Barfresh Food Group, Inc.
- Open
- 2.00
- Day high
- 2.04
- Day low
- 2.00
- Prev close
- 2.00
- Volume
- 0
- Mkt cap
- $32M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 19.2
- P/S
- 1.9
- Yield
- —
- Per share
- —
Barfresh Food Group, Inc. (BRFH) is a Consumer Defensive company listed on NASDAQ. The stock is down 40% over the past year.
Barfresh Food Group, Inc. (BRFH) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BRFH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.09 | $-0.04 | +52.9% | $6M | +11.0% |
| Nov 6, 2025 | $-0.01 | $-0.02 | -100.0% | $4M | -2.9% |
| Aug 13, 2025 | $-0.06 | $-0.06 | +0.0% | $2M | -71.3% |
| May 1, 2025 | $-0.05 | $-0.05 | +0.0% | $3M | +36.7% |
| Mar 27, 2025 | $-0.01 | $-0.06 | -500.0% | $3M | -33.1% |
| Oct 24, 2024 | $-0.01 | $-0.03 | -200.0% | $4M | -12.8% |
| Aug 14, 2024 | $-0.05 | $-0.07 | -40.0% | $1M | -31.9% |
| May 15, 2024 | $-0.05 | $-0.03 | +40.0% | $3M | +17.9% |
| Mar 22, 2024 | $-0.01 | $-0.05 | -400.0% | $2M | -34.8% |
| Oct 26, 2023 | $-0.03 | $-0.04 | -33.3% | $3M | -11.8% |
| Aug 14, 2023 | $-0.06 | $-0.06 | +0.0% | $2M | -29.7% |
| Mar 2, 2023 | $-0.07 | $-0.09 | -28.6% | $1M | -21.0% |
BRFH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Roger Lisaofficer: Chief Financial Officer | Tax | 2,963 | — |
| Apr 29, 2026 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Grant | 19,231 | $2.50 |
| Apr 29, 2026 | Roger Lisaofficer: Chief Financial Officer | Grant | 15,000 | — |
| Apr 17, 2026 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Grant | 31,848 | — |
| Apr 17, 2026 | Roger Lisaofficer: Chief Financial Officer | Grant | 6,800 | — |
| Mar 27, 2026 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Buy | 9,375 | $3.20 |
| Mar 27, 2026 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Buy | 0 | $2.90 |
| Mar 11, 2026 | Cugine Joseph M.director | Buy | 0 | $2.90 |
| Mar 11, 2026 | Cugine Joseph M.director | Buy | 62,500 | $3.20 |
| Jun 26, 2025 | Ortiz-Cochet Isabelledirector | Grant | 22,831 | $2.53 |
| Jun 26, 2025 | Cugine Joseph M.director | Grant | 19,763 | — |
| Jun 26, 2025 | WARE ALEXANDER Hdirector | Grant | 19,763 | — |
| Jun 26, 2025 | Lang Stevendirector, 10 percent owner: | Grant | 19,763 | — |
| May 19, 2025 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Buy | 2,700 | $2.48 |
| May 19, 2025 | Delle Coste Riccardodirector, 10 percent owner, officer: Chief Executive Officer | Buy | 51 | $2.48 |
Source: BRFH SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full BRFH insider & 13F page →Barfresh Food Group, Inc. company profile
Overview
Barfresh Food Group, Inc. (NASDAQ:BRFH) is a Los Angeles-based specialty food and beverage company founded in 2009 that went public in 2012. The company manufactures and distributes frozen beverage products primarily targeting the education market, with additional presence in military, entertainment, and foodservice channels. Barfresh has evolved from a startup focused on smoothie innovations to a growing player in the institutional beverage market, particularly within U.S. school systems where it has achieved approximately 5% market penetration.
Business
Barfresh operates in the frozen beverage manufacturing industry, specifically focusing on ready-to-drink and ready-to-blend frozen beverages. The company's core products are designed for institutional foodservice operations rather than direct consumer retail. The company's flagship product is Twist & Go, a frozen smoothie system designed primarily for school breakfast programs. This product comes in a proprietary format that allows school cafeteria staff to easily prepare smoothies by simply twisting the package and blending the contents. The smoothies are made with real fruit and provide nutritional value that meets school meal program requirements. Barfresh also produces Pop & Go, a newer product line consisting of 100% juice freeze pops targeting school lunch programs. These frozen treats are designed to complement lunch menus and represent a significant expansion opportunity since lunch programs typically have much higher volume potential than breakfast programs. Additional product offerings include WHIRLZ 100% Juice Concentrates, which are five-to-one concentrated juice products that can be reconstituted for various beverage applications, and traditional ready-to-drink bottled smoothies and shakes in various formats. The company's revenue is heavily concentrated in the education channel, which accounts for the vast majority of sales, with smaller contributions from military installations, entertainment venues like the Statue of Liberty, and other foodservice operations. The education segment represents approximately 90% of the company's business based on management commentary about their market focus and penetration metrics.
