The following is a summary of the Barfresh Food Group, Inc. (BRFH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Barfresh reported Q4 revenue of $1.9 million, marking an upturn from the $1.4 million revenue of Q4 2022.

• Annual revenue for 2023 was $8.1 million, in comparison with the higher figure of $9.2 million in 2022, attributed to supply issues and loss of customers.

• The company reported a net loss of $701,000 for Q4 2023, which represented an improvement from the Q4 2022 loss of $1.9 million.

• Gross margin for the fourth quarter of 2023 was documented as 33%, which is less than the 36% achieved in Q4 2022.

• On the balance sheets as of end 2023, Barfresh had roughly $1.96 million in cash and around $1.2 million worth of inventory.

• Selling, marketing, and distribution expenses for 2023 decreased by 9% to $2.6 million, demonstrating cost-cutting measures in the face of current challenges.

Business Progress:

• Despite supply and manufacturing issues, Barfresh successfully expanded its product range, introduced a smoothie carton product in late 2022, and drew in new school accounts - including a top-five U.S. school district.

• The company's launch of USDA reimbursable, 100% juice concentrates offers further growth opportunities.

• A military broker contract is in progress which will enable national coverage of all U.S. Military bases with Barfresh products.

• The company projects increased revenue growth in Q1 2024.

More details: Barfresh Food IR

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