AFRI on Nasdaq
Forafric Global PLC
Forafric Global PLC is a grain mill products company, listed on Nasdaq (AFRI).1
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Last updated Oct 21, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
10.4%Gross margin2
-2.0%Operating margin2
-8.4%Net margin2
-35.6%Revenue growth, 20252
-223.7%Return on equity2
2.65×Debt to equity2
-$161.0KFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Soft Wheat brought in 85% of the revenue Forafric Global PLC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Soft Wheat | $218.8M | $215.1M | $150.1M |
| Couscous and Pasta | $31.4M | $27.0M | $17.4M |
| Durum Wheat | $48.2M | $27.4M | $6.2M |
| All other | $3.5M | $4.7M | $2.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue87¢$158.1M
- Selling, general and admin12¢$22.0M
- Income tax1¢$1.4M
Out of $176.5M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$517.0K
Out of $356.0K of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $176.5M | $274.2M | $302.0M |
| Cost of sales | $158.1M | $246.9M | $273.4M |
| Gross profit | $18.4M | $27.3M | $28.5M |
| Selling, general and administrative expenses | $22.0M | $35.1M | $27.3M |
| Total operating expenses | $22.0M | $35.1M | $27.3M |
| Operating (loss) income from continuing operations | -$3.6M | -$7.8M | $1.2M |
| Interest income | -$52.0K | -$31.0K | -$37.0K |
| Interest expense | $14.3M | $12.8M | $13.5M |
| Change in fair value of derivatives and contingent consideration | $222.0K | -$1.4M | -$25.0K |
| Foreign Exchange (gain) loss | -$1.6M | $33.0K | -$212.0K |
| Gain on sale of subsidiary | -$6.6M | ||
| Other non-operating expenses | $900.0K | $2.5M | |
| Total other expense | $7.2M | $13.9M | $13.2M |
| Loss before taxes from continuing operations | -$10.7M | -$21.7M | -$12.0M |
| Income tax expense | $1.4M | $1.7M | $589.0K |
| Loss from continuing operations | -$12.1M | -$23.3M | -$12.6M |
| (Loss) profit from discontinued operations (note 21) | -$1.6M | $33.0K | -$652.0K |
| Income tax expense (benefit) | $38.0K | $55.0K | -$695.0K |
| (Loss) income from discontinued operations | -$1.7M | -$22.0K | $43.0K |
| Net loss | -$13.8M | -$23.4M | -$12.5M |
| Net income attributable to noncontrolling interest | $1.1M | $970.0K | $168.0K |
| Net loss attributable to the Company | -$14.9M | -$24.3M | -$12.7M |
| Loss from continuing operations per ordinary shares outstanding, basic | -$0 | -$1 | -$0 |
| Loss from continuing operations per ordinary shares outstanding, diluted | -$0 | -$1 | -$0 |
| (Loss) profit from discontinued operations per ordinary shares outstanding, basic | -$0 | $0 | $0 |
| (Loss) profit from discontinued operations per ordinary shares outstanding, diluted | -$0 | $0 | $0 |
| Weighted average number of shares outstanding - basic | 26.9M shares | 26.9M shares | 26.9M shares |
| Weighted average number of shares outstanding - diluted | 26.9M shares | 26.9M shares | 26.9M shares |
| Foreign currency translation adjustments | $458.0K | -$1.1M | -$1.7M |
| Total other comprehensive income (loss) | $458.0K | -$1.1M | -$1.7M |
| Comprehensive loss | -$13.3M | -$24.4M | -$14.3M |
| less: Comprehensive income attributable to non-controlling interest | $2.1M | $578.0K | $442.0K |
| Comprehensive loss attributable to the Company | -$15.4M | -$25.0M | -$14.7M |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $14.3M | $12.2M | ||
