BellRing Brands, Inc.
bellring.comWhat Do They Do?
Sells protein shakes and powders under Premier Protein and Dymatize to retailers, online sellers and distributors.
10-K for FY2025, filed Nov 18, 2025We are a leader in the global convenient nutrition category, aiming to enhance the lives of our consumers by providing them with…View ↗
Our customers are predominantly club stores, FDM retailers, online retailers, specialty retailers, convenience stores and distributors. We…View ↗
In the U.S., we utilize a direct sales force in multiple channels, including club, FDM, specialty and eCommerce. We also sell through a…View ↗
How Do They Make Money?
Retailers and other customers buy BellRing’s protein products; the company invoices them when goods are delivered, using previously agreed credit terms.
10-K for FY2025, filed Nov 18, 2025Revenue — The Company recognizes revenue when performance obligations have been satisfied by transferring control of the goods to…View ↗
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10-K for FY2025, filed Nov 18, 2025
FY2025 revenue by product or service ↗
$2.3B
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10-K for FY2025, filed Nov 18, 2025
$2.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Shakes and other beverages
Sold outright
10-K for FY2025, filed Nov 18, 2025 |
82%
FY2022: 79%
|
Shakes and other beverages, FY2025
$1.9B Sources
|
Sold outright |
|
Powders
Sold outright
10-K for FY2025, filed Nov 18, 2025 |
16%
FY2022: 18%
|
Powders, FY2025
$366.5M Sources
|
Sold outright |
|
Other Products
Sold outright
|
2.5%
FY2022: 3.3%
|
Other Products, FY2025
$57.2M Sources
|
Sold outright |
Who Are Their Customers?
Retailers, club stores, online sellers and distributors buy BellRing’s products. BellRing sells directly to retailers in several channels and uses brokers or distributors for convenience, regional grocery, foodservice, military and some international sales.
10-K for FY2025, filed Nov 18, 2025
10-K for FY2025, filed Nov 18, 2025
Three customers individually accounted for more than 10% of total net sales in each of the years ended September 30, 2025, 2024 and 2023.…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.
10-K for FY2025, filed Nov 18, 2025
$357.4MView ↗
10-K for FY2025, filed Nov 18, 2025
$216.2MView ↗
10-K for FY2025, filed Nov 18, 2025
$255.9MView ↗
How Are They Changing?
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Aug 4, 2026
BellRing updated its fiscal 2026 outlook
The revised net sales outlook is $2.335-$2.375 billion.
Sources
8-K, filed Aug 4, 2026
Third quarter net sales of $570.4 million, up 4% year-over-year Operating profit of $65.4 million, net earnings of $34.2 million and…View ↗
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Jul 8, 2026
BellRing named Michael Axelrod president and chief executive
He succeeded Darcy Davenport, who retired and moved to an advisor role.
Sources
8-K, filed Jul 8, 2026
On July 8, 2026, BellRing Brands, Inc. (the “Company”) announced that, following a comprehensive external search process, the Company’s…View ↗
Growing. Revenue grew 86% in 4 years, from $1.2B in FY2021 to $2.3B in FY2025, about 17% a year.
PowerBar in North America
BellRing’s earlier report included PowerBar in its active nutrition business; the latest report describes the North American PowerBar business as discontinued.
10-K for FY2022, filed Nov 17, 2022 10-K for FY2025, filed Nov 18, 2025Prior to completion of the Spin-off, and subsequent to Old BellRing’s initial public offering (the “Old BellRing IPO”), which was completed…View ↗
accelerated amortization of $17.4 million for the year ended September 30, 2024 related to the discontinuance of the PowerBar business in…View ↗
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