The Real Good Food Company, Inc. (RGFC) Income Statement
RGFC 2022 at a glance
Fiscal year ended December 31, 2022 · U.S. dollarsRGFC revenue and net income
Where RGFC's revenue goes
2022Each bar shows an amount and its share of revenue. RGFC kept −7.8% of revenue as net income.
RGFC profit margins
RGFC growth rates
to 2022| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +68.4% | +54.0% | — | — |
| Gross profit | +28.7% | +31.5% | — | — |
| 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.
RGFC quarterly EPS vs estimates
Real Good Food beat the analyst EPS estimate in 7 of the last 8 quarters.
RGFC income statement
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Revenue | $141.6M | $84.1M | $39.0M | $38.7M |
| Cost of revenue | $128.3M | $73.8M | $36.3M | $32.9M |
| Gross profit | $13.2M | $10.3M | $2.7M | $5.8M |
| Research & development | $4.8M | $2.0M | — | — |
| Sales, general & admin | $25.0M | $27.8M | $12.5M | $14.6M |
| Total operating expenses | $51.6M | $63.4M | $12.5M | $14.6M |
| Operating income | −$38.4M | −$53.1M | −$9.9M | −$8.8M |
| Interest expense | $7.4M | $5.4M | $5.7M | $5.4M |
| Income before taxes | −$45.7M | −$67.1M | −$15.5M | −$14.2M |
| Income taxes | — | — | $22,000 | — |
| Net income | −$11.0M | −$30.6M | −$15.6M | −$19.5M |
| EBITDA | −$35.0M | −$60.6M | −$9.3M | −$8.3M |
| EPS (diluted) | −$3.75 | −$1.43 | −$2.52 | — |
| Gross margin | 9.4% | 12.2% | 6.9% | 15.0% |
| Operating margin | −27.1% | −63.2% | −25.3% | −22.6% |
| Net margin | −7.8% | −36.4% | −39.9% | −50.4% |
| Sep '23 | Jun '23 | Mar '23 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | Mar '21 | Dec '20 | Sep '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.6M | $35.4M | $29.8M | $37.5M | $30.8M | $37.6M | $25.6M | $23.0M | $18.7M | $16.8M | $11.2M | $9.7M |
| Cost of revenue | $44.0M | $30.6M | $24.8M | $35.8M | $28.5M | $33.3M | $24.3M | $20.7M | $16.0M | $12.8M | $10.0M | $9.9M |
| Gross profit | $11.6M | $4.8M | $5.0M | $1.8M | $2.4M | $4.2M | $1.3M | $2.4M | $2.7M | $4.0M | $1.2M | −$162,000 |
| Research & development | $4.4M | $4.5M | $3.1M | $1.3M | $1.6M | $200,000 | $400,000 | $100,000 | $800,000 | $700,000 | — | — |
| Sales, general & admin | $10.1M | $9.3M | $8.7M | $6.1M | $6.1M | $12.9M | $42.3M | $7.9M | $3.0M | $2.8M | $3.1M | $2.8M |
| Total operating expenses | $20.5M | $15.4M | $15.7M | $12.4M | $12.2M | $12.9M | $42.3M | $7.9M | $6.8M | $6.4M | $3.1M | $2.8M |
| Operating income | −$8.9M | −$10.6M | −$10.7M | −$10.6M | −$9.8M | −$8.7M | −$41.1M | −$5.6M | −$4.1M | −$2.4M | −$1.9M | −$3.0M |
| Interest expense | $4.3M | $3.9M | $3.3M | $2.5M | $1.3M | $890,000 | $1.0M | $839,000 | $1.4M | $2.0M | $1.9M | $1.3M |
| Income before taxes | −$13.1M | −$14.6M | −$13.7M | −$13.1M | −$11.1M | −$9.6M | −$44.9M | −$11.8M | −$5.9M | −$4.4M | −$3.9M | −$4.2M |
| Income taxes | — | — | — | — | — | — | — | — | — | — | $9,000 | — |
| Net income | −$4.4M | −$4.2M | −$3.7M | −$3.1M | −$2.7M | −$3.2M | −$34.8M | −$11.8M | −$5.9M | −$4.4M | −$3.9M | −$4.2M |
| EBITDA | −$7.3M | −$9.0M | −$8.8M | −$9.7M | −$9.4M | −$8.3M | −$43.5M | −$10.7M | −$4.3M | −$2.1M | −$1.8M | −$2.8M |
| EPS (diluted) | $5.43 | $4.98 | $7.34 | −$13.98 | $6.82 | $3.60 | −$0.20 | −$0.76 | −$0.47 | — | — | — |
| Gross margin | 20.9% | 13.6% | 16.7% | 4.7% | 7.6% | 11.3% | 4.9% | 10.2% | 14.2% | 23.9% | 11.0% | −1.7% |
| Operating margin | −16.0% | −30.1% | −36.1% | −28.4% | −31.9% | −23.1% | −160.3% | −24.2% | −22.1% | −14.1% | −17.1% | −30.3% |
| Net margin | −8.0% | −11.8% | −12.4% | −8.4% | −8.6% | −8.5% | −136.0% | −51.4% | −31.8% | −26.2% | −34.5% | −43.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RGFC's financial statements (latest annual report filed April 28, 2023); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RGFC financial results
In fiscal year 2022 (ended December 31, 2022), Real Good Food reported revenue of $141.6 million, up 68.4% from the year before. It had a net loss of $11.0 million, a net profit margin of −7.8%. Diluted earnings per share came to −$3.75.
See the RGFC stock overview for the latest quote and news, or the RGFC chart for price history and technical indicators.
RGFC income statement FAQ
What is Real Good Food's annual revenue?
Real Good Food reported total revenue of $141.6 million for fiscal year 2022, which ended on December 31, 2022. That was up 68.4% from $84.1 million the previous year.
Is Real Good Food profitable?
No. Real Good Food reported a net loss of $11.0 million in fiscal 2022, a net profit margin of −7.8%; its operating margin was −27.1%.
What is Real Good Food's gross margin?
Real Good Food's gross margin was 9.4% in fiscal 2022: for every $100 of revenue, Real Good Food kept $9 after the direct cost of its products and services.
How much does Real Good Food spend on research and development?
Real Good Food spent $4.8 million on research and development in fiscal 2022, 3.4% of revenue.
What are Real Good Food's earnings per share?
Real Good Food earned $-3.75 per diluted share in fiscal 2022, compared with $-1.43 a year earlier.
When does Real Good Food's fiscal year end?
Real Good Food's fiscal year ends in December. The latest annual report covers the year ended December 31, 2022 and was filed on April 28, 2023.