BranchOut Food Inc.
BOF · Food and Kindred Products · 15.3M shares · +118%/yr ↑ dilution · EDGAR filings ↗
Grade
F38Growth-stage snack maker scaling revenue fast but out of cash with going-concern-adjacent liquidity.
Strengths
- Revenue more than doubled to $13.7M; gross margin improved to 14.8% (27.8% adjusted)
- Manufacturing-led Peru facility and patented GentleDry tech could improve unit economics as utilization rises
Risks
- Cash and investments at $0 with 0-quarter runway (1.4th pct) — acute liquidity/going-concern risk dependent on external financing
- Deep losses — net margin -44.6%, operating margin -39%, FCF -$7.7M, interest coverage -6.9
- Negative working capital, customer concentration, and Peru operating/tariff exposure
Notable findings
- No interest coverageInterest coverage -6.87 (cannot cover interest)
- Net lossNet loss (net margin -44.6%)
- Cash burnNegative free cash flow (-7.7M)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.91 (<1)
- Chronic dilutionShare count +118%/yr over 2y (dilution, book value/share -47%)
- Revenue declineRevenue -35.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
14.8%
Operating margin
-39.1%
Net margin
-44.6%
Return on equity
-109.9%
Return on assets
-42.4%
ROIC
-64.5%
Revenue growth (QoQ)
-35.0%
Debt / equity
0.2×
Interest coverage
-6.9×
Current ratio
0.9×
Free cash flow
-$8M
Tangible book value
$6M
Cash & investments
$0
Cash runway
0q
Stock comp / revenue
1.8%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-15 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-05-07 | Material agreementExhibits | filing ↗ |
| 2026-04-17 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-03-20 | Exec/director changeExhibits | filing ↗ |
| 2026-01-30 | Material agreementResultsDebt obligationOtherExhibits | filing ↗ |
| 2026-01-27 | Material agreementExhibits | filing ↗ |
| 2025-12-30 | Shareholder voteExhibits | filing ↗ |
| 2025-11-14 | Material agreementOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-14 | 0001493152-26-023738 ↗ |
| 10-Q | 2026-05-14 | 2026-03-31 | 0001493152-26-023046 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001493152-26-021705 ↗ |
| 8-K | 2026-04-17 | 2026-04-17 | 0001493152-26-017850 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001493152-26-014040 ↗ |
| 8-K | 2026-03-20 | 2026-03-20 | 0001493152-26-011862 ↗ |
| 8-K | 2026-01-30 | 2026-01-28 | 0001493152-26-004483 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001493152-26-003838 ↗ |
| 8-K | 2025-12-30 | 2025-12-30 | 0001493152-25-029597 ↗ |
| 8-K | 2025-11-14 | 2025-11-13 | 0001493152-25-023442 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0001493152-25-021655 ↗ |
| 8-K | 2025-10-21 | 2025-10-21 | 0001493152-25-018789 ↗ |