Nepra Foods (NPRA) AI Stock Analysis

• Market Cap: C$11.90M
• Dividend Yield: N/A
• Average Volume (3M): 53.01K
• Price to Earnings (P/E): 33.4
• Beta (1Y): 1.74
• Revenue Growth: 69.12%
• EPS Growth: 43.02%
• Country: CA
• Employees: N/A
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): <0.01
• Shares Outstanding: 118,819,400
• 10 Day Avg. Volume: 58,086
• 30 Day Avg. Volume: 53,007
• PEG Ratio: 0.28
• Price to Book (P/B): -2.58
• Price to Sales (P/S): 1.37
• P/FCF Ratio: -74.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: C$0.10 ▼(-19.17% Downside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is primarily held back by weak financial fundamentals—negative equity, ongoing losses, and negative free cash flow—despite improving revenue and margins. Technical indicators are broadly neutral and provide limited offset, while valuation is constrained by negative earnings and no stated dividend yield.

Positive Factors

Revenue & margin improvement

Sustained revenue growth with a marked recovery in gross and net margins indicates the business model is scaling and unit economics are improving. Over 2-6 months this reduces structural cash burn, supports reinvestment in distribution and R&D, and improves the path to operational break-even if the trend continues.

Secular plant-based demand & diversified channels

Operating in the expanding alternative-protein market gives durable tailwinds for addressable demand. Multiple revenue channels (retail, foodservice, DTC, ingredient partnerships) reduce single-customer concentration, support scale-up, and enable cross-channel margin optimization over the medium term.

Improving cash burn trend

A meaningful reduction in cash burn signals better operational efficiency and tighter working-capital management. If management sustains this improvement, the firm reduces near-term funding needs, lengthens runway, and increases optionality for strategic investments or partnerships.

Negative Factors

Negative equity & weak balance sheet

Negative equity and debt materially larger than reported assets create structural solvency risk. This constrains the company's ability to obtain credit, limits counterparty confidence, and increases the likelihood of dilutive capital raises or restructuring, impairing long-term strategic flexibility.

Ongoing losses & negative operating margins

Persistent negative operating profitability means the core business is not yet self-funding. Continued losses erode balance sheet resilience, force reliance on external capital, and can limit investment in distribution, product development, and scale needed to capture sustained market share.

Elevated refinancing & dilution risk

Significant debt relative to scale and remaining negative cash flow make the company dependent on new financing. Repeated capital raises can dilute shareholders and divert management attention, while unfavorable financing terms can constrain margins and strategic options over several quarters.

Nepra Foods Business Overview & Revenue Model

Company Description

Nepra Foods (NPRA) is a food technology company focused on producing innovative plant-based food products. Operating primarily in the alternative protein sector, Nepra specializes in creating nutritious, sustainable food solutions that cater to the growing demand for plant-based diets. Their core product offerings include plant-based protein ingredients and ready-to-eat meals designed to meet the needs of health-conscious consumers and those with dietary restrictions.

How the Company Makes Money

Nepra Foods generates revenue through multiple streams, primarily by selling its plant-based food products to retail grocery chains, food service providers, and direct-to-consumer platforms. The company capitalizes on the increasing consumer shift towards plant-based diets, which allows it to tap into the expanding market for alternative proteins. Key revenue streams include wholesale distribution agreements with supermarkets and health food stores, e-commerce sales through its website, and partnerships with restaurants and meal kit companies. Additionally, Nepra may benefit from collaborations with food manufacturers looking to incorporate its proprietary ingredients into their products, further enhancing its revenue potential.

Nepra Foods Financial Statement Overview

Summary

Revenue growth and margins improved materially versus 2024, but the company remains loss-making with negative EBIT/EBITDA, negative equity, meaningful debt relative to assets, and still-negative operating/free cash flow—creating elevated solvency and funding risk.

Income Statement

Revenue has grown strongly into 2025 (2025-12-31 revenue growth ~10.4%) and profitability has improved materially versus 2024 (gross margin moved from deeply negative to +6.9%, and net margin improved from about -109% to about -25%). However, the business remains loss-making with negative EBIT and EBITDA margins in the latest annual period, indicating the core operation is still not generating operating profits despite the turnaround trend.

Balance Sheet

Financial position is weak: stockholders’ equity is negative in the most recent annual periods (2025-12-31 equity about -4.4M), which heightens solvency risk and limits financial flexibility. Total debt is sizable relative to the company’s scale (2025-12-31 debt about 6.4M vs. assets about 3.4M), and the negative equity makes leverage indicators structurally unfavorable, increasing refinancing and dilution risk.

Cash Flow

Cash generation remains pressured: operating cash flow and free cash flow are still negative in the latest annual period (2025-12-31 operating cash flow about -0.15M; free cash flow about -0.15M). That said, cash burn has improved significantly versus 2024 (operating cash flow less negative than prior year), consistent with the improving income statement, but the company is not yet self-funding.

Breakdown	Jun 2025	Jun 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.26M	6.25M	4.16M	6.06M	6.05M
Gross Profit	571.07K	-527.62K	-1.73M	-2.34M	753.09K
EBITDA	-955.41K	-986.52K	-3.03M	-5.60M	-5.51M
Net Income	-2.04M	-2.34M	-4.54M	-6.65M	-7.08M
Balance Sheet
Total Assets	3.38M	4.20M	4.50M	6.29M	7.92M
Cash, Cash Equivalents and Short-Term Investments	24.92K	44.74K	65.92K	89.53K	1.46M
Total Debt	6.38M	5.56M	5.48M	4.26M	3.02M
Total Liabilities	7.78M	8.12M	7.30M	5.89M	4.50M
Stockholders Equity	-4.40M	-3.92M	-2.80M	406.75K	3.42M
Cash Flow
Free Cash Flow	-151.82K	-1.20M	-1.91M	-6.10M	-7.03M
Operating Cash Flow	-151.82K	-1.20M	-1.91M	-5.85M	-6.62M
Investing Cash Flow	49.19K	49.19K	-6.14K	-32.84K	-543.91K
Financing Cash Flow	-19.26K	1.13M	1.89M	4.39M	8.28M

Nepra Foods Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NPRA, the sentiment is Positive. The current price of 0.12 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.10, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 50.05 is Neutral, neither overbought nor oversold. The STOCH value of 30.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NPRA.

Nepra Foods Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
PNGA	48 Neutral	C$9.98M	-2.15	-241.90%	―	-49.04%	15.66%
BU	47 Neutral	C$26.65M	-1.45	-1208.82%	―	190.07%	-2.88%
MEAT	47 Neutral	C$1.76M	-4.08	―	―	-3.76%	86.34%
NPRA	44 Neutral	C$11.90M	33.38	―	―	69.12%	43.02%
BABY	44 Neutral	C$2.99M	-3.11	5435.74%	―	-25.08%	65.57%
CULT	42 Neutral	C$623.83K	-1.00	-190.55%	―	―	-126.28%

Nepra Foods Corporate Events

Nepra Foods Posts First Quarterly Profit as Revenue Jumps 51%

Nepra Foods Inc. reported its first-ever quarterly net income as revenue and margins surged for the quarter and nine-month period ended December 31, 2025. The company posted Q3 revenue of $2.23 million, up 54% year-over-year, with gross profit rising 60% and a swing to net income of $84,966 from a substantial loss a year earlier.

For the first nine months of fiscal 2025, revenue climbed 51% to $5.97 million, gross profit more than doubled to $1.86 million with margins expanding to 31.1%, and operating expenses fell 18%. The improved cost discipline and stronger sales mix turned operating cash flow positive, signaling meaningful progress toward sustainable profitability and bolstering Nepra’s positioning in the growing allergen-free and better-for-you foods market.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.09 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.

Nepra Foods Converts Insider Debt to Equity Amid Financial Strain

Nepra Foods has converted about US$487,849 of outstanding debt owed to its chief executive and largest shareholder, William Hogan, into 6,969,273 common shares, aiming to strengthen its strained balance sheet. The insider debt-for-equity swap, approved by the company’s independent directors under Canadian related-party rules due to serious financial difficulty, results in new shares subject to a standard four‑month holding period and underscores the company’s reliance on equity-based restructuring rather than new cash financing.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.

Nepra Foods Converts Insider Debt to Equity to Strengthen Balance Sheet

Nepra Foods Inc. has agreed with its CEO and largest shareholder, William Hogan, to convert USD$487,849.10 of outstanding debt under a revolving promissory note into 6,969,273 common shares at CAD$0.10 per share. The transaction, expected to close within days subject to Canadian Securities Exchange policies, eliminates the company’s obligations under the note and releases all related security held by the lender.

Because Hogan is an insider, the conversion is deemed a related-party transaction under Canadian securities rules, but Nepra is relying on exemptions from formal valuation and minority approval requirements. Independent directors concluded the company is in serious financial difficulty and that the debt-to-equity conversion is a reasonable measure to improve its financial position, signalling both balance-sheet relief and further ownership concentration for existing stakeholders.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.09 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.

Nepra Foods CEO William Hogan Lowers Potential Stake as Warrants Expire and Are Transferred

William Hogan, chief executive officer and director of Nepra Foods Inc., has reduced his potential ownership position in the company by transferring 4,742,857 common share purchase warrants to three third parties for nominal consideration and allowing all remaining warrants he held to expire unexercised. As a result, Hogan’s interest now consists solely of 34,285,572 common shares, lowering his partially diluted ownership from about 36.27% to 28.86% (or from 30.73% to 24.28% when accounting for the conversion of all Class A multiple voting shares), a change that may affect the company’s ownership concentration and future control dynamics, and has triggered the filing of an early warning report under Canadian securities regulations.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.09 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.

Nepra Foods’ CVO to Lead Gluten-Free Pretzel Training as Market Demand Rises

Nepra Foods announced that Chief Visionary Officer and Certified Master Baker Chadwick White will lead a gluten-free pretzel training session at Reading Bakery Systems’ 2026 Hands-On Pretzel Training Seminar, highlighting his two decades of experience and his role in developing a majority of the gluten-free pretzels currently on the market. The collaboration with Reading Bakery Systems, a major supplier of commercial baking equipment, is expected to strengthen Nepra’s positioning as a leader in gluten-free product development and ingredient applications, giving the company access to high-level industry partners and insights at a time when the North American pretzel and broader gluten-free snack markets are expanding and U.S. dietary guidelines are shifting toward higher-protein, whole-grain, and cleaner-label foods.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.

Nepra Foods Hires Veteran Organic Trader Cotter Stern to Lead Ingredient Sales

Nepra Foods has appointed industry veteran Cotter Stern as Director of Ingredient Sales, a move aimed at capitalizing on rising demand for its specialty and allergen-free ingredient portfolio. With more than 15 years’ experience in organic food trading and global commodity markets, Stern is expected to strengthen Nepra’s supply chain reliability, deepen client relationships, and help convert growing market interest into recurring revenue streams as the company scales within the competitive CPG ingredients sector.

The most recent analyst rating on (TSE:NPRA) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Nepra Foods stock, see the TSE:NPRA Stock Forecast page.