Freshpet, Inc. reported a net loss of $12.7 million for the first quarter ended March 31, 2025, a decline from a net income of $18.6 million in the prior year period. This loss was primarily driven by increased selling, general, and administrative (SG&A) expenses, including $16.9 million in non-recurring charges.
The non-recurring charges included an accounts receivable write-off from a distributor liquidation, an accrual for legal obligations related to ongoing litigation with Phillips, and termination costs from a change in international go-to-market strategy. Despite these challenges, net sales increased by 17.6% to $263.2 million, primarily due to 14.9% volume gains, and Adjusted EBITDA grew to $35.5 million.
Freshpet updated its full-year 2025 net sales guidance to a range of $1.14 billion to $1.17 billion, representing 17% to 20% year-over-year growth, a reduction from its previous forecast of $1.18 billion to $1.21 billion. The company maintained its Adjusted EBITDA guidance of $190 million to $210 million, but the lowered sales outlook reflects adaptation to current macroeconomic headwinds and consumer uncertainty.
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