Borealis Foods Inc. (BRLS) AI Stock Analysis

Headquartered in Oakville, Canada, Borealis Foods Inc. specializes in the distribution of plant-based protein food products. Established in 2020, the company develops and markets alternatives to traditional meat products. Its primary offerings include Chef Woo, a high-protein meat substitute aimed at health-conscious consumers seeking plant-based nutrition, and Ramen Express, a line of vegetarian ramen noodles catering to meat-free dietary preferences. Borealis Foods leverages product innovation and food distribution expertise to meet rising consumer demand for sustainable and health-oriented food choices, targeting market expansion across the global plant-based protein food sector.

From FY2021 to FY2025, Borealis Foods expanded revenue from $23.6M to $44.6M, representing a 4-year revenue compound annual growth rate of 17.2%. Annual revenue fluctuated sharply, dipping to $5.1M in FY2023 before surging 879.6% to $50.3M in FY2024. In FY2025, revenue declined 11.2% to $44.6M, while gross margin stood at 40.5% and operating margin was -24.7%. The company recorded a net loss of -$19.0M in FY2025, following a net loss of -$25.3M in FY2024. For the trailing twelve months ended March 31, 2026, revenue totaled $30.6M with a profit margin of -59.8% and diluted EPS of -$0.88, although quarterly revenue rose 7.6% year-over-year in the latest quarter.

As of March 31, 2026, Borealis Foods held $479,857 in cash and short-term investments alongside total debt of $26.2M, resulting in net debt of $25.7M. The company reported negative shareholders' equity of -$22.7M on total assets of $50.9M, with a current ratio of 0.09. Operating cash flow in FY2025 was -$6.6M, while free cash flow was -$6.7M after capital expenditures of $68,816. The company does not pay dividends, and its 5-year share count change was -2.0%.

Borealis Foods trades at a price-to-sales multiple of 0.7x, matching the 0.7x median of its US-listed Consumer Defensive peers. Its enterprise value of $53.4M reflects an EV-to-revenue ratio of 1.7x, while price-to-book stands at 14.0x. Operating margin over the trailing twelve months is -28.0%, below the peer median operating margin of 9.8%. The company has a market capitalization of $22.5M. Over the past year, BRLS shares dropped 68.5%, significantly lagging the 16.8% gain for the S&P 500, while its 5-year return of -89.3% compares to an 83.0% increase for the S&P 500.

Borealis Foods Inc. does not have published Wall Street analyst ratings, consensus earnings estimates, or price targets listed in its reporting data. The company's next scheduled earnings date is November 18, 2026. Without published consensus forecasts or earnings surprise records, investors track performance through quarterly filings, including its latest quarter ended March 31, 2026, which posted quarterly revenue growth of 7.6%.

This page is an AI-written research summary of Borealis Foods Inc. (BRLS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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