Borealis Foods (BRLS)
NASDAQ:BRLS
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Borealis Foods
(NASDAQ:BRLS)
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Rating:42Neutral
Price Target:
$0.86
▼(-45.66% Downside)
Action:ReiteratedDate:01/22/26
The score is driven primarily by very weak financial performance (large losses, negative equity, and ongoing cash burn) and bearish technical signals (below major moving averages with negative MACD). Additional downside risk comes from recent governance and lender-default related corporate events, while valuation provides limited support due to ongoing losses and no dividend yield.
Positive Factors
Revenue Growth
A sharp TTM revenue increase indicates growing product demand and expanding distribution. Durable top-line expansion provides operating leverage potential, improves negotiating position with suppliers and creditors, and forms a foundation for margin recovery if management controls SG&A and scale benefits over the next several months.
Negative Factors
Negative Equity & High Leverage
Negative shareholders’ equity signals capital erosion and materially reduces financial flexibility. High leverage with meaningless debt-to-equity ratios raises default risk, limits ability to raise non-dilutive capital, and constrains strategic options—an enduring impairment to stability until equity is repaired or debt restructured.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A sharp TTM revenue increase indicates growing product demand and expanding distribution. Durable top-line expansion provides operating leverage potential, improves negotiating position with suppliers and creditors, and forms a foundation for margin recovery if management controls SG&A and scale benefits over the next several months.
Read all positive factors
Borealis Foods (BRLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$31.12M
Dividend YieldN/A
Average Volume (3M)44.22K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth33.43%
EPS Growth25.00%
CountryUS
Employees147
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)N/A
Shares Outstanding21,463,306
10 Day Avg. Volume55,744
30 Day Avg. Volume44,222
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-173.95
Price to Sales (P/S)4.37
P/FCF Ratio-7.10
Enterprise Value/Market Cap2.11
Enterprise Value/Revenue2.35
Enterprise Value/Gross Profit24.24
Enterprise Value/Ebitda-5.99
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Borealis Foods Business Overview & Revenue Model
Company Description
Borealis Foods Inc. engages in the distribution of plant-based protein food products. The company's product includes Chef Woo, a high-protein meat alternative; and Ramen Express, vegetarian ramen noodles. Borealis Foods Inc. was incorporated in 20...
How the Company Makes Money
Borealis Foods generates revenue primarily through the sale of its food products to retailers, wholesalers, and directly to consumers. The company may also engage in licensing agreements for its proprietary food technologies or recipes, contributi...
Borealis Foods Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
4
Very Negative
Cash Flow
6
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 27.90M | 27.67M | 0.00 | 25.59M | 13.63M |
| Gross Profit | 2.71M | 2.19M | 0.00 | -8.07M | -212.99K |
| EBITDA | -10.96M | -18.08M | -2.77M | 564.79K | -7.74M |
| Net Income | -18.33M | -25.33M | -2.94M | -26.28M | -10.12M |
Balance Sheet | |||||
| Total Assets | 56.30M | 60.01M | 22.04M | 64.77M | 57.38M |
| Cash, Cash Equivalents and Short-Term Investments | 128.87K | 652.97K | 93.11K | 5.15M | 2.91M |
| Total Debt | 34.62M | 32.28M | 3.99M | 41.18M | 13.19M |
| Total Liabilities | 69.25M | 60.70M | 7.49M | 60.13M | 29.30M |
| Stockholders Equity | -12.95M | -695.89K | 14.56M | 4.64M | 28.08M |
Cash Flow | |||||
| Free Cash Flow | -4.84M | -17.06M | -22.47M | -2.11M | -27.99M |
| Operating Cash Flow | -4.58M | -15.09M | -18.01M | -2.11M | -6.78M |
| Investing Cash Flow | -259.81K | -1.91M | -4.47M | 0.00 | -21.21M |
| Financing Cash Flow | 4.25M | 10.03M | 24.94M | 1.66M | 27.52M |
Borealis Foods Technical Analysis
Negative
1.59
Price Trends
1.45
Negative
1.65
Negative
2.41
Negative
Market Momentum
-0.04
Positive
46.21
Neutral
46.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRLS, the sentiment is Negative. The current price of 1.59 is above the 20-day moving average (MA) of 1.53, above the 50-day MA of 1.45, and below the 200-day MA of 2.41, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 46.21 is Neutral, neither overbought nor oversold. The STOCH value of 46.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRLS.
Borealis Foods Risk Analysis
Borealis Foods disclosed 27 risk factors in its most recent earnings report. Borealis Foods 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 0 New Risks
Borealis Foods Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $21.09M | -350.92 | 4089.67% | ― | 0.04% | -65.10% | |
50 Neutral | $26.11M | -7.20 | -14.36% | ― | 17.73% | -34.71% | |
46 Neutral | $17.29M | -2.11 | -17.43% | ― | 18.19% | -35.22% | |
42 Neutral | $31.12M | -3.81 | 265.32% | ― | 33.43% | 25.00% |
* Consumer Defensive Sector Average
BRLS
Borealis Foods
1.45
-4.46
-75.47%
BRID
Bridgford Foods
7.50
-0.49
-6.13%
NAII
Natural Alternatives International
2.80
-0.20
-6.67%
BTOG
Bit Origin
2.39
-6.61
-73.44%
LSF
Laird Superfood
2.39
-2.74
-53.41%
WYHG
Wing Yip Food Holdings Group Limited Sponsored ADR
0.46
-7.02
-93.82%
Borealis Foods Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Borealis Foods Adds Independent Director to Board Committees
Neutral
Jan 29, 2026
On January 29, 2026, Borealis Foods Inc. appointed Amin Ajami as an independent director to fill a board vacancy created by the February 2025 resignation of Kanat Mynzhanov, with Ajami to serve until the company’s next annual shareholder mee...
Delistings and Listing ChangesRegulatory Filings and ComplianceShareholder Meetings
Borealis Foods Faces Nasdaq Non-Compliance Over Annual Meeting
Negative
Jan 16, 2026
Borealis Foods Inc., listed on Nasdaq under the symbol BRLS, was notified on January 12, 2026, that it is out of compliance with Nasdaq’s requirement to hold an annual meeting of shareholders within twelve months of its fiscal year-end. The ...
Financial DisclosuresPrivate Placements and Financing
Borealis Foods Faces Financial Default Challenges
Negative
Dec 16, 2025
On December 10, 2025, Borealis Foods Inc. received a letter from Frontwell Capital Partners Inc. regarding a Credit Agreement initially dated August 10, 2023. The letter highlighted ongoing and additional Events of Default, including failures to m...
Financial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Borealis Foods Faces Financial Challenges with Lender
Negative
Nov 19, 2025
Borealis Foods Inc. is facing significant financial challenges due to multiple Events of Default under its Credit Agreement with Frontwell Capital Partners Inc. As of November 13, 2025, the lender has imposed cash dominion over certain deposit acc...
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.