10-Q Filing

FRESHPET, INC. CIK: 1611647 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-018298`
Period End Date	20160331
Filing Date	20160506
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	frpt-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 32 Cash Flow Statement 55

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.54M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.54M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$3.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.54M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.54M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$7.13M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$7.03M	USD	Point-in-time
Inventories, net	`InventoryNet`	$6.85M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.18M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$229.63K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$25.39M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$82.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$92.67M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.24M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.02M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.67M	USD	Point-in-time
Total Assets	`Assets`	$114.28M	USD	Point-in-time
Total Assets	`Assets`	$113.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.25M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.68M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$204.31K	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$146.19K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$9.15M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$11.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.07M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,538,485 and 33,536,940 issued and outstanding on March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$33.54K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,538,485 and 33,536,940 issued and outstanding on March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$33.54K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$293.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$292.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-188.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-190.34M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$103.95M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$103.21M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$114.28M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$113.10M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$31.45M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$27.05M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$13.80M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$16.57M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$13.25M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$14.89M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$15.68M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$16.49M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.60M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.42M	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$40.87K	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$109.96K	USD	1 Quarter
Interest Expense	`InterestExpense`	$116.74K	USD	1 Quarter
Interest Expense	`InterestExpense`	$37.54K	USD	1 Quarter
Other Expenses, Total	`NonoperatingIncomeExpense`	$-157.61K	USD	1 Quarter
Other Expenses, Total	`NonoperatingIncomeExpense`	$-147.50K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.57M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.76M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.59M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.77M	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.54M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.47M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.47M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.54M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Provision for losses (gains) on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$-918.00	USD	1 Quarter
Provision for losses (gains) on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$7.80K	USD	1 Quarter
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-143.41K	USD	1 Quarter
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-8.72K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.01M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.86M	USD	1 Quarter
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$114.11K	USD	1 Quarter
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$-58.12K	USD	1 Quarter
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$6.01K	USD	1 Quarter
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$133.17K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.07M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.75M	USD	1 Quarter
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$35.90K	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`	$110.54K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$118.94K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.46M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$974.90K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-572.12K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$130.03K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$184.99K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.48M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.77M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.41M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-711.33K	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.02M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.11M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$7.50M	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$3.25M	USD	1 Quarter
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$13.05M	USD	1 Quarter
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$4.96M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$5.67K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.79M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.46M	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$10.97K	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$14.96K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.97K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.96K	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.76M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.34M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Interest paid	`InterestPaid`	$5.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$24.74K	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.32M	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$839.72K	USD	1 Quarter

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