BranchOut Food Inc. (BOF) Earnings
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | — | $-0.12 | — | $3M | — |
| Mar 31, 2026 | — | $-0.16 | — | — | — |
| Nov 12, 2025 | — | $-0.14 | — | $3M | — |
| Aug 13, 2025 | — | $-0.17 | — | $3M | — |
| May 15, 2025 | — | $-0.11 | — | $3M | — |
| Nov 14, 2024 | — | $-0.19 | — | $2M | — |
| Aug 14, 2024 | — | $-0.22 | — | $1M | — |
| Apr 1, 2024 | — | $-0.37 | — | $1M | — |
| Nov 14, 2023 | — | $-0.18 | — | $906996 | — |
| Aug 21, 2023 | — | $-0.59 | — | $343065 | — |
| Mar 31, 2023 | — | $-0.65 | — | $97340 | — |
| Dec 31, 2022 | — | $-1.55 | — | $26529 | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 14, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
### Overall Corporate Strategy - Core 2026 strategy is channel and customer diversification to increase factory capacity utilization, building on the 2025 concentration in club retail and private label. - The fourth production line came online in May 2026, dedicated to new REV platform product categories including dried dairy, dried cheeses, and cheesecakes. - The industrial ingredient channel provides operational synergy by utilizing production output that does not meet retail quality standards, turning a potential waste stream into incremental revenue. ### Retail Customer Progress - Costco continues to perform well: existing pineapple chips are expanding to the Southeast US in June 2026, with a larger additional order already placed for Q4 2026; a new mango chip product will launch in the Bay Area in June 2026, with $3 million to $4 million in pending Costco multi-pack product opportunities for back-to-school season. - New club customer Sam's Club launched a four-fruit crunchy chip mix nationwide in early Q2 2026; after two weeks, the product is averaging $600 per club per week in revenue, exceeding the upper success threshold, and selling out faster than projected. Permanent everyday placement could generate $15 million in annual revenue for this single SKU. - Verbal approval has been received for 4 to 6 branded SKUs to launch in Target in H2 2026, with final decisions expected in May 2026; the partnership opens the door to larger future expansion with the retailer. - A recent meeting with Walmart category managers featured tastings of over 35 Branch Out products (including new dried cheese lines), with strong positive interest; commercial launches are now targeted for early 2027. - A new network of 200+ sales brokers has been engaged to place branded multi-pack products in general grocery channels, building long-term recurring revenue with a projected $20 million to $30 million long-term opportunity. ### New Channel and Global Expansion - A new tolling service opportunity is in development with a large consumer brand that has successfully market-tested its own REV-based product; the brand would supply raw material, and Branch Out would only provide drying service, with projected $6 million to $7 million in annual revenue. A final deal is expected by Q3 2026, with ramping in Q4. - A new European private label partnership has secured its first order, with products being sampled to major European grocery chains including Aldi and Lidl; the business is expected to scale quickly. - The industrial ingredient channel grew to $2 million in 2025, with the channel's strategic partner committing to additional 2026 orders and projected full-year 2026 revenue of $6 million to $7 million; the channel also includes a new opportunity to supply products for Trader Joe's via a third-party customer. ### Operational Updates - Factory utilization reached 45% per month in March–May 2026, the threshold management targets for operating profitability; utilization will increase further with the fourth production line coming online. Q1 2026 focused on building inventory to fulfill incoming Q2 2026 orders, so most revenue from Q1 production will be recognized in Q2. - Balance sheet update: Inventory grew from $2.385 million at the end of 2025 to $4 million at the end of Q1 2026, with all existing inventory already allocated to customer orders. Recent capital raising proceeds have been allocated to inventory and the fourth production line build-out. Total current assets are $7.7 million, with adjusted truly current liabilities of ~$4.5 million after accounting for extended convertible note terms.
Guidance
- Management maintained its prior full-year 2026 revenue guidance of a total revenue figure with a leading '2' (i.e., $20s of millions). The prior split guidance of 40% of revenue in H1 and 60% in H2 may shift to 35% H1 / 65% H2, as H2 2026 is tracking stronger than initial projections. Q2 2026 is expected to deliver record revenue. - The company expects to have sufficient liquidity to operate through the end of 2026, with approximately $5 million in cash collections expected in June–July 2026, unless a transformational >$15 million order is secured that would require additional capital. - Management expects to secure a revolving credit facility with a major commercial bank in the future once the company demonstrates more consistent operating performance; in the interim, the company uses flexible financing from existing shareholder Kauffman Capital at an 8% interest rate.
Segment performance
Segment-level financial results are not broken out in detail for Q1 2026. Only aggregated full-year and channel-level revenue projections are provided. The industrial ingredient channel generated ~$2 million in revenue in 2025, and is projected to reach $6 million to $7 million in 2026. The new potential tolling service channel is projected to generate $6 million to $7 million in annual revenue if finalized. Management noted the single Sam's Club SKU could reach $15 million in annual revenue if it becomes a permanent everyday item, while the general grocery branded channel represents a $20 million to $30 million long-term opportunity. There is no revenue contribution percentage data provided for individual segments in the transcript.
Risks & headwinds
- Forward-looking statements are subject to material risks that could cause actual results to differ from projections, including changes in market conditions, customer demand, competitive dynamics, regulatory developments, ongoing supply chain disruptions, and broader economic conditions. Additional risks are detailed in the company's SEC filings. - Pending customer opportunities (including $3 million to $4 million in uncommitted Costco orders, Walmart launches, and Target placements) are not guaranteed and may not result in final orders or the projected revenue levels. - The company is not yet large or consistent enough to qualify for a major bank revolving credit facility, so it relies on financing from a single existing shareholder for near-term working capital needs.