---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-012894"
form_type: "8-K"
ticker: "FRPT"
cik: "0001611647"
company_name: "Freshpet, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T13:26:18.275972+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Freshpet Q1 net sales up 26.7% to $167.5M; Adjusted EBITDA turns positive at $3.0M

## Summary
- Net sales of $167.5M (+26.7% YoY) driven by velocity gains and pricing.
- Net loss of $24.8M vs $17.5M loss a year ago; Adjusted EBITDA of $3.0M vs -$0.3M.
- Adjusted Gross Profit margin 38.5% vs 38.3% YoY; SG&A as % of sales improved 280 bps.
- Issued $402.5M of 3.0% convertible senior notes due 2028; used $66.2M for capped call.
- Reaffirms FY2023 guidance: net sales ~$750M, Adjusted EBITDA at least $50M, capex ~$240M.

## SEC filing metadata
- accession: 0001437749-23-012894
- form_type: 8-K
- ticker: FRPT
- cik: 0001611647
- company_name: Freshpet, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1611647/000143774923012894/0001437749-23-012894-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1611647/000143774923012894/frpt20230403_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-012894
- JSON: https://secwatch.observer/filing/0001437749-23-012894.json
- Plain text: https://secwatch.observer/filing/0001437749-23-012894.txt

## Key facts
- Earnings Releases
  Freshpet, Inc. reported for its first quarter ended March 31, 2023 results: revenue Net sales of $167.5 million, net income Net loss of $24.8 million. Guidance reaffirmed.
  - Period: for its first quarter ended March 31, 2023
  - Revenue: Net sales of $167.5 million
  - Net income: Net loss of $24.8 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: (Nasdaq: FRPT) today reported financial results for its first quarter ended March 31, 2023 . First Quarter 2023 Financial Highlights Compared to Prior Year Period ● Net sales of $167.5 million, an increase of 26.7% ● Net loss of $24.8 million, compared with prior year net loss of $17.5 million ● Adjusted EBITDA of $3.0 million, compared to prior year of $(0.3) million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1611647/000143774923012894/0001437749-23-012894-index.htm
- Earnings Releases
  Freshpet, Inc. reported For full year 2023 results: revenue Net sales of ~$750 million. Guidance reaffirmed.
  - Period: For full year 2023
  - Revenue: Net sales of ~$750 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: For full year 2023, the Company reiterates its full year underlying guidance on Net Sales and Adjusted EBITDA. The Company expects the following results: ● Net sales of ~$750 million, an increase of ~26% from 2022. ● Adjusted EBITDA of at least $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1611647/000143774923012894/0001437749-23-012894-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.