# Borealis Foods Inc. (BRLS)

> Source: Nexqual · https://nexqual.com/BRLS · data as of 2026-10-14 20:00 UTC · cite as "Nexqual, Borealis Foods Inc. (BRLS), nexqual.com/BRLS" · informational, not investment advice.

**Price:** USD 1.09 (+0.00% on the day) · last close of Oct 14, 2026; US market closed, not a live price. Prev close 1.09 · day 0.98–1.11 · 52w 0.6–3.99 · market cap $23.4M · NCM

## Key facts
- Last four reported quarters (through Mar 31, 2026): revenue $32.4M, net income -$18.3M (-56.5% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y -67.3% vs S&P 500 +18.1%; 5Y -88.9% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2024 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | — | $30.0M | $29.1M | $31.5M | $32.4M |
| Gross profit | $176M | -$1.3M | $2.2M | $3.5M | — |
| Operating income | -$2.9M | -$19.9M | -$20.4M | -$11.0M | -$10.2M |
| Net income | -$303K | -$27.5M | -$25.3M | -$19.0M | -$18.3M |
| EPS (diluted) | — | -$2.56 | -$1.25 | -$0.89 | — |
| Free cash flow | — | -$22.5M | -$16.7M | — | — |
| Gross margin | — | -4.3% | 7.5% | 11.2% | — |
| Operating margin | — | -66.5% | -70.1% | -35.1% | -31.4% |
| Net margin | — | -91.6% | -87.0% | -60.3% | -56.5% |
| Revenue growth | — | — | -3.0% | +8.2% | — |
| Cash + short-term investments | $681K | $7.6M | $653K | $64K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Mar 31, 2026)
P/S 0.7x · Earnings yield -78.24%

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -67.3% | -88.9% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -67.4% | -35.6% |
| Volatility (annualized) | 171.9% | 101.1% |
| Max drawdown | -82.8% (Oct 2025→Feb 2026) | -94.2% (Jan 2024→Feb 2026) |

## Peers (Packaged Foods)
CPB (The Campbell's Company) USD 19.84 +4.70% · INGR (Ingredion Incorporated) USD 97.27 +0.01% · CAG (ConAgra Brands, Inc.) USD 14.18 +3.50% · PPC (Pilgrim's Pride Corporation) USD 28.89 +0.35% · SFD (Smithfield Foods, Inc.) USD 18.48 +1.43% · LW (Lamb Weston Holdings, Inc.) USD 54.21 +4.33%

## More
Full page: https://nexqual.com/BRLS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt