BRFH Barfresh Food Group Inc. - Common Stock
$1.32
Price · Aug 19, 2026
Fundamentals as of Aug 14, 2026
52W Range
$1–$6
1% of range
Analyst Rating
BUY
8 analysts
Price Target
$5
+298% upside
P/E (TTM)
-7.8
ROE
-282.4%
Net Profit Margin
-19.0%
BRFH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.32
Market Cap
$21M
P/E (TTM)
-7.8
EPS (TTM)
$-0.17
Revenue (TTM)
$14M
Div Yield
—
ROE
-282.4%
Debt/Equity
0.6
52W Range
$1 – $6
BRFH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$14M
2016-12-31
→
2025-12-31
EPS
$-0.17
2022-12-31
→
2025-12-31
Free Cash Flow
$-2M
2018-12-31
→
2025-12-31
Margins
-19.0%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BRFH
Peer Median
P/E (TTM)
-7.8
30.9
P/S (TTM)
1.5
1.3
P/B
15.8
1.7
EV / EBITDA
-6.8
—
Price / FCF
-11.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BRFH
Peer Median
Gross Margin
21.9%
17.5%
Operating Margin
-24.2%
—
Net Profit Margin
-19.0%
-29.4%
ROA
-33.4%
-34.0%
ROE
-282.4%
-83.5%
ROIC
-148.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BRFH
Peer Median
Debt / Equity
0.6
86.1
Current Ratio
0.4
1.4
Quick Ratio
0.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BRFH
Peer Median
Revenue YoY
32.6%
—
Revenue CAGR 3Y
15.8%
—
Revenue CAGR 5Y
40.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BRFH
Peer Median
BRFH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 5 62.5%
- Hold 1 12.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-16
Median
$5.25
← Below all targets
$1.32
Low
$4.50
High
$6.00
Median target
$5.25
+297.7%
Mean target
$5.25
+297.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.04 | $-0.09 | 0.05% |
| Dec. 31, 2025 | $-0.04 | $-0.08 | 0.04% |
| Sept. 30, 2025 | $-0.02 | $-0.01 | -0.01% |
| June 30, 2025 | $-0.05 | $-0.06 | 0.01% |
| March 31, 2025 | $-0.05 | $-0.04 | -0.01% |
| Dec. 31, 2024 | $-0.06 | $-0.01 | -0.05% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BRFH | $47M | -17.2 | 32.6% | -19.0% | -282.4% | 21.9% |
| SOWG | $4M | -0.1 | 3653.7% | — | -312.5% | — |
| BRID | $73M | — | 3.3% | -5.8% | -11.2% | 19.3% |
| HAIN | $137M | -0.3 | -10.2% | -34.0% | -83.0% | 21.4% |
| JVA | $23M | 16.3 | 22.6% | 1.5% | 5.1% | 16.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14M | $11M | $8M | $9M | $7M | $3M | $4M | $4M | $2M | $1M | $490.9K | |
| Cost of Revenue | $11M | $7M | $5M | $8M | $4M | $2M | $2M | $2M | $1M | $772.8K | $280.6K | |
| Gross Profit | $3M | $4M | $3M | $1M | $3M | $764.1K | $2M | $2M | $889.7K | $684.7K | $210.3K | |
| R&D Expense | $128.0K | $132.0K | $115.0K | $382.0K | $245.0K | $515.1K | $538.4K | $674.2K | $575.0K | $432.1K | · | |
| SG&A Expense | $3M | $3M | $3M | $4M | $2M | $4M | $7M | $8M | $9M | $10M | $7M | |
| Operating Expenses | $7M | $6M | $6M | $8M | $5M | $5M | $8M | $8M | $10M | $11M | $7M | |
| Operating Income | $-3M | $-3M | $-3M | $-6M | $-2M | $-4M | $-5M | $-6M | $-9M | $-10M | $-7M | |
| Interest Expense | · | · | · | · | $128.0K | $479.1K | $1M | $764.8K | · | $250.8K | $424.2K | |
| Other Non-op | · | · | · | · | $830.0K | $56.6K | $-406.1K | $1M | · | · | · | |
| Pretax Income | $-3M | $-3M | · | · | · | · | · | · | · | · | · | |
