Barfresh Food Group (BRFH)
NASDAQ:BRFH
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Barfresh Food Group
(NASDAQ:BRFH)
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Rating:45Neutral
Price Target:
$2.00
▼(-30.07% Downside)
Action:Reiterated
Date:06/13/26
The score is held down primarily by weak financial fundamentals (ongoing losses, high leverage, and negative operating/free cash flow) and bearish technicals (below major moving averages with negative MACD). Offsetting this, management reiterated FY2026 guidance targeting positive adjusted EBITDA and highlighted strong revenue momentum, but margin compression and near-term EBITDA losses keep the risk profile elevated.
Positive Factors
Revenue Growth Momentum
Substantial recurring revenue growth driven by the Arps acquisition and expanded channel placement indicates durable demand and successful commercial execution. Multi-year contract wins and a clear uptrend provide a structural base for scaling sales and improving operating leverage as volumes normalize.
Negative Factors
Margin Compression
A material decline in gross margins driven by a higher mix of low‑margin processed milk and startup inefficiencies is a structural concern. Unless higher‑margin channels and production efficiencies materialize post‑ramp, sustained margin recovery to targeted levels will be difficult within the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Substantial recurring revenue growth driven by the Arps acquisition and expanded channel placement indicates durable demand and successful commercial execution. Multi-year contract wins and a clear uptrend provide a structural base for scaling sales and improving operating leverage as volumes normalize.
Read all positive factors
Barfresh Food Group (BRFH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$35.19M
Dividend YieldN/A
Average Volume (3M)141.77K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth56.30%
EPS Growth22.45%
CountryUS
Employees11
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)-0.16
Shares Outstanding16,143,501
10 Day Avg. Volume13,892
30 Day Avg. Volume141,770
Financial Highlights & Ratios
PEG Ratio1.65
Price to Book (P/B)35.18
Price to Sales (P/S)3.29
P/FCF Ratio-26.15
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue2.55
Enterprise Value/Gross Profit13.27
Enterprise Value/Ebitda-19.53
Forecast
1Y Price Target
$5.25Price Target Upside83.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.06
Revenue Forecast (FY)$29.98M
Barfresh Food Group Business Overview & Revenue Model
Company Description
Barfresh Food Group, Inc. specializes in the production and distribution of frozen beverages throughout the United States. The company offers a range of convenient drink options, including both ready-to-consume and ready-to-mix varieties. Their pr...
How the Company Makes Money
Barfresh makes money primarily by selling its beverage products (notably single-serve, ready-to-blend smoothie items) to business customers in foodservice and related on-premise channels. Revenue is generally generated on a per-unit basis when cus...
Barfresh Food Group Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call conveyed clear operational momentum: large revenue growth (92% YoY), a major multi-year school district win, manufacturing integration progress and strengthened capital availability. However, meaningful near-term margin pressure from the Arps revenue mix and start-up inefficiencies, a still-negative adjusted EBITDA in Q1, and modest liquidity introduce execution and financing risks. Management reiterated constructive guidance and expects margin recovery as new equipment is installed and the new facility is commissioned.Positive Updates
Strong Revenue Growth
Q1 2026 revenue of $5.6M versus $2.9M in Q1 2025, representing a 92% year-over-year increase driven primarily by the Arps acquisition and related milk processing contribution.
Negative Updates
Sharp Gross Margin Compression
Gross margin fell to 18% in Q1 2026 from 31% in Q1 2025 (a 13 percentage point decline), largely due to the higher mix of lower-margin Arps processed milk and transition costs at new facilities.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Q1 2026 revenue of $5.6M versus $2.9M in Q1 2025, representing a 92% year-over-year increase driven primarily by the Arps acquisition and related milk processing contribution.
