Borealis Foods (BRLS) Income Statement

Borealis Foods reported revenue of $30.08M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 8.7% from $27.67M a year earlier. Borealis Foods posted a net loss of $18.98M, compared with a net loss of $25.33M a year earlier. Gross margin was 11.7% and operating margin -36.7%. In the most recent quarter, Q1 fiscal 2026 (ended Mar 31, 2026), revenue was $7.37M, down 30.9% from the same quarter a year earlier.

Borealis Foods Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Borealis Foods Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Revenue & Gross Profit
Revenue	30.08	27.67	5.13	25.59	13.63
Cost of Revenue	26.57	25.48	0.00	33.66	13.85
Gross Profit	3.51	2.19	5.13	-8.07	-0.21
Operating Expenses
Research & Development	0.20	0.20	0.00	0.00	0.00
Selling, General & Administrative	14.55	22.59	10.26	14.99	10.00
Operating Expenses	14.55	22.59	10.26	14.99	10.00
Operating Income	-11.04	-20.40	-5.13	-23.06	-10.21
Other Income/Expense
Interest Income	0.00	0.00	0.01	0.00	0.00
Interest Expense	5.99	5.06	0.00	0.00	0.26
Other Income/Expense	-2.02	0.00	-8.07	-3.16	0.37
Income
Income Before Tax	-19.05	-25.46	-13.20	-26.23	-10.10
Income Tax Expense	-0.07	-0.13	-10.26	-25.92	0.02
Net Income	-18.98	-25.33	-2.94	-0.30	-10.12
Net Income - Continuous Operations	-18.98	-25.33	-2.94	-0.30	-10.12
Net Income - Discontinued Operations	-	-	-	-	-
EBITDA	-11.22	-18.08	-2.77	0.56	-7.74
EBIT	-13.06	-20.40	-20.54	-2.89	-9.84
Depreciation & Amortization	1.84	2.32	0.17	3.45	2.10
Earnings Per Share
Basic EPS	-1.00	-1.00	-	-1.00	-
Diluted EPS	-1.00	-1.00	-	-1.00	-
Basic Shares Outstanding	21.43	20.31	19.47	21.86	20.87
Diluted Shares Outstanding	21.43	20.31	19.47	21.86	20.87

Source: Company financial statements from annual and quarterly filings. Data as of Mar 31, 2026. Data sources and methodology

Frequently Asked Questions About Borealis Foods Financial Statements

What was Borealis Foods's revenue in fiscal 2025?

Borealis Foods reported revenue of $30.08M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 8.7% from $27.67M a year earlier.

Is Borealis Foods profitable?

No. Borealis Foods reported a net loss of $18.98M in fiscal 2025. In fiscal 2024 it lost $25.33M.

What is Borealis Foods's operating margin?

Borealis Foods's operating income was −$11.04M on revenue of $30.08M in fiscal 2025, an operating margin of -36.7%, compared with -73.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition