Freshpet (FRPT) FY2018 results: revenue $193 million, up 26.8% on the year
Freshpet, Inc. (FRPT) reported revenue of $193 million for fiscal 2018, the year ended 31 December 2018, up 26.8% on the year before. Net income was -$5 million, and diluted earnings per share $-0.15. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$193 million
+26.8% on the year
FY2012FY2018
Operating margin
-2.5%
-1.8% a year earlier
FY2012FY2018
Net income
-$5 million
FY2012FY2018
Diluted EPS
-$0.15
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
193
152
130
+26.8%
Cost of revenue
103
79.9
69.3
+29.2%
Gross profit
90.0
72.4
60.4
+24.3%
Gross margin
46.6%
47.5%
46.5%
Research and development
0.5
0.3
0.5
+75.7%
Selling, general and administrative
94.9
75.2
62.6
+26.2%
Operating income
-4.9
-2.8
-2.2
Operating margin
-2.5%
-1.8%
-1.7%
Interest expense
0.3
0.9
0.7
-67.5%
Pre-tax income
-5.3
-4.2
-3.1
Income tax
0.1
0.1
0.1
+2.5%
Net income
-5.4
-4.3
-3.2
Net margin
-2.8%
-2.8%
-2.4%
Diluted EPS
-$0.15
-$0.12
-$0.09
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
18.6
10.3
12.8
+80.9%
Capital expenditure
16.3
13.0
30.0
+25.1%
Free cash flow
2.3
-2.7
-17.2
Free cash flow margin
1.2%
-1.8%
-13.2%
Cash from investing
-16.3
-13.0
-26.7
Cash from financing
3.1
1.0
9.8
+204.0%
Depreciation and amortisation
13.8
12.7
9.9
+8.7%
Share-based compensation
6.8
4.4
4.2
+53.4%
Buybacks
0.3
n/a
n/a
Diluted shares, weighted
35m
34m
34m
+2.4%
Shares outstanding at period end
36m
35m
34m
+1.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
121
117
108
+3.9%
Debt
0.0
0.0
7.0
Other liabilities
18.5
17.0
11.7
+8.8%
Total liabilities and equity
140
134
126
+4.5%
Fixed assets
102
101
101
+1.5%
Cash and equivalents
7.6
2.2
3.9
+245.9%
Receivables
12.3
12.7
8.9
-3.1%
Inventory
9.3
10.1
5.4
-7.9%
Other assets
8.7
8.3
6.8
+4.8%
Total assets
140
134
126
+4.5%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.