freshpet | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|------------------------------------------|-----------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | pets. people. planet. | | | | | | | | | | | | | | | | | | | | Q3 2020 Earnings Report November 2, 2020 | | | ...

Freshpet, Inc. (NASDAQ:FRPT) Q3 2020 Earnings Conference Call November 2, 2020 4:30 PM ET Company Participants Jeff Sonnek - ICR, LLC Billy Cyr - Chief Executive Officer Heather Pomerantz - Chief Financial Officer Scott Morris - Chief Operating Officer Conference Call Participants Peter Benedict - Robert W. Baird Ken Goldman - JPMorgan Bill Chappell - Truist Securities Mark Astrachan - Stifel Brian Holland - D.A. Davidson Ashley Helgans - Jefferies Jon Andersen - William Blair Rupesh Parikh - Oppenheimer Ry ...

Financial Performance - Net sales for the three months ended June 30, 2020, were $79,980,060, representing a 33.3% increase from $60,052,179 in the same period of 2019[13] - Gross profit for the six months ended June 30, 2020, was $65,722,707, up from $53,241,562 in 2019, indicating a 23.4% year-over-year growth[13] - The company reported a net loss attributable to common stockholders of $3,437,138 for the six months ended June 30, 2020, compared to a loss of $9,083,350 in the same period of 2019, reflecting a 62.1% improvement[13] - Net sales for the six months ended June 30, 2020, reached $150,077,864, up 30.6% from $114,844,381 in the prior year[35] Operating Expenses - Operating expenses for the three months ended June 30, 2020, were $33,702,103, slightly increasing from $32,672,284 in 2019, which is a 3.2% rise[13] - The company incurred share-based compensation expenses of $4,464,116 for the six months ended June 30, 2020, compared to $2,630,180 in 2019, marking a 69.9% increase[18] - The company incurred depreciation expense of $5,365,720 for the three months ended June 30, 2020, compared to $3,843,199 for the same period in 2019[40] Cash Flow and Financing - Cash flows used in operating activities for the six months ended June 30, 2020, were $5,117,799, an improvement from $9,835,535 in the same period of 2019[18] - The company reported net cash flows provided by financing activities of $196,625,961, significantly higher than $29,922,736 in the prior period[19] - The Company borrowed $20.9 million under the New Credit Facility during the six months ended June 30, 2020, including $13.9 million related to Delayed Draw Term Loans and $7.0 million related to the Revolving Loan Facility[45] - As of June 30, 2020, the Company had no outstanding debt under the New Credit Facility after paying down $76.0 million[45] Assets and Inventory - Cash and cash equivalents at the end of the period were $107,727,885, compared to $4,752,836 at the end of the previous period[19] - The total inventory as of June 30, 2020, was $18,692,994, an increase from $12,542,269 at the end of 2019[38] - Property, plant, and equipment increased to $220,074,510 as of June 30, 2020, compared to $165,287,597 at the end of 2019[39] - The reserve for obsolete inventory was $259,452 as of June 30, 2020, compared to $172,743 at the end of 2019[38] Legal and Regulatory Matters - The Company settled a securities lawsuit with total settlement funds of $10.1 million dispersed as of June 30, 2020, with no appeals filed[69] - The company accrued an estimated probable loss of $0.2 million related to a shareholder derivative lawsuit, which includes proposed settlement and accrued legal fees[70] Foreign Exchange and Commodity Risks - The company is subject to commodity price volatility, which could increase operating costs as a percentage of net sales if prices rise without adjustments[163] - Approximately 1% of consolidated revenue for the three and six months ended June 30, 2020, was recognized in Europe, indicating exposure to foreign exchange rate fluctuations[164] - As of June 30, 2020, there were no forward exchange contracts outstanding to mitigate foreign currency fluctuations[165] Internal Controls and Management - The company's management concluded that its disclosure controls and procedures were effective as of the end of the reporting period[166] - No changes in internal control over financial reporting were identified that materially affected the company's internal control during the reporting period[167] - The company acknowledges inherent limitations in its control systems, which may not prevent all errors or fraud[168]

Freshpet, Inc. (NASDAQ:FRPT) Q2 2020 Earnings Conference Call August 3, 2020 4:30 PM ET Company Participants Katie Turner – ICR, LLC Billy Cyr – Chief Executive Officer Dick Kassar – Chief Financial Officer Scott Morris – Chief Operating Officer Conference Call Participants Peter Benedict – Baird Ken Goldman – JPMorgan Bill Chappell – Truist Securities Mark Astrachan – Stifel Brian Holland – D.A. Davidson Jon Andersen – William Blair Rupesh Parikh – Oppenheimer Ryan Bell – Consumer Edge Robert Moskow – Cred ...

OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36729 FRESHPET, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-1884894 (State or other jurisdiction of incorporation or organization) (I.R ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ 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 001-36729 FRESHPET, INC. (Exact name of registrant as specified in its charter) Delaware 20-1884894 (State of Incorporation) (I.R.S. Employe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36729 FRESHPET, INC. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) 400 Plaza Drive, 1st ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36729 FRESHPET, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-1884894 (State or other jurisdiction of incorporation or organization) 400 P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36729 FRESHPET, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-1884894 (State or other jurisdiction of incorporation or organization) 400 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission File Number 001-36729 FRESHPET, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(g) of the Act: None Common Stock, $0.001 par value per share NASDAQ Global Market Title of each class Name of exchange on which registered Securities reg ...