Revenue model
Barfresh generates revenue primarily through direct product sales to institutional customers, operating on a traditional manufacturing and distribution business model. The company sells its frozen beverage products to school districts, military facilities, and entertainment venues, with schools representing the dominant customer base. The company's customers are institutional foodservice operations that purchase products in bulk for their meal programs. School districts typically order products for their breakfast and lunch programs, with contracts often spanning entire school years. The company has built a extensive sales network covering 95% of the United States through regional sales brokers who manage relationships with local school districts and other institutional customers. Revenue growth is driven by expanding the number of school locations served (currently about 6,000 schools serving 2+ million students), introducing new products like Pop & Go freeze pops, and increasing penetration within existing accounts. The company has identified significant growth potential given they currently serve only 5% of the total addressable market in education. Margin pressures come from several factors including manufacturing capacity constraints, raw material cost inflation, and the need to maintain competitive pricing for price-sensitive institutional customers. The company has implemented 7-10% price increases to offset inflationary pressures but faces pushback from larger customers. Manufacturing efficiency improvements and scaling production volumes are key to margin expansion, with management targeting gross margins in the high 30s to low 40s range. The company's margins are also affected by manufacturing disruptions, as evidenced by recent transitions between manufacturing partners that temporarily impacted production costs and capacity utilization.
Competitive moat
Barfresh operates in a niche market with moderate competitive barriers but faces significant challenges in establishing a durable moat. The company's primary competitive advantages stem from its specialized product formats designed specifically for institutional foodservice operations and its established relationships within the education channel. The company has developed proprietary packaging and product formulations, particularly with the Twist & Go format, that are tailored to the operational needs of school cafeterias. This specialization creates some switching costs for customers who have integrated these products into their meal programs and trained staff on their preparation. Additionally, Barfresh has built relationships with 6,000+ schools and developed a comprehensive broker network covering 95% of the U.S., which represents meaningful distribution infrastructure. However, the company's moat appears relatively weak due to several factors. The frozen beverage market has low barriers to entry from a technology standpoint, and larger food companies with superior manufacturing scale and distribution capabilities could potentially enter this niche. The company has faced significant manufacturing challenges, including losing key production partners and experiencing supply disruptions, which demonstrates operational vulnerability. Competition could emerge from established food and beverage companies that decide to target the institutional market, private label manufacturers, or even in-house production by large school districts. The company's small scale (only 5% market penetration) and limited financial resources make it vulnerable to well-capitalized competitors who could undercut pricing or offer superior service reliability. The institutional customer base, while providing some stability, is also price-sensitive and could switch suppliers if offered better terms or more reliable supply chains.
Risks & safety
Barfresh presents significant financial risk with minimal margin of safety, reflecting a company in financial distress with limited resources to weather operational challenges. • Cash and Liquidity Crisis: Only $235,000 in cash as of Q4 2024, down from $1.2 million a year earlier. Current ratio of 1.04 indicates immediate liquidity stress with current liabilities nearly matching current assets. • Negative Cash Generation: Free cash flow of negative $2.3 million for fiscal 2024, with operating cash flow negative $2.2 million. The company is burning cash rapidly with no clear path to positive cash generation. • High Debt Burden: Debt-to-equity ratio of 1.44, indicating the company is heavily leveraged relative to its small equity base of approximately $578,000 in shareholder equity. • Valuation Metrics: Trading at 75x book value and negative EBITDA multiples, indicating extreme valuation stress. The company's enterprise value significantly exceeds any reasonable fundamental metrics. • Going Concern Risk: With minimal cash, negative cash flow, and high debt levels, the company faces immediate solvency risk and may require additional financing or face potential bankruptcy. • Operational Challenges: Recent manufacturing disruptions and capacity constraints add operational risk to an already precarious financial position.
Recent development
Over the past few years, Barfresh has undergone significant operational transformation focused on scaling manufacturing capacity and expanding its product portfolio. The company has addressed critical manufacturing constraints by establishing partnerships with three new manufacturing facilities, increasing total production capacity by 400% to over 120 million units annually. This expansion was necessitated after losing their largest bottle manufacturer, which had created severe supply chain disruptions. The company launched Pop & Go 100% Juice Freeze Pops as a strategic expansion into school lunch programs, representing a significant market opportunity since lunch volumes can be up to 5 times higher than breakfast programs where their existing Twist & Go products are primarily used. This product diversification is intended to increase revenue per school location and expand their addressable market within existing customer relationships. Barfresh has dramatically expanded its sales infrastructure, building a broker network that now covers 95% of the United States with 82+ salespeople in the Southeast region alone. The company has grown from serving approximately 3,000 schools to over 6,000 schools, representing more than 2 million students, though this still represents only 5% market penetration in the education channel. The company has also made key personnel additions including a VP of Supply Chain and Contract Manufacturing and a VP of Sales to support scaling operations. Recent financing activities include securing a $1.5 million receivables financing facility, raising $3 million through stock sales, and obtaining non-recourse litigation financing related to disputes with former manufacturing partners. Management projects 35-55% revenue growth for 2025 and expects to achieve full manufacturing capacity by Q2 2025.
BRFH company profile · for informational purposes only — not investment advice.
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