| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 5.63 | 92.2% |
| Total Income | 5.63 | 92.2% |
| Expenditure | 6.07 | 65.4% |
| PBT | — | |
| Net Profit | -0.66 | 13.2% |
| OPM | -7.74% | 17.45pp |
| NPM | -11.74% | 14.24pp |
| EPS | -0.04 | 20.0% |
Barfresh Reports Q1 2026 Revenue Surpassing Outlook, Rising 92% to $5.6 million
15 May 2026 · 15 May, 1:51 am
Summary
Barfresh Food Group Inc. reported a strong start to fiscal 2026, with first quarter revenue reaching a record $5.6 million, a significant 92% increase year-over-year, surpassing its own outlook. While gross margin decreased to 18% due to the integration of Arps Dairy and facility transition costs, the net loss improved to $661,000 and Adjusted EBITDA loss narrowed to $238,000. The company is advancing construction plans for its 44,000-square-foot Ohio plant, supported by a $7.5 million convertible note financing and a $2.4 million government grant, and remains on track for commissioning before year-end. Management reiterated its full year 2026 revenue guidance of $28 million to $32 million and Adjusted EBITDA guidance of $3.2 million to $3.8 million, expressing confidence in the integrated model.
Key Highlights
- 1
Barfresh Food Group Inc. reported record first quarter 2026 revenue of $5.6 million, marking a significant 92% increase year-over-year and surpassing its initial outlook.
- 2
The company's net loss for the first quarter of 2026 improved to $661,000, compared to a loss of $761,000 in the prior year period.
- 3
Adjusted EBITDA for Q1 2026 was a loss of $238,000, an improvement from a loss of $506,000 in the first quarter of 2025.
- 4
Gross margin for the first quarter of 2026 decreased to 18% from 31% in Q1 2025, primarily due to the integration of Arps Dairy and initial facility transition costs.
- 5
Barfresh secured $7.5 million in senior convertible note financing and a $2.4 million government grant, bolstering capital for its 44,000-square-foot Ohio plant, which remains on track for commissioning before year-end.
- 6
The company provided second quarter 2026 revenue guidance of $5.2 million to $5.6 million, anticipating over 200% growth compared to the prior year period.
- 7
Full year 2026 revenue guidance was reiterated at $28 million to $32 million, alongside Adjusted EBITDA guidance of $3.2 million to $3.8 million, reflecting confidence in its integrated model.
Management Comments
Riccardo Delle Coste
We are off to a strong start in fiscal 2026. First quarter revenue of $5.6 million came in above our guidance range, driven by stronger-than-anticipated contribution from Arps Dairy’s raw and processed milk business. As we advance through fiscal 2026, the operational foundation we are building continues to strengthen. Plans for construction at our 44,000-square-foot Defiance facility are progressing and we remain on track to commission before year-end. With the facility now owned free and clear following our $7.5 million convertible note financing, and the $2.4 million government grant supporting our equipment installation, we have the platform and the capital structure in place to execute and anticipate paying down a portion of those notes via remortgaging the new larger facility in 2026. We are maintaining our fiscal 2026 revenue guidance of $28 to $32 million and Adjusted EBITDA guidance of $3.2 to $3.8 million, and we remain confident that fiscal 2026 will demonstrate the full power of the integrated model we are building.
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