Business
Freshpet, Inc. Reports First Quarter 2025 Financial Results
Delivers Approximately 18% Net Sales GrowthStrong Operating Performance on Input, Quality and Logistics CostsUpdates 2025 Outlook BEDMINSTER, N.J., May 05,
About this update from Freshpet, Inc.
[{"type":"text","content":"Delivers Approximately 18% Net Sales GrowthStrong Operating Performance on Input, Quality and Logistics CostsUpdates 2025 Outlook BEDMINSTER, N.J., May 05, 2025 (GLOBE NEWSWIRE) -- Freshpet, Inc. (“Freshpet” or the “Company”) (Nasdaq: FRPT) today reported financial results for its first quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Compared to Prior Year Period Net sales of $263.2 million, an increase of 17.6%.Net loss of $12.7 million, compared to the prior year period net income of $18.6 million.Gross margin of 39.4%, consistent with the prior year period of 39.4%.Adjusted Gross Margin of 45.7%, compared to the prior year period of 45.3%.1Adjusted EBITDA of $35.5 million, compared to the prior year period of $30.6 million.1 “Despite the recent macro-economic headwinds, we believe Freshpet remains a structurally advantaged business with a long runway for growth in a category with long-term tailwinds. However, our growth year-to-date has not been as robust as we had anticipated so we are adapting our growth plans to the current economic challenges that our consumers are facing while continuing to drive the operational improvements that are essential to our long-term success,” commented Billy Cyr, Freshpet’s Chief Executive Officer. “Looking ahead, we believe it is prudent to adjust our 2025 outlook and plan as if the conditions we saw in the first quarter were to continue for the balance of the year. In doing so, we believe we are positioning Freshpet to weather the near-term economic headwinds and deliver long-term shareholder value while serving pets, people and the planet.” First Quarter 2025 Net sales increased 17.6% to $263.2 million for the first quarter of 2025 compared to $223.8 million for the prior year period. The increase in net sales was primarily driven by volume gains of 14.9% and favorable price/mix of 2.7%. Gross profit was $103.8 million for the first quarter of 2025, compared to $88.2 million for the prior year period. Gross profit as a percentage of net sales remained consistent at 39.4% for both periods, as the benefit from lower input costs and reduced quality costs was fully offset by reduced leverage on plant expenses. For the first quarter of 2025, Adjusted Gross Profit was $120.2 million, or 45.7% as a percentage of net sales, compared to $101.5 million, or 45.3% as a percentage ...