$BRFH

BARFRESH FOOD GROUP INC.

CIK:0001487197|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 4,707,000	$ 1,625,000	$ 10,339,000	$ 4,555,000
Cost of revenue	4,857,000	1,119,000	9,456,000	3,149,000
Gross profit	(150,000)	506,000	883,000	1,406,000
Operating expenses:
Selling, marketing and distribution	561,000	634,000	1,258,000	1,458,000
General and administrative	794,000	673,000	1,549,000	1,420,000
Depreciation and amortization	12,000	67,000	29,000	134,000
Total operating expenses	1,367,000	1,374,000	2,836,000	3,012,000
Loss from operations	(1,517,000)	(868,000)	(1,953,000)	(1,606,000)
Interest expense	344,000	12,000	569,000	35,000
Net loss	$ (1,861,000)	$ (880,000)	$ (2,522,000)	$ (1,641,000)
Per share information - basic and fully diluted:
Weighted average shares outstanding - basic	16,152,000	15,664,000	16,098,000	15,664,000
Weighted average shares outstanding - diluted	16,152,000	15,664,000	16,098,000	15,664,000
Net loss per share - basic	$ (0.12)	$ (0.06)	$ (0.16)	$ (0.10)
Net loss per share - diluted	$ (0.12)	$ (0.06)	$ (0.16)	$ (0.10)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Net loss	$ (2,522,000)	$ (1,641,000)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation	255,000	297,000
Depreciation and amortization	147,000	149,000
Amortization of financing discounts	118,000	11,000
Changes in assets and liabilities
Accounts receivable	866,000	278,000
Other receivables	67,000	33,000
Inventories	(495,000)	(342,000)
Prepaid expenses and other assets	29,000	4,000
Accounts payable - trade	(1,491,000)	(300,000)
Accrued expenses	(25,000)	(64,000)
Net cash used in operating activities	(3,051,000)	(1,575,000)
Investing activities
Purchase of property and equipment	(963,000)	(94,000)
Net cash used in investing activities	(963,000)	(94,000)
Financing activities
Borrowings under line of credit	5,846,000	782,000
Repayment of line of credit	(6,821,000)	(1,402,000)
Issuance of convertible debt and warrants, net of $154,000 issuance cost	7,374,000
Repayment of mortgage note	(2,170,000)
Financing agreement payments	(161,000)	(47,000)
Issuance of common stock, net of $26,000 issuance cost		2,974,000
Shares repurchased for income tax withholding under stock compensation program	(55,000)	(161,000)
Net cash provided by financing activities	4,013,000	2,146,000
Net (decrease) increase in cash	(1,000)	477,000
Cash, beginning of period	325,000	235,000
Cash, end of period	324,000	712,000
Cash paid for interest	249,000	24,000
Non-cash financing and investing activities:
Conversion of notes payable to equity	420,000
Financed acquisition of long-term assets	160,000
Issuance of warrants to brokers in convertible debt and warrant offering	$ 4,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 324,000	$ 325,000
Trade accounts receivable, net	1,091,000	1,957,000
Other receivables	32,000	99,000
Inventory, net	2,160,000	1,665,000
Prepaid expenses and other current assets	194,000	182,000
Total current assets	3,801,000	4,228,000
Property, plant and equipment, net of depreciation	8,658,000	8,297,000
Intangible assets, net of amortization	125,000	125,000
Other non-current assets	139,000	180,000
Total assets	12,723,000	12,830,000
Current liabilities:
Line of credit	167,000	1,124,000
Accounts payable - trade	1,595,000	3,086,000
Accounts payable - construction in progress	1,818,000	2,433,000
Disputed co-manufacturer accounts payable (Note 5)	499,000	499,000
Accrued expenses	349,000	388,000
Accrued payroll and employee related expenses	187,000	173,000
Financing agreements - current	285,000	296,000
Notes payable	441,000	3,031,000
Total current liabilities	5,341,000	11,030,000
Financing agreements	480,000	470,000
Convertible notes	6,986,000
Total liabilities	12,807,000	11,500,000
Commitments and contingencies
Stockholders’ (deficit) equity:
Preferred stock, $0.000001 par value, 400,000 shares authorized, none issued or outstanding
Common stock, $0.000001 par value; 35,000,000 shares authorized; and 16,208,160 and 15,969,281 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
Additional paid in capital	68,753,000	67,645,000
Accumulated deficit	(68,837,000)	(66,315,000)
Total stockholders’ (deficit) equity	(84,000)	1,330,000
Total liabilities and stockholders’ (deficit) equity	$ 12,723,000	$ 12,830,000