10-Q Filing

FRESHPET, INC. CIK: 1611647 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-027640`
Period End Date	20160930
Filing Date	20161104
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	frpt-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 64 Cash Flow Statement 62

Balance Sheet 50 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
Common stock, shares issued	`CommonStockSharesIssued`	33.54M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.84M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.26M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$3.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.54M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$8.67M	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`	$6.32M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$229.63K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$780.02K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$25.39M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.27M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$82.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$100.01M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.24M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.67M	USD	Point-in-time
Total Assets	`Assets`	$113.10M	USD	Point-in-time
Total Assets	`Assets`	$124.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.67M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.72M	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$204.31K	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$185.31K	USD	Point-in-time
Borrowings under Credit Facilities	`ShortTermBorrowings`	$9.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$19.58M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$9.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$19.58M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,839,791 and 33,536,940 issued and outstanding on September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$33.84K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 33,839,791 and 33,536,940 issued and outstanding on September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$33.54K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$297.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$292.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-192.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-188.57M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$105.03M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$103.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$113.10M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$124.60M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$30.57M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$34.54M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$85.98M	USD	3 Qtrs
NET SALES	`SalesRevenueNet`	$98.99M	USD	3 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$53.84M	USD	3 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$45.02M	USD	3 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$16.52M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$19.19M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$45.15M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$40.96M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$14.05M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$15.35M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$48.92M	USD	3 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$14.54M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$16.06M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$47.48M	USD	3 Qtrs
INCOME/(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-6.52M	USD	3 Qtrs
INCOME/(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.01M	USD	1 Quarter
INCOME/(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$808.20K	USD	1 Quarter
INCOME/(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-3.77M	USD	3 Qtrs
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$-93.04K	USD	3 Qtrs
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$41.60K	USD	1 Quarter
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$332.32K	USD	3 Qtrs
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$467.17K	USD	1 Quarter
Interest Expense	`InterestExpense`	$113.82K	USD	1 Quarter
Interest Expense	`InterestExpense`	$490.10K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$214.07K	USD	1 Quarter
Interest Expense	`InterestExpense`	$262.04K	USD	3 Qtrs
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$-583.13K	USD	3 Qtrs
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$70.29K	USD	3 Qtrs
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$353.35K	USD	1 Quarter
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$-172.47K	USD	1 Quarter
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.35M	USD	3 Qtrs
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.45M	USD	3 Qtrs
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$635.73K	USD	1 Quarter
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.66M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$45.00K	USD	3 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$45.00K	USD	3 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$620.73K	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
NET INCOME/(LOSS)	`NetIncomeLoss`	$-6.49M	USD	3 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$-4.39M	USD	3 Qtrs
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.39M	USD	3 Qtrs
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$620.73K	USD	1 Quarter
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.68M	USD	1 Quarter
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.49M	USD	3 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.13	USD	3 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.19	USD	3 Qtrs
-BASIC	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.13	USD	3 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.19	USD	3 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.51M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.60M	shares	3 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.49M	shares	3 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.72M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.49M	shares	3 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.60M	shares	3 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.51M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.17M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$620.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.49M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.39M	USD	3 Qtrs
Provision for gains on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$-7.15K	USD	3 Qtrs
Provision for gains on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$-2.78K	USD	3 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-83.32K	USD	3 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-169.80K	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$5.49M	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$3.46M	USD	3 Qtrs
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$-19.01K	USD	3 Qtrs
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$-405.08K	USD	3 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$32.88K	USD	3 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$113.58K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.54M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.96M	USD	3 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$108.96K	USD	3 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$109.68K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.63M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.67M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-419.06K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-479.25K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$550.39K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-995.82K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$164.80K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$324.89K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$571.39K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.70M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-732.02K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.45M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.97M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.32M	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$7.50M	USD	3 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$3.25M	USD	3 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$3.75M	USD	3 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$17.57M	USD	3 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$26.10M	USD	3 Qtrs
Acquisitions of land and building	`PaymentsToAcquireRealEstate`	$4.98M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$29.40K	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$12.51K	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-26.27M	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.83M	USD	3 Qtrs
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$291.75K	USD	3 Qtrs
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$1.98M	USD	3 Qtrs
Proceeds from borrowings under Credit Facilities	`ProceedsFromLinesOfCredit`	$10.00M	USD	3 Qtrs
Repayment of borrowings under Credit Facilities	`RepaymentsOfLinesOfCredit`	$1.00M	USD	3 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.98M	USD	3 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$291.75K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.53M	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.01M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$3.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$15.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	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`	$3.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.25M	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`	$36.26M	USD	Point-in-time
Interest paid	`InterestPaid`	$363.99K	USD	3 Qtrs
Interest paid	`InterestPaid`	$175.58K	USD	3 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$472.36K	USD	3 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$577.69K	USD	3 Qtrs

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