| Income Tax | $-285.0K | · | · | · | · | · | · | · | · | · | · | |
| Net Income | $-3M | $-3M | $-3M | $-6M | $-1M | $-4M | $-6M | $-7M | $-9M | $-10M | $-7M | |
| EPS (Basic) | $-0.17 | $-0.19 | $-0.21 | $-0.47 | $-0.10 | · | · | · | · | · | · | |
| EPS (Diluted) | $-0.17 | $-0.19 | $-0.21 | $-0.47 | · | · | · | · | · | · | · | |
| Shares (Basic) | 15,804,000 | 14,678,000 | 13,359,000 | 12,924,000 | 12,070,000 | · | · | · | · | · | · | |
| Shares (Diluted) | 15,804,000 | 14,678,000 | 13,359,000 | 12,924,000 | · | · | · | · | · | · | · | |
| EBITDA | $-3M | · | $403.0K | $-6M | $-2M | $-4M | $-5M | $-6M | $-9M | $-10M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $325.0K | $235.0K | $2M | $3M | $6M | $2M | $1000.0K | $1M | $1M | $9M | $2M | |
| Receivables | $2M | $829.0K | $821.0K | $126.0K | $1M | $425.0K | $284.7K | $357.3K | $301.0K | $131.1K | $28.6K | |
| Inventory | $2M | $2M | $1M | $1M | $705.0K | $870.2K | $634.7K | $1M | $1M | $317.9K | $328.0K | |
| Prepaid Expense | $182.0K | $104.0K | $67.0K | $79.0K | $64.0K | $47.1K | $17.6K | $98.5K | $24.5K | $25.9K | $30.5K | |
| Current Assets | $4M | $3M | $4M | $4M | $8M | $3M | $2M | $3M | $3M | $10M | $2M | |
| PP&E (Net) | $8M | $333.0K | $409.0K | $801.0K | $2M | $2M | $2M | $3M | $2M | $1M | $688.8K | |
| PP&E (Gross) | $11M | $3M | $3M | $3M | $4M | $4M | $4M | $3M | $2M | $2M | $839.4K | |
| Accum. Depreciation | $3M | $3M | $3M | $2M | $3M | $2M | $2M | $1M | $665.7K | $396.9K | $-249.7K | |
| Intangibles | $125.0K | $178.0K | $241.0K | $306.0K | $370.0K | $430.2K | $479.5K | $537.8K | $586.9K | $619.9K | $617.3K | |
| Other Non-current Assets | $180.0K | $84.0K | $7.0K | · | · | · | · | · | · | · | · | |
| Total Assets | $13M | $3M | $5M | $6M | $10M | $6M | $5M | $6M | $5M | $12M | $4M | |
| Accounts Payable | $3M | $1M | $2M | $2M | $974.0K | $353.0K | $625.1K | $1M | $421.2K | $153.8K | $131.8K | |
| Accrued Liabilities | $388.0K | $142.0K | $85.0K | $286.0K | $228.0K | $298.5K | $250.1K | $175.3K | $439.0K | $746.4K | $236.3K | |
| Short-term Debt | $3M | · | · | · | · | · | · | · | · | · | $50.0K | |
| Current Liabilities | $11M | $3M | $2M | $3M | $1M | $2M | $2M | $2M | $1M | $904.1K | $3M | |
| Capital Leases | · | · | · | · | $14.0K | $94.2K | $159.2K | · | · | · | · | |
| Total Liabilities | $12M | $3M | $2M | $3M | $2M | $3M | $5M | $6M | $1M | $913.1K | $3M | |
| Long-term Debt | $766.0K | $223.0K | · | · | · | $1M | $1M | $4M | · | $12.8K | $60.0K | |
| Total Debt | $766.0K | · | · | · | · | · | · | · | $0 | $12.8K | · | |
| Common Stock | · | · | · | · | · | $12 | $130 | $123 | $119 | $117 | $86 | |
| Paid-in Capital | $68M | $64M | $63M | $61M | $60M | $53M | $47M | $41M | $38M | $36M | $16M | |
| Retained Earnings | $-66M | $-64M | $-61M | $-58M | $-52M | $-51M | $-47M | $-41M | $-34M | $-25M | $-15M | |
| Stockholders' Equity | $1M | $578.0K | $3M | $3M | $9M | $2M | $283.7K | $-35.0K | $4M | $11M | $1M | |
| Liabilities + Equity | $13M | $3M | $5M | $6M | $10M | $6M | $5M | $6M | $5M | $12M | $4M | |
