by a narrowed net loss and improved Adjusted EBITDA Nine Months 2024 vs 2023 Key Metrics | Financial Metric | Nine Months 2024 | Nine Months 2023 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | $7.9M | $6.2M | +28% | | **Gross Margin** | 37% | 36% | +1 p.p. | | **Adjusted Gross Margin** | 39% | 36% | +3 p.p. | | **Net Loss** | ($2.0M) | ($2.1M) | -4.7% | | **Adjusted EBITDA** | ($752,000) | ($1.2M) | +39.7% | - The improvement in Gross Margin and Adjusted Gross Margin resulted from a favorable product mix, pricing actions, and a slight improvement in supply chain component costs[5](index=5&type=chunk) - The increase in G&A expenses was driven by higher management headcount, increased stock-based compensation for the Board, and the non-recurrence of 2023 tax benefits[6](index=6&type=chunk) [Balance Sheet and Liquidity](index=3&type=section&id=Balance%20Sheet) The company managed liquidity through inventory buildup, a new receivables financing facility, and non-recourse litigation financing - As of September 30, 2024, the company had approximately **$2.1 million of cash and accounts receivable**, and approximately **$770,000 of inventory**[12](index=12&type=chunk) - In August 2024, the company secured a **$1.5 million receivables financing facility** to provide flexibility for funding inventory as needed[13](index=13&type=chunk) - Obtained non-recourse litigation financing to vigorously pursue its legal complaint without further expense to the company[13](index=13&type=chunk) - The company has taken measures to reduce liquidity requirements, including compensating directors and employees with equity to reduce cash compensation[12](index=12&type=chunk) [2024 Outlook](index=3&type=section&id=Commentary%20and%20Outlook%20for%202024) The company expects to achieve record annual revenue in 2024 with gross margins in the mid to high 30s and positive Q4 Adjusted EBITDA - Expects to achieve **record fiscal year revenue** for fiscal year 2024[14](index=14&type=chunk) - Gross Margin and Adjusted Gross Margin for 2024 are expected to be in the **mid to high 30's**[14](index=14&type=chunk) - Expects to achieve **positive adjusted EBITDA** in the fourth quarter of fiscal year 2024[14](index=14&type=chunk) [Supplier Dispute](index=3&type=section&id=Supplier%20Dispute) The company is engaged in an ongoing legal dispute with a former manufacturer over a product quality issue from Q3 2022 - The dispute stems from customer complaints in Q3 2022 regarding the textural consistency of the Twist & Go™ bottle product from a single manufacturer[15](index=15&type=chunk) - After unsuccessful informal negotiations, Barfresh re-filed a complaint in California State Court in August 2023, and the case is progressing through the court system[15](index=15&type=chunk) - The company cannot predict the outcome or a range of reasonably possible recoveries from its legal actions, and **no gain contingencies have been recorded**[15](index=15&type=chunk) [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP measures like Adjusted Gross Profit and Adjusted EBITDA to provide a clearer view of core performance - The company presents non-GAAP measures like Adjusted Gross Profit and Adjusted EBITDA to provide useful information that is directly reflective of its core business performance[8](index=8&type=chunk) - Exclusions from GAAP measures, such as manufacturing relocation costs and stock compensation, are intended to provide a more useful measure for period-to-period comparisons[8](index=8&type=chunk) Reconciliation to Adjusted Gross Profit | Reconciliation to Adjusted Gross Profit | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | **Gross Profit** | $1,260,000 | $913,000 | $2,938,000 | $2,242,000 | | Manufacturing relocation | $126,000 | - | $176,000 | - | | **Adjusted Gross Profit** | $1,386,000 | $913,000 | $3,114,000 | $2,242,000 | Reconciliation to Adjusted EBITDA | Reconciliation to Adjusted EBITDA | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net Loss** | ($513,000) | ($476,000) | ($1,973,000) | ($2,123,000) | | Adjustments (D&A, Interest, etc.) | $389,000 | $387,000 | $981,000 | $576,000 | | **Adjusted EBITDA** | ($124,000) | ($89,000) | ($752,000) | ($1,247,000) | [Conference Call Information](index=4&type=section&id=Conference%20Call) A conference call to discuss Q3 2024 results was scheduled for October 24, 2024, with webcast and replay details provided - A conference call was scheduled for October 24, 2024, at 1:30 pm Pacific Time (4:30 pm Eastern Time) to discuss the results[16](index=16&type=chunk) - Dial-in numbers for North American and international listeners were provided, along with a passcode for a telephonic playback available through November 7, 2024[16](index=16&type=chunk)

Record Quarterly Revenue of $3.6 Million and Gross Margin of 35% and Adjusted Gross Margin of 38% for Third Quarter 2024 Company Generating Revenue from New Pop & Go™ Freeze Pops in Fourth Quarter 2024 Company Expects to Achieve Positive Adjusted EBITDA for Fourth Quarter 2024 Capacity and Product Portfolio Expansion Paving Way for Record Annual Revenue and Year-over-Year Adjusted Gross Margin Improvement in Fiscal Year 2024 LOS ANGELES, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Compa ...