| Accounts receivable, net | $14.0M | $18.0M | ||
| Inventories | $14.1M | $15.2M | ||
| Prepaid expenses and other current assets | $9.2M | $11.5M | ||
| Assets held for sale, current | $12.3M | $13.9M | ||
| Total current assets | $68.2M | $77.4M | ||
| Property, plant, and equipment, net | $107.7M | $101.6M | ||
| Right-of-use assets | $16.3M | $16.2M | ||
| Goodwill | $46.6M | $42.9M | $44.0M | |
| Intangible assets, net | $5.2M | $4.4M | $4.6M | |
| Other assets, noncurrent | $3.0M | $3.6M | ||
| Total assets | $246.9M | $246.1M | ||
| Lines of credit working capital | $50.0M | $52.1M | ||
| Lines of credit wheat inventories | $80.8M | $88.4M | ||
| Accounts payable | $41.2M | $35.3M | ||
| Accrued expenses | $23.7M | $22.6M | ||
| Contract liabilities | $1.9M | $2.2M | ||
| Current portion of long-term debt | $8.8M | $4.6M | ||
| Other liabilities, current | $688.0K | $440.0K | ||
| Liabilities held-for-sale, current | $481.0K | $1.6M | ||
| Total current liabilities | $207.6M | $207.3M | ||
| Long-term debt | $17.6M | $13.1M | ||
| Deferred tax liabilities, net | $10.3M | $9.6M | ||
| Other liabilities, noncurrent | $2.6M | $3.1M | ||
| Total liabilities | $240.3M | $240.8M | ||
| Ordinary shares, $0.001 par value; 100,000,000 authorized; 26,917,597 and 26,901,592 issued and outstanding, at December 31, 2025 and 2024, respectively | $27.0K | $27.0K | ||
| Additional paid-in capital | $152.0M | $143.6M | ||
| Accumulated deficit | -$154.6M | -$139.7M | ||
| Accumulated other comprehensive loss | -$6.2M | -$5.7M | ||
| Non-controlling interest | $15.3M | $7.0M | ||
| Total Stockholders equity | $6.7M | $5.3M | $29.2M | $45.0M |
| Total liabilities and Stockholders equity | $246.9M | $246.1M | ||
| Preferred shares, par value | $0.00 | $0.00 | ||
| Preferred shares, authorized | 1.0M shares | 1.0M shares | ||
| Ordinary shares, par value | $0.00 | $0.00 | ||
| Ordinary shares, authorized | 100.0M shares | 100.0M shares | ||
| Ordinary shares, issued | 26.9M shares | 26.9M shares | ||
| Ordinary shares, outstanding | 26.9M shares | 26.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $14.3M | $12.2M | ||
| Accounts receivable, net | $14.0M | $18.0M | ||
| Inventories | $14.1M | $15.2M | ||
| Prepaid expenses and other current assets | $9.2M | $11.5M | ||
| Assets held for sale, current | $12.3M | $13.9M | ||
| Total current assets | $68.2M | $77.4M | ||
| Property, plant, and equipment, net | $107.7M | $101.6M | ||
| Right-of-use assets | $16.3M | $16.2M | ||
| Goodwill | $46.6M | $42.9M | $44.0M | |
| Intangible assets, net | $5.2M | $4.4M | $4.6M | |
| Other assets, noncurrent | $3.0M | $3.6M | ||
| Total assets | $246.9M | $246.1M | ||
| Lines of credit working capital | $50.0M | $52.1M | ||
| Lines of credit wheat inventories | $80.8M | $88.4M | ||
| Accounts payable | $41.2M | $35.3M | ||
| Accrued expenses | $23.7M | $22.6M | ||
| Contract liabilities | $1.9M | $2.2M | ||
| Current portion of long-term debt | $8.8M | $4.6M | ||
| Other liabilities, current | $688.0K | $440.0K | ||
| Liabilities held-for-sale, current | $481.0K | $1.6M | ||
| Total current liabilities | $207.6M | $207.3M | ||
| Long-term debt | $17.6M | $13.1M | ||
| Deferred tax liabilities, net | $10.3M | $9.6M | ||
