Barfresh Q3 revenue jumps 173% to $1.9M; net loss narrows; Q4 trending 300% above prior year

BARFRESH FOOD GROUP INC.

Revenue Q3 2021 $1.9M, up 173% YoY and 48% sequentially; net loss improved to $507K from $878K YoY.
Adjusted EBITDA loss improved to $225K from $603K YoY; expects to be at/close to breakeven in Q4 2021.
Fourth quarter to date revenue ~$1.8M, a 300% increase vs full Q4 2020; entered school year in double the locations.
Gross margin 37% (down from 39%) due to raw material and packaging cost inflation; expects high-30% in Q4.
Cash $6.4M; all convertible debt eliminated; expects second PPP loan ($0.57M) forgiven in Q4, becoming debt-free.

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