Barfresh Begins Selling “Pop & Go” 100% Juice Freeze Pops and Confirms Record Third Quarter Revenue
07 10월 2024 - 9:30PM
Barfresh Food Group, Inc. (the “Company” or “Barfresh”) (Nasdaq:
BRFH), a provider of frozen, ready-to-blend and ready-to-drink
beverages, announced that it has commenced selling its new 100%
juice freeze pop, “Pop & Go”™, to the education channel. The
Company expects to start generating revenue from Pop & Go™ in
the fourth quarter of this year.
Pop & Go™ contains a half-cup of fruit
juice, no added sugars, no preservatives, artificial flavors or
colors, and is compliant with USDA reimbursable meal programs and
Smart Snack compliant. This new item complements the Company’s
existing school offerings, including 1:1 bulk easy pour, 5:1 juice
concentrates, and Twist & Go products.
In addition to this product launch, Barfresh
announced that preliminary figures indicate record quarterly
revenue for the third quarter of over $3.6 million. This represents
a 40% increase over the same period last year, driven by increased
production capacity and accelerated customer wins. Barfresh will
provide more detailed financial results and discuss the rollout of
Pop & Go™ during its upcoming third quarter business update
call.
Riccardo Delle Coste, the Company's CEO stated, "We are excited
to bring Pop & Go™ to market through our valued education
channel partners, marking a pivotal moment in our growth strategy.
This new product strategically targets lunch menus in schools,
which can be up to five times the volume of our current breakfast
menu offerings. The initial response from students and
administrators has been extremely positive, reinforcing our
confidence in Pop & Go’s™ potential to be a meaningful
contributor to our top line. While we’re initially focusing on
schools, we see a clear path for Pop & Go™ to expand into other
foodservice and retail channels in the future, further broadening
our market reach.
Moreover, we’re proud to announce preliminary third quarter
results indicating record quarterly revenue, achieved even before
the roll out of Pop & Go™. This performance not only showcases
the strength of our existing product lines and sales force, but
also underscores the robust foundation we’ve built for launching
new products. We are excited to capitalize on our momentum with the
launch of this new product and further accelerate our growth
trajectory.”
About Barfresh Food Group
Barfresh Food Group Inc. (Nasdaq: BRFH) is a
developer, manufacturer and distributor of ready-to-blend and
ready-to-drink beverages, including smoothies, shakes and frappes,
primarily for the education market, foodservice industry and
restaurant chains, delivered as fully prepared individual portions
or single serving and bulk formats for on-site preparation. The
Company’s single serving, on-site prepared product utilizes a
proprietary, patented system that uses portion-controlled
pre-packaged beverage ingredients, delivering a freshly made frozen
beverage that is quick, cost efficient, better for you and without
waste. For more information, please visit www.barfresh.com.
Forward Looking Statements
Except for historical information herein,
matters set forth in this press release are forward-looking,
including statements about the Company’s commercial progress,
success of its strategic relationship(s), and projections of future
financial performance. These forward-looking statements are
identified by the use of words such as “grow”, “expand”,
“anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”,
“should”, “hypothetical”, “potential”, “forecast” and “project”,
“continue,” “could,” “may,” “predict,” and “will” and variations of
such words and similar expressions are intended to identify such
forward-looking statements. All statements, other than statements
of historical fact, included in the press release that address
activities, events or developments that the Company believes or
anticipates will or may occur in the future are forward-looking
statements. These statements are based on certain assumptions made
based on experience, expected future developments and other factors
the Company believes are appropriate under the circumstances. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date they are made. The contents of this
release should be considered in conjunction with the Company’s
recent filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, including any warnings, risk
factors and cautionary statements contained therein. Furthermore,
the Company expressly disclaims any current intention to update
publicly any forward-looking statements after the distribution of
this release, whether as a result of new information, future
events, changes in assumptions or otherwise.
Investor RelationsJohn
MillsICR646-277-1254John.Mills@icrinc.com
Deirdre
ThomsonICR646-277-1283Deirdre.Thomson@icrinc.com
Barfresh Food (NASDAQ:BRFH)
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