Borealis Foods Inc. (BRLSW) Financial Statements (2026 and earlier)
Company Profile
| Business Address |
1540 CORNWALL RD. #104 OAKVILLE, ON L6J 7W5 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 20 - Food And Kindred Products (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 653 | 90 | 681 | 1,123 | |||
| Cash and cash equivalent | 653 | 90 | 681 | 1,123 | |||
| Receivables | 1,966 | ||||||
| Inventory, net of allowances, customer advances and progress billings | 8,046 | ||||||
| Inventory | 8,046 | ||||||
| Prepaid expense | 30 | 236 | 313 | ||||
| Other undisclosed current assets | 1,135 | 3 | |||||
| Total current assets: | 11,800 | 123 | 917 | 1,436 | |||
| Noncurrent Assets | |||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1,390 | ||||||
| Operating lease, right-of-use asset | 64 | ||||||
| Property, plant and equipment | 38,601 | ||||||
| Intangible assets, net (including goodwill) | 2,237 | ||||||
| Goodwill | 1,917 | ||||||
| Intangible assets, net (excluding goodwill) | 319 | ||||||
| Prepaid expense | 96 | ||||||
| Asset, held-in-trust | 21,921 | 178,533 | 175,954 | ||||
| Other noncurrent assets | 170 | ||||||
| Other undisclosed noncurrent assets | 5,745 | ||||||
| Total noncurrent assets: | 48,207 | 21,921 | 178,533 | 176,050 | |||
| TOTAL ASSETS: | 60,006 | 22,044 | 179,450 | 177,486 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities, including: | 11,530 | 3,432 | 843 | 235 | |||
| Accrued liabilities | 3,432 | 843 | 235 | ||||
| Other undisclosed accounts payable and accrued liabilities | 11,530 | ||||||
| Debt | 5,996 | ||||||
| Other liabilities | 7,826 | ||||||
| Due to related parties | ✕ | ✕ | ✕ | 1,659 | |||
| Other undisclosed current liabilities | 55 | 4,055 | |||||
| Total current liabilities: | 25,406 | 7,487 | 2,501 | 235 | |||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 26,222 | ||||||
| Long-term debt, excluding current maturities | 25,078 | ||||||
| Finance lease, liability | 1,144 | ||||||
| Liabilities, other than long-term debt | 9,074 | ||||||
| Deferred income tax liabilities | 1,460 | ||||||
| Other liabilities | 7,602 | ||||||
| Operating lease, liability | 12 | ||||||
| Total noncurrent liabilities: | 35,295 | ||||||
| Total liabilities: | 60,702 | 7,487 | 2,501 | 235 | |||
| Temporary equity, including noncontrolling interest | 21,921 | 178,533 | 175,950 | ||||
| Equity | |||||||
| Equity, attributable to parent, including: | (696) | (7,365) | (1,584) | 1,301 | |||
| Common stock | 0 | 0 | |||||
| Additional paid in capital | 90,097 | 1,708 | |||||
| Accumulated deficit | (90,793) | (7,365) | (1,585) | (408) | |||
| Other undisclosed equity, attributable to parent | 0 | 0 | 0 | ||||
| Total equity: | (696) | (7,365) | (1,584) | 1,301 | |||
| TOTAL LIABILITIES AND EQUITY: | 60,006 | 22,044 | 179,450 | 177,486 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|---|
| Revenues | 27,669 | |||||
| Cost of revenue (Cost of Product and Service Sold) | (25,479) | (120) | (120) | |||
| Other undisclosed gross profit | 176,070 | 172,500 | ||||
| Gross profit: | 2,190 | (120) | 175,950 | 172,500 | ||
| Operating expenses | (22,594) | (5,131) | (2,887) | (428) | ||
| Other undisclosed operating income (loss) | 120 | (175,950) | (172,500) | |||
| Operating loss: | (20,405) | (5,131) | (2,887) | (428) | ||
| Nonoperating income (expense) | (5,057) | 2,190 | 1 | |||
| Investment income, nonoperating | 2,207 | |||||
| Gain (loss), foreign currency transaction, before tax | 4 | (17) | 1 | |||
| Other nonoperating expense | ||||||
| Interest and debt expense | (5,061) | |||||
| Loss from continuing operations before income taxes: | (30,523) | (2,941) | (2,886) | (428) | ||
| Income tax benefit | 135 | |||||
| Loss from continuing operations: | (30,388) | (2,941) | (2,886) | (428) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (428) | |
| Other undisclosed net income | 21 | |||||
| Net loss: | (30,388) | (2,941) | (2,886) | (408) | ||
| Other undisclosed net income attributable to parent | 5,061 | 2,583 | ||||
| Net loss attributable to parent: | (25,327) | (2,941) | (303) | (408) | ||
| Preferred stock dividends and other adjustments | 2,839 | 17,847 | ||||
| Net income (loss) available to common stockholders, diluted: | (25,327) | (103) | (303) | 17,440 | ||
Comprehensive Income ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|---|
| Net loss: | (30,388) | (2,941) | (2,886) | (408) | ||
| Comprehensive loss, net of tax, attributable to parent: | (30,388) | (2,941) | (2,886) | (408) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.