Freshpet Files Q3 2024 10-Q

TL;DR

Freshpet's Q3 2024 10-Q is in. Get the latest numbers.

AI Summary

Freshpet, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for the company. Key financial data and operational updates are presented for the period.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Freshpet, Inc. during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks or opportunities.

Key Players & Entities

• Freshpet, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-04 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — had 48,536,779 shares of common stock, $0.001 par value per share, outstanding. Tab

Filing Documents

• frpt-20240930.htm (10-Q) — 1000KB
• ex-311xfrptx20240930.htm (EX-31.1) — 9KB
• frpt-20240930xexx312.htm (EX-31.2) — 9KB
• frpt-exx321x20240930.htm (EX-32.1) — 6KB
• frpt-20240930_g1.jpg (GRAPHIC) — 5KB
• 0001611647-24-000019.txt ( ) — 5523KB
• frpt-20240930.xsd (EX-101.SCH) — 38KB
• frpt-20240930_cal.xml (EX-101.CAL) — 74KB
• frpt-20240930_def.xml (EX-101.DEF) — 137KB
• frpt-20240930_lab.xml (EX-101.LAB) — 522KB
• frpt-20240930_pre.xml (EX-101.PRE) — 358KB
• frpt-20240930_htm.xml (XML) — 671KB

Financial Information

Part I. Financial Information 5 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss ) 6 Condensed Consolidated Statements of Changes in Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 36

Other Information

Part II. Other Information 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 5. Other Information 37 Item 6. Exhibits 38 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this report are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "aim," "anticipate," "believe," "estimate," "expect," "forecast," "outlook," "potential," "project," "projection," "plan," "target," "intend," "seek," "may," "could," "would," "will," "should," "can," "can have," "likely," the negatives thereof and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. They appear in a number of places throughout this report and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: our ability to meet our sustainability targets, goals, and commitments, including due to the impact of climate change; changes in global economic and financial market conditions generally, such as continued inflation and interest rate increases; the impact of various worldwide or macroeconomic events, such as the ongoing conflict between Russia and Ukraine and the current conflict in Israel and the Gaza Strip, on U.S. and global economics, our employees, suppliers, customers and end consumers, which could adversely and materially impact o

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements FRESHPET, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except per share data) September 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 274,594 $ 296,871 Accounts receivable, net of allowance for doubtful accounts 65,015 56,754 Inventories, net 72,791 63,238 Prepaid expenses 5,768 7,615 Other current assets 3,126 2,841 Total Current Assets 421,294 427,319 Property, plant and equipment, net 1,039,980 979,164 Deposits on equipment 1,118 1,895 Operating lease right of use assets 3,671 3,616 Long term investment in equity securities 33,446 23,528 Other assets 32,189 28,899 Total Assets $ 1,531,698 $ 1,464,421 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 35,481 $ 36,096 Accrued expenses 50,396 49,816 Current operating lease liabilities 1,290 1,312 Current finance lease liabilities 2,075 1,998 Total Current Liabilities $ 89,242 $ 89,222 Convertible senior notes 394,633 393,074 Long term operating lease liabilities 2,556 2,591 Long term finance lease liabilities 23,820 26,080 Total Liabilities $ 510,251 $ 510,967 Commitments and contingencies — — STOCKHOLDERS' EQUITY: Common stock — voting, $ 0.001 par value, 200,000 shares authorized, 48,551 issued and 48,537 outstanding on September 30, 2024, and 48,277 issued and 48,263 outstanding on December 31, 2023 48 48 Additional paid-in capital 1,321,767 1,282,984 Accumulated deficit ( 299,928 ) ( 328,731 ) Accumulated other comprehensive loss ( 184 ) ( 591 ) Treasury stock, at cost — 14 shares on September 30, 2024 and on December 31, 2023 ( 256 ) ( 256 ) Total Stockholders' Equity 1,021,447 953,454 Total Liabilities and Stockholders' Equity $ 1,531,698 $ 1,464,421 See accompanying notes to the unaudited condensed consolidated financial statements. 5 Table of Contents FRESHPET, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

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