Read all positive updates
Company Guidance
The company reiterated full-year fiscal 2026 guidance of $28.0–$32.0 million in revenue and $3.2–$3.8 million in adjusted EBITDA, and called out Q2 guidance of $5.2–$5.6 million in revenue with an adjusted EBITDA loss of $0.3–$0.2 million; management expects to achieve positive adjusted EBITDA for FY2026 and year‑over‑year quarterly improvement as production ramps. For context, Q1 revenue was $5.6 million (versus $5.0–$5.2 million guidance and $2.9 million a year ago, +92% YoY), adjusted EBITDA loss was ~$(238)k (vs. breakeven modeled), gross margin was 18% (vs. 31% prior year) and the processed‑milk segment ran about a 5% margin; Arps Dairy supported ~50% of frozen beverage/food volume in Q1. Capital and operational milestones tied to the guidance include ~$4.1 million of cash and receivables, ~$1.8 million inventory, a $7.5 million senior convertible note closed in March, a $2.4 million government grant for equipment, and plans to commission the 44,000‑sq‑ft Defiance, OH facility before year‑end 2026 (with potential remortgaging to pay down debt), with normalized gross margins targeted in the low‑40% range as new equipment and the school‑year ramp take effect.Barfresh Food Group Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
24
Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.21M | 10.72M | 8.13M | 9.16M | 6.70M |
| Gross Profit | 3.11M | 3.67M | 2.88M | 1.44M | 2.51M |
| EBITDA | -2.51M | -2.49M | -2.41M | -5.69M | -498.00K |
| Net Income | -2.69M | -2.83M | -2.82M | -6.13M | -1.26M |
Balance Sheet | |||||
| Total Assets | 12.83M | 3.32M | 4.81M | 5.50M | 9.72M |
| Cash, Cash Equivalents and Short-Term Investments | 325.00K | 235.00K | 1.89M | 2.81M | 5.53M |
| Total Debt | 4.92M | 832.00K | 0.00 | 20.00K | 95.00K |
| Total Liabilities | 11.50M | 2.74M | 2.31M | 2.57M | 1.54M |
| Stockholders Equity | 1.33M | 578.00K | 2.50M | 2.93M | 8.18M |
Cash Flow | |||||
| Free Cash Flow | -1.79M | -2.28M | -2.96M | -2.66M | -2.01M |
| Operating Cash Flow | -1.67M | -2.23M | -2.96M | -2.65M | -1.86M |
| Investing Cash Flow | -1.35M | -53.00K | 0.00 | -13.00K | -150.54K |
| Financing Cash Flow | 3.10M | 626.00K | 1.83M | 5.00K | 5.73M |
Barfresh Food Group Technical Analysis
Negative
2.86
Price Trends
2.50
Negative
2.67
Negative
2.94
Negative
Market Momentum
-0.09
Positive
35.85
Neutral
20.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRFH, the sentiment is Negative. The current price of 2.86 is above the 20-day moving average (MA) of 2.30, above the 50-day MA of 2.50, and below the 200-day MA of 2.94, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 35.85 is Neutral, neither overbought nor oversold. The STOCH value of 20.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRFH.
Barfresh Food Group Risk Analysis
Barfresh Food Group disclosed 32 risk factors in its most recent earnings report. Barfresh Food Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
Our use of information technology and third-party service providers exposes us to cybersecurity breaches and other business disruptions. Q4, 2023
2.
We may not be able to continue to comply with Nasdaq listing standards. Q4, 2023
Barfresh Food Group Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $4.62B | 55.73 | 25.43% | ― | 23.05% | 36.53% | |
65 Neutral | $4.09B | 12.16 | 25.26% | 4.78% | 5.80% | 23.83% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
50 Neutral | $113.94M | -14.42 | -13.99% | ― | 9.76% | 67.59% | |
45 Neutral | $35.19M | -13.48 | -151.77% | ― | 56.30% | 22.45% | |
44 Neutral | $255.42M | -1.68 | -447.55% | ― | 8.84% | 10.68% |
* Consumer Defensive Sector Average
BRFH
Barfresh Food Group
2.16
-0.63
-22.58%
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22.94
3.07
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8.30
-4.72
-36.25%
ZVIA
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1.27
-1.73
-57.67%
COCO
Vita Coco Company
82.85
49.48
148.28%
Barfresh Food Group Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Barfresh Shareholders Back Board, Boost Authorized Share Count
Positive
Jun 12, 2026
At its annual meeting of stockholders held on June 11, 2026, Barfresh Food Group shareholders re-elected all six incumbent directors to the company’s board, with each nominee receiving strong support in the vote tallies. Shareholders also ra...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Barfresh Food Group Reports Record Q1 Revenue Growth
Positive
May 14, 2026
On May 14, 2026, Barfresh Food Group reported that first-quarter 2026 revenue surged 92% year over year to a record $5.6 million, driven largely by the October 2025 acquisition of Arps Dairy’s raw and processed milk business. While gross mar...
Business Operations and StrategyExecutive/Board Changes
Barfresh Food Group Adds Industry Veterans to Board
Positive
Apr 6, 2026
On April 6, 2026, Barfresh Food Group announced that global manufacturing executive Marc Panvier and beverage industry veteran Tim Trant joined its board of directors, effective April 1, 2026. Panvier, a senior operations leader at Bel Brands USA,...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Barfresh Sets Strong 2026 Growth Outlook and Financing
Positive
Mar 31, 2026
Barfresh reported that fiscal 2025 was a transformational year, posting record annual revenue of $14.2 million, up 33% from 2024, and fourth-quarter revenue of $5.4 million, up 94% year over year, largely driven by the Arps Dairy acquisition and e...
Executive/Board Changes
Barfresh Food Group Announces Board Director Resignation
Neutral
Mar 13, 2026
On March 10, 2026, Barfresh Food Group Inc. announced that director Justin Borus notified the company he would resign from the board, with the company stating the decision did not arise from any disagreement. Borus, who had served on the boardR...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.