| Shares Outstanding | 15,969,281 | 14,746,172 | 14,420,105 | 12,934,741 | 12,905,112 | 11,471,797 | 130,341,737 | 122,770,960 | 118,690,527 | 117,103,276 | 86,186,453 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $255.0K | $283.0K | $403.0K | $444.0K | $639.0K | $529.4K | $586.2K | $447.7K | $309.1K | $208.6K | $174.9K | |
| Stock-based Comp | $536.0K | $784.0K | $562.0K | $386.0K | $92.0K | $276.6K | $225.0K | $598.8K | $2M | $1M | · | |
| Deferred Tax | $-285.0K | · | · | · | · | · | $-2M | $-1M | $-863.9K | $-3M | · | |
| Amort. of Intangibles | $54.0K | $63.0K | $63.0K | $64.0K | $64.0K | $63.8K | $63.6K | $63.6K | $62.1K | $61.5K | · | |
| Other Non-cash | $522.0K | · | $-1M | $3M | $-1M | $1M | $4M | · | · | · | · | |
| Operating Cash Flow | $-2M | $-2M | $-3M | $-3M | $-2M | $-3M | $-3M | $-4M | $-7M | $-8M | · | |
| CapEx | $123.0K | $53.0K | · | $13.0K | $151.0K | $59.7K | $466.2K | $1M | $535.2K | · | · | |
| Investing Cash Flow | $-1M | $-53.0K | · | $-13.0K | $-151.0K | $-59.7K | $-471.5K | $-1M | $-564.4K | $-1M | · | |
| Net Debt Issued | · | · | · | · | · | · | · | $-250.0K | $-12.8K | $-47.2K | · | |
| Stock Issued | $3M | · | · | $5.0K | $6M | $4M | $2M | · | $35.4K | $16M | · | |
| Net Stock Activity | $3M | · | · | $5.0K | $6M | $4M | $2M | · | $35.4K | $16M | · | |
| Financing Cash Flow | $3M | $626.0K | $2M | $5.0K | $6M | $4M | $4M | $5M | $22.6K | $16M | · | |
| Net Change in Cash | $90.0K | $-2M | $-1M | $-3M | $4M | $867.9K | $49.8K | $-263.3K | $-8M | $7M | · | |
| Free Cash Flow | $-2M | · | · | $-3M | $-2M | $-3M | $-4M | $-5M | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.9% | · | 35.5% | 15.7% | 37.4% | 29.8% | 53.7% | 50.6% | 45.6% | 47.0% | · | |
| Operating Margin | -24.2% | · | · | -67.9% | -31.3% | -163.9% | -120.4% | -145.9% | -446.2% | -682.0% | · | |
| Net Margin | -19.0% | · | -34.8% | -67.9% | -18.9% | -161.7% | -129.9% | -172.9% | -446.2% | -699.2% | · | |
| Pretax Margin | -21.0% | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | -22.4% | · | 5.0% | -62.1% | -22.9% | -143.3% | -106.8% | -145.9% | -446.2% | -682.0% | · | |
| ROA | -33.4% | · | -54.8% | -84.0% | -16.3% | -75.9% | -102.8% | -130.8% | -103.3% | -131.3% | · | |
| ROE | -282.4% | · | -148.8% | -174.3% | -15.8% | -140.2% | -484.2% | 24589.3% | -118.3% | -170.1% | · | |
| ROIC | -148.1% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.4 | · | 1.8 | 1.7 | 5.1 | 1.6 | 1.1 | 1.3 | 2.4 | 10.7 | · | |
| Quick Ratio | 0.2 | · | 1.2 | 1.1 | 4.5 | 1.1 | 0.7 | 0.7 | 1.3 | 10.3 | · | |
| Debt / Equity | 0.6 | · | · | · | · | · | · | · | 0.0 | 0.0 | · | |
| LT Debt / Equity | 0.4 | · | · | · | · | · | · | · | 0.0 | 0.0 | · | |
| Interest Coverage | · | · | · | · | -16.1 | -8.8 | -4.3 | -8.1 | · | -39.6 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.8 | · | 1.6 | 1.2 | 0.9 | 0.5 | 0.8 | 0.8 | 0.2 | 0.2 | · | |
| Inventory Turnover | 7.0 | · | 4.6 | 8.8 | 5.3 | 2.4 | 2.1 | 1.5 | 1.3 | 2.4 | · | |
