Borealis Foods Inc. (BRLS)

BRLS Financials

BRLS Quarterly Income Statement (USD)

Quarterly Report	TTM	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024	03/31/2024
Gross Profit	3.511M	1.056M	1.041M	515K	900K	251K	1.273M	422K	243K
Revenue	30.080M	8.942M	7.104M	7.188M	6.846M	6.760M	7.688M	5.325M	7.895M
Cost of Goods Sold	26.568M	7.886M	6.063M	6.673M	5.946M	6.509M	6.415M	4.903M	7.653M
Gross Profit Margin	11.8%	11.8%	14.6%	7.2%	13.1%	3.7%	16.6%	7.9%	3.1%
Total Operating Expenses	14.547M	3.894M	2.965M	3.871M	3.817M	4.873M	4.894M	5.612M	7.216M
Research & Development	1.095M	0.00	488K	607K	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	14.547M	3.894M	2.965M	3.871M	3.817M	7.349M	3.588M	5.612M	7.216M
Operating Income (EBIT)	-11.036M	-2.838M	-1.925M	-3.356M	-2.917M	-4.622M	-3.621M	-5.189M	-6.973M
Operating Margin	-31.7%	-31.7%	-27.1%	-46.7%	-42.6%	-68.4%	-47.1%	-97.4%	-88.3%
Income Before Tax (EBT)	-19.045M	-6.491M	-3.781M	-4.586M	-4.188M	-5.916M	-4.831M	-6.284M	-8.432M
Interest Income	—	—	—	—	—	—	—	—	—
Interest Expense	5.986M	1.644M	1.855M	1.228M	1.259M	1.294M	1.208M	1.099M	1.459M
Other Income/Expense	-8.009M	-3.653M	-1.856M	-1.230M	-1.270M	-1.294M	-1.210M	-1.094M	-1.459M
Net Income	-18.979M	-6.410M	-3.781M	-4.600M	-4.188M	-5.766M	-4.832M	-6.298M	-8.432M
Income Tax Expense	-67K	-81K	0.00	14K	0.00	-150K	832.00	14K	0.00
Net Profit Margin	-71.7%	-71.7%	-53.2%	-64.0%	-61.2%	-85.3%	-62.9%	-118.3%	-106.8%
EBITDA	-11.217M	-4.414M	-1.472M	-2.884M	-2.448M	-4.159M	-3.173M	-4.790M	-5.979M
EBITDA Margin	-49.4%	-49.4%	-20.7%	-40.1%	-35.8%	-61.5%	-41.3%	-89.9%	-75.7%
Depreciation & Amortization	1.841M	434K	453K	474K	481K	462K	451K	416K	994K
EPS Basic	-0.89	-0.30	-0.18	-0.21	-0.20	-0.28	-0.23	-0.29	-0.49
EPS Diluted	-0.89	-0.30	-0.18	-0.21	-0.20	-0.28	-0.23	-0.29	-0.49
Shares Outstanding	21.429M	21.429M	21.407M	21.407M	21.379M	20.310M	21.379M	21.379M	17.080M
Diluted Shares Outstanding	21.429M	21.429M	21.407M	21.407M	21.379M	20.310M	21.379M	21.379M	17.080M

BRLS Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Gross Profit	3.511M	2.190M	0.00	-8.070M	-213K
Revenue	30.080M	27.669M	0.00	25.591M	13.633M
Cost of Goods Sold	26.568M	25.479M	0.00	33.660M	13.846M
Gross Profit Margin	11.7%	7.9%	—	-31.5%	-1.6%
Total Operating Expenses	14.547M	22.594M	5.131M	14.993M	9.995M
Research & Development	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	22.594M	5.131M	14.993M	9.995M
Operating Income (EBIT)	-11.036M	-20.405M	-5.131M	-23.062M	-10.208M
Operating Margin	-36.7%	-73.7%	—	-90.1%	-74.9%
Income Before Tax (EBT)	-19.045M	-25.462M	-2.941M	-26.226M	-10.102M
Interest Income	—	—	5K	4K	—
Interest Expense	5.986M	5.061M	—	—	265K
Other Income/Expense	-8.009M	-5.057M	2.190M	22.760M	107K
Net Income	-18.979M	-25.327M	-2.941M	-26.282M	-10.121M
Income Tax Expense	-67K	-135K	0.00	56K	20K
Net Profit Margin	-63.1%	-91.5%	—	-102.7%	-74.2%
EBITDA	-11.218M	-18.078M	-2.774M	565K	-7.739M
EBITDA Margin	-37.3%	-65.3%	—	2.2%	-56.8%
Depreciation & Amortization	1.841M	2.324M	168K	3.451M	2.098M
EPS Basic	-0.89	-1.25	-0.15	-1.20	-0.46
EPS Diluted	-0.89	-1.25	-0.15	-1.20	-0.46
Shares Outstanding	21.429M	20.310M	19.471M	21.863M	21.863M
Diluted Shares Outstanding	21.429M	20.310M	19.471M	21.863M	21.863M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Borealis Foods Inc.

Borealis Foods Inc. is an enterprise focused on the distribution of food products that are rich in plant-derived protein. The company's offerings feature Chef Woo, a meat alternative with a high protein content, and Ramen Express, which provides vegetarian ramen noodle selections. Established in 2020, Borealis Foods Inc. conducts its operations from its headquarters in Oakville, Canada.

Oakville, ON

147 employees

borealisfoods.ca

Consumer Defensive / Packaged Foods

Sector: Consumer Defensive
Industry: Packaged Foods
CEO: Reza Soltanzadeh

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