Borealis Foods Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	27.9	27.67	29.98	25.59	13.63
Revenue Growth (YoY)	-1.65%	-7.72%	17.17%	87.71%	-
Cost of Revenue	23.32	23.16	27.35	33.66	13.85
Gross Profit	4.58	4.51	2.63	-8.07	-0.21
Selling, General & Admin	15.32	20.89	12.77	14.99	10
Research & Development	0.21	0.2	0.46	-	-
Operating Expenses	17.4	23.41	17.17	14.99	10
Operating Income	-12.82	-18.9	-14.54	-23.06	-10.21
Interest Expense	-5.64	-5.06	-7.28	-3.22	-0.26
Currency Exchange Gain (Loss)	-0.01	0	0.07	0	-0
Other Non Operating Income (Expenses)	-	-	0.3	-	-
EBT Excluding Unusual Items	-18.47	-23.96	-21.44	-26.28	-10.48
Merger & Restructuring Charges	-	-1.51	-5.41	-	-
Gain (Loss) on Sale of Assets	-	-	-0.96	0.05	-
Other Unusual Items	-	-	-	-	0.38
Pretax Income	-18.47	-25.46	-27.82	-26.23	-10.1
Income Tax Expense	-0.14	-0.13	-0.34	0.06	0.02
Net Income	-18.33	-25.33	-27.48	-26.28	-10.12
Net Income to Common	-18.33	-25.33	-27.48	-26.28	-10.12
Shares Outstanding (Basic)	21	20	11	162	-
Shares Outstanding (Diluted)	21	20	11	162	-
Shares Change (YoY)	21.20%	88.93%	-93.38%	-	-
EPS (Basic)	-0.86	-1.25	-2.56	-0.16	-
EPS (Diluted)	-0.86	-1.25	-2.56	-0.16	-
Free Cash Flow	-4.71	-16.74	-22.47	-27.43	-27.99
Free Cash Flow Per Share	-0.22	-0.82	-2.09	-0.17	-
Gross Margin	16.40%	16.31%	8.78%	-31.53%	-1.56%
Operating Margin	-45.95%	-68.30%	-48.48%	-90.12%	-74.88%
Profit Margin	-65.72%	-91.54%	-91.64%	-102.70%	-74.24%
Free Cash Flow Margin	-16.89%	-60.50%	-74.94%	-107.20%	-205.33%
EBITDA	-10.95	-16.58	-10.6	-19.61	-8.11
EBITDA Margin	-39.25%	-59.91%	-35.35%	-76.63%	-59.49%
D&A For EBITDA	1.87	2.32	3.94	3.45	2.1
EBIT	-12.82	-18.9	-14.54	-23.06	-10.21
EBIT Margin	-45.95%	-68.30%	-48.48%	-90.12%	-74.88%
Revenue as Reported	27.9	27.67	29.98	-	-
Advertising Expenses	-	5.73	2.24	0.13	0.12

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q