| Receivables Turnover | 10.2 | · | 17.2 | 13.6 | 8.1 | 7.2 | 13.4 | 12.9 | 9.2 | 18.3 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 32.6% | 31.9% | -11.3% | 36.8% | 160.9% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 15.8% | 17.0% | 46.8% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 40.8% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $14M | $11M | $8M | $9M | $7M | $3M | $4M | $4M | $2M | $1M | · | |
| Net Income TTM | $-3M | $-3M | $-3M | $-6M | $-1M | $-4M | $-6M | $-7M | $-9M | $-10M | · | |
| Market Cap | $47M | · | $23M | $17M | $85M | $834M | $593M | $1.01B | $895M | $1.26B | · | |
| Enterprise Value | $47M | · | · | · | · | · | · | · | $894M | $1.25B | · | |
| P/E | -17.2 | -15.5 | -7.6 | -2.8 | · | · | · | · | · | · | · | |
| P/S | 3.3 | · | 2.8 | 1.8 | 12.6 | 324.7 | 137.7 | 237.4 | 448.1 | 866.9 | · | |
| P/B | 35.2 | · | 9.2 | 6.7 | 10.3 | 358.7 | 2090.3 | -28689.1 | 215.0 | 115.8 | · | |
| P / Tangible Book | 38.8 | 108.4 | 10.1 | 6.4 | 10.4 | 440.2 | · | · | · | · | · | |
| P / Cash Flow | -28.1 | · | -7.8 | -6.4 | -45.4 | -260.7 | -176.9 | -243.6 | -122.0 | -157.5 | · | |
| P / FCF | -26.2 | · | · | -6.3 | -42.0 | -255.9 | -155.3 | -192.1 | · | · | · | |
| EV / EBITDA | -14.9 | · | · | · | · | · | · | · | -100.3 | -126.2 | · | |
| EV / FCF | -26.4 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 3.3 | · | · | · | · | · | · | · | 447.5 | 860.6 | · | |
| Earnings Yield | -5.8% | -6.5% | -13.2% | -36.1% | · | · | · | · | · | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5M | $6M | $5M | $4M | $2M | $3M | $3M | $4M | $1M | $3M | $2M | $3M | $2M | $2M | $1M | $2M | |
| Cost of Revenue | $5M | $5M | $5M | $3M | $1M | $2M | $2M | $2M | $955.0K | $2M | $1M | $2M | $1M | $1M | $915.0K | $3M | |
| Gross Profit | $-150.0K | $1M | $156.0K | $2M | $506.0K | $900.0K | $729.0K | $1M | $509.0K | $1M | $642.0K | $913.0K | $474.0K | $855.0K | $516.0K | $-723.0K | |
| R&D Expense | $37.0K | $24.0K | $46.0K | $33.0K | $31.0K | $19.0K | $33.0K | $52.0K | $17.0K | $30.0K | $27.0K | $32.0K | $35.0K | $21.0K | $35.0K | $220.0K | |
| SG&A Expense | $794.0K | $755.0K | $922.0K | $844.0K | $673.0K | $747.0K | $618.0K | $705.0K | $865.0K | $855.0K | $622.0K | $577.0K | $493.0K | $994.0K | $911.0K | $1M | |
| Operating Expenses | $1M | $1M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $2M | $2M | $2M | |
| Operating Income | $-2M | $-436.0K | $-2M | $-260.0K | $-868.0K | $-738.0K | $-822.0K | $-500.0K | $-1M | $-446.0K | $-696.0K | $-475.0K | · | · | · | $-3M | |
| Interest Expense | $77.0K | $23.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income | $-2M | $-661.0K | $-763.0K | $-290.0K | $-880.0K | $-761.0K | $-852.0K | $-513.0K | $-1M | $-449.0K | $-717.0K | $-476.0K | $-742.0K | $-889.0K | $-2M | $-3M | |
| EPS (Basic) | $-0.12 | $-0.04 | $-0.04 | $-0.02 | $-0.06 | $-0.05 | $-0.06 | $-0.03 | $-0.07 | $-0.03 | $-0.04 | $-0.04 | $-0.06 | $-0.07 | $-0.13 | $-0.21 | |
| EPS (Diluted) | $-0.12 | $-0.04 | $-0.04 | $-0.02 | $-0.06 | $-0.05 | $-0.06 | $-0.03 | $-0.07 | $-0.03 | $-0.04 | $-0.04 | $-0.06 | $-0.07 | $-0.14 | $-0.21 | |
| Shares (Basic) | 16,152,000 | 16,044,596 | -31,187,665 | 15,940,000 | 15,664,000 | 15,387,665 | -29,288,863 | 14,744,000 | 14,722,000 | 14,500,863 | -25,657,000 | 13,036,000 | 13,003,000 | 12,977,000 | -25,831,000 | 12,931,000 | |
