The following is a summary of the Barfresh Food Group, Inc. (BRFH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Barfresh Food Group reported Q1 2024 revenue of $2.8 million, a 35% increase from Q1 2023, largely driven by demand for the carton product and improvements in bulk sales.

• The gross margin of 41.4% is the company's highest since early 2021.

• Net loss for Q1 2024 was reduced to $449,000, improving from the net loss of $889,000 in Q1 2023.

• Selling, marketing, and distribution expenses dropped from 32% to 25% of revenue year-over-year due to improved freight efficiencies and fixed personnel costs.

• Adjusted EBITDA for Q1 2024, at approximately $53,000, significantly improved turn around from a loss of $544,000.

Business Progress:

• The company successfully navigated pandemic-related challenges, leading to the re-launch of its 100% juice concentrates.

• Over 2,600 new school locations were added within a month, with the student body served now exceeding 2 million.

• A new manufacturing partner is being onboarded to accommodate growing demand.

• The company has widened its sales network by signing an agreement with the largest regional sales broker in the Southeast.

• Efforts are underway for further school bids and expanding distribution, along with re-engaging with existing customers and attracting new ones.

More details: Barfresh Food IR

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