earnings
confidence high
sentiment negative
materiality 0.70
Barfresh Q3 revenue up 25% to $2.4M; net loss widens to $2.7M; files lawsuit against manufacturer
BARFRESH FOOD GROUP INC.
2023-Q3 EPS reported
-$0.33
revenue$7,731,000
- Revenue $2.4M (+25% YoY); net loss $2.7M vs $0.5M loss a year ago.
- Gross margin negative 30% due to $1.2M product withdrawal impact from defective Twist & Go bottles.
- Company filed lawsuit Nov 10 against Schreiber Foods for breach of supply agreement over quality issues.
- Launched Twist & Go carton format in October; expects margin improvement.
- Cash $3.0M; believes no need to raise cash despite near-term cash flow pressure.