Barfresh Food (BRFH)
Market Price (11/8/2026): $0.465 | Market Cap: $7.6 MilSector: Consumer Staples | Industry: Soft Drinks & Non-alcoholic Beverages
Barfresh Food (BRFH)
Market Price (11/8/2026): $0.465Market Cap: $7.6 MilSector: Consumer StaplesIndustry: Soft Drinks & Non-alcoholic Beverages
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 82% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Functional Foods & Beverages, Organic & Natural Products, Show more. | Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -146% | Penny stockMkt Price is 0.5 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 108% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -21% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54% Key risksBRFH key risks include [1] severe financial distress, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 82% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Functional Foods & Beverages, Organic & Natural Products, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -111%, 3Y Excs Rtn is -146% |
| Penny stockMkt Price is 0.5 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -16% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 108% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -21% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54% |
| Key risksBRFH key risks include [1] severe financial distress, Show more. |
Qualitative Assessment
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Barfresh Food (BRFH) stock has lost about 70% since 7/31/2026 because of the following key factors:
1. Significant Q2 2026 Earnings Miss and Revised Fiscal Year Guidance. Barfresh Food Group announced its fiscal Q2 2026 results on August 14, 2026, reporting a net loss of $1.9 million and an Adjusted EBITDA loss of $1.2 million, both wider than the previous year. The company's Earnings Per Share (EPS) of -$0.12 missed the consensus estimate of -$0.05 by $0.07. Although revenue increased by 190% year-over-year to $4.7 million, it still fell below consensus expectations. Following these results, management revised its full-year fiscal 2026 revenue guidance downward to $23 million-$26 million and projected a full-year Adjusted EBITDA loss of $1.0 million-$2.0 million. This announcement led to a substantial stock price decline of 30.73% on August 14, 2026.
2. Negative Gross Margins and Production Inefficiencies from Arps Dairy Acquisition. A core reason for the widened losses and revised guidance in fiscal Q2 2026 was the negative gross margin, which stood at a loss of $150,000, or 3.2% of revenue, compared to a 31.1% profit margin in the prior year. This was attributed to startup costs and slower-than-anticipated production efficiency at the existing facility following the Arps Dairy acquisition. Management has identified the completion of a new 44,000-square-foot facility in Defiance, Ohio, as a top operational priority to improve production economics. While a $2.4 million USDA grant for this facility received re-approval on September 8, 2026, the facility is not yet fully operational and must utilize the grant proceeds by the end of 2026.
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Barfresh Food (BRFH) stock has lost about 70% since 7/31/2026 because of the following key factors:
1. Significant Q2 2026 Earnings Miss and Revised Fiscal Year Guidance. Barfresh Food Group announced its fiscal Q2 2026 results on August 14, 2026, reporting a net loss of $1.9 million and an Adjusted EBITDA loss of $1.2 million, both wider than the previous year. The company's Earnings Per Share (EPS) of -$0.12 missed the consensus estimate of -$0.05 by $0.07. Although revenue increased by 190% year-over-year to $4.7 million, it still fell below consensus expectations. Following these results, management revised its full-year fiscal 2026 revenue guidance downward to $23 million-$26 million and projected a full-year Adjusted EBITDA loss of $1.0 million-$2.0 million. This announcement led to a substantial stock price decline of 30.73% on August 14, 2026.
2. Negative Gross Margins and Production Inefficiencies from Arps Dairy Acquisition. A core reason for the widened losses and revised guidance in fiscal Q2 2026 was the negative gross margin, which stood at a loss of $150,000, or 3.2% of revenue, compared to a 31.1% profit margin in the prior year. This was attributed to startup costs and slower-than-anticipated production efficiency at the existing facility following the Arps Dairy acquisition. Management has identified the completion of a new 44,000-square-foot facility in Defiance, Ohio, as a top operational priority to improve production economics. While a $2.4 million USDA grant for this facility received re-approval on September 8, 2026, the facility is not yet fully operational and must utilize the grant proceeds by the end of 2026.
3. Worsening Profitability Outlook and Negative Analyst Sentiment. The company's Q2 2026 performance and revised guidance indicated a continued struggle towards profitability. Analysts are projecting a further net loss of approximately $0.06 per share for fiscal Q3 2026, compared to a loss of $0.02 per share in the same period last year, with consensus EPS forecasts at -$0.07. This sustained negative outlook on earnings and profitability has contributed to ongoing investor concerns. Furthermore, Barfresh Food Group has received a "Reduce" consensus rating from analysts, based on one hold rating and one sell rating.
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Stock Movement Drivers
Fundamental Drivers
The -72.2% change in BRFH stock from 7/31/2026 to 11/7/2026 was primarily driven by a -76.3% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.66 | 0.46 | -72.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17 | 20 | 18.2% |
| P/S Multiple | 1.6 | 0.4 | -76.3% |
| Shares Outstanding (Mil) | 16 | 16 | -0.7% |
| Cumulative Contribution | -72.2% |
Market Drivers
7/31/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BRFH | -72.2% | |
| Market (SPY) | -1.6% | 31.2% |
| Sector (XLP) | 5.9% | 15.9% |
Fundamental Drivers
The -81.7% change in BRFH stock from 4/30/2026 to 11/7/2026 was primarily driven by a -86.9% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.53 | 0.46 | -81.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 20 | 40.7% |
| P/S Multiple | 2.8 | 0.4 | -86.9% |
| Shares Outstanding (Mil) | 16 | 16 | -1.2% |
| Cumulative Contribution | -81.7% |
Market Drivers
4/30/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BRFH | -81.7% | |
| Market (SPY) | 2.6% | 17.6% |
| Sector (XLP) | 7.6% | 13.6% |
Fundamental Drivers
The -86.0% change in BRFH stock from 10/31/2025 to 11/7/2026 was primarily driven by a -92.0% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.29 | 0.46 | -86.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 20 | 82.1% |
| P/S Multiple | 4.7 | 0.4 | -92.0% |
| Shares Outstanding (Mil) | 16 | 16 | -3.0% |
| Cumulative Contribution | -86.0% |
Market Drivers
10/31/2025 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BRFH | -86.0% | |
| Market (SPY) | 8.7% | 10.0% |
| Sector (XLP) | 20.5% | 9.3% |
Fundamental Drivers
The -70.9% change in BRFH stock from 10/31/2023 to 11/7/2026 was primarily driven by a -86.2% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.59 | 0.46 | -70.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8 | 20 | 161.8% |
| P/S Multiple | 2.7 | 0.4 | -86.2% |
| Shares Outstanding (Mil) | 13 | 16 | -19.3% |
| Cumulative Contribution | -70.9% |
Market Drivers
10/31/2023 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BRFH | -70.9% | |
| Market (SPY) | 81.9% | 5.9% |
| Sector (XLP) | 43.0% | 1.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BRFH Return | 0% | 217% | 22% | 85% | -0% | -84% | 13% |
| Peers Return | 10% | 14% | 35% | -6% | 20% | 8% | 105% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| BRFH Win Rate | 0% | 33% | 58% | 42% | 33% | 18% | |
| Peers Win Rate | 42% | 50% | 58% | 47% | 47% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| BRFH Max Drawdown | 0% | -87% | -48% | -54% | -49% | -87% | |
| Peers Max Drawdown | -34% | -36% | -22% | -33% | -33% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JJSF, MNST, CELH, FIZZ, COCO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | BRFH | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.1% | -7.8% |
| % Gain to Breakeven | 16.4% | 8.5% |
| Time to Breakeven | 193 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -20.6% | -33.7% |
| % Gain to Breakeven | 25.9% | 50.9% |
| Time to Breakeven | 6 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -20.0% | -0.2% |
| % Gain to Breakeven | 24.9% | 0.2% |
| Time to Breakeven | 4 days | 1 days |
In The Past
Barfresh Food's stock fell -14.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 16.4% gain to breakeven.
