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Barfresh Food Group (OTC:BRFH) Inc. (NASDAQ:BRFH), a $40 million market cap company that has seen 22% revenue growth over the last twelve months, held its annual meeting of stockholders on Tuesday, where shareholders voted on several key matters, according to a press release statement and related SEC filing.
All six current members of the board of directors were re-elected. The directors and the respective votes in favor and against were: Riccardo Delle Coste (9,812,042 in favor, 15,671 against), Steven Lang (9,315,319 in favor, 12,394 against), Joseph M. Cugine (9,605,886 in favor, 221,827 against), Alexander H. Ware (9,815,324 in favor, 12,389 against), Isabelle Ortiz-Cochet (9,815,463 in favor, 12,250 against), and Justin Borus (9,816,854 in favor, 10,859 against). The board elections come as the company’s stock has declined over 9% in the past week, according to InvestingPro data.
Shareholders also ratified the appointment of Eide Bailly LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 9,930,728 votes in favor, 407 votes against, and 9,000 abstentions.
Additionally, the compensation of the company’s named executive officers was approved on an advisory basis, with 9,809,173 votes in favor, 17,560 against, and 980 abstentions.
Barfresh Food Group is incorporated in Delaware and is listed on The Nasdaq Stock Market LLC under the ticker BRFH. The information reported is based on a press release statement and details from the company’s filing with the Securities and Exchange Commission.
In other recent news, Barfresh Food Group announced its first-quarter 2025 earnings, reporting a revenue increase to $2.9 million from $2.8 million in the same period last year. However, the company fell short of its revenue forecast of $3.94 million, contributing to a net loss of $761,000, a widening from $449,000 in Q1 2024. Despite these challenges, Barfresh remains optimistic about future growth, projecting a full-year revenue increase of 35-55% and anticipating positive adjusted EBITDA in the second half of 2025. The company is investing in expanding its manufacturing capabilities, which it expects will improve margins by the third and fourth quarters of 2025. Barfresh’s new product launches, such as the Pop and Go 100% Juice Freeze Pops, are aimed at capturing the education market. Additionally, the company has secured $3 million in growth financing to support scaling production capacity. Analysts from Maxim Group have noted the company’s efforts to improve manufacturing efficiency and capacity in preparation for the 2025-2026 school year.
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