Barfresh Food Group Inc. (OTC: BRFH) is a food and beverage company that manufactures and distributes ready-to-drink and ready-to-blend frozen beverages and food, including smoothies, shakes, frappes, and juice pops. Revenue is transactional, generated from product sales through distributors and retailers across four packaging formats. On October 3, 2025, the company acquired Arps Dairy, Inc., an Ohio-based dairy processor, adding raw and processed milk sales to a single customer as a secondary revenue stream. The legacy beverage business sells into U.S. military bases, USDA national school meal programs, and commercial foodservice channels. Headquartered in Los Angeles, California, the company was established via a 2012 reverse merger into a Delaware corporation formed February 25, 2010. CEO Riccardo Delle Coste and CFO Lisa Roger signed the 10-K filed April 15, 2026, covering fiscal years ended December 31, 2025 and 2024. Total general and administrative expenses were $3,186,000 in FY2025, up 5% from $3,043,000 in FY2024.

Revenue model

Transactional product sales of frozen beverage formats and dairy products. Beverage revenue comes from four packaging formats sold through distributors and retailers. Dairy revenue from Arps Dairy (acquired October 3, 2025) is concentrated in sales of raw and processed milk to a single customer. Variable consideration includes rebates and discounts estimated via the most-likely-amount method.

Products and services

Four beverage formats: (1) Twist & Go ready-to-drink smoothie; (2) bulk Easy Pour gallon-format concentrated mix for dispensing equipment at 1:1 with water, including a no-sugar-added version for USDA school meal programs; (3) WHIRLZ 100% Juice concentrate sold at ambient temperature, mixed 5:1 in dispensing equipment; (4) single-serve beverage packs for blending, containing sorbet, frozen yogurt, or ice cream base, real fruit, juices, and ice. In Q4 2024, the company introduced Pop & Go, a ready-to-eat juice pop. Arps Dairy adds raw and processed milk products from a 15,000-square-foot processing plant in Defiance, Ohio, with a 44,000-square-foot replacement facility under construction as of the filing date.

Customers and end markets

End markets include U.S. military bases (over 100 domestic and international bases under contract as of the filing, via U.S. Defense Logistics Agency approval), USDA national school meal programs, and commercial foodservice distributors and retailers. Arps Dairy sells raw and processed milk to a single customer. Customer concentration in the dairy segment is high by construction.

Value-chain role

Manufacturer and distributor. The company formulates, packages, and sells frozen beverage products and, following the Arps Dairy acquisition, processes and sells dairy products. Distribution relies on third-party distributors and retailers. The Arps Dairy acquisition added direct manufacturing capability the legacy business previously lacked.

Geographic exposure

Primary operations in the United States. Military base sales extend to bases abroad. Arps Dairy manufacturing is located in Defiance, Ohio. Corporate headquarters at 12100 Wilshire Boulevard, Los Angeles, California.

Source: SEC 10-K, filed 2026-04-15

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