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): $0.465
Market Cap: $7.6 Mil
Sector: Consumer Staples
Industry: Soft Drinks & Non-alcoholic Beverages

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 82%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80%

Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Functional Foods & Beverages, Organic & Natural Products, Show more.

Weak multi-year price returns
2Y Excs Rtn is -111%, 3Y Excs Rtn is -146%

Penny stock
Mkt Price is 0.5

Not profitable at operating income level
Op 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 significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 108%

Not cash flow generative
CFO/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 negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54%

Key risks
BRFH key risks include [1] severe financial distress, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 82%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80%
2 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Functional Foods & Beverages, Organic & Natural Products, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -111%, 3Y Excs Rtn is -146%
4 Penny stock
Mkt Price is 0.5
5 Not profitable at operating income level
Op 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%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 108%
7 Not cash flow generative
CFO/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%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54%
9 Key risks
BRFH key risks include [1] severe financial distress, Show more.

BRFH in ETFs

Weight = BRFH's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/5/2026

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.

Show more
Updated on 11/5/2026

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)731202611072026Change
Stock Price ($)1.660.46-72.2%
Change Contribution By: 
Total Revenues ($ Mil)172018.2%
P/S Multiple1.60.4-76.3%
Shares Outstanding (Mil)1616-0.7%
Cumulative Contribution-72.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/7/2026
ReturnCorrelation
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)430202611072026Change
Stock Price ($)2.530.46-81.7%
Change Contribution By: 
Total Revenues ($ Mil)142040.7%
P/S Multiple2.80.4-86.9%
Shares Outstanding (Mil)1616-1.2%
Cumulative Contribution-81.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/7/2026
ReturnCorrelation
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)1031202511072026Change
Stock Price ($)3.290.46-86.0%
Change Contribution By: 
Total Revenues ($ Mil)112082.1%
P/S Multiple4.70.4-92.0%
Shares Outstanding (Mil)1616-3.0%
Cumulative Contribution-86.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/7/2026
ReturnCorrelation
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)1031202311072026Change
Stock Price ($)1.590.46-70.9%
Change Contribution By: 
Total Revenues ($ Mil)820161.8%
P/S Multiple2.70.4-86.2%
Shares Outstanding (Mil)1316-19.3%
Cumulative Contribution-70.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/7/2026
ReturnCorrelation
BRFH-70.9% 
Market (SPY)81.9%5.9%
Sector (XLP)43.0%1.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BRFH Return0%217%22%85%-0%-84%13%
Peers Return10%14%35%-6%20%8%105%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
BRFH Win Rate0%33%58%42%33%18% 
Peers Win Rate42%50%58%47%47%56% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
BRFH Max Drawdown0%-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

EventBRFHS&P 500
2024 Yen Carry Trade Unwind
  % Loss-14.1%-7.8%
  % Gain to Breakeven16.4%8.5%
  Time to Breakeven193 days18 days
2020 COVID-19 Crash
  % Loss-20.6%-33.7%
  % Gain to Breakeven25.9%50.9%
  Time to Breakeven6 days140 days
2013 Taper Tantrum
  % Loss-20.0%-0.2%
  % Gain to Breakeven24.9%0.2%
  Time to Breakeven4 days1 days

Compare to JJSF, MNST, CELH, FIZZ, COCO

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.

EventBRFHS&P 500
2020 COVID-19 Crash
  % Loss-20.6%-33.7%
  % Gain to Breakeven25.9%50.9%
  Time to Breakeven6 days140 days

Compare to JJSF, MNST, CELH, FIZZ, COCO

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.

AI Analysis | Feedback

  • The Jamba Juice of foodservice suppliers.
  • Keurig, but for single-serve, ready-to-blend smoothies and shakes.

AI Analysis | Feedback

  • 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.

AI Analysis | Feedback

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

AI Analysis | Feedback

Here are the key risks to Barfresh Food (BRFH):

  1. 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.
  2. 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.
  3. 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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

Barfresh Food Group (BRFH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Better Bets vs. Barfresh Food (BRFH)

Peer Outperformance in Soft Drinks & Non-alcoholic Beverages

BRFH has outperformed 50% of its 12 Soft Drinks & Non-alcoholic Beverages peers over 5Y. Soft Drinks & Non-alcoholic Beverages ranks 4th of 12 industries in Consumer Staples by median 5Y return.
Share of Soft Drinks & Non-alcoholic Beverages constituents that BRFH has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
8%
of 13 industry peers · -85.5% return
3Y
17%
of 12 industry peers · -64.8% return
5Y
50%
of 12 industry peers · 12.7% return
No Soft Drinks & Non-alcoholic Beverages peer with a comparable growth profile has beaten BRFH by more than 20pp over 5Y.
Median price return by industry across the Consumer Staples sector, ranked by 5Y. Soft Drinks & Non-alcoholic Beverages is BRFH's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y 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%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BRFHJJSFMNSTCELHFIZZCOCOMedian
NameBarfresh.J&J Snac.Monster .Celsius National.Vita Coco 
Mkt Price0.4789.8145.6232.1337.1462.3541.38
Mkt Cap0.01.789.48.13.53.63.5
Rev LTM201,5259,5853,1691,1817681,353
Op Inc LTM-3952,732582218152185
FCF LTM-4921,907269162144153
FCF 3Y Avg-3891,81432116490127
CFO LTM-31672,050331187148177
CFO 3Y Avg-31682,04435919493181

Growth & Margins

BRFHJJSFMNSTCELHFIZZCOCOMedian
NameBarfresh.J&J Snac.Monster .Celsius National.Vita Coco 
Rev Chg LTM82.1%-4.7%20.2%49.1%-1.8%26.0%23.1%
Rev Chg 3Y Avg41.7%0.3%11.6%41.2%0.1%17.4%14.5%
Rev Chg Q189.7%-6.2%16.7%16.8%0.0%33.7%16.7%
QoQ Delta Rev Chg LTM18.2%-1.8%4.0%4.0%0.0%8.7%4.0%
Op Inc Chg LTM-11.2%-8.4%21.0%69.5%-8.0%98.9%6.5%
Op Inc Chg 3Y Avg10.3%3.7%12.8%50.1%2.6%54.4%11.5%
Op Mgn LTM-16.0%6.2%28.5%18.4%18.4%19.9%18.4%
Op Mgn 3Y Avg-24.0%6.8%27.9%17.2%19.0%15.9%16.5%
QoQ Delta Op Mgn LTM-1.0%-0.2%-0.7%-0.4%-1.0%0.8%-0.6%
CFO/Rev LTM-15.7%10.9%21.4%10.4%15.8%19.3%13.4%
CFO/Rev 3Y Avg-21.3%10.7%24.8%16.9%16.2%14.5%15.4%
FCF/Rev LTM-20.9%6.0%19.9%8.5%13.7%18.8%11.1%
FCF/Rev 3Y Avg-23.5%5.7%21.9%15.2%13.7%14.0%13.9%

Valuation

BRFHJJSFMNSTCELHFIZZCOCOMedian
NameBarfresh.J&J Snac.Monster .Celsius National.Vita Coco 
Mkt Cap0.01.789.48.13.53.63.5
P/S0.41.19.32.62.94.72.8
P/Op Inc-2.317.732.714.016.023.516.8
P/EBIT-2.426.432.118.516.023.521.0
P/E-2.134.141.125.619.929.727.7
P/CFO-2.410.143.624.518.624.221.4
Total Yield-48.1%6.6%2.4%3.9%13.8%3.4%3.6%
Dividend Yield0.0%3.6%0.0%0.0%8.8%0.0%0.0%
FCF Yield 3Y Avg-12.8%4.4%2.8%3.2%4.8%3.7%3.5%
D/E1.10.10.00.10.00.00.0
Net D/E1.10.1-0.0-0.0-0.0-0.0-0.0

