Borealis Foods Inc.
For the period ended Sep 30, 2025. Filed Nov 19, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 19, 2025
BRLS$0.91-19.1%Stored close · as of Nov 6, 2026
Contents
Item 1. Unaudited Condensed Consolidated Statements of Operations
Unaudited Condensed Consolidated Statements of Operations
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Gross sales | $7,364,072 | $8,075,788 | $22,164,899 | $22,036,285 |
| Sales discounts & allowances | (260,323) | (387,889) | (1,027,210) | (1,127,673) |
| Revenue, net | 7,103,749 | 7,687,899 | 21,137,689 | 20,908,612 |
| Cost of goods sold | 5,609,977 | 5,953,089 | 17,274,802 | 17,109,095 |
| Depreciation and amortization | 453,214 | 461,540 | 1,407,642 | 1,861,351 |
| Total cost of goods sold | 6,063,191 | 6,414,629 | 18,682,444 | 18,970,446 |
| Gross profit | 1,040,558 | 1,273,270 | 2,455,245 | 1,938,166 |
| Total sales, general & administrative expenses | 2,965,415 | 4,894,318 | 10,653,223 | 17,721,575 |
| Loss from operations | (1,924,857) | (3,621,048) | (8,197,978) | (15,783,409) |
| Other (expense): | ||||
| Gain on foreign exchange rates | (936) | (2,765) | (14,203) | 3,368 |
| Interest expense, net | (1,855,028) | (1,207,524) | (4,342,367) | (3,766,542) |
| Total other expense | (1,855,964) | (1,210,289) | (4,356,570) | (3,763,174) |
| Loss before income taxes | (3,780,821) | (4,831,337) | (12,554,548) | (19,546,583) |
| Income tax expense | - | (832) | (13,987) | (14,948) |
| Net loss | $(3,780,821) | $(4,832,169) | $(12,568,535) | $(19,561,531) |
| Loss per share from net loss | ||||
| Basic | $(0.18) | $(0.23) | $(0.59) | $(0.98) |
| Diluted | $(0.18) | $(0.23) | $(0.59) | $(0.98) |
| Weighted average shares outstanding | - | |||
| Basic | 21,463,415 | 21,378,890 | 21,416,970 | 19,951,016 |
| Diluted | 21,463,415 | 21,378,890 | 21,416,970 | 19,951,016 |
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