Income Statement for BRLS

	Borealis Foods Inc. (BRLS)
	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014	Q1-CY2014	Q4-CY2013
Balance Sheet Date		2025-Sep-30	2025-Jun-30	2025-Mar-31	2024-Dec-31	2024-Sep-30	2024-Jun-30	2024-Mar-31	2023-Dec-31
Fiscal Period		Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023
Total Revenue		7,364,072$	7,575,869$	7,224,957$	7,064,106$	8,075,788$	5,476,476$	8,484,021$	7,507,036$	8,264,745$	6,826,725$	8,778,540$
QoQ%		(2.80%)	4.86%	2.28%	(12.53%)	47.46%	(35.45%)	13.01%	(9.17%)	21.07%	(22.23%)
YoY%		(8.81%)	38.34%	(14.84%)	(5.90%)	(2.29%)	(19.78%)	(3.36%)
Cost Of Revenue		6,063,191$	6,673,384$	5,945,868$	6,812,761$	6,414,629$	4,902,958$	7,652,860$	6,950,398$	8,741,544$	7,865,796$	9,123,027$
Gross Profit		1,040,558$	514,885$	899,802$	251,345$	1,273,270$	422,322$	242,573$	556,638$	(476,799$)	(1,039,071$)	(344,487$)
Gross Margin		14.13%	6.80%	12.45%	3.56%	15.77%	7.71%	2.86%	7.42%	(5.77%)	(15.22%)	(3.92%)
Operating Expenses		2,965,415$	3,870,887$	3,816,920$	4,872,911$	4,894,318$	5,611,669$	7,215,588$	5,070,548$	3,946,187$	5,409,066$	4,219,631$
Operating Income		(1,924,857$)	(3,356,002$)	(2,917,118$)	(4,621,566$)	(3,621,048$)	(5,189,347$)	(6,973,015$)	(4,513,910$)	(4,422,986$)	(6,448,137$)	(4,564,118$)
Operating Margin		(26.14%)	(44.30%)	(40.38%)	(65.42%)	(44.84%)	(94.76%)	(82.19%)	(60.13%)	(53.52%)	(94.45%)	(51.99%)
Interest Income
Interest Expenses		1,855,028$	1,227,916$	1,259,423$		1,207,524$	1,098,783$	1,458,607$				1,530,581$
Income Before Tax		(3,780,821$)	(4,586,139$)	(4,187,588$)	(5,915,516$)	(4,831,337$)	(6,283,624$)	(8,431,622$)	(7,007,694$)	(6,585,101$)	(8,286,779$)	(5,935,704$)
Tax Expenses		0$	13,987$		(149,849$)	832$	14,116$		(351,123$)	0$	15,216$	(124$)
Net Income		(3,780,821$)	(4,600,126$)	(4,187,588$)	(5,765,667$)	(4,832,169$)	(6,297,740$)	(8,431,622$)	(6,656,571$)	(6,585,101$)	(8,301,995$)	(5,935,580$)
Profit Margin		(51.34%)	(60.72%)	(57.96%)	(81.62%)	(59.84%)	(115.00%)	(99.38%)	(88.67%)	(79.68%)	(121.61%)	(67.62%)
TTM		(62.73%)	(64.75%)	(75.73%)	(87.03%)	(88.75%)	(94.08%)	(96.44%)	(87.58%)
Earnings to Minority					19,561,531$				20,822,676$
Earnings to Common Shareholders		(3,780,821$)	(4,600,126$)	(4,187,588$)	(25,327,198$)	(4,832,169$)	(6,297,740$)	(8,431,622$)	(27,479,247$)	(6,585,101$)	(8,301,995$)	(5,935,580$)
QoQ%		17.81%	(9.85%)	83.47%	(424.14%)	23.27%	25.31%	69.32%	(317.29%)	20.68%	(39.87%)
YoY%		21.76%	26.96%	50.34%	7.83%	26.62%	24.14%	(42.05%)
Earnings Per Share, Basic		(0.18$)	(0.21$)	(0.20$)	(1.25$)	(0.23$)	(0.29$)	(0.49$)	(2.56$)	(0.61$)	(0.77$)	(0.55$)
Earnings Per Share, Diluted		(0.18$)	(0.21$)	(0.20$)	(1.25$)	(0.23$)	(0.29$)	(0.49$)	(2.56$)	(0.61$)	(0.77$)	(0.55$)
Unlevered FCF Per Share, Basic		(0.01$)	(0.10$)	(0.06$)	(0.05$)	(0.17$)	(0.22$)	(0.43$)	(0.27$)	(0.51$)	(0.67$)	(0.64$)
Unlevered FCF Per Share, Diluted		(0.01$)	(0.10$)	(0.06$)	(0.05$)	(0.17$)	(0.22$)	(0.43$)	(0.27$)	(0.51$)	(0.67$)	(0.64$)
Average Shares, Basic		21,463,415	21,407,493	21,379,347	20,309,934	21,378,890	21,378,890	17,079,576	10,750,060	10,731,583	10,731,583	10,731,583
Average Shares, Diluted		21,463,415	21,407,493	21,379,347	20,309,934	21,378,890	21,378,890	17,079,576	10,750,060	10,731,583	10,731,583	10,731,583
EBIT		(1,925,793$)	(3,358,223$)	(2,928,165$)	(5,915,516$)	(3,623,813$)	(5,184,841$)	(6,973,015$)	(7,007,694$)	(6,585,101$)	(8,286,779$)	(4,405,123$)
EBITDA		(517,793$)	(2,884,349$)	(2,447,165$)	(5,452,899$)	(1,762,813$)	(4,789,841$)	(5,979,015$)	(6,009,137$)	(5,588,101$)	(7,324,779$)	(3,443,167$)