Barfresh Food Group, Inc. (BRFH) Income Statement
BRFH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBRFH revenue and net income
Where BRFH's revenue goes
2025Each bar shows an amount and its share of revenue. BRFH kept −19.0% of revenue as net income.
BRFH profit margins
BRFH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +32.6% | +15.7% | +40.8% | +52.3% |
| Gross profit | −15.1% | +29.3% | +32.4% | +43.4% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BRFH quarterly EPS vs estimates
Barfresh Food beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.05).
BRFH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.2M | $10.7M | $8.1M | $9.2M | $6.7M | $2.6M | $4.3M | $4.2M | $2.0M | $1.5M |
| Cost of revenue | $11.1M | $7.0M | $5.2M | $7.7M | $4.2M | $1.8M | $2.0M | $2.1M | $1.1M | $772,827 |
| Gross profit | $3.1M | $3.7M | $2.9M | $1.4M | $2.5M | $764,072 | $2.3M | $2.1M | $911,437 | $684,672 |
| Research & development | $128,000 | $132,000 | $115,000 | $382,000 | $245,000 | $515,145 | $538,391 | $674,224 | $574,989 | $432,146 |
| Sales, general & admin | $5.7M | $6.0M | $5.2M | $6.0M | $3.7M | $3.9M | $6.3M | $7.1M | $8.9M | $10.0M |
| Total operating expenses | $6.0M | $6.4M | $5.7M | $6.8M | $4.6M | $5.0M | $7.5M | $8.3M | $9.8M | $10.6M |
| Operating income | −$2.9M | −$2.8M | −$2.8M | −$5.4M | −$2.1M | −$4.2M | −$5.2M | −$6.2M | −$8.9M | −$9.9M |
| Interest expense | $217,000 | $52,000 | $8,000 | $746,000 | $128,000 | $479,144 | $1.2M | $764,813 | $0 | $250,850 |
| Income before taxes | −$3.0M | −$2.8M | −$2.8M | −$6.1M | −$1.3M | −$4.2M | −$5.6M | −$7.3M | −$8.9M | −$10.2M |
| Income taxes | −$285,000 | — | $2.8M | $746,000 | −$829,237 | −$56,596 | $406,098 | $1.1M | $0 | $250,850 |
| Net income | −$2.7M | −$2.8M | −$2.8M | −$6.1M | −$1.3M | −$4.2M | −$5.6M | −$7.3M | −$8.9M | −$10.2M |
| EBITDA | −$2.5M | −$2.5M | −$2.4M | −$5.7M | −$498,000 | −$3.6M | −$4.4M | −$5.6M | −$8.6M | −$9.7M |
| EPS (diluted) | −$0.18 | −$0.19 | −$0.22 | −$0.48 | −$0.12 | −$0.47 | −$0.53 | −$0.70 | −$1.03 | −$1.19 |
| Gross margin | 21.9% | 34.2% | 35.5% | 15.7% | 37.4% | 29.8% | 53.7% | 50.6% | 45.6% | 47.0% |
| Operating margin | −20.5% | −25.9% | −34.6% | −58.8% | −31.3% | −163.9% | −120.4% | −145.9% | −446.2% | −682.0% |
| Net margin | −19.0% | −26.4% | −34.7% | −67.0% | −18.9% | −161.7% | −129.9% | −172.9% | −446.2% | −699.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M | $5.6M | $5.4M | $4.2M | $1.6M | $2.9M | $2.8M | $3.6M | $1.5M | $2.8M | $1.9M | $2.6M |
| Cost of revenue | $4.9M | $4.6M | $5.4M | $2.7M | $1.1M | $2.0M | $2.1M | $2.4M | $955,000 | $1.7M | $1.3M | $1.7M |
| Gross profit | −$150,000 | $1.0M | $156,000 | $1.6M | $506,000 | $900,000 | $730,000 | $1.3M | $509,000 | $1.2M | $642,000 | $913,000 |
| Research & development | $37,000 | $24,000 | $46,000 | $33,000 | $31,000 | $19,000 | $33,000 | $52,000 | $17,000 | $30,000 | $27,000 | $32,000 |
| Sales, general & admin | $1.4M | $1.4M | $1.1M | $1.8M | $1.3M | $1.6M | $1.5M | $1.6M | $1.4M | $1.5M | $1.2M | $1.2M |
| Total operating expenses | $1.4M | $1.4M | $1.7M | $1.8M | $1.4M | $1.6M | $1.6M | $1.8M | $1.5M | $1.6M | $1.3M | $1.4M |
