# Borealis Foods Inc.: financial statements, quarterly

BRLS · Nasdaq · CIK 1852973 · [Consumer staples](/sectors/consumer-staples.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/brls.md) · [Financials](/companies/brls/financials.md) · [Filings](/companies/brls/filings.md) · [Insiders](/companies/brls/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/brls/financials.md?period=annual).

## Income statement

| Line item | Unit | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [6.8](/filings/0001628280-24-037185.md) | [8.3](/filings/0001628280-24-047881.md) | [7.5 d](/filings/0001628280-25-017861.md) | [7.9](/filings/0001213900-25-045956.md) | [5.5](/filings/0001628280-24-037185.md) | [8.1](/filings/0001628280-24-047881.md) | [7.1 d](/filings/0001628280-25-017861.md) | [7.2](/filings/0001213900-26-073767.md) | [7.2](/filings/0001213900-25-078599.md) | [7.1](/filings/0001213900-25-112699.md) | [10.3 d](/filings/0001213900-26-105243.md) | [7.8](/filings/0001213900-26-073767.md) |
| Cost of revenue | $m | [7.5](/filings/0001628280-24-037185.md) | [8.2](/filings/0001628280-24-047881.md) | [6.9 d](/filings/0001628280-25-017861.md) | [7.7](/filings/0001213900-25-045956.md) | [4.9](/filings/0001213900-25-078599.md) | [6.4](/filings/0001213900-25-112699.md) | [6.5 d](/filings/0001213900-26-105243.md) | [5.9](/filings/0001213900-25-045956.md) | [6.7](/filings/0001213900-25-078599.md) | [6.1](/filings/0001213900-25-112699.md) | [7.9 d](/filings/0001213900-26-105243.md) | [6.5](/filings/0001213900-26-073767.md) |
| Gross profit | $m | [(1.0)](/filings/0001628280-24-037185.md) | [(0.5)](/filings/0001628280-24-047881.md) | [0.6 d](/filings/0001628280-25-017861.md) | [0.2](/filings/0001213900-25-045956.md) | [0.4](/filings/0001213900-25-078599.md) | [1.3](/filings/0001213900-25-112699.md) | [0.3 d](/filings/0001213900-26-105243.md) | [0.9](/filings/0001213900-26-073767.md) | [0.5](/filings/0001213900-25-078599.md) | [1.0](/filings/0001213900-25-112699.md) | [1.1 d](/filings/0001213900-26-105243.md) | [0.8](/filings/0001213900-26-073767.md) |
| Research and development | $m | [0.0](/filings/0001628280-24-037185.md) | [0.0](/filings/0001628280-24-047881.md) | [0.0 d](/filings/0001628280-25-017861.md) | [0.0](/filings/0001213900-25-045956.md) | [0.1](/filings/0001213900-25-078599.md) | [0.1](/filings/0001213900-25-112699.md) | [0.1 d](/filings/0001213900-26-105243.md) | [0.1](/filings/0001213900-26-073767.md) | [0.1](/filings/0001213900-25-078599.md) | [0.1](/filings/0001213900-25-112699.md) | [0.0 d](/filings/0001213900-26-105243.md) | [0.1](/filings/0001213900-26-073767.md) |
| Selling, general and administrative | $m | [5.4](/filings/0001628280-24-037185.md) | [3.9](/filings/0001628280-24-047881.md) | [5.1 d](/filings/0001628280-25-017861.md) | [7.2](/filings/0001213900-25-045956.md) | [5.6](/filings/0001213900-25-078599.md) | [4.9](/filings/0001213900-25-112699.md) | [4.9 d](/filings/0001213900-26-105243.md) | [3.8](/filings/0001213900-26-073767.md) | [3.9](/filings/0001213900-25-078599.md) | [3.0](/filings/0001213900-25-112699.md) | [3.9 d](/filings/0001213900-26-105243.md) | [2.9](/filings/0001213900-26-073767.md) |
| Operating income | $m | [(6.4)](/filings/0001628280-24-037185.md) | [(4.4)](/filings/0001628280-24-047881.md) | [(4.5) d](/filings/0001628280-25-017861.md) | [(7.0)](/filings/0001213900-25-045956.md) | [(5.2)](/filings/0001213900-25-078599.md) | [(3.6)](/filings/0001213900-25-112699.md) | [(4.6) d](/filings/0001213900-26-105243.md) | [(2.9)](/filings/0001213900-26-073767.md) | [(3.4)](/filings/0001213900-25-078599.md) | [(1.9)](/filings/0001213900-25-112699.md) | [(2.8) d](/filings/0001213900-26-105243.md) | [(2.1)](/filings/0001213900-26-073767.md) |
| Interest expense | $m | [1.8](/filings/0001628280-24-037185.md) | [2.2](/filings/0001628280-24-047881.md) | [1.7 d](/filings/0001628280-25-017861.md) | [1.5](/filings/0001213900-25-045956.md) | [1.1](/filings/0001213900-25-078599.md) | [1.2](/filings/0001213900-25-112699.md) | [1.3 d](/filings/0001213900-26-105243.md) | [1.3](/filings/0001213900-26-073767.md) | [1.2](/filings/0001213900-25-078599.md) | [1.9](/filings/0001213900-25-112699.md) | [1.6 d](/filings/0001213900-26-105243.md) | [1.5](/filings/0001213900-26-073767.md) |
| Income tax | $m | [0.0](/filings/0001628280-24-037185.md) | [0.0](/filings/0001628280-24-047881.md) | [(0.4) d](/filings/0001628280-25-017861.md) | not reported | [0.0](/filings/0001213900-25-078599.md) | [0.0](/filings/0001213900-25-112699.md) | [(0.1) d](/filings/0001213900-26-105243.md) | not reported | [0.0](/filings/0001213900-25-078599.md) | [0.0 d](/filings/0001213900-25-112699.md) | [(0.1) d](/filings/0001213900-26-105243.md) | not reported |
| Net income | $m | [(8.3)](/filings/0001628280-24-047881.md) | [(6.6)](/filings/0001628280-24-047881.md) | [(27.5)](/filings/0001628280-25-017861.md) | [(8.4)](/filings/0001213900-25-112699.md) | [(6.3)](/filings/0001213900-25-112699.md) | [(4.8)](/filings/0001213900-25-112699.md) | [(25.3)](/filings/0001628280-25-017861.md) | [(4.2)](/filings/0001213900-26-073767.md) | [(4.6)](/filings/0001213900-25-112699.md) | [(3.8)](/filings/0001213900-25-112699.md) | [(6.4) d](/filings/0001213900-26-105243.md) | [(3.5)](/filings/0001213900-26-073767.md) |
| Diluted EPS | $ per share | [(0.77)](/filings/0001628280-24-037185.md) | [(0.61)](/filings/0001628280-24-047881.md) | [(2.56)](/filings/0001628280-25-017861.md) | [(0.49)](/filings/0001213900-25-045956.md) | [0.29](/filings/0001213900-25-078599.md) | [(0.23)](/filings/0001213900-25-112699.md) | [(1.25)](/filings/0001628280-25-017861.md) | [(0.20)](/filings/0001213900-26-073767.md) | [0.21](/filings/0001213900-25-078599.md) | [(0.18)](/filings/0001213900-25-112699.md) | not reported | [(0.16)](/filings/0001213900-26-073767.md) |
| Basic EPS | $ per share | [(0.77)](/filings/0001628280-24-037185.md) | [(0.61)](/filings/0001628280-24-047881.md) | [(2.56)](/filings/0001628280-25-017861.md) | [(0.49)](/filings/0001213900-25-045956.md) | [0.29](/filings/0001213900-25-078599.md) | [(0.23)](/filings/0001213900-25-112699.md) | [(1.25)](/filings/0001628280-25-017861.md) | [(0.20)](/filings/0001213900-26-073767.md) | [0.21](/filings/0001213900-25-078599.md) | [(0.18)](/filings/0001213900-25-112699.md) | not reported | [(0.16)](/filings/0001213900-26-073767.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold, us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpenseNonoperating, us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss, us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | not reported | [0.1](/filings/0001213900-23-088623.md) | [7.6](/filings/0001628280-25-017861.md) | [8.2](/filings/0001213900-24-045327.md) | [3.1](/filings/0001628280-24-037185.md) | [0.7](/filings/0001628280-24-047881.md) | [0.7](/filings/0001213900-26-105243.md) | [0.2](/filings/0001213900-25-045956.md) | [0.2](/filings/0001213900-25-078599.md) | [0.1](/filings/0001213900-25-112699.md) | [0.1](/filings/0001213900-26-105243.md) | [0.5](/filings/0001213900-26-073767.md) |
| Current assets | $m | [0.0](/filings/0001213900-23-068909.md) | [0.1](/filings/0001213900-23-088623.md) | [17.2](/filings/0001628280-25-017861.md) | [22.2](/filings/0001213900-24-045327.md) | [15.1](/filings/0001628280-24-037185.md) | [13.4](/filings/0001628280-24-047881.md) | [11.8](/filings/0001213900-26-105243.md) | [10.6](/filings/0001213900-25-045956.md) | [9.9](/filings/0001213900-25-078599.md) | [9.5](/filings/0001213900-25-112699.md) | [8.1](/filings/0001213900-26-105243.md) | [6.8](/filings/0001213900-26-073767.md) |