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| Event | BRFH | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -20.6% | -33.7% |
| % Gain to Breakeven | 25.9% | 50.9% |
| Time to Breakeven | 6 days | 140 days |
In The Past
Barfresh Food's stock fell -14.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 16.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Barfresh Food (BRFH)
Barfresh Food Group, Inc. (BRFH) is a U.S.-based company that specializes in the manufacturing and distribution of various frozen beverages. Its core business focuses on providing convenient, ready-to-drink and ready-to-blend solutions, with a product portfolio primarily consisting of smoothies, shakes, and frappes.
These popular frozen beverages are offered in diverse formats designed for ease of use and versatility to meet different operational needs. Product options include ready-to-drink bottled beverages, easy pour pouches, juice concentrates for bulk preparation, and single-serve packets.
Based in Los Angeles, California, Barfresh Food Group primarily serves the United States market. Its product range is well-suited for a broad spectrum of customers within the food service industry, such as restaurants, cafes, and institutional settings, seeking efficient and consistent beverage offerings.
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- The Jamba Juice of foodservice suppliers.
- Keurig, but for single-serve, ready-to-blend smoothies and shakes.
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- Smoothies: Ready-to-drink or ready-to-blend frozen beverages, typically made with fruit and other ingredients.
- Shakes: Ready-to-drink or ready-to-blend frozen beverages, often milk-based and flavored.
- Frappes: Ready-to-drink or ready-to-blend frozen beverages, often iced, blended, and coffee or fruit-flavored.
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Barfresh Food Group, Inc. (BRFH) primarily sells its ready-to-drink and ready-to-blend frozen beverages to other businesses (B2B) within the foodservice industry.
While Barfresh's financial filings indicate a dependence on a relatively small number of major customers, specific names of these customer companies are not publicly disclosed by the company.
However, Barfresh Food Group targets and serves various major customer categories within the foodservice sector, including:
- Education: K-12 schools, colleges, and universities, providing options for student meals and on-campus food service.
- Healthcare: Hospitals, nursing homes, and other healthcare facilities, offering convenient beverage solutions for patients and staff.
- Hospitality: Hotels, resorts, cruise lines, and other lodging and leisure establishments, enhancing their food and beverage offerings.
- Convenience Stores: Retail outlets that offer quick-service food and beverage options for consumers on the go.
- Recreation & Travel: Theme parks, sports venues, airports, and other travel and leisure destinations, catering to diverse consumer needs.
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Riccardo D. Delle Coste, CEO and Founder
Riccardo Delle Coste invented the patented technology used in Barfresh blended beverages in 2005 and subsequently founded Barfresh Food Group Inc. in 2012. He serves as CEO, President, and Chairman, leading the company's strategic direction, investor relations, and new product development through full-scale production. Before establishing Barfresh, he owned several retail juice bars and gained experience in investment banking for several years.
Lisa Roger, CFO
Lisa Roger joined Barfresh as Chief Financial Officer in January 2022. She possesses extensive experience in public manufacturing companies, having successfully managed all aspects of finance, particularly business development and tax strategy. Notably, she was involved with Fox Factory, where annual revenues grew from $200 million to over $1 billion. Prior to Barfresh, she held roles as Executive Vice President and Controller of FreshRealm and Vice President of Accounting and Tax for Fox Factory. Her background includes integrating five acquisitions, which involved tax planning, diligence, negotiation support, financing, and post-transaction operational and accounting support.
Arnold Tinter, Secretary
Keith Kandt, Sr. Director of Marketing
Craig Bennett, Director – Product Manufacturing & Development
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Here are the key risks to Barfresh Food (BRFH):
- Financial Health and Liquidity: Barfresh Food Group faces significant financial risks, evidenced by consistently negative operating and net margins and a negative Altman Z-Score, which indicates potential financial distress. The company has relied on additional financing, including convertible debt, which introduces risks of debt conversion and equity dilution. Its ongoing liquidity depends on its ability to increase sales profitably and manage operating expenses effectively.
- Operational Risks and Manufacturing Transition: The company has a history of product quality issues with contract manufacturers, leading to product withdrawals and financial losses. To mitigate this, Barfresh is transitioning to owned manufacturing through the acquisition and expansion of the Arps Dairy Facility. This strategic shift, while intended to reduce costs and improve margins, carries inherent risks related to the successful acceleration of construction, integration of new operations, and achieving anticipated efficiencies. Any delays or issues during this transition could significantly impact production capacity and financial performance.
