BRLS · Borealis Foods Inc. · Financials
Substantial doubt about the company's ability to continue as a going concern.
“Notwithstanding these transactions, management has concluded under ASC 205-40 that substantial doubt about the Company's ability to continue as a going concern has not been alleviated. Material conditions remain, including: (i) the requirement to consummate at least $70.00 million of equity financing at $9.00 per share on or before July 1, 2026, for which the Company has no commitments and which threshold is substantially above recent trading prices of the Common Shares; (ii) if such financing is not consummated, the contractual conversion of approximately $29.13 million of related-party indebtedness (plus approximately $4.26 million of accrued interest as of June 30, 2026) into Common Shares, which conversion is itself subject to receipt of shareholder approvals required under Nasdaq Listing Rules 5635(b) and 5635(d) that have not been obtained; (iii) the Company's continued reliance on demand and past-due obligations to related parties; and (iv) the fact that the Company's total liabilities continue to exceed total assets.”View the 10-Q filed Jun 30, 2026
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| $32.03M | $31.48M | $29.1M | $29.98M | — | — | |
| — | $30.08M | $27.67M | — | — | — | |
| $27.15M | $26.57M | $25.48M | $31.29M | — | — | |
| $3.45M | $3.51M | $2.19M | -$1.3M | $175.95M | $172.5M | |
| — | 11.16% | 7.52% | -4.35% | — | — | |
| $200K | $202K | $197K | $460K | — | — | |
| $13.63M | $14.55M | $22.59M | $18.65M | — | — | |
| $1.75M | $1.84M | $2.32M | $3.94M | — | — | |
| -$10.18M | -$11.04M | -$20.4M | -$19.95M | -$2.89M | — | |
| — | -35.06% | -70.12% | -66.53% | — | — | |
| -$8.43M | -$9.19M | -$18.08M | -$16.01M | — | — | |
| $6.18M | $5.99M | $5.06M | $7.28M | — | — | |
| — | — | — | $5159 | $4010 | — | |
| -$8.19M | -$8.01M | -$5.06M | -$7.87M | — | — | |
| -$18.37M | -$19.05M | -$25.46M | — | — | — | |
| — | -$66.71K | -$134.9K | -$336.03K | — | — | |
| -$18.3M | -$18.98M | -$25.33M | -$27.48M | -$302.54K | — | |
| — | -60.3% | -87.03% | -91.64% | — | — | |
| -$18.3M | -$18.98M | -$25.33M | — | — | — | |
| USD/shares | -$0.85 | -$0.89 | -$1.25 | -$2.56 | — | — |
| USD/shares | -$0.85 | -$0.89 | -$1.25 | -$2.56 | — | — |
| shares | — | 21.43M | 20.31M | 10.75M | — | — |
| shares | — | 21.43M | 20.31M | 10.75M | — | — |
Debt Profile
Annual debt figures are established from 10-K filings and updated by subsequent 10-Q and 8-K disclosures. Instrument balances are not summed into a company total unless the filing itself reports that total.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 30 similar-size Packaged Foods companies (of 70 listed).
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Geography (USD)
| Component | FY2025 | FY2024 |
|---|---|---|
| Southeast Region | $10,695,000 | $11,933,000 |
| Midwest Region | $9,446,000 | $4,307,000 |
| Southwest Region | $3,400,000 | $2,731,000 |
| Northeast Region | $2,441,000 | $1,547,000 |
| Mountain | $2,186,000 | $1,422,000 |
| Pacific | $1,839,000 | $5,109,000 |
| International | $1,469,000 | $2,051,000 |