Freshpet(US:FRPT)2025-11-03 13:00Financial Performance - Net sales reached $288.8 million, a 14.0% year-over-year increase[15] - Adjusted EBITDA was $54.6 million, an increase of $11.1 million year-over-year[15] - Adjusted EBITDA margin was 18.9%, a 170 bps increase year-over-year[15] - Operating cash flow was $66.8 million, an increase of $10.7 million year-over-year[15] Retail Growth - Total household penetration increased by 10%[15] - Total buy rate increased by 4%[15] - MVP (Most Valuable Pet Parents) household penetration increased by 15%[15] - Cubic feet increased by 12%[15] - Store count increased by 7%[15] - Total distribution points increased by 13%[15] - Ecommerce share of sales is 14%[15] Strategic Initiatives - The company expects to spend approximately $140 million in capital expenditures in 2025[31] - The company is adapting its model to the current environment by focusing on targeted marketing, affordability/value portfolio, and expanding visibility and availability[17, 16] - The company aims for a 48% adjusted gross margin target and a 22% adjusted EBITDA margin target[78] Market Position - Freshpet holds a 3.9% market share of the total U S dog food category, which is valued at approximately $38 billion[33] - Freshpet accounts for 95% of the fresh/frozen dog food market in measured channels[35]