| Other liabilities, noncurrent | $2.6M | $3.1M | ||
| Total liabilities | $240.3M | $240.8M | ||
| Ordinary shares, $0.001 par value; 100,000,000 authorized; 26,917,597 and 26,901,592 issued and outstanding, at December 31, 2025 and 2024, respectively | $27.0K | $27.0K | ||
| Additional paid-in capital | $152.0M | $143.6M | ||
| Accumulated deficit | -$154.6M | -$139.7M | ||
| Accumulated other comprehensive loss | -$6.2M | -$5.7M | ||
| Non-controlling interest | $15.3M | $7.0M | ||
| Total Stockholders equity | $6.7M | $5.3M | $29.2M | $45.0M |
| Total liabilities and Stockholders equity | $246.9M | $246.1M | ||
| Preferred shares, par value | $0.00 | $0.00 | ||
| Preferred shares, authorized | 1.0M shares | 1.0M shares | ||
| Ordinary shares, par value | $0.00 | $0.00 | ||
| Ordinary shares, authorized | 100.0M shares | 100.0M shares | ||
| Ordinary shares, issued | 26.9M shares | 26.9M shares | ||
| Ordinary shares, outstanding | 26.9M shares | 26.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$13.8M | -$23.4M | -$12.5M |
| Less: Income (loss) from discontinued operations, net of tax | $1.7M | $22.0K | -$43.0K |
| Loss from continuing operations | -$12.1M | -$23.3M | -$12.6M |
| Depreciation of property, plant and equipment | $4.8M | $4.3M | $4.5M |
| Amortization of intangible assets | $464.0K | $352.0K | $259.0K |
| Amortization of right-of-use assets | $1.3M | $1.4M | $1.1M |
| Bad debt expense | $696.0K | $895.0K | $87.0K |
| Impairment of goodwill | $1.0M | ||
| Impairment of other assets | $5.0M | ||
| Change in fair value of derivatives and contingent consideration | $222.0K | -$1.4M | -$25.0K |
| Non-cash accretion of interest expense | $1.0K | $65.0K | $129.0K |
| Share-based compensation | $396.0K | $522.0K | $169.0K |
| Deferred income taxes | -$314.0K | -$581.0K | -$1.3M |
| Gain on sale of subsidiary | -$6.6M | ||
| Accounts receivable | $3.7M | $8.9M | -$1.8M |
| Other receivables | $2.6M | $11.5M | $26.7M |
| Prepaid expenses and other current assets | $6.4M | $8.1M | $8.1M |
| Inventories | $596.0K | $10.1M | $1.7M |
| Other assets, noncurrent | -$43.0K | $1.1M | -$1.6M |
| Accounts payable | $3.5M | -$10.9M | $8.9M |
| Lease liabilities | -$763.0K | -$695.0K | -$581.0K |
| Other payables and liabilities | -$4.9M | $7.0M | -$310.0K |
| Net cash provided by operating activities from continuing operations | $961.0K | $22.3M | $33.3M |
| Net cash (used in) provided by operating activities from discontinued operations | -$605.0K | $1.2M | $36.0K |
| Net cash provided by operating activities | $356.0K | $23.5M | $33.3M |
| Cash proceeds from sale of subsidiary, net of cash disposed | $8.3M | ||
| Acquisition of businesses and assets, net of cash acquired | -$37.0K | ||
| Purchases of property, plant, and equipment | -$517.0K | -$1.8M | -$9.5M |
| Sales of property, plant, and equipment | $7.0K | $47.0K | |
| Additions to intangible assets | -$451.0K | -$283.0K | -$319.0K |
| Net cash provided by (used in) investing activities from continuing operations | $7.3M | -$2.1M | -$9.8M |
| Net cash used in investing activities from discontinued operations | -$43.0K | -$9.0K | -$43.0K |
| Net cash provided by (used in) investing activities | $7.3M | -$2.1M | -$9.8M |
| Proceeds from exercise of warrants | $1.0K | ||
