Borealis Foods Inc. (BRLS) Financial Statements
Industry: Food and Kindred Products
In fiscal 2025, Borealis Foods reported revenue of $31.5M, up 13.8% from $27.7M the year before. Net income was -$19.0M (a -60.3% net margin), or -$0.89 per diluted share. Gross margin was 11.2% and operating margin was -35.1%. Operating activities generated -$6.6M of cash. At fiscal year end, Borealis Foods held $52.6M in total assets against $71.8M in total liabilities, including $64,000 of cash and equivalents.
Open the full interactive Borealis Foods financials → Quarterly statements, key ratios, valuation history and price charts.
Borealis Foods Key Stats
| Share Price | $1.13 |
|---|---|
| Market Cap | $24.2M |
| Revenue YoY Growth | +13.8% |
| 52-Week Range | $0.65 – $3.79 |
| Shares Outstanding | 21.4 million (basic, 2026 Q1) |
Borealis Foods Income Statement
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $27.7M | $31.5M |
| Cost of Goods Sold | $0 | $0 | $25.5M | $26.6M |
| Gross Profit | $175.9M | $0 | $2.2M | $3.5M |
| Operating Income | -$2.9M | -$5.1M | -$20.4M | -$11.0M |
| Pre-Tax Income | -$302,544 | -$2.9M | -$25.5M | -$19.0M |
| Income Tax | — | $0 | -$134,901 | -$66,710 |
| Net Income | -$302,544 | -$2.9M | -$25.3M | -$19.0M |
| Diluted EPS | -$0.01 | -$0.32 | -$1.25 | -$0.89 |
Borealis Foods Quarterly Results
| 2025 Q2 | 2025 Q3 | 2025 Q4 | 2026 Q1 | |
|---|---|---|---|---|
| Revenue | $7.2M | $7.1M | $10.3M | $7.8M |
| Net Income | -$4.6M | -$3.8M | -$6.4M | -$3.5M |
| Diluted EPS | $0.21 | -$0.18 | -$0.30 | -$0.16 |
Borealis Foods Balance Sheet
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Cash & Equivalents | $680,792 | — | — | $64,000 |
| Current Assets | $916,794 | $122,715 | $11.8M | $8.1M |
| Total Assets | $179.4M | $22.0M | $60.0M | $52.6M |
| Current Liabilities | $2.5M | $7.5M | $25.4M | $69.8M |
| Total Long-Term Debt | $860,000 | $1.4M | $31.0M | $25.8M |
| Total Liabilities | $181.0M | $29.4M | $60.7M | $71.8M |
| Shareholders' Equity | -$1.6M | -$7.4M | -$695,886 | -$19.2M |
Borealis Foods Cash Flow Statement
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Cash From Operations | -$2.1M | -$2.3M | -$15.1M | -$6.6M |
| Cash From Investing | — | $158.8M | -$1.9M | -$65,738 |
| Cash From Financing | $1.7M | -$157.1M | $10.0M | $6.1M |
| Free Cash Flow | — | — | -$16.7M | — |
Figures from Borealis Foods' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Borealis Foods financials page for every line item.
Borealis Foods Company Profile
| Ticker | BRLS |
|---|---|
| Exchange | Nasdaq |
| Industry | Food and Kindred Products |
| Headquarters | Oakville, Ontario, Canada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company, emerging growth company |
| SEC CIK | 0001852973 |
Frequently Asked Questions
What was Borealis Foods' revenue in fiscal 2025?
Borealis Foods (BRLS) reported revenue of $31.5M for fiscal 2025.
What is Borealis Foods' annual revenue history?
Borealis Foods' annual revenue by fiscal year: 2022: $0; 2023: $0; 2024: $27.7M; 2025: $31.5M.
What was Borealis Foods' net income in fiscal 2025?
Borealis Foods reported net income of -$19.0M for fiscal 2025.
What was Borealis Foods' earnings per share (EPS) in fiscal 2025?
Borealis Foods' diluted EPS was -$0.89 for fiscal 2025 (adjusted for any later stock splits).
What was Borealis Foods' revenue last quarter?
In its most recent reported quarter (2026 Q1), Borealis Foods reported revenue of $7.8M.
How much debt does Borealis Foods have?
Borealis Foods reported $25.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Borealis Foods are outstanding?
Borealis Foods reported a weighted average of 21.4 million basic shares outstanding in 2026 Q1.
What is Borealis Foods' market cap?
Based on its latest closing price, Borealis Foods (BRLS) has a market capitalization of about $24.2M.
When does Borealis Foods' fiscal year end?
Borealis Foods' fiscal year end, as registered with the SEC, is December 31.
Where is Borealis Foods headquartered?
Borealis Foods lists its business address in Oakville, Ontario, Canada in its SEC filings.