AI Earnings Predictions for Freshpet Inc. (FRPT)

EX-99.1

2 frpt-exx991x20260805.htm

EX-99.1

Document

Exhibit 99.1

Freshpet, Inc. Reports Second Quarter 2026 Financial Results

Delivers ~15% Net Sales Growth

Raises 2026 Net Sales and Adjusted EBITDA Outlook

Updates Long-Term Adjusted Gross Margin Target to >49%

Bedminster, N.J. – August 5, 2026 – Freshpet, Inc. (“Freshpet” or the “Company”) (Nasdaq: FRPT) today reported financial results for its second quarter and six months ended June 30, 2026.

Second Quarter 2026 Financial Highlights Compared to Prior Year Period

•Net sales of $305.6 million, an increase of 15.5%.

•Gross margin of 42.1%, compared to the prior year period of 40.9%.

•Adjusted Gross Margin of 48.6%, compared to the prior year period of 46.9%.1

•Net income of $19.5 million, compared to the prior year period net income of $16.4 million.

•Adjusted EBITDA of $52.2 million, compared to the prior year period of $44.4 million.1

"Our second quarter performance demonstrates the strength and resilience of our business model. It also reinforces our belief that fresh is the future of pet food and that Freshpet is uniquely positioned to win in that segment," commented Billy Cyr, Freshpet’s Chief Executive Officer. "Despite economic headwinds and new competitors, we grew significantly faster than the category, improved margins, and produced strong cash flow. We believe our manufacturing scale and expertise enables us to deliver the highest quality products at the lowest costs, while our expanding omnichannel presence enables us to grow market share and deepen engagement with our most valuable pet parents. This gives us confidence in our ability to fulfill Freshpet's mission to help dogs and cats live longer, happier lives with the people who love them and create long-term value for shareholders."

Second Quarter 2026

Net sales increased 15.5% to $305.6 million for the second quarter of 2026, compared to $264.7 million in the prior year period. The increase in net sales was primarily driven by volume gains of 15.7%, partially offset by unfavorable price/mix of 0.2%.

Gross profit was $128.7 million, or 42.1% as a percentage of net sales, for the second quarter of 2026, compared to $108.2 million, or 40.9% as a percentage of net sales, in the prior year period. Gross profit as a percentage of net sales increased primarily due to lower input costs and improved leverage on plant expenses, partially offset by higher quality costs related to the startup of new technology lines. For the second quarter of 2026, Adjusted Gross Profit was $148.4 million, or 48.6% as a percentage of net sales, compared to $124.0 million, or 46.9% as a percentage of net sales, in the prior year period.1

Selling, general and administrative expenses (“SG&A”) were $107.0 million, or 35.0% as a percentage of net sales, for the second quarter of 2026, compared to $90.4 million, or 34.1% as a percentage of net sales, in the prior year period. SG&A as a percentage of net sales increased primarily due to increased logistics costs and variable compensation accrual, partially offset by decreased media spend as a percentage of net sales. Adjusted SG&A for the second quarter of 2026 was $96.1 million, or 31.4% as a percentage of net sales, compared to $79.6 million, or 30.1% as a percentage of net sales, in the prior year period.1

Net income was $19.5 million for the second quarter of 2026 compared to $16.4 million in the prior year period. The increase in net income was due to an additional gain on equity investment, as a result of certain post-closing adjustments on the sale of 100% of our non-controlling interest in a privately held company following its acquisition by a third party, and contributions from higher sales, partially offset by the increases in SG&A and income tax expense.

1 Adjusted Gross Margin, Adjusted Gross Profit, Adjusted SG&A, Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. See "Non-GAAP Measures" for how the Company defines these measures and the financial tables that accompany this release for reconciliations of these measures to the closest comparable GAAP measures.

1

Adjusted EBITDA was $52.2 million for the second quarter of 2026 compared to $44.4 million in the prior year period.1 The increase in Adjusted EBITDA was a result of increased Adjusted Gross Profit, partially offset by higher Adjusted SG&A.

First Six Months of 2026

Net sales increased 14.3% to $603.2 million for the first six months of 2026, compared to $527.9 million in the prior year period. The increase in net sales was primarily driven by volume gains of 15.1%, partially offset by unfavorable price/mix of 0.8%.

Gross profit was $249.4 million, or 41.3% as a percentage of net sales, for the first six months of 2026, compared to $212.0 million, or 40.2% as a percentage of net sales, in the prior year period. Gross profit as a percentage of net sales increased primarily due to lower input costs and improved leverage on plant expenses, partially offset by higher q

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frpt-20260223false000161164700016116472026-02-232026-02-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 23, 2026

FRESHPET, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware001-3672920-1884894 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)

1450 US-206,

Bedminster, New Jersey 07921

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, Including Area Code: (201) 520-4000 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common StockFRPTNASDAQ Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 23, 2026, Freshpet, Inc. (“Freshpet”) issued a press release disclosing its financial results for the quarter and year ended December 31, 2025. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. As previously announced, Freshpet will hold a conference call at 8:00 a.m., Eastern Time, on Monday, February 23, 2026, to discuss its financial results for the quarter and year ended December 31, 2025. Freshpet references non-GAAP financial information in the press release and makes similar references in the transcript to the conference call. A reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures is contained in the attached Exhibit 99.1 press release.

Item 7.01. Regulation FD Disclosure. On February 23, 2026, Freshpet published to the investor relations section of its website a presentation which will be used by Freshpet’s management team in meetings with analysts and stockholders. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated herein by reference. The information furnished with Item 2.02 and this Item 7.01, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“the Exchange Act”) or incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Freshpet uses the “Investors” section of its website (investors.freshpet.com) as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Item 9.01. Financial Statements and Exhibits. (d) Exhibits

Exhibit Number Description

99.1Press Release, dated February 23, 2026

99.2Investors Presentation

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRESHPET, INC.

Date: February 23, 2026By:/s/ John G. O'Connor Name: John G. O'Connor Title: Chief Financial Officer