| Total assets | $m | [21.1](/filings/0001213900-23-068909.md) | [21.6](/filings/0001213900-23-088623.md) | [65.8](/filings/0001628280-25-017861.md) | [70.3](/filings/0001213900-24-045327.md) | [63.6](/filings/0001628280-24-037185.md) | [61.9](/filings/0001628280-24-047881.md) | [60.0](/filings/0001213900-26-105243.md) | [58.4](/filings/0001213900-25-045956.md) | [57.3](/filings/0001213900-25-078599.md) | [56.3](/filings/0001213900-25-112699.md) | [52.6](/filings/0001213900-26-105243.md) | [50.9](/filings/0001213900-26-073767.md) |
| Current liabilities | $m | [4.7](/filings/0001213900-23-068909.md) | [6.1](/filings/0001213900-23-088623.md) | [67.3](/filings/0001628280-25-017861.md) | [28.8](/filings/0001213900-24-045327.md) | [28.7](/filings/0001628280-24-037185.md) | [30.3](/filings/0001628280-24-047881.md) | [25.4](/filings/0001213900-26-105243.md) | [35.9](/filings/0001213900-25-045956.md) | [39.4](/filings/0001213900-25-078599.md) | [64.1](/filings/0001213900-25-112699.md) | [69.8](/filings/0001213900-26-105243.md) | [71.8](/filings/0001213900-26-073767.md) |
| Total liabilities | $m | not reported | not reported | [87.1](/filings/0001628280-25-017861.md) | [54.1](/filings/0001213900-24-045327.md) | [53.7](/filings/0001628280-24-037185.md) | [56.8](/filings/0001628280-24-047881.md) | [60.7](/filings/0001213900-26-105243.md) | [63.2](/filings/0001213900-25-045956.md) | [66.4](/filings/0001213900-25-078599.md) | [69.2](/filings/0001213900-25-112699.md) | [71.8](/filings/0001213900-26-105243.md) | [73.6](/filings/0001213900-26-073767.md) |
| Shareholders' equity | $m | [(9.3)](/filings/0001628280-24-047881.md) | [(14.8)](/filings/0001628280-24-047881.md) | [(21.3)](/filings/0001213900-26-105243.md) | [16.2](/filings/0001213900-25-112699.md) | [9.9](/filings/0001213900-25-112699.md) | [5.1](/filings/0001213900-25-112699.md) | [(0.7)](/filings/0001213900-26-105243.md) | [(4.8)](/filings/0001213900-26-073767.md) | [(9.2)](/filings/0001213900-25-112699.md) | [(12.9)](/filings/0001213900-25-112699.md) | [(19.2)](/filings/0001213900-26-105243.md) | [(22.7)](/filings/0001213900-26-073767.md) |

- Cash and equivalents: us-gaap:Cash, us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $k | [(5,295) d](/filings/0001628280-24-037185.md) | [(4,846) d](/filings/0001628280-24-047881.md) | [(1,950) d](/filings/0001628280-25-017861.md) | [(6,769)](/filings/0001213900-25-045956.md) | [(4,234) d](/filings/0001213900-25-078599.md) | [(3,267) d](/filings/0001213900-25-112699.md) | [(819) d](/filings/0001213900-26-105243.md) | [(1,373)](/filings/0001213900-26-073767.md) | [(2,197) d](/filings/0001213900-25-078599.md) | [(191) d](/filings/0001213900-25-112699.md) | [(2,839) d](/filings/0001213900-26-105243.md) | [(123)](/filings/0001213900-26-073767.md) |
| Capital expenditure | $k | [1,933 d](/filings/0001628280-24-037185.md) | [662 d](/filings/0001628280-24-047881.md) | [950 d](/filings/0001628280-25-017861.md) | [551](/filings/0001213900-25-045956.md) | [514 d](/filings/0001628280-24-037185.md) | [454 d](/filings/0001628280-24-047881.md) | [132 d](/filings/0001628280-25-017861.md) | [16.2](/filings/0001213900-25-045956.md) | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [10.7](/filings/0001213900-24-045327.md) | [10.7](/filings/0001628280-24-037185.md) | [10.7](/filings/0001628280-24-047881.md) | [10.8](/filings/0001628280-25-017861.md) | [17.1](/filings/0001213900-25-045956.md) | [21.4](/filings/0001213900-25-078599.md) | [21.4](/filings/0001213900-25-112699.md) | [20.3](/filings/0001628280-25-017861.md) | [21.4](/filings/0001213900-26-073767.md) | [21.4](/filings/0001213900-25-078599.md) | [21.5](/filings/0001213900-25-112699.md) | [21.4](/filings/0001213900-26-073767.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 21,463,306 at 2026-09-30, from the cover of the [10-K/A filed 2026-09-30](/filings/0001213900-26-105243.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.