Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 9

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 9
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4 and for interim periods beginning in 2025. See Note 14 - Segment Information in the accompanying notes to the condensed consolidated financial statements for further detail.

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Note 3 - RevenueThe following table presents the Company’s net revenue disaggregated by principal product categories:Three Months Ended September 30,Nine Months Ended September 30,($ in thousands)2025202420252024Seafood$108,752 35 %$98,826 33 %$326,407 35 %$292,751 33 %Meat and Poultry70,072 23 %64,538 21 %207,866 23 %186,080 21 %Asian Specialty52,826 17 %74,269 25 %170,930 18 %231,971 26 %Produce27,829 9 %31,670 11 %83,346 9 %95,924 10 %Packaging and Other13,912 5 %15,797 5 %43,012 5 %47,816 5 %Commodity33,587 11 %13,289 5 %88,698 10 %41,843 5 %Total$306,978 100 %$298,389 100 %$920,259 100 %$896,385 100 %

Note 4 - Balance Sheet ComponentsAccounts receivable, net consisted of the following:(In thousands)September 30, 2025December 31, 2024Accounts receivable$54,724 $55,664 Less: allowance for expected credit losses(1,199)(1,557)Accounts receivable, net$53,525 $54,107 Movement of allowance for expected credit losses was as follows:Nine Months Ended September 30,(In thousands)20252024Beginning balance$1,557 $2,119 Provision (credit) for expected credit losses(357)(40)Bad debt write-offs(1)(2)Ending balance$1,199 $2,077 Prepaid expenses and other current assets consisted of the following:(In thousands)September 30, 2025December 31, 2024Prepaid expenses$3,652 $4,443 Advances to suppliers2,350 5,606 Other current assets414 1,458