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BRFH on Nasdaq

BARFRESH FOOD GROUP INC.

BARFRESH FOOD GROUP INC. is an American canned company that raised $9.3 million in 2026 (SEC Form D).1 It is headquartered in Los Angeles, California.1 Its shares trade on Nasdaq under the symbol BRFH.1

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Last updated Oct 21, 2026.

Overview

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  • TickerBRFH on Nasdaq1
  • IndustryCanned, Frozen & Preservd Fruit, Veg & Food Specialties1
  • HeadquartersLos Angeles, California1
  • Incorporated inDE2
  • Business address12100 Wilshire Boulevard,, 8Th Floor,, Los Angeles, Ca 900252
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Company’s single-serve format features portion controlled and ready-to-blend beverage ingredient packs or “beverage packs”.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

21.9%Gross margin4
-24.2%Operating margin4
-19.0%Net margin4
32.6%Revenue growth, 20254
-202.6%Return on equity4
0.35×Debt to equity4
-$1.8MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Food and Beverage brought in 81% of the revenue BARFRESH FOOD GROUP INC. broke down this way in fiscal 2025.

  1. Food and Beverage$11.5M481%up 7% from 2024
  2. Raw and Processed Milk$2.7M419%
Products and services by year
Products and services20242025
Food and Beverage$10.7M$11.5M
Raw and Processed Milk$2.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue78¢$11.1M
  • Research and development1¢$128.0K
  • Other costs19¢$2.7M
  • Income tax2¢$285.0K

Out of $14.2M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$14.2M in 2025+230% since 2019
0$5.0M$10.0M$15.0M2019: $4.3M$4.3M20192020: $2.6M$2.6M2020−40%2021: $6.7M$6.7M2021+161%2022: $9.2M$9.2M2022+37%2023: $8.1M$8.1M2023−11%2024: $10.7M$10.7M2024+32%2025: $14.2M$14.2M2025+33%
Gross profit567894$3.1M in 2025+35% since 2019
0$1.0M$2.0M$3.0M$4.0M2019: $2.3M$2.3M20192020: $764.1K$764.1K2020−67%2021: $2.5M$2.5M2021+228%2022: $1.4M$1.4M2022−43%2023: $2.9M$2.9M2023+100%2024: $3.7M$3.7M2024+27%2025: $3.1M$3.1M2025−15%
Operating income56794-$3.4M in 2025−34% since 2019
-$8.0M-$6.0M-$4.0M-$2.0M02019: -$5.2M-$5.2M20192020: -$4.2M-$4.2M2020−19%2021: -$2.1M-$2.1M2021−50%2022: -$6.2M-$6.2M2022+197%2023: -$2.8M-$2.8M2023−55%2024: -$2.8M-$2.8M2024−2%2025: -$3.4M-$3.4M2025+24%
Net income567894-$2.7M in 2025−52% since 2019
-$8.0M-$6.0M-$4.0M-$2.0M02019: -$5.6M-$5.6M20192020: -$4.2M-$4.2M2020−26%2021: -$1.3M-$1.3M2021−70%2022: -$6.1M-$6.1M2022+385%2023: -$2.8M-$2.8M2023−54%2024: -$2.8M-$2.8M2024+0%2025: -$2.7M-$2.7M2025−5%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$14.2M$10.7M
Cost of revenue$11.1M$7.0M
Gross profit$3.1M$3.7M
Selling, marketing and distribution$3.2M$3.1M
General and administrative$3.2M$3.0M
Depreciation and amortization$178.0K$259.0K
Total operating expenses$6.5M$6.4M
Loss from operations-$3.4M-$2.8M
Bargain purchase (Note 11)-$767.0K
Debt guarantee expense (Note 5)$97.0K
Interest expense$217.0K$52.0K
Net loss before benefit of income tax-$3.0M-$2.8M
Benefit of income tax$285.0K
Net loss-$2.7M-$2.8M
Weighted average shares outstanding - basic15.8M shares14.7M shares
Weighted average shares outstanding - diluted15.8M shares14.7M shares
Net loss per share - basic-$0.17-$0.19
Net loss per share - diluted-$0.17-$0.19

Compare BARFRESH FOOD GROUP INC. with another company

Corporate structure

BARFRESH FOOD GROUP INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BARFRESH FOOD GROUP INC.

