Revenue Growth - Company achieved record fiscal year revenue of $10.7 million for 2024, up from $8.1 million in 2023, representing a 32% increase [6] - Fourth quarter revenue was $2.8 million, compared to $1.9 million in Q4 2023, marking a 47% year-over-year growth [3] - Company expects record revenue for fiscal year 2025 in the range of $14.5 million to $16.6 million, indicating a potential growth of 35% to 55% [16] Profitability and Margins - Gross margin for fiscal year 2024 was 34%, slightly down from 35% in 2023, while adjusted gross margin improved to 37% from 35% [6] - Adjusted EBITDA loss for the full year 2024 improved to $1.3 million from a loss of $1.7 million in 2023 [8] - Selling, marketing, and distribution expenses for 2024 were $3.1 million, or 29% of revenue, down from 32% in 2023 [7] Losses - Net loss for the fourth quarter of 2024 was $852,000, compared to a loss of $701,000 in Q4 2023 [4] Future Outlook - Company anticipates consistent revenue and margins in Q1 2025, with significant growth expected in the latter half of the year [15] - Company is focused on expanding its product portfolio and customer base, particularly in the education market [2] Financing and Investment - Company raised $3 million in growth financing to enhance production capacity and support market expansion [14]
Barfresh(BRFH) - 2024 Q4 - Annual Results