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Borealis Foods
(NASDAQ:BRLS)
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Rating:46Neutral
Price Target:
$1.50
▲(17.19% Upside)
Action:Reiterated
Date:08/27/26
The score is held down primarily by weak financial performance: large losses, negative equity, heavy leverage, and still-negative cash flow. Technicals are moderately supportive in the near term, but valuation remains pressured due to ongoing losses, and corporate events add meaningful risk via Nasdaq compliance/delisting concerns despite encouraging K–12 channel growth.
Positive Factors
K-12 channel expansion
Rapid K-12 adoption creates a potentially repeatable institutional demand channel. Expansion across thousands of schools and districts can improve customer reach, support manufacturing utilization, and establish foodservice as a durable growth platform.
Negative Factors
Deeply negative profitability
The substantial losses show that revenue growth has not yet produced sustainable earnings power. Low gross margins leave limited room to absorb production, distribution, and corporate costs, making profitability dependent on significant structural cost improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
K-12 channel expansion
Rapid K-12 adoption creates a potentially repeatable institutional demand channel. Expansion across thousands of schools and districts can improve customer reach, support manufacturing utilization, and establish foodservice as a durable growth platform.
Read all positive factors
Borealis Foods (BRLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.75M
Dividend YieldN/A
Average Volume (3M)44.22K
Price to Earnings (P/E)―
Beta (1Y)-0.42
Revenue Growth14.96%
EPS Growth13.45%
CountryUS
Employees140
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)N/A
Shares Outstanding21,463,306
10 Day Avg. Volume55,744
30 Day Avg. Volume44,222
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-2.23
Price to Sales (P/S)0.96
P/FCF Ratio>-0.01
Enterprise Value/Market Cap2.46
Enterprise Value/Revenue1.60
Enterprise Value/Gross Profit7.19
Enterprise Value/Ebitda-5.36
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Borealis Foods Business Overview & Revenue Model
Company Description
Borealis Foods Inc. is an enterprise focused on the distribution of food products that are rich in plant-derived protein. The company's offerings feature Chef Woo, a meat alternative with a high protein content, and Ramen Express, which provides v...
How the Company Makes Money
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Borealis Foods Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
5
Very Negative
Cash Flow
7
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.94M | 44.63M | 50.26M | 5.13M | 25.59M | 23.63M |
| Gross Profit | 7.79M | 18.06M | 24.78M | 5.13M | -8.07M | 9.78M |
| EBITDA | -10.45M | -11.22M | -18.08M | -2.77M | 564.79K | -7.74M |
| Net Income | -18.30M | -18.98M | -25.33M | -2.94M | -302.54K | -10.12M |
Balance Sheet | ||||||
| Total Assets | 50.95M | 52.57M | 60.01M | 65.79M | 179.62M | 177.49M |
| Cash, Cash Equivalents and Short-Term Investments | 479.86K | 63.86K | 652.97K | 7.62M | 680.79K | 1.12M |
| Total Debt | 26.19M | 27.08M | 32.28M | 66.85M | 1.50M | 0.00 |
| Total Liabilities | 73.65M | 71.80M | 60.70M | 87.13M | 2.50M | 235.05K |
| Stockholders Equity | -22.70M | -19.23M | -695.89K | -21.35M | 176.95M | 177.25M |
Cash Flow | ||||||
| Free Cash Flow | -128.14M | -6.60B | -9.04M | -22.47M | -5.49M | -27.99M |
| Operating Cash Flow | -128.10M | -6.60B | -7.07M | -18.01M | -2.11M | -6.78M |
| Investing Cash Flow | -39.99K | -65.74M | -1.91M | -4.47M | 0.00 | -21.21M |
| Financing Cash Flow | 544.01M | 6.08B | 9.47M | 24.94M | 1.66M | 27.52M |
Borealis Foods Technical Analysis
Negative
1.28
Price Trends
1.08
Negative
1.21
Negative
1.44
Negative
Market Momentum
0.08
Negative
48.21
Neutral
21.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRLS, the sentiment is Negative. The current price of 1.28 is above the 20-day moving average (MA) of 1.07, above the 50-day MA of 1.08, and below the 200-day MA of 1.44, indicating a bearish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 48.21 is Neutral, neither overbought nor oversold. The STOCH value of 21.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRLS.
Borealis Foods Risk Analysis
Borealis Foods disclosed 27 risk factors in its most recent earnings report. Borealis Foods reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Borealis Foods Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $13.75M | 10.20 | 3.34% | ― | -8.74% | -33.18% | |
49 Neutral | $43.88M | -10.05 | -11.36% | ― | 73.26% | -239.94% | |
46 Neutral | $22.75M | -1.25 | 114.30% | ― | 14.96% | 13.45% | |
38 Underperform | $13.55M | -0.92 | -21.48% | ― | 12.37% | -69.61% |
* Consumer Defensive Sector Average
BRLS
Borealis Foods
1.06
-1.75
-62.28%
BRID
Bridgford Foods
6.13
-1.65
-21.21%
NAII
Natural Alternatives International
2.16
-1.47
-40.50%
BTOG
Bit Origin
3.10
-114.32
-97.36%
LSF
Laird Superfood
3.92
-1.78
-31.23%
WYHG
Wing Yip Food Holdings Group Limited Sponsored ADR
4.94
-0.82
-14.24%
Borealis Foods Corporate Events
Business Operations and StrategyFinancial Disclosures
Borealis Foods Expands Rapidly in U.S. K–12 Market
Positive
Aug 26, 2026
On August 26, 2026, Borealis Foods announced significant expansion in the U.S. K–12 school foodservice market, reporting preliminary channel revenue growth of 110% for the six months ended June 30, 2026 versus the same period in 2025. Since ...
Delistings and Listing ChangesRegulatory Filings and Compliance
Borealis Foods Receives Nasdaq Noncompliance Delisting Warning
Negative
Jul 8, 2026
On July 2, 2026, Borealis Foods Inc. disclosed that it had received a notice from Nasdaq indicating the company no longer meets the $35 million Market Value of Listed Securities requirement for continued listing on The Nasdaq Capital Market and al...
Executive/Board ChangesShareholder Meetings
Borealis Foods Shareholders Back Board and Auditor Choices
Positive
Jun 30, 2026
On June 29, 2026, Borealis Foods Inc. held its 2026 annual meeting of shareholders, where 12,845,650 shares, representing 59.8% of outstanding common stock, were present in person via virtual attendance or by proxy, establishing a quorum for forma...
Private Placements and FinancingRegulatory Filings and Compliance
Borealis Foods Issues Convertible Note to Major Shareholder
Neutral
Jun 4, 2026
On May 29, 2026, Borealis Foods Inc. issued a $3 million senior unsecured convertible promissory note to its largest shareholder, OXUS CAPITAL PTE LTD., bearing 10% annual interest and maturing on the earlier of August 29, 2026 or acceleration aft...
Delistings and Listing ChangesRegulatory Filings and Compliance
Borealis Foods Receives Nasdaq Notice for Filing Delays
Negative
May 27, 2026
Borealis Foods Inc., a food technology company developing innovative, nutritious and affordable food products, has its common shares and warrants listed on the Nasdaq Capital Market under the tickers BRLS and BRLSW. The Toronto-based firm operates...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.