Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 33

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 33
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760)(1,254)494Net loss and comprehensive loss(874)(3,837)2,963 Less: net income attributable to noncontrolling interests242 103 139Net loss and comprehensive loss attributable to HF Foods Group Inc.$(1,116)$(3,940)$2,824 

The following table sets forth the components of our consolidated results of operations expressed as a percentage of net revenue for the periods indicated:

Three Months Ended September 30,20252024Net revenue100.0 %100.0 %Cost of revenue83.6 %83.2 %Gross profit16.4 %16.8 %Distribution, selling and administrative expenses16.1 %16.6 %Income from operations0.3 %0.2 %Interest expense1.0 %0.9 %Other income, net(0.1)%(0.1)%Change in fair value of interest rate swap contracts— %1.1 %Loss before income taxes(0.6)%(1.7)%Income tax benefit(0.2)%(0.4)%Net loss and comprehensive loss(0.4)%(1.3)%Less: net income attributable to noncontrolling interests0.1 %— %Net loss and comprehensive loss attributable to HF Foods Group Inc.(0.5)%(1.3)%

Net Revenue

22

Net revenue for the three months ended September 30, 2025 increased by $8.6 million, or 2.9%, compared to the same period in 2024. The increase was primarily attributable to volume increases and improved pricing in Meat & Poultry and Seafood, offset by a slight decrease in volume within other categories. 

Gross Profit

Gross profit was $50.4 million for three months ended September 30, 2025 compared to $50.2 million in the same period in 2024, an increase of $0.2 million, or 0.5%. The increase was primarily attributable to an increase in volume and improved pricing during the quarter. Gross profit margin for the three months ended September 30, 2025 of 16.4% remained relatively consistent compared to 16.8% in the same period in 2024 due to an increased proportion of sales from lower margin products, particularly Seafood. 

Distribution, Selling and Administrative Expenses

Distribution, selling and administrative expenses decreased by $0