Borealis Foods Inc.
Income Statement
| Line Item | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.8M | $10.0M | $7.1M | $7.2M | $7.2M | $8.2M | $7.7M | $5.3M |
| Cost of Revenue | $6.5M | $7.9M | $6.1M | $6.7M | $5.9M | $6.5M | $6.4M | $4.9M |
| Gross Profit | $838.9K | $1.1M | $1.0M | $514.9K | $899.8K | $251.3K | $1.3M | $422.3K |
| Gross Margin | 10.8% | 10.6% | 14.6% | 7.2% | 12.5% | 3.1% | 16.6% | 7.9% |
| Operating Expenses | ||||||||
| Research & Development | $50.0K | $46.0K | $52.0K | $52.0K | $52.0K | $54.0K | $56.0K | $50.0K |
| SG&A Expense | $2.9M | $3.9M | $3.0M | $3.9M | $3.8M | $4.9M | $4.9M | $5.6M |
| Operating Income | $-2.1M | $-2.8M | $-1.9M | $-3.4M | $-2.9M | $-4.6M | $-3.6M | $-5.2M |
| Operating Margin | -26.5% | -28.5% | -27.1% | -46.7% | -40.4% | -56.4% | -47.1% | -97.4% |
| Interest Expense | $1.5M | $1.6M | $1.9M | $1.2M | $1.3M | $1.3M | $1.2M | $1.1M |
| Pretax Income | $-3.5M | $-6.5M | $-3.8M | $-4.6M | $-4.2M | $-5.9M | $-4.8M | $-6.3M |
| Income Tax Expense | — | — | — | $14.0K | — | — | $832 | $14.1K |
| Net Income | $-3.5M | $-6.4M | $-3.8M | $-4.6M | $-4.2M | $-25.3M | $-4.8M | $-6.3M |
| Net Margin | -45.1% | -64.4% | -53.2% | -64.0% | -58.0% | -309.2% | -62.9% | -118.3% |
| EPS (Basic) | $-0.16 | $-0.72 | $-0.18 | $0.21 | $-0.20 | $-1.25 | $-0.23 | $0.29 |
| EPS (Diluted) | $-0.16 | $-0.72 | $-0.18 | $0.21 | $-0.20 | $-1.25 | $-0.23 | $0.29 |
| Shares Outstanding (Basic) | 21.4M | 21.4M | 21.5M | 21.4M | 21.4M | 20.3M | 21.4M | 21.4M |
| Shares Outstanding (Diluted) | 21.4M | 21.4M | 21.5M | 21.4M | 21.4M | 20.3M | 21.4M | 21.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |