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Borealis Foods Inc. income statement

In fiscal 2025, Borealis Foods Inc. reported revenue of $31.5m, up 8.2% on the year before, operating income of −$11.0m (a -35.1% margin) and net income of −$19.0m, or −$0.89 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2023Dec 20232024Dec 20242025Dec 2025LTMMar 2026
Revenue30293132
Cost of revenue31252727
Gross profit−1243
Research and development0000
Selling, general and administrative19231514
Operating income−20−20−11−10
Interest expense7566
Income before tax—−25−19−18
Income tax−0−0−0—
Net income−27−25−19−18
Diluted EPS−$1.28−$1.25−$0.89−$0.85
Diluted shares (average)22m20m21m21m
EBITDA−16−18−9−7

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Borealis Foods Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Borealis Foods Inc.