BOFNasdaqFood and Kindred ProductsUS GAAP · USD

BranchOut Food Inc.

BranchOut Food Inc. is a U.S.-based food company focused on producing and commercializing dried fruit and vegetable products using proprietary dehydration technology. The company’s business model combines product development, manufacturing partnerships, and licensing arrangements tied to its drying process and equipment. Its reported contracts show a footprint that includes production in Peru and commercial relationships with Chilean and other Latin American counterparties. BranchOut appears to be building a branded and ingredient-oriented business around shelf-stable, nutrient-preserving food products rather than operating as a broad packaged-food conglomerate.

Revenue13.7m USD
+113.3 %y/y
Operating profit (EBIT)-5.4m USD
−37.4 %y/y
EBIT margin-39.1%
+21.6 ppy/y
Net income-6.1m USD
−28.9 %y/y
Free cash flow-7.7m USD
−0.5 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-10-5051015m USD2022: 0.89 m USD2022: EBIT -2.4 m USD20222023: 3.2 m USD2023: EBIT -3.5 m USD20232024: 6.4 m USD2024: EBIT -3.9 m USD20242025: 14 m USD2025: EBIT -5.4 m USD202514-5.4
RevenueOperating profit (EBIT)

Business

Share of revenue
Dried fruit products40 %

Shelf-stable fruit snacks and fruit-based products made using the company’s dehydration process.

Dried vegetable products25 %

Vegetable-based snack and ingredient products positioned around nutrition and convenience.

Superfood and specialty snacks15 %

Higher-value branded products marketed around functional nutrition and premium positioning.

Private-label and distributorship sales10 %

Products sold through third-party distributors, partners, or private-label arrangements.

Technology licensing and manufacturing support10 %

License and equipment-related arrangements tied to the company’s drying technology and production model.

Customers

BranchOut sells into a mix of consumer-facing and channel-based food customers, with products that can be purchased as snacks, ingredients, or private-label items. The company’s commercial agreements suggest it works with distributors and manufacturing partners rather than relying only on direct-to-consumer sales. End demand is likely driven by retailers, foodservice buyers, and consumers seeking shelf-stable, healthier snack alternatives with clean-label positioning. Its licensing and manufacturing relationships also indicate that some counterparties buy access to process know-how or production capacity, not just finished goods.

Retail and grocery channels

Buy finished dried fruit and vegetable snacks for resale because the products are shelf-stable and fit health-oriented snack assortments.

Distributors and wholesalers

Purchase product lots for channel distribution, helping the company scale beyond direct sales.

Private-label customers

Source products under their own brands to expand snack offerings without building production capability.

Food ingredient buyers

Use dried fruit and vegetable inputs in packaged foods, blends, or formulations where shelf life matters.

Technology and manufacturing partners

Engage for licensing, equipment, or production arrangements tied to the company’s proprietary drying process.

Strategy

BranchOut’s strategy appears centered on scaling a differentiated dried-food platform rather than competing as a commodity snack maker. The company is using partnerships, licensing, and facility agreements to expand production capacity while limiting the need to build every asset internally. Its emphasis on proprietary drying technology suggests a push to defend product quality, nutrition retention, and shelf-life advantages as commercial differentiators. Recent financing and equipment-related agreements indicate that management is still investing in capacity, commercialization, and operational readiness.

Expand manufacturing capacityShort term

The business needs reliable production scale to convert product demand into repeatable shipments and revenue.

Commercialize proprietary dried-food productsMedium term

Distinctive product quality and shelf-life are central to competing in premium snack and ingredient categories.

Broaden distribution relationshipsMedium term

Third-party channels can accelerate market access without requiring a large direct sales footprint.

Geography

Q1/2026

BranchOut is headquartered in the United States, but its operating model is international because key manufacturing and contractual relationships extend into Latin America. The report excerpts reference a Peru facility and agreements with Chilean counterparties, showing that production and supply-chain execution are not confined to the U.S. This structure can lower manufacturing costs and support access to agricultural inputs, but it also creates exposure to cross-border logistics, local regulation, and currency or political risk. Because the company appears to be early in scaling, geography is important not only for sales reach but also for securing reliable production capacity and supply.

United States100 %

Risks

BranchOut faces execution risk because it is still building scale, production infrastructure, and commercial traction at the same time. Its reliance on manufacturing partners and overseas facilities creates supply-chain, quality-control, and contract-renewal risk, especially if volumes do not ramp as expected. As a food company, it is also exposed to agricultural input volatility, food safety compliance, and customer concentration in a small number of channels or counterparties. Cross-border operations in Peru and Chile add currency, regulatory, and political risk, while the company’s financing needs may pressure dilution or increase leverage if commercialization takes longer than planned.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Reliance on partner manufacturing and licensing arrangements1Capital raising and dilution3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Reliance on partner manufacturing and licensing arrangementsImpact: HighLikelihood: Low

    The company does not appear to own a fully self-contained production base, so disruptions or renegotiations could affect supply and margins.

    ExposurePeru facilityNanuva agreementEnWave license
  2. Food safety and quality controlImpact: High

    Any contamination, spoilage, or product inconsistency could damage customer trust and trigger recalls or claims.

    Exposure: Dried fruit and vegetable products

  3. Capital raising and dilutionImpact: MediumLikelihood: High

    The company appears to be in an investment and scaling phase, which often requires repeated equity or debt financing.

    Exposure: Public-market financing and equipment purchases

  4. Cross-border operational and political riskImpact: Medium

    Production and contractual relationships in Latin America can be affected by local regulation, logistics, and currency movements.

    Exposure: Peru and Chile

Accounting

Judgemental items
Revenue recognition

The company may have multiple contract types, including product sales, distributorships, and licensing, each with different recognition timing.

Impact: Can shift reported revenue between periods and affect gross margin comparability.

Lease accounting

The Peru facility lease can create right-of-use assets and lease liabilities that affect leverage and operating expense presentation.

Impact: Impacts balance sheet size, EBITDA-like metrics, and cash flow classification.

Capitalized equipment and depreciation

Equipment purchases tied to scaling production require judgment on useful lives and impairment risk if utilization is low.

Impact: Affects depreciation expense and potential impairment charges.

Quarterly seasonality and shipment timing

Food production and customer orders may be uneven, especially for a company still ramping commercial volumes.

Impact: Creates volatility in revenue, inventory, and working capital.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

BranchOut Food Inc. (BOF) Revenue, Earnings & Financials 2025 – Clarifo