10-Q Filing

FRESHPET, INC. CIK: 1611647 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-016505`
Period End Date	20170630
Filing Date	20170808
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	frpt-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 64 Cash Flow Statement 59

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`	$3.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$675.18K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.51M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.96M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$8.89M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$11.51M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.38M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$21.26M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.24M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.66M	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`	$3.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.09M	USD	Point-in-time
Total Assets	`Assets`	$126.45M	USD	Point-in-time
Total Assets	`Assets`	$128.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.07M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.53M	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$632.07K	USD	Point-in-time
Accrued warrants	`AccruedWarrantsCurrent`	$253.39K	USD	Point-in-time
Borrowings under Credit Facilities	`ShortTermBorrowings`	$7.00M	USD	Point-in-time
Borrowings under Credit Facilities	`ShortTermBorrowings`	$7.50M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$18.67M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$20.79M	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.67M	USD	Point-in-time
Total Liabilities	`Liabilities`	$20.79M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,513,231 and 33,961,650 issued and outstanding on June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$34.51K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,513,231 and 33,961,650 issued and outstanding on June 30, 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`	$305.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-191.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-197.26M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$107.78M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$107.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$128.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$126.45M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$74.48M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$64.46M	USD	2 Qtrs
NET SALES	`SalesRevenueNet`	$39.97M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$33.00M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$21.80M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$34.66M	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$40.51M	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$18.09M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$33.97M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$14.91M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$29.80M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$18.17M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$38.54M	USD	2 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$34.37M	USD	2 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$17.89M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$20.00M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.97M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.57M	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.57M	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.83M	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$134.64K	USD	2 Qtrs
Other Expenses, net	`OtherNonoperatingExpense`	$556.91K	USD	2 Qtrs
Other Expenses, net	`OtherNonoperatingExpense`	$614.59K	USD	1 Quarter
Other Expenses, net	`OtherNonoperatingExpense`	$93.77K	USD	1 Quarter
Interest Expense	`InterestExpense`	$189.70K	USD	1 Quarter
Interest Expense	`InterestExpense`	$159.29K	USD	1 Quarter
Interest Expense	`InterestExpense`	$365.68K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$276.03K	USD	2 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-922.59K	USD	2 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-410.67K	USD	2 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-253.06K	USD	1 Quarter
Other Expenses, Total	`NonoperatingIncomeExpense`	$-804.29K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.23M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.98M	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.63M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.49M	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$41.51K	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$20.75K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$30.00K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.65M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.01M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-5.53M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.53M	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.65M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.24M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.01M	USD	2 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.15	USD	2 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.16	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.15	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.16	USD	2 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	34.14M	shares	2 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	34.29M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.55M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.55M	shares	2 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.14M	shares	2 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.55M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.29M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.55M	shares	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.01M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.53M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
Provision for loss on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$47.57K	USD	2 Qtrs
Provision for loss on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$10.40K	USD	2 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-158.61K	USD	2 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-90.87K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.16M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.67M	USD	2 Qtrs
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$378.68K	USD	2 Qtrs
Fair value adjustment for outstanding warrants	`FairValueAdjustmentOfWarrants`	$28.18K	USD	2 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$104.57K	USD	2 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$128.11K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.20M	USD	2 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$72.07K	USD	2 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCosts`	$81.50K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.21M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.68M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.14M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.39M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$562.50K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$336.63K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$160.37K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$147.20K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.53M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.37M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$542.84K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.69M	USD	2 Qtrs
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-107.76K	USD	2 Qtrs
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.44M	USD	2 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$3.25M	USD	2 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$7.17M	USD	2 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$21.25M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$10.67K	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.99M	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.17M	USD	2 Qtrs
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$3.54M	USD	2 Qtrs
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$233.16K	USD	2 Qtrs
Proceeds from borrowings under Credit Facilities	`ProceedsFromLinesOfCredit`	$8.00M	USD	2 Qtrs
Proceeds from borrowings under Credit Facilities	`ProceedsFromLinesOfCredit`	$2.00M	USD	2 Qtrs
Repayment of borrowings under Credit Facilities	`RepaymentsOfLinesOfCredit`	$1.50M	USD	2 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.04M	USD	2 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$8.23M	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.23M	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.31M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$675.18K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`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`	$1.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$675.18K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Interest paid	`InterestPaid`	$131.30K	USD	2 Qtrs
Interest paid	`InterestPaid`	$296.12K	USD	2 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$769.83K	USD	2 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.23M	USD	2 Qtrs

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