Returns

BRFHJJSFMNSTCELHFIZZCOCOMedian
NameBarfresh.J&J Snac.Monster .Celsius National.Vita Coco 
1M Rtn-41.1%9.9%4.5%17.3%20.4%11.4%10.7%
3M Rtn-74.7%-1.3%1.0%15.7%15.6%0.2%0.6%
6M Rtn-80.7%20.3%5.7%-0.5%16.9%-12.9%2.6%
12M Rtn-85.4%14.0%30.8%-22.6%24.9%48.1%19.4%
3Y Rtn-64.6%-38.6%63.9%-46.2%-10.1%121.4%-24.3%
1M Excs Rtn-36.1%14.9%9.5%22.3%25.4%16.4%15.7%
3M Excs Rtn-68.1%5.6%4.6%22.9%24.5%4.2%5.1%
6M Excs Rtn-80.4%20.6%6.0%-0.2%17.2%-12.6%2.9%
12M Excs Rtn-93.7%0.9%25.9%-54.9%14.1%40.7%7.5%
3Y Excs Rtn-146.5%-112.7%2.7%-111.9%-79.0%48.4%-95.5%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Frozen Beverages and Food1111   
Raw and Processed Milk30   
Single Segment  897
Total1411897


Price Behavior

Price Behavior
Market Price$0.46 
Market Cap ($ Bil)0.0 
First Trading Date08/11/2011 
Distance from 52W High-86.8% 
   50 Days200 Days
DMA Price$0.87$1.98
DMA Trenddowndown
Distance from DMA-46.9%-76.7%
 3M1YR
Volatility94.0%69.5%
Downside Capture501.70121.41
Upside Capture-176.92-115.70
Correlation (S&P 500)29.7%9.8%
BRFH Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.720.751.610.350.160.32
Up Beta0.381.870.560.770.340.12
Down Beta-1.201.492.190.430.960.48
Up Capture-277%-221%-77%-95%-50%2%
Bmk +ve Days12182862130427
Stock +ve Days714244898317
Down Capture424%340%398%196%105%84%
Bmk -ve Days10253664121325
Stock -ve Days15283870133370

[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%1.0111.1%
Equity (SPY)9.5%13.6%0.408.9%
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%0.519.7%
Bitcoin (BTCUSD)-27.2%43.6%-0.615.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
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%0.311.6%
Equity (SPY)11.3%17.3%0.488.4%
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%-0.045.5%
Bitcoin (BTCUSD)4.0%51.6%0.264.1%

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%0.420.9%
Equity (SPY)15.0%18.0%0.706.7%
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%0.244.7%
Bitcoin (BTCUSD)60.0%66.3%1.000.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 930202611.6%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest1.4 days
Basic Shares Quantity16.2 Mil
Short % of Basic Shares0.3%

Earnings Returns History

Updated 11/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2026-30.7%-35.4%-38.5%
5/14/20261.7%-2.5%-10.4%
1/29/2026-3.4%-12.5%-16.2%
11/6/20254.6%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   
# Positive1079
# Negative111412
Median Positive1.9%0.0%6.2%
Median Negative-4.7%-10.0%-14.5%
Max Positive5.8%20.2%58.6%
Max Negative-30.7%-35.4%-38.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2026-30.7%-35.4%-38.5%
5/14/20261.7%-2.5%-10.4%
1/29/2026-3.4%-12.5%-16.2%
11/6/20254.6%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%
10/26/20235.8%-3.5%-2.9%
8/14/2023-1.8%-6.1%-12.7%
4/27/20234.5%-9.8%-7.5%
3/2/20233.1%-13.8%6.2%
7/28/2022-1.3%-2.9%-23.9%
4/28/2022-0.7%-6.6%-22.3%
3/10/20222.1%20.2%6.8%
11/15/20210.0%0.0%0.0%
8/11/20210.0%0.0%0.0%
5/18/20210.0%0.0%0.0%
11/17/20200.0%0.0%0.0%
SUMMARY STATS   
# Positive1079
# Negative111412
Median Positive1.9%0.0%6.2%
Median Negative-4.7%-10.0%-14.5%
Max Positive5.8%20.2%58.6%
Max Negative-30.7%-35.4%-38.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/14/202610-Q
12/31/202504/15/202610-K
09/30/202511/06/202510-Q
06/30/202508/13/202510-Q
03/31/202505/01/202510-Q
12/31/202403/27/202510-K
09/30/202410/24/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/22/202410-K
09/30/202310/26/202310-Q
06/30/202308/14/202310-Q
03/31/202304/27/202310-Q
12/31/202203/02/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/14/202610-Q
12/31/202504/15/202610-K
09/30/202511/06/202510-Q
06/30/202508/13/202510-Q
03/31/202505/01/202510-Q
12/31/202403/27/202510-K
09/30/202410/24/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/22/202410-K
09/30/202310/26/202310-Q
06/30/202308/14/202310-Q
03/31/202304/27/202310-Q
12/31/202203/02/202310-K
09/30/202211/14/202210-Q
06/30/202207/28/202210-Q
03/31/202204/28/202210-Q
12/31/202103/10/202210-K
09/30/202111/15/202110-Q
06/30/202108/11/202110-Q
03/31/202105/17/202110-Q
12/31/202004/14/202110-K
09/30/202011/16/202010-Q
06/30/202008/13/202010-Q
03/31/202006/25/202010-Q
12/31/201904/13/202010-K
09/30/201911/14/201910-Q

Recent Forward Guidance

Updated 11/2/2026

Latest: Q2 2026 Earnings Reported 8/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Adjusted EBITDAReported-0.50 Mil-0.25 Mil00 Same NewGuidance: -0.25 Mil for Q2 2026
2026 RevenueReported23.00 Mil24.50 Mil26.00 Mil-18.3% LoweredGuidance: 30.00 Mil for 2026
2026 Revenue GrowthReported62.0%72.5%83.0% -38.5%LoweredGuidance: 111.0% for 2026
2026 Adjusted EBITDAReported-2.00 Mil-1.50 Mil-1.00 Mil-142.9% LoweredGuidance: 3.50 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported5.20 Mil5.40 Mil5.60 Mil   
Q2 2026 Adjusted EBITDAReported-0.30 Mil-0.25 Mil-0.20 Mil   
2026 RevenueReported28.00 Mil30.00 Mil32.00 Mil-7.7% LoweredGuidance: 32.50 Mil for 2026
2026 Revenue GrowthReported97.0%111.0%125.0%   
2026 Adjusted EBITDAReported3.20 Mil3.50 Mil3.80 Mil-17.6% LoweredGuidance: 4.25 Mil for 2026

Q4 2025 Earnings Reported 1/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported30.00 Mil32.50 Mil35.00 Mil0 AffirmedGuidance: 32.50 Mil for 2026
2026 Adjusted EBITDAReported3.50 Mil4.25 Mil5.00 Mil   

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 RevenueReported14.50 Mil15.00 Mil15.50 Mil13.2% AffirmedGuidance: 13.25 Mil for 2025
2025 Revenue GrowthReported36.0%41.0%46.0%   
2026 RevenueReported30.00 Mil32.50 Mil35.00 Mil   
2026 Revenue GrowthReported 126.0%    

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Roger, Lisa DirectSell91820261.1025,32927,86251,055Form
2Roger, Lisa DirectSell91420261.226,1277,47587,526Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Roger, Lisa DirectSell91820261.1025,32927,86251,055Form
2Roger, Lisa DirectSell91420261.226,1277,47587,526Form
Core Cache Last Updated: 11/7/2026