Borealis Foods Inc. reported first-quarter 2026 results with revenue rising to $7.37M and a narrower net loss of $(3.51)M versus a $(4.19)M loss in the year-ago quarter.
Financial Highlights
- Revenue: $7.37M for Q1 2026, up from $6.85M in Q1 2025; YoY change 8.0%.
- Net income: Net loss of $(3.51)M for Q1 2026, improved from a net loss of $(4.19)M in Q1 2025 (loss narrowed by $0.68M, 16.1% improvement YoY).
Business Highlights
- Revenue growth and outlook: Net revenue rose 8.0% year over year to $7.37M in Q1 2026, implying a roughly $29.47M annualized run-rate and management expects a ramp in the back half of 2026.
- Channel shift: Continued expansion into institutional and co-packing channels reduced reliance on retail and lowered promotional needs.
- Brand and product momentum: High-protein ramen brands — Chef Woo, Chef Ramsay, Ramen Express and Woodles — are driving product mix and institutional demand.
- Operational progress: The company added two major global food manufacturers as co-packing customers, increasing contracted volume and utilization runway.
- Cost and efficiency: Selling, general & administrative expenses fell 24% year over year to $2.90M; depreciation tied to machine-hours helped reduce manufacturing cost volatility.
Original SEC Filing:
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