LOS ANGELES, Oct. 10, 2024 (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 announced that it will host a business update call on Thursday, October 24, 2024 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 conclude ...

Company Starts Generating Revenue from Pop & Go in Fourth Quarter 2024 Preliminary Figures Indicate Record Quarterly Revenue of over $3.6 Million in Third Quarter 2024 without any sales from the new Pop & Go Offering Company Continues to Expect to Achieve Record Annual Revenue in Fiscal Year 2024 and Year-over-Year Margin Improvement LOS ANGELES, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (the "Company" or "Barfresh") (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink b ...

Barfresh Food Group Inc. (BRFH) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this company would post a loss of $0.05 per share when it actually produced a loss of $0.03, delivering a surprise of 40%. Over the last four quarters, the company has su ...

Barfresh Food Group, Inc. (NASDAQ:BRFH) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Riccardo Delle Coste - Founder and Chief Executive Officer Lisa Roger - Chief Financial Officer Conference Call Participants Nicholas Sherwood - Maxim Group Operator Good afternoon, everyone, and thank you for participating on today's Second Quarter 2024 Corporate Update Call for Barfresh Food. Joining us today is Barfresh Food Group's Founder and CEO, Riccardo Delle Coste; and Barfresh F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number: 001-41228 BARFRESH FOOD GROUP INC. (Exact name of registrant as specified in its charter) Delaware 27-1994406 ...

[Barfresh Food Group Inc. Form 8-K Filing (August 14, 2024)](index=1&type=section&id=Barfresh%20Food%20Group%20Inc.%20Form%208-K) This Form 8-K filing from Barfresh Food Group Inc. provides business updates, financial condition, non-GAAP measures, and forward-looking statements [Item 2.02: Results of Operations and Financial Condition](index=1&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) Barfresh Food Group, Inc. issued a business update and filed its Form 10-Q for Q2 2024, with a conference call held to discuss results - The company issued an update on recent business developments concurrent with its Form 10-Q filing for the quarter ended June 30, 2024[2](index=2&type=chunk) - A conference call to discuss the results was scheduled for August 14, 2024, at 1:30 pm Pacific Time[2](index=2&type=chunk) [Use of Non-GAAP Financial Measures](index=2&type=section&id=Use%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like EBITDA and Adjusted EBITDA to supplement GAAP, providing a clearer view of core business performance - The company presents non-GAAP measures, including EBITDA and Adjusted EBITDA, which are reconciled to net loss in the press release (Exhibit 99.1)[3](index=3&type=chunk) - Adjustments from GAAP net loss to Adjusted EBITDA include non-operational or non-cash items such as stock compensation, product withdrawal dispute costs, and manufacturing relocation costs[3](index=3&type=chunk) - Management uses Adjusted EBITDA for internal budgeting, strategic planning, and evaluating business strategy effectiveness[4](index=4&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward%20Looking%20Statements) This report contains forward-looking statements regarding future performance, subject to risks and uncertainties, and are not guarantees - The report includes forward-looking statements identified by words such as "grow", "expand", "anticipate", and "project"[5](index=5&type=chunk) - Investors are cautioned that these statements are not guarantees of future performance and are subject to risks beyond the company's control[5](index=5&type=chunk) - The company directs investors to its SEC filings, including Form 10-K and 10-Q, for a more detailed discussion of warnings and risk factors[5](index=5&type=chunk) [Item 9.01: Financial Statements and Exhibits](index=2&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists exhibits furnished with the Form 8-K, primarily the August 14, 2024 press release detailing business updates - The key exhibit furnished with this report is 99.1, the Press Release from Barfresh Food Group, Inc. dated August 14, 2024[7](index=7&type=chunk)

LOS ANGELES, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the "Company" or "Barfresh") (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, received multiple offers to fund its lawsuit on a non-recourse non-dilutive basis based on the merits of its legal case. The Company entered into an agreement with a well-known alternative asset investment firm and the Company's litigation counsel, Boesch Law Group, to provide non-recourse non-dilutive litigation financing. B ...

Company Has Recently Added Three New Third Party Locations Dramatically Boosting Annual Capacity to Over 120 million Units Riccardo Delle Coste, the Company's Chief Executive Officer, stated, "In the last month we have added three new third-party locations, thereby growing our manufacturing capacity to over 120 million units annually in order to meet current demand and position ourselves for future success. This latest location will be instrumental in producing our innovative new Pop & Go™ freeze pops, whic ...