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BRLSBorealis Foods Inc.
$1.07$23M
Overview & Verdict
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BRLS logoBorealis Foods Inc.(BRLS)Earnings, Financials & Key Ratios

BRLS•NASDAQ
$1.07
Price updated Jul 7, 2026
SectorConsumer DefensiveIndustryPackaged FoodsSub-IndustryProtein foods and meat alternatives
AboutBorealis Foods Inc. engages in the distribution of plant-based protein food products. The company's product includes Chef Woo, a high-protein meat alternative; and Ramen Express, vegetarian ramen noodles. Borealis Foods Inc. was incorporated in 2020 and is based in Oakville, Canada.Show more
  • Revenue$45M-11.2%
  • EBITDA-$9M+49.1%
  • Net Income-$19M+25.1%
  • EPS (Diluted)-0.89+28.8%
  • Gross Margin40.47%-17.9%
  • EBITDA Margin-20.6%+42.7%
  • Operating Margin-24.73%+39.1%
  • Net Margin-42.53%+15.6%

BRLS Price & Volume

Borealis Foods Inc. (BRLS) stock price & volume — 10-year historical chart

Loading chart...

Persistent Operational Losses Challenge Capital Structure Stability

Investment Thesis • Updated 2025Q4

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Insolvency and Liquidity Constraints

Key Thesis Takeaways

  • Borealis Foods faces a precarious fundamental outlook characterized by structural margin deficiencies and a rapidly deteriorating equity base that has shifted to a $19.2 million deficit as of 2025Q4.
  • While the company achieved a 32.3% revenue growth rate in the most recent quarter, this top-line expansion is overshadowed by an operating margin of -31.7% and a critical liquidity crunch.
  • Investors should remain cautious as the firm's reliance on debt to fund ongoing cash burn, coupled with a current ratio of 0.12, suggests significant insolvency risks that may necessitate further dilutive financing.

Verdict Logic

the company's current ratio of 0.12 and persistent negative free cash flow trajectory indicate severe liquidity constraints that threaten long-term operational viability.

BRLS Growth Metrics

Borealis Foods Inc. (BRLS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years20.37%
TTM-7.52%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM13.18%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM15.33%

Return on Capital

10 Years-29.64%
5 Years-29.64%
3 Years-43.14%
Last Year-0.22%

BRLS Recent Earnings

Borealis Foods Inc. (BRLS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
Q3 2026Latest
Jun 2, 2026
Metric
Actual
Est
EPS
$0.30
—
Rev
—
—
Q4 2025
Nov 19, 2025
Metric
Actual
Est
EPS
$0.18
—
Rev
$7M
—
Q3 2025
Aug 19, 2025
Metric
Actual
Est
EPS
$0.21
—
Rev
$7M
—
Q2 2025
Apr 21, 2025
Metric
Actual
Est
EPS
$0.28
—
Rev
$7M
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026LatestJun 2, 2026
$0.30
—
Q4 2025Nov 19, 2025
$0.18
$7M
Q3 2025Aug 19, 2025
$0.21
$7M
Q2 2025Apr 21, 2025
$0.28
$7M
Based on last 12 quarters of dataView full earnings history →

Latest BRLS News

Recent stock market news and headlines for Borealis Foods Inc. (BRLS)

Zacks Investment Research·1 day ago
Zacks Initiates Coverage of Borealis Foods With Underperform Recommendation

Discover why Zacks rates Borealis Foods as "Underperform", being the first on Wall Street to initiate coverage on the stock. Explore BRLS' struggles with weak finances, high leverage and ongoing profitability challenges.

Peers Comparison

Key metrics vs top competitors for Borealis Foods Inc. (BRLS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BRLS logoBRLSBorealis Foods Inc.Current
$1.07$22.97M-1.20-11.21%-42.53%——
SMPL logoSMPLThe Simply Good Foods Company
$13.17$1.19B12.918.98%-7.46%-6.15%—
HAIN logoHAINThe Hain Celestial Group, Inc.
$0.59$53.66M-0.10-10.17%-35.47%-140.7%—
NOMD logoNOMDNomad Foods Limited
$11.41$1.62B10.97-2.17%4.45%5.27%—
CPB logoCPBCampbell Soup Company
$22.90$6.83B11.396.4%6.12%15.3%—
GIS logoGISGeneral Mills, Inc.
$37.10$19.8B-231.88-5.45%-0.48%-0.98%—

Compare BRLS vs Peers

Borealis Foods Inc. (BRLS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SMPL

Most directly comparable listed peer for BRLS.

Scale Benchmark

vs MDLZ

Larger-name benchmark to compare BRLS against a more recognizable public peer.

Peer Set

Compare Top 5

vs SMPL, HAIN, NOMD, CPB

BRLS SEC Filings & Documents

Borealis Foods Inc. (BRLS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 30, 2026·SEC

Material company update

Jun 4, 2026·SEC

Material company update

May 27, 2026·SEC

10-K Annual Reports

3
FY 2026

Jun 2, 2026·SEC

FY 2025

Apr 15, 2025·SEC

FY 2024

Apr 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jun 30, 2026·SEC

FY 2025

Nov 19, 2025·SEC

FY 2025

Aug 19, 2025·SEC

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BRLS Frequently Asked Questions

Borealis Foods Inc. (BRLS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Borealis Foods Inc.'s revenue?

Borealis Foods Inc. (BRLS) reported $34.9M in revenue for fiscal year 2025. This represents a 48% increase from $23.6M in 2021.

How fast is Borealis Foods Inc. growing?

Borealis Foods Inc. (BRLS) saw revenue decline by 11.2% over the past year.

Is BRLS profitable?

Borealis Foods Inc. (BRLS) reported a net loss of $18.3M for fiscal year 2025.

Dividend & Returns
What is Borealis Foods Inc.'s free cash flow?

Borealis Foods Inc. (BRLS) had negative free cash flow of $128.1M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in BRLS back in 2021?

Total return calculator · dividends reinvested · 5+ years of data

See returns →