Barfresh Food Group (BRFH) investor relations material

Executive summary

• Achieved record Q3 2025 revenue of $4.231 million, up 16% year-over-year, and positive adjusted EBITDA for the first time.

• Completed the strategic acquisition of Arps Dairy, enhancing owned manufacturing capabilities and supporting long-term growth.

• Integration of Arps Dairy is progressing, providing immediate supply chain and operational benefits.

• Expanded distribution and strong momentum in the education channel, especially with Pop-and-Go products.

• Manufacturing challenges from earlier in the year are expected to be resolved by year-end.

Financial highlights

• Q3 2025 revenue: $4.231 million, up 16% year-over-year, the highest in company history.

• Gross margin for Q3 2025 was 37%, up from 31% in the first half and 35% in Q3 2024.

• Net loss narrowed to $290,000 from $513,000 in Q3 2024, driven by higher revenue and margin improvement.

• Adjusted EBITDA was a gain of $153,000, a turnaround from a $124,000 loss in the prior year.

• Nine-month 2025 revenue was $8.8 million, with a net loss of $1.9 million, slightly improved from 2024.

Outlook and guidance

• Fiscal 2025 revenue guidance raised to $14.5–$15.5 million, representing 36%–46% year-over-year growth.

• Preliminary fiscal 2026 revenue guidance set at $30–$35 million, up to 126% growth over 2025 guidance.

• Arps Dairy acquisition expected to be accretive to earnings in 2026, supporting top-line growth and profitability.

• Positive adjusted EBITDA expected for fiscal year 2026 as benefits of integrated manufacturing are realized.

• Expanded production and new manufacturing relationships to increase capacity and efficiency in Q4 2025 and 2026.