10-Q Filing

FRESHPET, INC. CIK: 1611647 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-009445`
Period End Date	20170331
Filing Date	20170508
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	frpt-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 32 Cash Flow Statement 56

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.04M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$8.72M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.96M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.04M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$8.89M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.61M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$769.94K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.12M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.24M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.71M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.49M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.62M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.71M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.27M	USD	Point-in-time
Total Assets	`Assets`	$126.45M	USD	Point-in-time
Total Assets	`Assets`	$126.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.79M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.53M	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$253.39K	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$145.28K	USD	Point-in-time
Borrowings under Credit Facilities	`ShortTermBorrowings`	$7.00M	USD	Point-in-time
Borrowings under Credit Facilities	`ShortTermBorrowings`	$5.75M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$18.67M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$20.42M	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.67M	USD	Point-in-time
Total Liabilities	`Liabilities`	$20.42M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,040,832 and 33,961,650 issued and outstanding on March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$34.04K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,040,832 and 33,961,650 issued and outstanding on March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$33.96K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$299.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$300.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-191.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-194.61M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$107.78M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$106.39M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$126.80M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$126.45M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$34.51M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$31.45M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$16.57M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$18.71M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$15.80M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$14.89M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$16.49M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$18.54M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.60M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.74M	USD	1 Quarter
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$57.68K	USD	1 Quarter
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$-40.87K	USD	1 Quarter
Interest Expense	`InterestExpense`	$116.74K	USD	1 Quarter
Interest Expense	`InterestExpense`	$175.98K	USD	1 Quarter
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$-118.30K	USD	1 Quarter
Other Income/(Expenses), Total	`NonoperatingIncomeExpense`	$-157.61K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.76M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.86M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$20.75K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.88M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.77M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.88M	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.54M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.56M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.56M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.54M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.88M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Provision for loss on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$7.80K	USD	1 Quarter
Provision for loss on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$77.16K	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`	$-6.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.01M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$930.16K	USD	1 Quarter
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$-58.12K	USD	1 Quarter
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$-108.12K	USD	1 Quarter
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$133.17K	USD	1 Quarter
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$81.92K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.07M	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`	$40.75K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-90.75K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$110.54K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.29M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.46M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-275.71K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$974.90K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$184.99K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$265.27K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.77M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.80M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-736.95K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.41M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.08M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.02M	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`	$3.27M	USD	1 Quarter
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$13.05M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$5.67K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$5.83K	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.26M	USD	1 Quarter
Net cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.79M	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$10.97K	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$553.22K	USD	1 Quarter
Repayment of borrowings under Credit Facilities	`RepaymentsOfLinesOfCredit`	$1.25M	USD	1 Quarter
Net cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.97K	USD	1 Quarter
Net cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-696.78K	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.88M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.76M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	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`	$3.91M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	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`	$3.91M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$266.13K	USD	Point-in-time
Interest paid	`InterestPaid`	$5.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$154.16K	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$839.72K	USD	1 Quarter
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.45M	USD	1 Quarter

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