Barfresh Food Group reports first-quarter revenue exceeding guidance, driven by stronger milk processing contributions and customer recovery.
Barfresh Food Group (BRFH) posted a 92% year-over-year revenue increase to $5.6 million in the first quarter, surpassing its $5.0-$5.2 million guidance range. The growth was fueled by stronger-than-expected contributions from Arps Dairy’s milk processing operations, expanding the company’s revenue base.
Gross margin contracted to 18% from 31% in the prior-year period, reflecting a shift toward lower-margin milk products and facility startup costs. Despite the margin pressure, the company maintained operational discipline, positioning itself for a stronger second-half performance.
Management reaffirmed full-year guidance of $28-$32 million in revenue and $3.2-$3.8 million in adjusted EBITDA, citing momentum in education-sector recovery and active bid activity. The company’s market cap stands at approximately $39 million, trading at 1.32x estimated 2026 sales.