10-Q Filing

FRESHPET, INC. CIK: 1611647 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001564590-15-003947`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	frpt-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 33 Cash Flow Statement 56

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$359.43K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$383.13K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.47M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.50M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.47M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $383,126 on March 31, 2015 and $359,425 on December 31, 2014	`AccountsReceivableNetCurrent`	$5.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.47M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $383,126 on March 31, 2015 and $359,425 on December 31, 2014	`AccountsReceivableNetCurrent`	$6.53M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.31M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.43M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$719.26K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.29M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$50.23M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$47.10M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$61.95M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$57.83M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$2.32M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$2.88M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.53M	USD	Point-in-time
Total Assets	`Assets`	$112.99M	USD	Point-in-time
Total Assets	`Assets`	$112.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.42M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.94M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$8.36M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$9.47M	USD	Point-in-time
Accrued warrants	`AccruedWarrants`	$706.94K	USD	Point-in-time
Accrued warrants	`AccruedWarrants`	$821.05K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$9.07M	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$10.29M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,470,732 and 33,468,342 issued and outstanding on March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$33.47K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,470,732 and 33,468,342 issued and outstanding on March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$33.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$290.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$288.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-184.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-187.44M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$102.71M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$103.39M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$112.46M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$112.99M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$27.05M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$19.35M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$10.06M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$13.80M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$13.25M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$9.29M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$11.59M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$15.79M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.30M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.54M	USD	1 Quarter
Other Income/(Expenses)	`OtherNonoperatingExpense`	$41.60K	USD	1 Quarter
Other Income/(Expenses)	`OtherNonoperatingExpense`	$-4.15K	USD	1 Quarter
Fees on Debt Guarantee	`FeesOnDebtGuarantee`	$1.84M	USD	1 Quarter
Interest Expense	`InterestExpense`	$953.98K	USD	1 Quarter
Interest Expense	`InterestExpense`	$37.54K	USD	1 Quarter
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-33.39K	USD	1 Quarter
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-2.83M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.13M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.57M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.14M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.59M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.49M	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.53	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.53	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.47M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	14.04M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.04M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.47M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-918.00	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$169.85K	USD	1 Quarter
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-8.72K	USD	1 Quarter
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-34.77K	USD	1 Quarter
Fees on debt guarantee	`FeesOnDebtGuarantee`	$1.84M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.86M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$242.93K	USD	1 Quarter
Fair value adjustment for outstanding warrants	`WarrantLiabilityRevaluationGainLoss`	$-114.11K	USD	1 Quarter
Change in reserve for inventory obsolescence	`InventoryWriteDown`	$6.01K	USD	1 Quarter
Change in reserve for inventory obsolescence	`InventoryWriteDown`	$91.53K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.75M	USD	1 Quarter
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$63.02K	USD	1 Quarter
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$35.29K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.17M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.74M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-719.41K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$118.94K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-572.12K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-61.01K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$130.03K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$109.91K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.48M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.68M	USD	1 Quarter
Accrued expenses and accrued interest on long-term debt	`IncreaseDecreaseInAccruedExpensesAndAccruedInterestOnLongTermDebt`	$286.41K	USD	1 Quarter
Accrued expenses and accrued interest on long-term debt	`IncreaseDecreaseInAccruedExpensesAndAccruedInterestOnLongTermDebt`	$-711.33K	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.11M	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-217.66K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$7.50M	USD	1 Quarter
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$4.96M	USD	1 Quarter
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$4.76M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$232.70K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.46M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.52M	USD	1 Quarter
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$14.96K	USD	1 Quarter
Proceeds from preferred stock - Series C issued	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$2.50M	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.50M	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.96K	USD	1 Quarter
NET CHANGE IN CASH AND EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.34M	USD	1 Quarter
NET CHANGE IN CASH AND EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-241.72K	USD	1 Quarter
CASH AND EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
CASH AND EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
CASH AND EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
CASH AND EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
CASH AND EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
CASH AND EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
CASH AND EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
CASH AND EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Interest paid	`InterestPaid`	$905.84K	USD	1 Quarter
Interest paid	`InterestPaid`	$24.74K	USD	1 Quarter
Preferred stock dividend accretion	`AccretionOfPreferredStockDividends`	$2.34M	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$758.22K	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.32M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.