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MARKETS / NASDAQ / BRLS
NASDAQ · FOOD AND KINDRED PRODUCTS

Borealis Foods Inc. BRLS

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$30.1M
▲ 8.7% YoY
$-19.0M
In brief

What this company does

Lovingly made in the U.S., Chef Woo, Chef Ramsay, Ramen Express and Woodles-branded ramen noodles are produced and packaged by the Company’s wholly-owned technologically advanced manufacturing company, Palmetto Gourmet Foods, or “PGF”. With a widespread presence, Borealis Foods’ products are currently available in approximately 30,000 points of distribution primarily in the U.S., Canada, Mexico, and Latin America. We developed and launched the first plant-based instant ramen meals providing 20 grams of complete protein per serving. Our patent-pending technology can be deployed in other applications to make additional high-protein ready-made meals and snacks.

Written from the business description in Borealis Foods Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 2 June 2026. Every sentence was checked against that document before publication.

Growth
USD 30.1M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 30.1 · Net income -19.0
20M-10M-20M2022202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−63 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -36.7% · Net -63.1%
-50%2022202320242025
ROE

Not applicable: equity was negative in this period, so return on equity has no meaning.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -16.7
-8M-16M2022202320242025
Net buybacks $M Dividends $M
FY2023 · Dividends — · Net buybacks 159.5
80M2023

Total assetsUSD 52.6M
EquityUSD -19.2M
CashUSD 64,000.00
Current ratio0.12×

Equity funds -37% of total assets.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.00.00.0·
Operating income $B−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.0·
Income tax $B−0.0−0.0−0.0·
Net income $B−0.0−0.0−0.0−0.0
Free cash flow $B·−0.0−0.0·
EPS, diluted $−0.89−1.25−2.56·
Dividend / sh $····
Payout %····
ROE %···−10.2
Shares out B·0.02··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 21 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 74 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFood and Kindred Products
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2021

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