Borealis Foods CEO reports Q2 gross margin of 7.9%, expects stronger H2 2024

Borealis Foods Inc.

Q2 gross margin 7.9%, third consecutive positive quarter; gross profit dollars up 24% YoY.
Chef Woo brand shipments increased over 5x from year-ago quarter as company pivots to higher-margin products.
Distribution expanding: now shipping to schools in 20 U.S. states; institutional sales ramp-up expected this fall.
Gordon Ramsay serves as brand ambassador and shareholder; new flavors to hit shelves this fall.
Company is actively working to resolve the going concern issue noted in recent SEC filings.

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