| Shares (Diluted) | 16,152,000 | 16,044,596 | -31,187,665 | 15,940,000 | 15,664,000 | 15,387,665 | -29,288,863 | 14,744,000 | 14,722,000 | 14,500,863 | -25,657,000 | 13,036,000 | 13,003,000 | 12,977,000 | 4,000 | 12,931,000 | |
| EBITDA | $-2M | $-364.0K | · | $-260.0K | $-868.0K | $-664.0K | · | $-500.0K | · | $74.0K | · | · | · | · | · | $-3M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $324.0K | $2M | $325.0K | $2M | $712.0K | $2M | $235.0K | $401.0K | $383.0K | $1M | $2M | $1M | $952.0K | $2M | $3M | $3M | |
| Receivables | $1M | $2M | $2M | $2M | $551.0K | $1M | $829.0K | $2M | $671.0K | $1M | $821.0K | $1M | $362.0K | $571.0K | $126.0K | $1M | |
| Inventory | $2M | $2M | $2M | $1M | $2M | $1M | $2M | $770.0K | $2M | $1M | $1M | $748.0K | $970.0K | $1M | $1M | $602.0K | |
| Prepaid Expense | $194.0K | $237.0K | $182.0K | $155.0K | $126.0K | $189.0K | $104.0K | $226.0K | $122.0K | $230.0K | $67.0K | $167.0K | $99.0K | $169.0K | $79.0K | $137.0K | |
| Other Current Assets | $777.0K | $903.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Assets | $4M | $6M | $4M | $6M | $3M | $5M | $3M | $3M | $3M | $4M | $4M | $3M | $2M | $4M | $4M | $5M | |
| PP&E (Net) | $9M | $8M | $8M | $697.0K | $320.0K | $308.0K | $333.0K | $390.0K | $300.0K | $350.0K | $409.0K | $487.0K | $627.0K | $297.0K | $801.0K | $1M | |
| PP&E (Gross) | $12M | $11M | $11M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $3M | $4M | |
| Accum. Depreciation | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $3M | $2M | $3M | |
| Intangibles | $125.0K | $125.0K | $125.0K | $125.0K | $136.0K | $157.0K | $178.0K | $194.0K | $210.0K | $226.0K | $241.0K | $258.0K | $275.0K | $291.0K | $306.0K | $323.0K | |
| Other Non-current Assets | $139.0K | $180.0K | $180.0K | $302.0K | $58.0K | $72.0K | $84.0K | $98.0K | $92.0K | $105.0K | $7.0K | · | · | · | · | · | |
| Total Assets | $13M | $15M | $13M | $7M | $4M | $5M | $3M | $4M | $3M | $5M | $5M | $4M | $3M | $4M | $6M | $7M | |
| Accounts Payable | $2M | $2M | $3M | $2M | $900.0K | $1M | $1M | $1M | $843.0K | $1M | $2M | $2M | $775.0K | $1M | $2M | $2M | |
| Accrued Liabilities | $349.0K | $286.0K | $388.0K | $222.0K | $64.0K | $188.0K | $142.0K | $270.0K | $155.0K | $225.0K | $85.0K | $229.0K | $340.0K | $255.0K | $286.0K | $315.0K | |
| Short-term Debt | $441.0K | $441.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $5M | $6M | $11M | $5M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $3M | $2M | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | $111.0K | $126.0K | · | · | · | · | · | · | |
| Total Liabilities | $13M | $13M | $12M | $5M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $3M | $2M | |
| Long-term Debt | $765.0K | $791.0K | $766.0K | $596.0K | $176.0K | $200.0K | · | $246.0K | · | · | · | · | · | · | · | · | |
| Total Debt | $1M | $1M | · | $596.0K | $176.0K | $200.0K | · | $246.0K | · | · | · | · | · | · | · | · | |
| Paid-in Capital | $69M | $69M | $68M | $67M | $67M | $67M | $64M | $64M | $64M | $64M | $63M | $61M | $61M | $61M | $61M | $61M | |
