Filing Flows › Borealis Foods (BRLS) › Q3 2024
Borealis Foods (BRLS) Q3 2024 earnings results (third quarter 2024)
10-Q filed Nov 14, 2024
Borealis Foods (BRLS) reported revenue of $7.7M for the third quarter 2024 (Q3 2024), -0.5% from a year earlier and +44% from the quarter before. Operating margin was -47.1%, net loss $4.8M (62.9% of revenue).
Borealis Foods, Q3 2024: revenue $7.7M (-0.5% year over year), operating margin -47.1%, net loss $4.8M, operating cash flow −$3.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.7M | +44% | -0.5% |
| Operating profit | −$3.6M | — | — |
| Net earnings | −$4.8M | — | — |
| Operating cash flow | −$3.3M | — | — |
What changed
Revenue was $7.7M in Q3 2024, roughly flat year over year and up 44% from the previous quarter.
Gross margin was 16.6%. Operating costs exceeded revenue by $3.6M, an operating margin of -47.1%. The quarter ended with a net loss of $4.8M, narrower than the previous quarter's $6.3M loss.
Operating cash flow was −$3.3M. Non-cash charges added back $462K of depreciation and amortization. Working capital and other items added $1.1M. Capital expenditures of $454K exceeded it, leaving free cash flow of −$3.7M.
Questions
What was Borealis Foods' revenue in the third quarter 2024?
Borealis Foods (BRLS) reported revenue of $7.7M for the third quarter 2024 (Q3 2024), -0.5% from a year earlier and +44% from the quarter before.
Was Borealis Foods profitable in the third quarter 2024?
Operating loss was $3.6M (-47.1% of revenue) and net loss $4.8M.
Source: Borealis Foods 10-Q on SEC EDGAR.