- Regulatory Compliance and Evolving Consumer Preferences: Barfresh operates in a highly competitive and regulated food service market, particularly within the education channel. A significant risk stems from new USDA school meal nutrition standards, effective July 1, 2025, which mandate reductions in added sugars and sodium. These regulations directly impact the formulation and marketability of Barfresh’s products, requiring the company to adapt to avoid losing access to the substantial K-12 market. The broader industry trend of rapidly changing consumer preferences towards healthier options also necessitates continuous product innovation and adaptation.
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The clear emerging threat for Barfresh Food (BRFH) is the increasing emergence and adoption of automated, self-serve robotic systems that prepare fresh, customized beverages on demand.
These automated systems directly challenge Barfresh Food's core value proposition of convenient, ready-to-blend or ready-to-drink frozen beverages. They offer the ability to deliver a truly fresh, made-to-order product with extensive customization, appealing to growing consumer preferences for healthier, less processed options. For food service operators and high-traffic venues, these robotic kiosks can reduce labor costs, minimize waste, and ensure consistent quality without requiring dedicated staff or complex inventory management of various frozen ingredients, potentially eroding Barfresh's market share in convenience-driven beverage categories.
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Barfresh Food Group, Inc. (BRFH) operates in the frozen beverage market, offering ready-to-drink and ready-to-blend smoothies, shakes, and frappes. The primary market for these products is the United States, with a global presence also contributing to the overall addressable market.
Addressable Markets for Barfresh Food Group, Inc.
- U.S. Smoothies Market: The U.S. smoothies market was valued at approximately USD 5,070.2 million in 2023 and is projected to reach USD 8,180.0 million by 2030, demonstrating a compound annual growth rate (CAGR) of 7.1% from 2024 to 2030. Another estimate indicates the U.S. smoothie market size was valued at USD 7,073.1 million in 2025 and is expected to reach USD 10,014.6 million by 2034, growing at a CAGR of 3.82% from 2026 to 2034.
- U.S. Frozen Drinks Market (includes smoothies, shakes, and frappes): The frozen drinks market in the U.S. was valued at USD 6,043.44 million in 2024 and is projected to grow at a CAGR of 6.20%. This broader market encompasses the various frozen beverages offered by Barfresh Food Group.
- Global Smoothies Market: The global smoothie market size was approximately USD 14.86 billion in 2025 and is anticipated to increase to an estimated USD 36.49 billion by 2035, growing at a CAGR of 9.4% from 2026 to 2035. In 2025, the global smoothies market size was projected at USD 13,859.4 million and is expected to reach USD 22,138.9 million by 2034 with a CAGR of 5.34%.
- Global Frozen Drinks Market: The global frozen drinks market size was estimated at USD 24.88 billion in 2023 and is predicted to grow to approximately USD 39.66 billion by 2033, with a CAGR of about 4.77% between 2023 and 2033. North America is expected to hold the largest share of this market.
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Barfresh Food Group (BRFH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Expanded Manufacturing Capabilities and Vertical Integration via Arps Dairy Acquisition: The acquisition of Arps Dairy in October 2025 provides Barfresh with an owned 44,000 sq ft manufacturing facility. This integration is crucial for enhancing production security, improving operational efficiencies, and enabling the transition of more Barfresh products from co-manufacturers to in-house production. This strategic move is anticipated to yield better margins and greater control over the supply chain, significantly accelerating the combined business's top-line growth. The facility is projected to have the capacity to support over $200 million in annual revenue, indicating a long-term vision that includes potential contract manufacturing for other brands.
- Increased Penetration and Distribution within the Education Channel: Barfresh is actively expanding its footprint in the education sector. The company has reported successful growth in school locations, including adding 2,600 new school locations serving 2 million students in Q1 2024, with continued momentum into the 2025-2026 school year. This expanded distribution is a significant driver of revenue, particularly with the strategic introduction of new products tailored for this market.
- Launch and Growth of New Product Lines, such as Pop & Go™ Freeze Pops: The successful introduction of the Pop & Go™ 100% Juice Freeze Pops in Q4 2024 is a key revenue accelerator. This product line is strategically positioned to tap into the larger lunch segment of the education channel, expanding Barfresh's market opportunity beyond its traditional breakfast offerings. The relaunch of 100% juice concentrates has also contributed to revenue growth.
- Enhanced Operational Efficiencies and Supply Chain Optimization: The company is focused on improving its production consistency and resolving past manufacturing constraints. Through the Arps Dairy acquisition and investments in co-manufacturing partnerships, Barfresh aims to achieve improved manufacturing capabilities and operational efficiencies. These enhancements are expected to lead to margin improvements as the company optimizes its expanded production capacity and streamlines its supply chain.
- Expansion of Sales and Distribution Network: Barfresh is dedicated to broadening its sales reach through strategic agreements, such as partnering with a major regional sales broker in the Southeast, which added 82 salespeople to accelerate market penetration. The company has also been working towards achieving sales coverage across nearly all U.S. states. This expanded network, combined with increasing market adoption of its existing product lines, is expected to fuel future revenue growth.
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Share Issuance
- In February 2025, Barfresh secured $3 million in growth financing through a common stock offering.
- On March 5, 2026, Barfresh Food Group secured $7.278 million through unsecured senior convertible promissory notes from accredited investors. These notes are convertible into common stock at a conversion price of $2.90 per share, and interest payments can be made in cash or registered stock.
- Purchasers of the convertible notes also received four-year warrants to buy common stock at an exercise price of $3.20 per share, equal to 100% of their invested principal.
Inbound Investments
- In February 2025, Barfresh secured $3 million in growth financing via a common stock offering.
- Barfresh received approval for a $2.4 million government grant to finalize construction and install specialized equipment at its manufacturing facility.
- On March 9, 2026, Barfresh secured $7.3 million in senior convertible note financing, with proceeds designated to pay off the existing mortgage on its Defiance, Ohio manufacturing facility and accelerate its completion.
Outbound Investments
- On October 7, 2025, Barfresh completed the strategic acquisition of Arps Dairy, an Ohio-based dairy processing company, which included a new 44,000 square-foot manufacturing facility.
Capital Expenditures
- A significant focus of capital allocation has been the completion and expansion of a 44,000 square-foot, state-of-the-art manufacturing facility in Defiance, Ohio.
- The $7.3 million convertible note financing and a $2.4 million government grant, totaling $9.7 million, are primarily allocated towards this facility expansion and equipment installation.
- Once completed, the expanded facility is projected to support over $200 million in annual revenue capacity.
Peer Outperformance in Soft Drinks & Non-alcoholic Beverages
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Consumer Staples Merchandise Retail | 12 | 22.7% | 58.8% | 55.7% | WMT 167% · PSMT 128% · COST 117% |
| Tobacco | 6 | -28.4% | -8.3% | 37.2% | PM 164% · MO 147% |
| Food Retail | 6 | 6.9% | 65.0% | 34.5% | CASY 251% · SFM 103% · KR 78% |
| Soft Drinks & Non-alcoholic Beverages ← | 13 | 23.3% | -5.9% | 12.7% | COKE 402% · COCO 358% · MNST 100% |
| Food Distributors | 9 | 5.2% | 24.9% | 8.0% | CHEF 183% · USFD 177% · PFGC 121% |
| Brewers | 3 | 10.3% | -23.8% | 2.1% | BUD 48% · TAP 2% · SAM -56% |
| Personal Care Products | 4 | 21.5% | 9.0% | -13.8% | ELF 271% · PG 29% · COTY -56% |
| Household Products | 19 | 19.7% | 1.7% | -19.8% | IPAR 61% · CL 40% · CHD 31% |
| Packaged Foods & Meats | 48 | -24.0% | -32.8% | -36.2% | CALM 127% · TR 43% · SJM 24% |
| Agricultural Products & Services | 11 | -9.8% | -9.5% | -40.8% | ADM 25% · BG 22% · INGR 8% |
| Distillers & Vintners | 5 | -24.4% | -56.5% | -75.0% | STZ -30% · BF-B -53% |
| Drug Retail | 3 | -67.8% | -83.3% | -95.5% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Barfresh Food Earnings Notes | 12/16/2025 | |
| With Barfresh Food Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 41.38 |
| Mkt Cap | 3.5 |
| Rev LTM | 1,353 |
| Op Inc LTM | 185 |
| FCF LTM | 153 |
| FCF 3Y Avg | 127 |
| CFO LTM | 177 |
| CFO 3Y Avg | 181 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 23.1% |
| Rev Chg 3Y Avg | 14.5% |
| Rev Chg Q | 16.7% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Inc Chg LTM | 6.5% |
| Op Inc Chg 3Y Avg | 11.5% |
| Op Mgn LTM | 18.4% |
| Op Mgn 3Y Avg | 16.5% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 13.4% |
| CFO/Rev 3Y Avg | 15.4% |
| FCF/Rev LTM | 11.1% |
| FCF/Rev 3Y Avg | 13.9% |
Price Behavior
| Market Price | $0.46 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 08/11/2011 | |
| Distance from 52W High | -86.8% | |
| 50 Days | 200 Days | |
| DMA Price | $0.87 | $1.98 |
| DMA Trend | down | down |
| Distance from DMA | -46.9% | -76.7% |
| 3M | 1YR | |
| Volatility | 94.0% | 69.5% |
| Downside Capture | 501.70 | 121.41 |
| Upside Capture | -176.92 | -115.70 |
| Correlation (S&P 500) | 29.7% | 9.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.72 | 0.75 | 1.61 | 0.35 | 0.16 | 0.32 |
| Up Beta | 0.38 | 1.87 | 0.56 | 0.77 | 0.34 | 0.12 |
| Down Beta | -1.20 | 1.49 | 2.19 | 0.43 | 0.96 | 0.48 |
| Up Capture | -277% | -221% | -77% | -95% | -50% | 2% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 7 | 14 | 24 | 48 | 98 | 317 |
| Down Capture | 424% | 340% | 398% | 196% | 105% | 84% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 15 | 28 | 38 | 70 | 133 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRFH | |
|---|---|---|---|---|
| BRFH | -85.4% | 70.5% | -2.54 | - |
| Sector ETF (XLP) | 21.2% | 15.8% | 1.01 | 11.1% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 8.9% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | -4.2% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -9.0% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 9.7% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 5.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRFH | |
|---|---|---|---|---|
| BRFH | -38.2% | 99.6% | -0.10 | - |
| Sector ETF (XLP) | 7.5% | 14.0% | 0.31 | 1.6% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 8.4% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | -2.1% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -2.3% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 5.5% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 4.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRFH | |
|---|---|---|---|---|
| BRFH | -21.8% | 98.4% | -0.04 | - |
| Sector ETF (XLP) | 8.4% | 15.0% | 0.42 | 0.9% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 6.7% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | -2.8% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | -2.2% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 4.7% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 0.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/14/2026 | -30.7% | -35.4% | -38.5% |
