Barfresh Food Group (BRFH)
NASDAQ:BRFH
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Barfresh Food Group
(NASDAQ:BRFH)
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Rating:52Neutral
Price Target:
$3.00
▲(4.90% Upside)
Action:ReiteratedDate:01/29/26
The score is held back primarily by weak financial performance (ongoing losses, continued cash burn, and a more leveraged balance sheet). Offsetting this, management commentary and guidance are strong, supported by record revenue and positive adjusted EBITDA, while technicals are neutral-to-slightly positive. Valuation remains a caution due to negative earnings and no dividend signal.
Positive Factors
Integrated Manufacturing (Arps Dairy)
Owning Arps Dairy gives Barfresh in-house manufacturing and operational control, reducing dependence on co-packers. This structural capability supports consistent supply, faster product launches, lower per-unit costs and better margin capture as volumes scale over the next 2-6 months and beyond.
Negative Factors
Persistent Cash Burn
Consistent negative operating and free cash flow signals reliance on external financing to fund growth and operations. Continued cash burn constrains reinvestment capacity, increases dilution or leverage risk, and reduces resilience to execution delays while scaling manufacturing and distribution.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Manufacturing (Arps Dairy)
Owning Arps Dairy gives Barfresh in-house manufacturing and operational control, reducing dependence on co-packers. This structural capability supports consistent supply, faster product launches, lower per-unit costs and better margin capture as volumes scale over the next 2-6 months and beyond.
Read all positive factors
Barfresh Food Group (BRFH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.31M
Dividend YieldN/A
Average Volume (3M)141.77K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth17.48%
EPS Growth0.77%
CountryUS
Employees11
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)-0.08
Shares Outstanding15,969,281
10 Day Avg. Volume13,892
30 Day Avg. Volume141,770
Financial Highlights & Ratios
PEG Ratio1.60
Price to Book (P/B)74.66
Price to Sales (P/S)4.03
P/FCF Ratio-18.91
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue3.89
Enterprise Value/Gross Profit12.19
Enterprise Value/Ebitda-18.32
Forecast
1Y Price Target
$5.25Price Target Upside83.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$28.04M
Barfresh Food Group Business Overview & Revenue Model
Company Description
Barfresh Food Group, Inc. manufactures and distributes ready-to-drink and ready-to-blend frozen beverages in the United States. The company offers smoothies, shakes and frappes in various formats comprising ready-to-drink bottled, easy pour, juice...
How the Company Makes Money
Barfresh Food Group makes money through the sale of its ready-to-blend frozen beverages to various foodservice operators. The company's revenue model is primarily based on selling these products to restaurants, convenience stores, and schools, whi...
Barfresh Food Group Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive, transformational narrative: record revenue, a strategic acquisition that brings manufacturing control, financing and a government grant that accelerate capacity, and aggressive fiscal 2026 revenue and EBITDA guidance. These positives are tempered by substantial near-term margin compression, larger adjusted EBITDA losses in 2025, an extended facility implementation timeline (now targeting Q4 2026), and modest liquidity at year-end. Management expects margin recovery and positive adjusted EBITDA as the owned facility is fully commissioned.Positive Updates
Record Revenue — Q4 and Full Year 2025
Q4 2025 revenue reached a company record of $5.4M (up 94% YoY). Full year 2025 revenue was a record $14.2M (up 33% YoY). The Arps Dairy acquisition contributed $2.9M to 2025 revenue.
Negative Updates
Sharp Compression in Gross Margins
Q4 2025 gross margin collapsed to 3% vs 26% in Q4 2024 (down 23 percentage points). Q4 adjusted gross margin was 4% vs 30% prior (down 26 percentage points). Full-year 2025 adjusted gross margin was 22% vs 37% in 2024 (down 15 percentage points). Management attributes the decline to startup/implementation costs from bringing production in-house and lower-margin milk processing operations at Arps.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue — Q4 and Full Year 2025
Q4 2025 revenue reached a company record of $5.4M (up 94% YoY). Full year 2025 revenue was a record $14.2M (up 33% YoY). The Arps Dairy acquisition contributed $2.9M to 2025 revenue.