| Cash proceeds from transactions with an entity under common control | $9.9M | ||
| Loans from related parties | $568.0K | $5.6M | |
| Borrowings on working capital facilities, net | -$8.0M | $7.3M | -$1.8M |
| Borrowings on lines of credit Wheat inventories | $5.6M | $50.4M | $59.6M |
| Repayments on lines of credit Wheat inventories | -$11.6M | -$86.3M | -$77.8M |
| Borrowings on loans | $862.0K | $3.7M | |
| Repayments on loans | -$3.1M | -$8.7M | -$5.1M |
| Net cash used in financing activities from continuing operations | -$6.7M | -$30.8M | -$21.4M |
| Net cash provided by (used in) financing activities from discontinuing operations | $571.0K | -$2.4M | $213.0K |
| Net cash used in financing activities | -$6.1M | -$33.2M | -$21.2M |
| Effect of exchange rate changes on cash and cash equivalents | $565.0K | -$7.0K | -$3.1M |
| Net increase (decrease) in cash and cash equivalents | $2.1M | -$11.8M | -$806.0K |
| Extinguishment of related party loan in connection with transactions with an entity under common control | $5.7M | ||
| Debt assumed by purchaser in sale of subsidiary | $962.0K | ||
| Non-cash acquisition of non-controlling interest | $1.5M | ||
| Shares repurchased and retired | $30.0K | ||
| Interest paid | $13.2M | $13.1M | $15.8M |
| Net income taxes paid | $1.1M | $2.2M | $2.0M |
No quarter-by-quarter statement was filed.
Corporate structure
Forafric Global PLC sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Forafric Global PLC
- Paul Packer Filed SC 13G/A on Forafric Global PLC, latest Feb 14, 2024 (2 filings since Feb 14, 2023)
- Lighthouse Capital Ltd Filed SC 13D on Forafric Global PLC, latest Sep 30, 2022 (2 filings since Jun 17, 2022)
- Globis SPAC LLC Filed SC 13G on Forafric Global PLC, latest Jun 21, 2022
- Forafric Global PLC J1
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Forafric Global PLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $25.3M2 Dec 31, 2025 | $22.9M2 Dec 31, 2024 | +10.8% |
| Buildings and improvements | $59.7M2 Dec 31, 2025 | $54.0M2 Dec 31, 2024 | +10.5% |
| Machinery and equipment | $67.5M2 Dec 31, 2025 | $60.5M2 Dec 31, 2024 | +11.6% |
| Property and equipment, before depreciation | $164.9M2 Dec 31, 2025 | $149.1M2 Dec 31, 2024 | +10.6% |
| Accumulated depreciation | $57.2M2 Dec 31, 2025 | $47.4M2 Dec 31, 2024 | +20.5% |
| Property and equipment, net | $107.7M2 Dec 31, 2025 | $101.6M2 Dec 31, 2024 | +6.0% |
| Finance-lease assets | $9.7M2 Dec 31, 2025 | $9.3M2 Dec 31, 2024 | +4.9% |
| Operating-lease assets (leased space) | $6.6M2 Dec 31, 2025 | $6.9M2 Dec 31, 2024 | −4.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $14.3M2 Dec 31, 2025 | $12.2M2 Dec 31, 2024 | +17.0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $46.6M2 Dec 31, 2025 | $42.9M2 Dec 31, 2024 | +8.6% |
| Intangible assets, net (excluding goodwill) | $5.2M2 Dec 31, 2025 | $4.4M2 Dec 31, 2024 | +17.1% |
| Finite-lived intangibles, net | $4.1M2 Dec 31, 2025 | $3.5M6 Dec 31, 2024 | +18.3% |
Inventory
Leadership
Who has led Forafric Global PLC, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
2025
- Chief executive officerEddine Mustapha Jamal Jun 16, 2022 to Jun 16, 20227
- ChairSaad Bendidi Jun 15, 2022 to Jun 15, 20228
- Chief financial officerJulien David Joseph Benitah Jun 15, 2022 to Jun 15, 20229
Board members and other officers (8)
