10-Q Filing

FRESHPET, INC. CIK: 1611647 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-022336`
Period End Date	20170930
Filing Date	20171107
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	frpt-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 64 Cash Flow Statement 63

Balance Sheet 52 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`	$3.50M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.84M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.84M	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`	$12.39M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.96M	shares	Point-in-time
Inventories, net	`InventoryNet`	$8.69M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.40M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$741.09K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$598.50K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$304.56K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$876.79K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.63M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.49M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.42M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$4.06M	USD	Point-in-time
Deposits on equipment	`DepositsOnPropertyPlantAndEquipmentNet`	$3.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.02M	USD	Point-in-time
Total Assets	`Assets`	$126.45M	USD	Point-in-time
Total Assets	`Assets`	$132.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.66M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.53M	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`	$5.50M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$18.67M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$20.39M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$236.88K	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.67M	USD	Point-in-time
Total Liabilities	`Liabilities`	$20.63M	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,835,698 and 33,961,650 issued and outstanding on September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$34.84K	USD	Point-in-time
Common stock voting, $0.001 par value, 200,000,000 shares authorized, 34,835,698 and 33,961,650 issued and outstanding on September 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`	$308.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-197.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-191.73M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$107.78M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$111.50M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$132.13M	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`	$98.99M	USD	3 Qtrs
NET SALES	`SalesRevenueNet`	$34.54M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$41.20M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$115.68M	USD	3 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$19.19M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$21.70M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$62.21M	USD	3 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$53.84M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$53.48M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$19.50M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$15.35M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$45.15M	USD	3 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$57.84M	USD	3 Qtrs
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$14.54M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$19.30M	USD	1 Quarter
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	`SellingGeneralAndAdministrativeExpense`	$48.92M	USD	3 Qtrs
(LOSS)/INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$199.02K	USD	1 Quarter
(LOSS)/INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$-4.37M	USD	3 Qtrs
(LOSS)/INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$-3.77M	USD	3 Qtrs
(LOSS)/INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$808.20K	USD	1 Quarter
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$41.60K	USD	1 Quarter
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$-93.04K	USD	3 Qtrs
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$-515.47K	USD	3 Qtrs
Other Income/(Expenses), net	`OtherNonoperatingIncomeExpense`	$41.44K	USD	1 Quarter
Interest Expense	`InterestExpense`	$490.10K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$465.25K	USD	1 Quarter
Interest Expense	`InterestExpense`	$214.07K	USD	1 Quarter
Interest Expense	`InterestExpense`	$830.93K	USD	3 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-583.13K	USD	3 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-423.82K	USD	1 Quarter
Other Expenses, Total	`NonoperatingIncomeExpense`	$-1.35M	USD	3 Qtrs
Other Expenses, Total	`NonoperatingIncomeExpense`	$-172.47K	USD	1 Quarter
(LOSS)/INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$635.73K	USD	1 Quarter
(LOSS)/INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.35M	USD	3 Qtrs
(LOSS)/INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-224.79K	USD	1 Quarter
(LOSS)/INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.71M	USD	3 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$62.26K	USD	3 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$20.75K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$45.00K	USD	3 Qtrs
NET (LOSS)/INCOME	`NetIncomeLoss`	$-245.55K	USD	1 Quarter
NET (LOSS)/INCOME	`NetIncomeLoss`	$-5.78M	USD	3 Qtrs
NET (LOSS)/INCOME	`NetIncomeLoss`	$-4.39M	USD	3 Qtrs
NET (LOSS)/INCOME	`NetIncomeLoss`	$620.73K	USD	1 Quarter
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$620.73K	USD	1 Quarter
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-245.55K	USD	1 Quarter
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.78M	USD	3 Qtrs
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.39M	USD	3 Qtrs
-BASIC	`EarningsPerShareBasic`	$-0.17	USD	3 Qtrs
-BASIC	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
-BASIC	`EarningsPerShareBasic`	$-0.13	USD	3 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.13	USD	3 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
-DILUTED	`EarningsPerShareDiluted`	$-0.17	USD	3 Qtrs
-DILUTED	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	34.32M	shares	3 Qtrs
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.72M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	34.67M	shares	1 Quarter
-BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	33.60M	shares	3 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.32M	shares	3 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.17M	shares	1 Quarter
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.60M	shares	3 Qtrs
-DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.67M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-245.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.78M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.39M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$620.73K	USD	1 Quarter
Provision for loss/(gains) on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$30.95K	USD	3 Qtrs
Provision for loss/(gains) on accounts receivable	`ProvisionForRecoveryOfLossesGainsOnAccountsReceivable`	$-7.15K	USD	3 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-169.80K	USD	3 Qtrs
Loss on disposal of equipment and deposits on equipment	`GainLossOnDispositionOfAssets`	$-97.69K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.29M	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`	$334.63K	USD	3 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$315.01K	USD	3 Qtrs
Change in reserve for inventory obsolescence	`ChangeInReserveForInventoryObsolescence`	$113.58K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.96M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$9.41M	USD	3 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCostsAndDiscounts`	$398.65K	USD	3 Qtrs
Amortization of deferred financing costs and loan discount	`AmortizationOfFinancingCostsAndDiscounts`	$109.68K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.63M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.53M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-419.06K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.60M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$550.39K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$347.88K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$162.49K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$324.89K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.31M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$571.39K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.45M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.13M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$236.88K	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.32M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.13M	USD	3 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$3.25M	USD	3 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$26.08M	USD	3 Qtrs
Acquisitions of property, plant and equipment, software and deposits on equipment	`PaymentsToAcquireProductiveAssets`	$10.84M	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.83M	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.84M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$245.29K	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$200.00K	USD	1 Quarter
Exercise of options to purchase common stock	`ProceedsFromStockOptionsExercised`	$5.61M	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
Proceeds from borrowings under Credit Facilities	`ProceedsFromLinesOfCredit`	$7.50M	USD	3 Qtrs
Repayment of borrowings under Credit Facilities	`RepaymentsOfLinesOfCredit`	$9.00M	USD	3 Qtrs
Repayment of borrowings under Credit Facilities	`RepaymentsOfLinesOfCredit`	$1.00M	USD	3 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.87M	USD	3 Qtrs
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.98M	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.53M	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.84M	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`	$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`	$2.07M	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`	$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`	$2.07M	USD	Point-in-time
Interest paid	`InterestPaid`	$489.74K	USD	3 Qtrs
Interest paid	`InterestPaid`	$363.99K	USD	3 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$497.21K	USD	3 Qtrs
Property, plant and equipment purchases in accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$472.36K	USD	3 Qtrs
Conversion of warrants to common stock	`ConversionOfWarrantsToCommonStock`	$588.02K	USD	3 Qtrs

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