| Retained Earnings | $-69M | $-67M | $-66M | $-66M | $-65M | $-64M | $-64M | $-63M | $-62M | $-61M | $-61M | $-60M | $-60M | $-59M | $-58M | $-57M | |
| Stockholders' Equity | $-84.0K | $2M | $1M | $2M | $2M | $3M | $578.0K | $1M | $2M | $3M | $3M | $1M | $1M | $2M | $3M | $4M | |
| Liabilities + Equity | $13M | $15M | $13M | $7M | $4M | $5M | $3M | $4M | $3M | $5M | $5M | $4M | $3M | $4M | $6M | $7M | |
| Shares Outstanding | 16,208,160 | 16,104,853 | 15,969,281 | 15,940,261 | 15,940,261 | 15,920,047 | 14,746,172 | 14,746,172 | 14,723,906 | 14,719,875 | 14,420,105 | 13,104,614 | 13,002,603 | 13,002,603 | 12,934,741 | 12,934,741 |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $75.0K | $72.0K | $70.0K | $36.0K | $75.0K | $74.0K | $66.0K | $73.0K | $70.0K | $74.0K | $78.0K | $120.0K | $119.0K | $86.0K | $100.0K | $58.0K | |
| Stock-based Comp | $154.0K | $101.0K | $75.0K | $164.0K | $139.0K | $158.0K | $27.0K | $240.0K | $151.0K | $366.0K | $48.0K | $396.0K | $36.0K | $268.0K | $175.0K | $118.0K | |
| Other Non-cash | · | $-2M | · | · | · | $23.0K | · | · | · | $-760.0K | · | · | · | · | · | · | |
| Operating Cash Flow | $-669.0K | $-2M | $507.0K | $-598.0K | $-1M | $-506.0K | $-685.0K | $5.0K | $-780.0K | $-769.0K | $-950.0K | $77.0K | $-807.0K | $-1M | $-29.0K | $-696.0K | |
| CapEx | $317.0K | $646.0K | $81.0K | $-52.0K | $66.0K | $28.0K | $-8.0K | $57.0K | · | · | · | · | · | · | $0 | $0 | |
| Investing Cash Flow | $-317.0K | $-646.0K | $-1M | $52.0K | $-66.0K | $-28.0K | $8.0K | $-57.0K | · | · | · | · | · | · | $0 | $0 | |
| Stock Issued | · | · | $0 | $0 | $0 | $3M | · | · | · | · | · | · | · | · | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | $3M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-514.0K | $5M | $-769.0K | $2M | $-25.0K | $2M | $511.0K | $70.0K | $0 | $45.0K | $2M | $0 | $0 | $-18.0K | $0 | $0 | |
| Net Change in Cash | $-2M | $1M | $-2M | $1M | $-1M | $2M | $-166.0K | $18.0K | $-784.0K | $-724.0K | $880.0K | $59.0K | $-825.0K | $-1M | $-29.0K | $-696.0K | |
| Free Cash Flow | · | $-3M | · | · | · | $-534.0K | · | · | · | · | · | · | · | · | · | · |
Profitability 6
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -3.2% | 18.3% | · | 36.7% | 31.1% | 30.7% | · | 34.6% | 34.8% | 41.4% | · | 35.1% | 31.4% | 40.9% | · | -30.0% | |
| Operating Margin | -32.2% | -7.7% | · | -6.2% | -53.4% | -25.2% | · | -13.8% | · | · | · | · | · | · | · | -112.5% | |
| Net Margin | -39.5% | -11.7% | · | -6.9% | -54.1% | -26.0% | · | -14.1% | -69.1% | -15.9% | · | -18.3% | -49.1% | -43.5% | · | -112.5% | |
| EBITDA Margin | -32.2% | -6.5% | · | -6.2% | -53.4% | -22.7% | · | -13.8% | · | 2.6% | · | · | · | · | · | -112.5% | |
| ROA | -22.6% | -6.6% | · | -5.5% | -24.8% | -15.1% | · | -13.3% | -30.0% | -10.1% | · | -9.0% | -12.5% | -13.5% | · | -30.6% | |
| ROE | -189.6% | -29.6% | · | -17.4% | -47.3% | -28.6% | · | -38.1% | -64.4% | -20.5% | · | -17.2% | -18.1% | -19.7% | · | -44.7% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 1.1 | · | 1.2 | 2.0 | 2.0 | · | 1.4 | 1.8 | 1.9 | · | 1.2 | 1.3 | 1.5 | · | 2.1 | |
| Quick Ratio | 0.3 | 0.7 | · | 1.0 | 0.8 | 1.4 | · | 0.9 | 0.7 | 1.2 | · | 0.8 | 0.7 | 0.9 | · | 1.7 | |
