Tue, Apr 15, 1:02 PM (28 days ago)
### Summary of BranchOut Food Inc. (BOF) Annual Report (2024) **Company Overview:** BranchOut Food Inc. (BOF) is a Nevada-based company engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and powders. The company was originally incorporated as AvoChips Inc. in Oregon in 2017 and later converted to BranchOut Food Inc. in 2021. BOF's products are manufactured using proprietary dehydration technology licensed from EnWave Corporation. **Financial Performance (2024):** - **Revenue:** $6,516,337, an increase of $3,690,482 or 131% from 2023. - **Net Income:** $(4,751,516), an increase in net loss of $825,806 or 21% from 2023. - **Gross Profit:** $863,620, or 13% of revenues, compared to a gross loss of $(96,230) in 2023. - **Operating Expenses:** $4,766,061, including general and administrative expenses, salaries, and professional fees. - **Earnings per Share:** Not explicitly stated, but the company reported a net loss per share of $(0.83). **Strategic Overview:** BOF aims to grow revenues by penetrating the multi-billion dollar grocery, industrial ingredient, and online markets. The company's product line includes BranchOut Snacks, Private Label products, and BranchOut Industrial Ingredients. BOF has initiated its own production facility in Peru to become vertically integrated and improve operating margins. **Future Outlook:** The company anticipates substantial improvements in operational results due to the recent launch of its new facility in Peru. However, there is no assurance of this outcome, and BOF may need to obtain additional financing to fund operations. **Risk Factors:** - **Operating History and Financial Position:** BOF is an early-stage company with significant competition and a history of losses. - **Market Position:** The company faces intense competition from established and emerging competitors. - **Regulatory Risks:** BOF's operations are subject to various regulations, and non-compliance could adversely affect the business. - **Supply Chain Risks:** The company relies on a limited number of suppliers and is vulnerable to disruptions. - **Economic Factors:** The premium organic and natural food industry is sensitive to economic conditions. **Financial Condition:** As of December 31, 2024, BOF had: - **Cash:** $2,329,452 - **Total Liabilities:** $10,514,292 - **Accumulated Deficit:** $17,562,057 - **Stockholders' Equity:** $2,341,583 **Market Position Changes:** BOF's products are carried in 1,400 stores of a major retailer as of December 31, 2024. The company has also entered into strategic partnerships and collaborations to expand its market presence. **Note:** The amounts are usually in thousands, 000s.