- VP Biz DevMoche Yaacov Oury Marciano Jun 15, 2022 to Jun 15, 202210
- Chief Technology OfficerMustapha Ghazzali Jun 15, 2022 to Jun 15, 202211
- Board memberIra A. Greenstein Jun 14, 2022 to Jun 15, 202212
- Board memberPaul Packer Jun 14, 2022 to Jun 14, 202213
- Board memberFranco Cassar Jun 15, 2022 to Jun 15, 202214
- Board memberJames Lasry Jun 15, 2022 to Jun 15, 202215
- Board memberJulien David Joseph Benitah Jun 15, 2022 to Jun 15, 20229
- Board memberRachel Bitan Jun 15, 2022 to Jun 15, 202216
Former names
- Globis NV Merger Corp.Jan 12, 2022 to Jun 9, 20223
Timeline
Filings
78 filings to the SEC since October 2021: 4 annual reports, 2 major events, 12 insider forms, 5 large holders, 55 other. The latest 20:
- Oct 7, 20266-K EDGAR
- Aug 5, 20266-K EDGAR
- Jul 16, 20266-K EDGAR
- May 15, 202620-F EDGAR
- Apr 30, 2026NT 20-F EDGAR
- Apr 29, 20266-K EDGAR
- Mar 9, 20266-K EDGAR
- Dec 29, 20256-K EDGAR
- Apr 30, 202520-F EDGAR
- Apr 4, 20256-K EDGAR
- Feb 11, 20256-K EDGAR
- Jan 21, 20256-K EDGAR
- Jan 16, 20256-K EDGAR
- Jan 16, 20256-K EDGAR
- Dec 4, 20246-K EDGAR
- Apr 30, 202420-F EDGAR
- Feb 14, 2024SC 13G/A EDGAR
- Dec 12, 20236-K EDGAR
- Nov 15, 20236-K EDGAR
- Jul 31, 20236-K EDGAR
The 78 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Paul PackerSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202419
- Lighthouse Capital LtdSC 13D, 2 filings Jun 17, 2022 to Sep 30, 202220
- Globis SPAC LLCSC 13G, 1 filing Jun 21, 202221
SEC filer profile
How Forafric Global PLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARForafric Global PLC1
- CIK0001903870
- Filer statusNon-accelerated filer not an emerging growth company; a shell company22
- Incorporated inGibraltar22
- Fiscal year endsDecember 311
- Industry code (SIC)2040 Grain Mill Products1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business addressUnit 5.3, Madison Building, Midtown, Queensway, Gibraltar, J1 GX111AA1
- Phone011 350 200725051
- Shares outstanding26,917,597 shares as of Dec 31, 202522
- AuditorUHY LLP, Melville, New York PCAOB ID 1195; no auditor attestation of internal control over financial reporting22
- On EDGAR sinceJan 12, 20221
- Filings78 in all: 6-K (21), 3 (12), 425 (7), CORRESP (6), 20-F (4), UPLOAD (4), EFFECT (3), S-4/A (3)1
All 22 form types
424B4 (2), 8-K (2), SC 13D (2), SC 13G/A (2), 424B3 (1), 8-A12B (1), CERT (1), F-1 (1), F-1/A (1), NT 20-F (1), POS AM (1), S-4 (1), S-8 (1), SC 13G (1)
- Latest filingsAnnual report (20-F) May 15, 2026
Latest 8-K (8-K) Jun 15, 2022
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary Shares, par value $0.001 | AFRI | Nasdaq |
| Warrants, each warrant exercisable for one ordinary share at an exercise price of $11.50 per share | AFRIW | Nasdaq |
From the cover page of the 20-F filed May 15, 2026 (Section 12(b) of the Exchange Act).22
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 3
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- 5
- 6
- 7
- 8SEC EDGARSaad Bendidi, Chair
- 9
- 10
- 11
- 12SEC EDGARIra A. Greenstein, Board member
- 13SEC EDGARPaul Packer, Board member
- 14SEC EDGARFranco Cassar, Board member
- 15SEC EDGARJames Lasry, Board member
- 16SEC EDGARRachel Bitan, Board member
- 17
- 18SEC EDGAREntered a material agreement
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- 22