| Operating income | −$1.5M | −$414,000 | −$1.7M | −$260,000 | −$868,000 | −$738,000 | −$824,000 | −$500,000 | −$1.0M | −$446,000 | −$701,000 | −$475,000 |
| Interest expense | $344,000 | $225,000 | $152,000 | $30,000 | $12,000 | $23,000 | $28,000 | $13,000 | $8,000 | $3,000 | — | $1,000 |
| Income before taxes | −$1.9M | −$661,000 | −$763,000 | −$290,000 | −$880,000 | −$761,000 | −$852,000 | −$513,000 | −$1.0M | −$449,000 | −$701,000 | −$476,000 |
| Income taxes | — | −$285,000 | — | — | — | — | — | — | −$66,000 | $30,724 | $701,000 | $159,586 |
| Net income | −$1.9M | −$661,000 | −$763,000 | −$290,000 | −$880,000 | −$761,000 | −$852,000 | −$513,000 | −$1.0M | −$449,000 | −$701,000 | −$476,000 |
| EBITDA | −$1.4M | −$364,000 | −$1.6M | −$224,000 | −$793,000 | −$664,000 | −$758,000 | −$427,000 | −$933,000 | −$372,000 | −$606,000 | −$355,000 |
| EPS (diluted) | −$0.12 | −$0.04 | −$0.05 | −$0.02 | −$0.06 | −$0.05 | −$0.06 | −$0.03 | −$0.07 | −$0.03 | −$0.05 | −$0.04 |
| Gross margin | −3.2% | 18.3% | 2.9% | 36.7% | 31.1% | 30.7% | 26.2% | 34.6% | 34.8% | 41.4% | 33.4% | 35.1% |
| Operating margin | −32.2% | −7.4% | −31.4% | −6.1% | −53.4% | −25.2% | −29.6% | −13.7% | −68.6% | −15.8% | −36.5% | −18.2% |
| Net margin | −39.5% | −11.7% | −14.1% | −6.9% | −54.2% | −26.0% | −30.6% | −14.1% | −69.1% | −15.9% | −36.5% | −18.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BRFH's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BRFH financial results
In fiscal year 2025 (ended December 31, 2025), Barfresh Food reported revenue of $14.2 million, up 32.6% from the year before. It had a net loss of $2.7 million, a net profit margin of −19.0%. Diluted earnings per share came to −$0.18. Over five years revenue grew at an average rate of 40.8% a year.
See the BRFH stock overview for the latest quote and news, or the BRFH chart for price history and technical indicators.
BRFH income statement FAQ
What is Barfresh Food's annual revenue?
Barfresh Food reported total revenue of $14.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 32.6% from $10.7 million the previous year.
Is Barfresh Food profitable?
No. Barfresh Food reported a net loss of $2.7 million in fiscal 2025, a net profit margin of −19.0%; its operating margin was −20.5%.
What is Barfresh Food's gross margin?
Barfresh Food's gross margin was 21.9% in fiscal 2025: for every $100 of revenue, Barfresh Food kept $22 after the direct cost of its products and services.
How much does Barfresh Food spend on research and development?
Barfresh Food spent $0.1 million on research and development in fiscal 2025, 0.9% of revenue.
How fast is Barfresh Food growing?
Revenue grew 40.8% a year on average over the last five fiscal years, from $2.6 million to $14.2 million.
What are Barfresh Food's earnings per share?
Barfresh Food earned $-0.18 per diluted share in fiscal 2025, compared with $-0.19 a year earlier.
When will Barfresh Food report its next earnings?
Barfresh Food is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Barfresh Food's fiscal year end?
Barfresh Food's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 15, 2026.