| 5/14/2026 | 1.7% | -2.5% | -10.4% |
| 1/29/2026 | -3.4% | -12.5% | -16.2% |
| 11/6/2025 | 4.6% | 0.7% | 6.6% |
| 8/13/2025 | -4.7% | -16.2% | -6.9% |
| 5/1/2025 | -11.4% | -16.0% | -17.1% |
| 10/24/2024 | -16.0% | 0.8% | 16.8% |
| 8/14/2024 | -11.6% | -10.3% | -19.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 7 | 9 |
| # Negative | 11 | 14 | 12 |
| Median Positive | 1.9% | 0.0% | 6.2% |
| Median Negative | -4.7% | -10.0% | -14.5% |
| Max Positive | 5.8% | 20.2% | 58.6% |
| Max Negative | -30.7% | -35.4% | -38.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/14/2026 | -30.7% | -35.4% | -38.5% |
| 5/14/2026 | 1.7% | -2.5% | -10.4% |
| 1/29/2026 | -3.4% | -12.5% | -16.2% |
| 11/6/2025 | 4.6% | 0.7% | 6.6% |
| 8/13/2025 | -4.7% | -16.2% | -6.9% |
| 5/1/2025 | -11.4% | -16.0% | -17.1% |
| 10/24/2024 | -16.0% | 0.8% | 16.8% |
| 8/14/2024 | -11.6% | -10.3% | -19.5% |
| 5/15/2024 | -6.8% | -16.8% | 58.6% |
| 2/29/2024 | -2.8% | -4.4% | -12.4% |
| 10/26/2023 | 5.8% | -3.5% | -2.9% |
| 8/14/2023 | -1.8% | -6.1% | -12.7% |
| 4/27/2023 | 4.5% | -9.8% | -7.5% |
| 3/2/2023 | 3.1% | -13.8% | 6.2% |
| 7/28/2022 | -1.3% | -2.9% | -23.9% |
| 4/28/2022 | -0.7% | -6.6% | -22.3% |
| 3/10/2022 | 2.1% | 20.2% | 6.8% |
| 11/15/2021 | 0.0% | 0.0% | 0.0% |
| 8/11/2021 | 0.0% | 0.0% | 0.0% |
| 5/18/2021 | 0.0% | 0.0% | 0.0% |
| 11/17/2020 | 0.0% | 0.0% | 0.0% |
| SUMMARY STATS | |||
| # Positive | 10 | 7 | 9 |
| # Negative | 11 | 14 | 12 |
| Median Positive | 1.9% | 0.0% | 6.2% |
| Median Negative | -4.7% | -10.0% | -14.5% |
| Max Positive | 5.8% | 20.2% | 58.6% |
| Max Negative | -30.7% | -35.4% | -38.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 04/14/2021 | 10-K |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 06/25/2020 | 10-Q |
| 12/31/2019 | 04/13/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Recent Forward Guidance
Updated 11/2/2026Latest: Q2 2026 Earnings Reported 8/14/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Adjusted EBITDA | Reported | -0.50 Mil | -0.25 Mil | 0 | 0 | Same New | Guidance: -0.25 Mil for Q2 2026 | |
| 2026 Revenue | Reported | 23.00 Mil | 24.50 Mil | 26.00 Mil | -18.3% | Lowered | Guidance: 30.00 Mil for 2026 | |
| 2026 Revenue Growth | Reported | 62.0% | 72.5% | 83.0% | -38.5% | Lowered | Guidance: 111.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | -2.00 Mil | -1.50 Mil | -1.00 Mil | -142.9% | Lowered | Guidance: 3.50 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 5.20 Mil | 5.40 Mil | 5.60 Mil | ||||
| Q2 2026 Adjusted EBITDA | Reported | -0.30 Mil | -0.25 Mil | -0.20 Mil | ||||
| 2026 Revenue | Reported | 28.00 Mil | 30.00 Mil | 32.00 Mil | -7.7% | Lowered | Guidance: 32.50 Mil for 2026 | |
| 2026 Revenue Growth | Reported | 97.0% | 111.0% | 125.0% | ||||
| 2026 Adjusted EBITDA | Reported | 3.20 Mil | 3.50 Mil | 3.80 Mil | -17.6% | Lowered | Guidance: 4.25 Mil for 2026 | |
Q4 2025 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 30.00 Mil | 32.50 Mil | 35.00 Mil | 0 | Affirmed | Guidance: 32.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 3.50 Mil | 4.25 Mil | 5.00 Mil | ||||
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 14.50 Mil | 15.00 Mil | 15.50 Mil | 13.2% | Affirmed | Guidance: 13.25 Mil for 2025 | |
| 2025 Revenue Growth | Reported | 36.0% | 41.0% | 46.0% | ||||
| 2026 Revenue | Reported | 30.00 Mil | 32.50 Mil | 35.00 Mil | ||||
| 2026 Revenue Growth | Reported | 126.0% | ||||||
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Soft Drinks & Non-alcoholic Beverages Resources |
| Beverage Daily |
| BevNET |
| Beverage Industry |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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