Read all positive updates
Company Guidance
Management guided fiscal 2026 revenue of $28.0–$32.0 million (implying ~97%–125% YoY growth versus 2025’s $14.2M) and adjusted EBITDA of $3.2–$3.8 million, with Q1 2026 revenue expected at $5.0–$5.2M and adjusted‑EBITDA breakeven. The outlook assumes full‑year inclusion of Arps (which contributed $2.9M in 2025), recovery and growth of legacy Barfresh customers, and progressive ramping of the newly acquired manufacturing capacity that management says can ultimately support over $200M of annual revenue; equipment completion is targeted before year‑end (Q4) 2026. Financing support includes a $7.5M senior convertible note closed in March 2026 and a $2.4M government grant for equipment, and the company expects margin recovery and to turn positive on adjusted EBITDA in 2026, with stronger improvement in H2 as facility enhancements are commissioned.Barfresh Food Group Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.57M | 10.72M | 8.13M | 9.16M | 6.70M | 2.57M |
| Gross Profit | 3.69M | 3.67M | 2.88M | 1.44M | 2.51M | 764.07K |
| EBITDA | -2.45M | -2.49M | -2.41M | -4.94M | -498.00K | -3.60M |
| Net Income | -2.78M | -2.83M | -2.82M | -6.13M | -1.26M | -4.15M |
Balance Sheet | ||||||
| Total Assets | 6.79M | 3.32M | 4.81M | 5.50M | 9.72M | 5.82M |
| Cash, Cash Equivalents and Short-Term Investments | 1.89M | 235.00K | 1.89M | 2.81M | 5.53M | 1.82M |
| Total Debt | 1.74M | 832.00K | 0.00 | 20.00K | 95.00K | 1.89M |
| Total Liabilities | 4.87M | 2.74M | 2.31M | 2.57M | 1.54M | 3.49M |
| Stockholders Equity | 1.92M | 578.00K | 2.50M | 2.93M | 8.18M | 2.32M |
Cash Flow | ||||||
| Free Cash Flow | -2.89M | -2.28M | -2.96M | -2.66M | -2.01M | -3.27M |
| Operating Cash Flow | -2.86M | -2.23M | -2.96M | -2.65M | -1.86M | -3.20M |
| Investing Cash Flow | -34.00K | -53.00K | 0.00 | -13.00K | -150.54K | -59.66K |
| Financing Cash Flow | 4.38M | 626.00K | 1.83M | 5.00K | 5.73M | 4.20M |
Barfresh Food Group Technical Analysis
Positive
2.86
Price Trends
2.80
Positive
2.96
Negative
3.07
Negative
Market Momentum
0.02
Negative
55.40
Neutral
57.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRFH, the sentiment is Positive. The current price of 2.86 is above the 20-day moving average (MA) of 2.75, above the 50-day MA of 2.80, and below the 200-day MA of 3.07, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.40 is Neutral, neither overbought nor oversold. The STOCH value of 57.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $2.91B | 42.30 | 23.19% | ― | 23.12% | 16.20% | |
69 Neutral | $4.16B | 14.87 | 24.24% | 4.78% | 18.92% | 34.03% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
52 Neutral | $46.31M | -15.32 | -151.77% | ― | 17.48% | 0.77% | |
52 Neutral | $384.38M | ― | -241.39% | ― | 3.37% | 46.17% | |
46 Neutral | $87.87M | -15.19 | -19.06% | ― | 6.17% | 41.09% |
* Consumer Defensive Sector Average
BRFH
Barfresh Food Group
2.90
0.36
14.17%
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Barfresh Food Group Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Barfresh Projects Strong 2026 Growth After Record Revenue
Positive
Jan 29, 2026
On January 29, 2026, Barfresh reported record preliminary fiscal 2025 revenue of $14.2 million, a 32% increase over 2024 and the highest in the company’s history, driven in part by its acquisition of Arps Dairy, which has strengthened its op...
Business Operations and StrategyExecutive/Board Changes
Barfresh Director Ortiz-Cochet to Retire; Unibel Retains Influence
Neutral
Jan 23, 2026
On January 19, 2026, Barfresh Food Group announced that director Isabelle Ortiz-Cochet, who serves on the Nominating and Governance Committee and was initially appointed under a 2016 investor rights agreement with Unibel, notified the company she ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Barfresh Food Group Acquires Arps Dairy to Boost Growth
Positive
Nov 6, 2025
Barfresh Food Group reported record quarterly revenue of $4.2 million for the third quarter of 2025, marking a 16% year-over-year increase. The company achieved positive adjusted EBITDA and a gross margin of 37%, driven by improved production cons...
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.