| Debt / Equity | -14.4 | 0.7 | · | 0.3 | 0.1 | 0.1 | · | 0.2 | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | -5.7 | 0.3 | · | 0.2 | 0.0 | 0.0 | · | 0.1 | · | · | · | · | · | · | · | · | |
| Interest Coverage | -19.7 | -19.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | · | 0.8 | 0.5 | 0.6 | · | 0.9 | 0.4 | 0.6 | · | 0.5 | 0.3 | 0.3 | · | 0.3 | |
| Inventory Turnover | 2.4 | 3.1 | · | 2.9 | 0.7 | 1.7 | · | 3.1 | 0.8 | 1.4 | · | 2.5 | 0.8 | 1.3 | · | 3.5 | |
| Receivables Turnover | 5.7 | 3.0 | · | 2.0 | 2.7 | 2.0 | · | 2.6 | 2.8 | 2.9 | · | 2.3 | 1.9 | 1.8 | · | 2.1 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $16M | $14M | · | $12M | $10M | $11M | · | $11M | $8M | $9M | · | $9M | $9M | $10M | · | $10M | |
| Net Income TTM | $-4M | $-3M | · | $-2M | $-3M | $-3M | · | $-2M | $-3M | $-3M | · | $-5M | $-5M | $-5M | · | $-5M | |
| Market Cap | $32M | $45M | · | $55M | $55M | $49M | · | $43M | $54M | $18M | · | $25M | $20M | $18M | · | $38M | |
| Enterprise Value | $33M | $45M | · | $54M | $54M | $47M | · | $43M | · | · | · | · | · | · | · | · | |
| P/E | -8.3 | -16.5 | · | -21.8 | -16.3 | -16.9 | · | -17.1 | -18.3 | -6.0 | · | -5.0 | -3.8 | · | · | · | |
| P/S | 2.0 | 3.1 | · | 4.5 | 5.6 | 4.5 | · | 4.1 | 6.4 | 2.0 | · | 2.9 | 2.2 | 1.8 | · | 3.9 | |
| P/B | -385.9 | 27.0 | · | 28.9 | 26.6 | 17.4 | · | 30.6 | 32.2 | 7.0 | · | 19.4 | 13.3 | 9.7 | · | 8.9 | |
| P / Tangible Book | · | 29.1 | · | 30.9 | 28.5 | 18.4 | · | 35.5 | 36.8 | 7.6 | · | 24.2 | 16.4 | 11.5 | · | 9.6 | |
| P / Cash Flow | · | -19.0 | · | · | · | -96.0 | · | · | · | -23.0 | · | · | · | -14.4 | · | · | |
| P / FCF | · | -14.9 | · | · | · | -90.9 | · | · | · | · | · | · | · | · | · | · | |
| EV / EBITDA | -22.0 | -122.7 | · | -208.4 | -62.2 | -70.6 | · | -85.5 | · | · | · | · | · | · | · | · | |
| EV / FCF | · | -14.7 | · | · | · | -87.8 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 2.1 | 3.1 | · | 4.4 | 5.6 | 4.3 | · | 4.1 | · | · | · | · | · | · | · | · | |
| Earnings Yield | -12.0% | -6.0% | · | -4.6% | -6.1% | -5.9% | · | -5.8% | -5.5% | -16.7% | · | -19.9% | -26.7% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $14M | $11M | $8M | $9M | $7M |
| Gross Margin % | 21.9% | — | 35.5% | 15.7% | 37.4% |
| Operating Margin % | -24.2% | — | — | -67.9% | -31.3% |
| Net Income | $-3M | $-3M | $-3M | $-6M | $-1M |
| Diluted EPS | $-0.17 | $-0.19 | $-0.21 | $-0.47 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | — | — | — | — |
| Current Ratio | 0.4 | — | 1.8 | 1.7 | 5.1 |
| Quick Ratio | 0.2 | — | 1.2 | 1.1 | 4.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-2M | — | — | $-3M | $-2M |
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Institutional owners (13F) 19 filers · $7.9M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 6 (+6 vs prior Q) | 1 (-1 vs prior Q) | 2 (-1 vs prior Q) | 3 (+2 vs prior Q) | +388K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Ibex Investors LLC | $2,881,770 | 1,440,885 | 36.31% | Shares |
| Bleichroeder LP | $2,781,516 | 1,390,758 | 35.04% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $666,588 | 333,294 | 8.40% | Shares |
| MORGAN STANLEY | $574,470 | 287,235 | 7.24% | Shares |
| HighTower Advisors, LLC | $312,510 | 156,255 | 3.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $154,286 | 77,126 | 1.94% | Shares |
| VANGUARD GROUP INC | $127,314 | 43,452 | 1.60% | Shares |
| WELLS FARGO & COMPANY/MN | $107,568 | 53,784 | 1.36% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $86,904 | 43,452 | 1.09% | Shares |
| STATE STREET CORP | $81,272 | 40,636 | 1.02% | Shares |
| NORTHERN TRUST CORP | $57,350 | 28,675 | 0.72% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $39,708 | 19,854 | 0.50% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $32,000 | 16,000 | 0.40% | Shares |
| CITADEL ADVISORS LLC | $21,806 | 10,903 | 0.27% | Shares |
| Tower Research Capital LLC (TRC) | $6,384 | 3,192 | 0.08% | Shares |
| FINANCIAL CONSULATE, INC | $2,706 | 1,353 | 0.03% | Shares |
| BlackRock, Inc. | $2,470 | 1,235 | 0.03% | Shares |
| UBS Group AG | $336 | 168 | 0.00% | Shares |
| BARCLAYS PLC | $62 | 31 | 0.00% | Shares |
Company insiders 4 insiders · 2 officers · 2 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Coste Riccardo Delle | Chief Executive Officer | July 1, 2026 J | 119,861 | 0 | 0 | $0 |
| Lisa Roger | Chief Financial Officer | June 13, 2026 F | 124,536 | 0 | 0 | $0 |
| Joseph M. Cugine | Director | July 1, 2026 J | 257,146 | 0 | 0 | $0 |
| Arnold Tinter | — | Feb. 14, 2014 A | 800,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 15 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Ibex Investors LLC, Justin B. Borus, Ibex Microcap Fund LLLP, Ibex Investment Holdings LLC ×8 filings | March 12, 2026 | 9.00% | Amendment | — | SEC |
| PESSIN NORMAN H, Sandra F. Pessin | Feb. 10, 2025 | 4.60% | Amendment | Passive investment | SEC |
| Sidra Pty Ltd., Hodumo Pty Ltd., Steven Lang | July 6, 2021 | — | Initial filing | — | SEC |
| Norman H. Pessin, Sandra F. Pessin, Brian L. Pessin ×4 filings | June 3, 2021 | — | Initial filing | Passive investment | SEC |
| April 30, 2020 | — | Initial filing | — | SEC | |
| WOLVERINE ASSET MANAGEMENT, LLC, WOLVERINE HOLDINGS, L.P., WOLVERINE TRADING PARTNERS, INC., CHRISTOPHER L. GUST, ROBERT R. BELLICK ×7 filings | April 3, 2019 | — | Initial filing | — | SEC |
| Unibel ×2 filings | March 1, 2018 | — | Initial filing | Passive investment | SEC |
| Lazarus Management Company LLC, Justin B. Borus, Lazarus Investment Partners LLLP, Lazarus Macro Micro Partners LLLP ×7 filings | Dec. 2, 2016 | — | Initial filing | — | SEC |
| Lazarus Investment Partners LLLP, Lazarus Management Company LLC, Justin B. Borus | March 17, 2015 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 22, 2015 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 24, 2014 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 17, 2014 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 21, 2014 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 24, 2013 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 25, 2013 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 3 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.