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Borealis Foods is a pioneering, integrated food science and manufacturing company that is redefining affordable nutrition. Known for popular ramen noodle brands like the high protein Chef Woo, Chef Ramsay, Ramen Express, and Woodles, Borealis Foods brings innovative fusion flavors from diverse culinary traditions, creating delicious and nutritious meal options for consumers.
The business is unprofitable at the operating level (-36.69% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 8.7%, steady but not accelerating.
Negative free cash flow of -$7M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$30M
▲ +8.7% YoY
Net Income (TTM)
-$19M
▲ +25.1% YoY
Op. Margin
-36.69%
▲ +37.1pp YoY
ROIC
-206.39%
▲ +112.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▲ +60.2% YoY
Op. Cash Flow (TTM)
-$7M
▲ +56.3% YoY
Net Debt
$4M
Cash & Equiv.
$64K
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