LOS ANGELES, May 30, 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 be participating in the Spring MicroCap Rodeo Conference being held Thursday, June 6, 2024 in New York City. Barfresh's management team is scheduled to present at 9:00AM Eastern Time on Thursday, June 6, 2024. Interested parties unable to attend are invited to view the presentation here https://ww ...

Barfresh Food Group, Inc. (NASDAQ:BRFH) Q1 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Riccardo Delle Coste - Founder and CEO Lisa Roger - CFO Conference Call Participants Nicholas Sherwood - Maxim Group Operator Good afternoon, everyone, and thank you for participating on today's First Quarter, 2024 Corporate Update Call for Barfresh Food Group. Joining us today is Barfresh Food Group's founder and CEO, Riccardo Delle Coste, and Barfresh Food Group's CFO, Lisa Roger. Followin ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ 3600 Wilshire Blvd., Suite 1720, Los Angeles, California 90010 (Address of principal executive offices) (Zip Code) Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.000001 par value BRFH The Nasdaq Capital Market FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

[Report Overview](index=1&type=section&id=Form%208-K%20Cover%20Page) This section details the company and filing information for the Form 8-K [Company and Filing Information](index=1&type=section&id=Company%20and%20Filing%20Information) Barfresh Food Group Inc. filed this Form 8-K on May 15, 2024, detailing its Delaware incorporation and Nasdaq stock listing under BRFH - Company Name: **Barfresh Food Group Inc.**[2](index=2&type=chunk) - Date of Report: **May 15, 2024**[2](index=2&type=chunk) - State of Incorporation: **Delaware**[4](index=4&type=chunk) - Stock Trading Symbol: **BRFH** on The Nasdaq Stock Market LLC[5](index=5&type=chunk) [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Barfresh Food Group, Inc. issued a business update on May 15, 2024, coinciding with its Form 10-Q filing for the quarter ended March 31, 2024 [Use of Non-GAAP Measures](index=2&type=section&id=Use%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like EBITDA and Adjusted EBITDA to enhance understanding of core business performance and for internal strategic planning - The company presents non-GAAP measures, including **EBITDA** and **Adjusted EBITDA**, to aid in understanding its business performance[8](index=8&type=chunk) - Management uses **Adjusted EBITDA** for internal budgeting, forecasting, strategic planning, and evaluating business strategy effectiveness[20](index=20&type=chunk) - Reconciling items from GAAP net loss to **Adjusted EBITDA** include non-operational or non-cash costs like stock compensation, product withdrawal costs, and manufacturing relocation costs[8](index=8&type=chunk) - The company cautions that **Adjusted EBITDA** should not be seen as an alternative to net loss and may not be comparable to similar measures used by other companies[9](index=9&type=chunk) [Item 7.01 Regulation FD Disclosures](index=2&type=section&id=Item%207.01%20Regulation%20FD%20Disclosures) Information regarding the company's results of operations and financial condition from Item 2.02 is incorporated by reference into this section [Incorporation by Reference](index=2&type=section&id=Incorporation%20by%20Reference) The disclosures provided in Item 2.02 are formally incorporated into Item 7.01 - The disclosures set forth in Item 2.02 are incorporated by reference into Item 7.01[15](index=15&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits accompanying the Form 8-K, primarily the May 15, 2024 press release detailing business updates and financial results [List of Exhibits](index=2&type=section&id=List%20of%20Exhibits) The report includes two exhibits: the press release discussing the financial results and a Cover Page Interactive Data File Exhibit List | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release of Barfresh Food Group, Inc. dated May 15, 2024 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Forward-Looking Statements](index=2&type=section&id=Forward%20Looking%20Statements) The report includes a safe harbor statement cautioning that forward-looking statements about commercial progress and financial performance are subject to risks and uncertainties and are not guaranteed [Risk Disclosure](index=2&type=section&id=Risk%20Disclosure) The company identifies forward-looking statements, warning they are subject to numerous risks and uncertainties beyond its control, advising investors to review other SEC filings - Forward-looking statements concern the company's commercial progress and future financial performance[14](index=14&type=chunk) - These statements are based on assumptions and are subject to significant risks and uncertainties, many of which are beyond the company's control[14](index=14&type=chunk) - The company is not obligated to publicly update any forward-looking statements, except as required by law[14](index=14&type=chunk) [Signatures](index=3&type=section&id=SIGNATURES) The report is duly signed and authorized by the company's Chief Executive Officer, Riccardo Delle Coste, on May 15, 2024 [Authorization](index=3&type=section&id=Authorization) The Form 8-K was officially authorized and signed by CEO Riccardo Delle Coste on behalf of Barfresh Food Group Inc - The report was signed on **May 15, 2024**, by **Riccardo Delle Coste**, the company's CEO[18](index=18&type=chunk)

Company Bolsters Prescence in Southeast with Additional 82 New Broker Sales People Representing Barfresh's Entire Line of Smoothie Products Move Rapidly Scales Barfresh's Sales Footprint Amid Accelerating Customer Momentum, Driving Barfresh's Projected Record Fiscal Year 2024 Revenue and Year Over Year Margin Expansion LOS ANGELES, May 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, today an ...

Barfresh Secures 443 New School Customer Locations Across Multiple States, Serving Barfresh Products to Over 360,000 Students Customer Growth Acceleration Fuels Company's Projected Record Fiscal Year 2024 Revenue and Year Over Year Margin Expansion LOS ANGELES, May 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 beverages, reinforced its education channel sales momentum today by announcing new multi-st ...

Seasoned Executive Brings Decades of Expertise and Industry Partnerships to Optimize Supply Chain Operations Strategic Hire to Amplify Management's Efforts Towards Significant Sales Uplift Expected in Fiscal Year 2024 LOS ANGELES, May 01, 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 the appointment of Marko Matla as Vice President of Supply Chain & Co-Manufacturing. In his rol ...

Company Secures Seven Co-Operatives to Serve Barfresh Twist & Go Smoothies on the Breakfast Menu in Over 2,200 New Schools to Approximately 1.5 Million Students for Fall Company Projects to Achieve Highest Annual Revenue in Fiscal Year 2024 and Year-over-Year Margin Improvement Amid Bottling Recovery Efforts, Propelled by Accelerated Customer Wins Company Expects Confirmation from Many Additional New School Bids Expected to be Won in the Next Few Months to Begin this Fall LOS ANGELES, April 26, 2024 (GLOBE ...

Distribution The Company conducts sales through several channels, including National Accounts, Regional Accounts, and Broadline Distributors. Manufacturing Barfresh utilizes contract manufacturers to manufacture all of its products in the United States. Research and Development The Company incurred approximately $115,000 and $382,000 in research and development expenses for the years ended December 31, 2023 and 2022, respectively. Research and Development expenses in 2022 were primarily attributable to the ...

Financial Data and Key Metrics Changes - The company generated its second-highest fiscal year revenue in 2023 with $8.1 million, despite a full year without its largest Twist & Go bottle manufacturer, which previously accounted for over 50% of purchases [19][37] - Gross margin for the full year of 2023 was 36%, compared to 16% for the same period in 2022, attributed to higher-margin carton sales and pricing actions [24] - Net loss for the fourth quarter of 2023 was $701,000, an improvement from a net loss of $1.9 million in the fourth quarter of 2022 [24][52] - Adjusted EBITDA loss for the fourth quarter of 2023 was approximately $427,000, nearly half of the loss in the same period of 2022 [53] Business Line Data and Key Metrics Changes - The company experienced a slight setback in production due to a national carton shortage that began in December and affected sales into early February [20][51] - Selling, marketing, and distribution expenses for the fourth quarter of 2023 were $624,000, nearly unchanged from $625,000 in the fourth quarter of 2022 [38] - The company expanded its product offerings with the relaunch of its 100% juice concentrates, which are USDA reimbursable and compliant for schools [21] Market Data and Key Metrics Changes - The company expects to have sales coverage across 49 out of 50 states by the end of the first quarter of 2024, enhancing its market presence [22] - The revenue for the fourth quarter of 2023 was $1.9 million, an increase from $1.4 million in the fourth quarter of 2022, driven by improved supply and increased capacity [51] Company Strategy and Development Direction - The company is focused on expanding both carton and bottle capacity, with engineering changes made to increase carton capacity to approximately 25 million to 30 million units per year [1] - The company plans to market its newly relaunched WHIRLZ 100% Juice Concentrates through sales brokers to the general food service market and education channel [22] - The company is also exploring options to expedite securing additional bottle capacity, expecting resolution before the new school year in August 2024 [2] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record first-quarter revenue for 2024, having already achieved over $2 million in sales with a month remaining in the quarter [36] - The company believes there is significant growth potential in the education channel and is optimistic about future sales due to increased capacity and expanded sales networks [36][60] - Management noted that the carton supply issue has been fully resolved, allowing for a return to full production [56] Other Important Information - The company is in the final stages of signing with a new co-manufacturer to replace the loss of its largest one, which was unable to execute the contract due to internal issues [34] - The company is also working on a national agreement to provide coverage for all U.S. Military bases, which is expected to significantly boost sales [50] Q&A Session Summary Question: Impact of carton shortage on gross margins and future plans - Management indicated that the carton supply issue has been resolved and they are back to full production, although there may be some compression on margins in the first quarter due to higher SKU counts [55][56] Question: Update on bottle manufacturing capacity and other opportunities - Management confirmed they are exploring multiple options for bottle manufacturing and are confident in resolving capacity issues quickly, with several opportunities on the table [44][58] Question: Military channel and other opportunities outside of schools - Management highlighted ongoing efforts to establish a dedicated military channel team and emphasized the importance of high-volume accounts in recreation and amusement locations [45][50]