10-Q Filing

FRESHPET, INC. CIK: 1611647 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001564590-15-007242`
Period End Date	20150630
Filing Date	20150813
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	frpt-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 66 Cash Flow Statement 60

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`	$502.78K	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 cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.50M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.51M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.51M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $502,781 on June 30, 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 $502,781 on June 30, 2015 and $359,425 on December 31, 2014	`AccountsReceivableNetCurrent`	$6.30M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.31M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.81M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$689.65K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$50.23M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$38.34M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$57.83M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$69.18M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$2.88M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.86M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.49M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.53M	USD	Point-in-time
Total Assets	`Assets`	$112.88M	USD	Point-in-time
Total Assets	`Assets`	$112.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.15M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.94M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.41M	USD	Point-in-time
Accrued warrants	`AccruedWarrants`	$706.94K	USD	Point-in-time
Accrued warrants	`AccruedWarrants`	$777.10K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$9.07M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$10.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.07M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,505,104 and 33,468,342 issued and outstanding on June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$33.51K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,505,104 and 33,468,342 issued and outstanding on June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$33.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$288.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$292.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-189.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-184.86M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$103.39M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$102.54M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$112.88M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$112.46M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$39.74M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$55.41M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$28.36M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$20.39M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$28.50M	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$10.31M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$14.70M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$20.37M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$10.07M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$13.66M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$26.91M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$19.37M	USD	2 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$15.69M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$13.40M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$25.00M	USD	2 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$31.49M	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-5.63M	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.57M	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-3.33M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.03M	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$64.68K	USD	2 Qtrs
Other Expenses, net	`OtherNonoperatingExpense`	$68.83K	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$43.48K	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$85.08K	USD	2 Qtrs
Fees on Debt Guarantee	`FeesOnDebtGuarantee`	$3.65M	USD	2 Qtrs
Fees on Debt Guarantee	`FeesOnDebtGuarantee`	$1.81M	USD	1 Quarter
Interest Expense	`InterestExpense`	$110.68K	USD	1 Quarter
Interest Expense	`InterestExpense`	$1.08M	USD	1 Quarter
Interest Expense	`InterestExpense`	$148.22K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$2.03M	USD	2 Qtrs
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-179.51K	USD	1 Quarter
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-5.76M	USD	2 Qtrs
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-212.90K	USD	2 Qtrs
Other Expenses, Total	`OtherNonoperatingIncomeExpense`	$-2.93M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.21M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.79M	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.26M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.39M	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$30.00K	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$16.00K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-4.82M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-6.27M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.23M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-11.41M	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.82M	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.77M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.26M	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.23M	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-1.30	USD	2 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.77	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.14	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-1.30	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.14	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.77	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	14.04M	shares	2 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.48M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	14.04M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.48M	shares	2 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.48M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.04M	shares	2 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.04M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.48M	shares	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.82M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.41M	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$211.56K	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$24.00K	USD	2 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-80.68K	USD	2 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-70.71K	USD	2 Qtrs
Fees on debt guarantee	`FeesOnDebtGuarantee`	$3.65M	USD	2 Qtrs
Fees on debt guarantee	`FeesOnDebtGuarantee`	$1.81M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$3.66M	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$485.85K	USD	2 Qtrs
Fair value adjustment for outstanding warrants	`WarrantLiabilityRevaluationGainLoss`	$-70.16K	USD	2 Qtrs
Change in reserve for inventory obsolescence	`InventoryWriteDown`	$-79.29K	USD	2 Qtrs
Change in reserve for inventory obsolescence	`InventoryWriteDown`	$-5.03K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.12M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.62M	USD	2 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$126.05K	USD	2 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$70.97K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$961.13K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.09M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$161.32K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$492.07K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-601.73K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.12M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$44.95K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$94.07K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$739.24K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.74M	USD	2 Qtrs
Accrued expenses and accrued interest on long-term debt	`IncreaseDecreaseInAccruedExpensesAndAccruedInterestOnLongTermDebt`	$1.10M	USD	2 Qtrs
Accrued expenses and accrued interest on long-term debt	`IncreaseDecreaseInAccruedExpensesAndAccruedInterestOnLongTermDebt`	$-497.14K	USD	2 Qtrs
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.06M	USD	2 Qtrs
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.44M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$7.50M	USD	2 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$10.04M	USD	2 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$10.36M	USD	2 Qtrs
Acquisitions of land and building	`PaymentsToAcquireRealEstate`	$4.98M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$234.13K	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.51M	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.13M	USD	2 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$7.50M	USD	2 Qtrs
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$242.46K	USD	2 Qtrs
Proceeds from preferred stock - Series C issued	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$6.55M	USD	2 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.05M	USD	2 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$242.46K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-520.93K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.21M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$16.05M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$16.05M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.44M	USD	Point-in-time
Interest paid	`InterestPaid`	$1.88M	USD	2 Qtrs
Interest paid	`InterestPaid`	$99.74K	USD	2 Qtrs
Preferred stock dividend accretion	`AccretionOfPreferredStockDividends`	$6.85M	USD	2 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$2.19M	USD	2 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.98M	USD	2 Qtrs

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