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Barfresh Food Group Inc

barfresh.com

What Do They Do?

Sells ready-to-drink and ready-to-blend frozen beverages and food, including smoothies and juice pops, to school meal programs and food-service customers. Also sells raw and processed milk to a dairy customer.

How Do They Make Money?

Customers order frozen beverages, food and milk under approved sales orders; sales are completed when goods are accepted, generally on delivery to a customer warehouse.

revenue
SegmentShareRevenue
Food and Beverage
Sold outright

81%
Raw and Processed Milk
Sold outright

19%

Who Are Their Customers?

The company sells frozen beverages and food through national and regional accounts and broadline distributors, and supplies school districts primarily through distributors. It sells raw and processed milk directly to one customer.

Do Revenues Turn Into Profits?

No. It lost $2.7M in FY2025.

Operating income, FY2025
−24% of revenue
▲ +24% (Loss) vs FY2024 (−$2.8M, −26%)
Net income, FY2025
−19% of revenue
▼ −5% (Loss) vs FY2024 (−$2.8M, −26%)
Free cash flow, FY2025
−13% of revenue
▼ −22% (Loss) vs FY2024 (−$2.3M, −21%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +190%
vs $1.6M in Q2 FY2025
Net income
▲ +111% (Loss)
vs −$880K in Q2 FY2025
Food and Beverage share of revenue vs 100.0% in Q2 FY2025
  • Sep 1, 2026 Chief financial officer departed; CEO became interim finance chief Her last day was September 1, and the chief executive officer will serve as interim chief financial officer.
  • Aug 14, 2026 Barfresh revised its 2026 revenue and Adjusted EBITDA outlook It now expects revenue of $23 million to $26 million and Adjusted EBITDA of negative $1.0 to 2.0 million.
  • Aug 7, 2026 Nasdaq flagged a continued-listing shortfall that could lead to delisting The company had until February 1, 2027 to regain compliance; the notice did not immediately affect its listing.

Growing. Revenue grew 2.1x in 4 years, from $6.7M in FY2021 to $14.2M in FY2025, about 21% a year.

New milk business The latest report adds raw and processed milk sales to a single customer through Arps Dairy; the older report described frozen beverages only.

Juice pops added The latest report includes ready-to-eat juice pops in its product lineup; the older report listed smoothies, shakes and frappes.

Some production moved in-house The company previously relied entirely on contract manufacturers; after acquiring Arps Dairy, it has manufacturing capability of its own.

Revenue over time
Food and Beverage Raw and Processed Milk
$20M$10M$0

Who Do They Compete With?

Competes with Jamba Juice and McDonalds

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