  • Bleichroeder LP Filed SCHEDULE 13G/A on BARFRESH FOOD GROUP INC., latest May 14, 2026 (6 filings since Feb 14, 2022)
  • IBEX INVESTORS LLC Filed SCHEDULE 13G on BARFRESH FOOD GROUP INC., latest Apr 9, 2026 (4 filings since Aug 1, 2023)
  • Norman H. Pessin Filed SCHEDULE 13D/A on BARFRESH FOOD GROUP INC., latest Feb 10, 2025
  • BARFRESH FOOD GROUP INC. Los Angeles, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BARFRESH FOOD GROUP INC. 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

ItemLatestA year beforeChange
Property and equipment, before depreciation$11.1M4 Dec 31, 2025$2.9M4 Dec 31, 2024+279.0%
Accumulated depreciation$2.8M4 Dec 31, 2025$2.6M4 Dec 31, 2024+7.8%
Property and equipment, net$8.3M4 Dec 31, 2025$333.0K4 Dec 31, 2024+2391.6%
Operating-lease assets (leased space)$09 Dec 31, 2024$09 Dec 31, 2023

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$125.0K4 Dec 31, 2025$178.0K4 Dec 31, 2024−29.8%
Finite-lived intangibles, net$125.0K4 Dec 31, 2025$178.0K4 Dec 31, 2024−29.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.7M4 Dec 31, 2025$1.5M4 Dec 31, 2024+11.0%
Raw materials$684.0K4 Dec 31, 2025$505.0K4 Dec 31, 2024+35.4%
Finished goods$981.0K4 Dec 31, 2025$995.0K4 Dec 31, 2024−1.4%

Properties, in its own words

Our principal executive offices are located at 12100 Wilshire Boulevard, 8th Floor, Los Angeles, California, 90025. Our lease of our former executive offices at 3600 Wilshire Boulevard, Suite 1720, Los Angeles, California, 90010 expired on March 31, 2026 and was not renewed.

Arps Dairy is currently operating a dairy processing plant consisting of approximately 15,000 square feet, located at 220 N. Clinton Drive, in Defiance, Ohio (the “Existing Facility”). It is also in the process of constructing the New Facility, a 44,000-square-foot state-of-the-art manufacturing facility at 136 Fox Run Drive in Defiance, Ohio. We plan to complete construction and install processing equipment during 2026, creating a modern production hub that will serve as a cornerstone of the Company’s expanded manufacturing strategy. In addition, Arps Dairy has been given a $2.4 million government grant to be used towards the equipment installation at the New Facility. Arps Dairy will vacate the Existing Facility once the New Facility is ready for operations in late 2026.

Item 2 of the 10-K filed Apr 15, 2026.3

Leadership

Who has led BARFRESH FOOD GROUP INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Coste Riccardo Delle2014–now

President

  1. Joseph M. Cugine2016–2018

Chief financial officer

  1. Arnold Tinter2014
  2. Joseph S. Tesoriero2015–2019
  3. Lisa Roger2022–now
201520202025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, Director, PromoterRiccardo Delle Coste named Dec 21, 2023 to Mar 17, 202629
  • DirectorSteven Lang named Dec 21, 2023 to Mar 17, 202629

Former names

  • Moving Box IncAug 11, 2010 to Feb 14, 20122

Timeline

  1. Sep 1, 20268-K Executive or director change30
  2. Aug 14, 20268-K Results of operations; Regulation FD disclosure31
  3. Aug 7, 20268-K Listing notice or transfer; Executive or director change32
  4. Jun 12, 20268-K Shareholder vote33
  5. May 14, 20268-K Results of operations; Regulation FD disclosure34
  6. Apr 6, 20268-K Executive or director change35
  7. Mar 31, 20268-K Results of operations; Regulation FD disclosure36
  8. Mar 13, 20268-K Executive or director change37
  9. Mar 9, 20268-K Unregistered sale of shares; Regulation FD disclosure38
  10. Jan 29, 20268-K Results of operations; Regulation FD disclosure39
  11. Jan 23, 20268-K Executive or director change40
  12. Dec 5, 20258-K Financial statements and exhibits41
  13. Jun 30, 2014New chief executive Coste Riccardo Delle becomes CEO14

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.02) a share, on Nov 6, 2025.42

When it reported results

  1. Aug 14, 2026Reported quarterly or annual results31
  2. May 14, 2026Reported quarterly or annual results34
  3. Mar 31, 2026Reported quarterly or annual results36
  4. Jan 29, 2026Reported quarterly or annual results39
  5. Nov 6, 2025Reported quarterly or annual results43
  6. Aug 13, 2025Reported quarterly or annual results44
  7. May 1, 2025Reported quarterly or annual results45
  8. Mar 27, 2025Reported quarterly or annual results46

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

190 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 43 major events, 77 insider forms, 11 large holders, 3 private raises, 35 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Sep 18, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 17, 2026144 EDGAR
  5. Sep 14, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 10, 2026144 EDGAR
  7. Sep 1, 20268-K EDGAR
  8. Aug 14, 202610-Q EDGAR
  9. Aug 14, 20268-K EDGAR
  10. Aug 7, 20268-K EDGAR
  11. Jul 2, 20264 EDGAR
  12. Jul 2, 20264 EDGAR
  13. Jun 15, 20264 EDGAR
  14. Jun 12, 20268-K EDGAR
  15. May 14, 202610-Q EDGAR
  16. May 14, 20268-K EDGAR
  17. May 14, 2026SCHEDULE 13G/A EDGAR
  18. May 6, 2026424B5 EDGAR
  19. Apr 29, 20264 EDGAR
  20. Apr 29, 20264 EDGAR

The 190 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.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 1 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 17, 2026Roger LisaSale25,329$1.10$27.9KForm 4
Sep 10, 2026Roger LisaSale6,127$1.22$7.5KForm 4
May 19, 2025Delle Coste RiccardoChief Executive OfficerBuy6,000$2.46$14.8KForm 4
Dec 16, 2024Roger LisaSale4,522$2.64$11.9KForm 4

From Forms 4 filed with the SEC.

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.

  • Bleichroeder LPSCHEDULE 13G/A, 6 filings Feb 14, 2022 to May 14, 202647
  • IBEX INVESTORS LLCSCHEDULE 13G, 4 filings Aug 1, 2023 to Apr 9, 202648
  • Norman H. PessinSCHEDULE 13D/A, 1 filing Feb 10, 202549

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Riccardo Delle Coste,47$394.0K$607.0K50
2025Lisa Roger,60$289.0K$369.0K50
2024Chief Financial Officer$289.0K$704.0K50
2024Chief Executive Officer$394.0K$569.0K50

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 5, 2026Raised $7.3 million in a private offering of debt Form D: $8 million offered in all Form D
  2. Oct 23, 2023Raised $2 million in a private offering of securities Form D: $2.1 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ibex Investors LLC1,440,885$2.9M1.5%No change
Bleichroeder LP1,390,758$2.8M0.5%No change
Vanguard Capital Management LLC333,294$666.6K0.0%No change
Morgan Stanley287,236$574.5K0.0%−15,999
HighTower Advisors, LLC156,255$312.5K0.0%No change
Geode Capital Management, LLC89,746$179.5K0.0%−7,646
Wells Fargo & Company/mn53,784$107.6K0.0%No change
Vanguard Fiduciary Trust Co43,452$86.9K0.0%No change
State Street Corp40,636$81.3K0.0%No change
Northern Trust Corp28,675$57.4K0.0%+2,546
BlackRock, Inc.20,965$41.9K0.0%+2,204
Susquehanna International Group, Llp19,854$39.7K0.0%New
Mercer Global Advisors Inc /adv16,000$32.0K0.0%New
Citadel Advisors LLC10,903$21.8K0.0%New
Tower Research Capital LLC (TRC)3,192$6.4K0.0%+976
Financial Consulate, Inc1,353$2.7K0.0%No change
UBS Group AG168$3360.0%−32
Barclays PLC31$620.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How BARFRESH FOOD GROUP INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBARFRESH FOOD GROUP INC.1
  • CIK0001487197
  • Employer ID (EIN)27-19944063
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2030 Canned, Frozen & Preservd Fruit, Veg & Food Specialties1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address12100 Wilshire Boulevard,, 8Th Floor,, Los Angeles, CA 900251
  • Phone310-598-71101
  • Shares outstanding16,308,172 as of Aug 11, 202612
  • Public float$19.8M as of Jun 30, 20253
  • AuditorEide Bailly LLP, Denver, Colorado PCAOB ID 286; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceAug 11, 20101
  • Filings515 in all: 4 (127), 8-K (99), 10-Q (46), SC 13D/A (30), CORRESP (18), EFFECT (18), UPLOAD (18), 3 (15)1
    All 43 form types

    S-1/A (15), 10-K (14), D (12), POS AM (11), DEF 14A (9), S-1 (7), SC 13G/A (7), 424B3 (6), SC 13D (6), SC 13G (5), 10-Q/A (4), NT 10-K (4), PRE 14A (4), 144 (3), NT 10-Q (3), S-8 (3), SCHEDULE 13G/A (3), 424B5 (2), 8-K/A (2), D/A (2), DEF 14C (2), DEFA14A (2), PRE 14C (2), RW (2), S-3 (2), S-3/A (2), SCHEDULE 13D/A (2), 10-K/A (1), 10-KT (1), 3/A (1), 8-A12B (1), 8-A12G (1), CERT (1), DRS (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 15, 2026
    Latest 8-K (8-K) Sep 1, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.000001 par valueBRFHNasdaq

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks BARFRESH FOOD GROUP INC. names in Item 1A of its 10-K filed Apr 15, 2026: 39 risks under these headings, as written.3

  • Risks Related to Our Business
  • We have a history of operating losses.
  • We completed our first acquisition in the fourth quarter of 2025. Growth by acquisitions involves risks, and we may not be able to effectively integrate the business we acquired to achieve the objectives of the acquisition or implement the contract manufacturing agreement.
  • By acquiring Arps Dairy, we are now exposed to operational risk in dairy processing.
  • Our operations depend on the consistent availability and quality of raw milk.
  • Dairy processing facilities are subject to extensive regulation.
  • Our dairy processing operations are dependent on reliable performance of our equipment.
  • We require reliable and trained personnel for our dairy operations.
  • It is difficult to predict the timing and amount of our sales because our distributors and national accounts may not be required to place minimum orders with us.
  • As an increasing portion of our sales is coming from school districts, our business is becoming more seasonal, which presents certain challenges with respect to cash flow.
  • Issues with a manufacturer have resulted in significant losses, as well as other negative impacts.
  • Disruption within our supply chain, contract manufacturing or distribution channels has had and may continue to have an adverse effect on our business, financial condition and results of operations.
The other 28 risks
  • If we do not adequately manage our inventory levels, our operating results could be adversely affected.
  • We need financing to complete the New Facility and may need additional financing in the future, which may not be available when needed or may be costly and dilutive.
  • Failure to complete the New Facility within the projected budget and timeframe will likely impact negatively our projected new revenue and adjusted EBITDA estimates.
  • A worsening of economic conditions or a decrease in consumer spending may adversely impact our ability to implement our business strategy.
  • The challenges of competing with the many food services businesses may result in reductions in our revenue and operating margins.
  • Increases in costs of packaging, ingredients and contract manufacturing tolling fees may have an adverse impact on our gross margin.
  • Fluctuations in various food and supply costs, particularly fruit and dairy, could adversely affect our operating results.
  • Our business depends substantially on the continuing efforts of our senior management and other key personnel, and our business may be severely disrupted if we lose their services.
  • We may be unable to attract and retain qualified, experienced, highly skilled personnel, which could adversely affect the implementation of our business plan.
  • Product liability exposure may expose us to significant liability.
  • Litigation or legal proceedings could expose us to significant liabilities and damage our reputation.
  • Our inability to protect our intellectual property rights may force us to incur unanticipated costs.
  • Our products may infringe the intellectual property rights of third parties, and third parties may infringe our proprietary rights, either of which may result in lawsuits, distraction of management and the impairment of our business.
  • We will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to compliance initiatives and corporate governance practices.
  • Failure to maintain effective disclosure controls and procedures and internal control over financial reporting could result in material misstatements in our financial statements and a failure to meet our reporting and financial obligations, each of which could have a material adverse effect on our financial condition and the trading price of our common stock.
  • Failure to comply with the United States Foreign Corrupt Practices Act could subject us to penalties and other adverse consequences.
  • Our use of information technology and third-party service providers exposes us to cybersecurity breaches and other business disruptions.
  • Risks Related to Ownership of Our Common Stock
  • If we are unable to adequately fund our operations, we may be forced to voluntarily file for deregistration of our common stock with the SEC.
  • We may not be able to continue to comply with Nasdaq listing standards.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, our share price and trading volume could decline.
  • Because we became public by means of a “reverse merger”, we may not be able to attract the attention of major brokerage firms.
  • Future sales of our common stock in the public market could lower the price of our common stock and impair our ability to raise funds in future securities offerings.
  • Our common stock is subject to price volatility unrelated to our operations.
  • Because we do not intend to pay dividends, shareholders will benefit from an investment in our common stock only if it appreciates in value.
  • The price of our common stock may become volatile, which could lead to losses by investors and costly securities litigation.
  • Investors may experience dilution of their ownership interests because of future issuances of additional shares of our common stock.
  • Provisions in our Company charter documents and under Delaware law could make an acquisition of our company, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Our board of directors controls a significant percentage of the outstanding shares of voting stock.

Legal proceedings

As described in Note 6 of the Notes to Consolidated Financial Statements, the Company has an on-going dispute with the Manufacturer, the outcome of which cannot be predicted at this time.

From time to time, various lawsuits and legal proceedings may arise in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. We are currently the defendant in one legal proceeding for an amount less than $100,000. Our legal counsel and management believe a material unfavorable outcome to be remote.

The opening of Item 3, Legal Proceedings.3

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