Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 100

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 100
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 (income), net(825)3,040 (3,865)Change in fair value of interest rate swap contracts1,916 959 957Lease guarantee income— (5,548)5,548 Loss before income taxes(3,065)(3,997)932 Income tax expense (benefit)(1,171)164 (1,335)Net loss and comprehensive loss(1,894)(4,161)2,267 Less: net income (loss) attributable to noncontrolling interests(349)456 (805)Net loss and comprehensive loss attributable to HF Foods Group Inc.$(1,545)$(4,617)$3,072 

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

Nine Months Ended September 30,20252024Net revenue100.0 %100.0 %Cost of revenue83.0 %82.9 %Gross profit17.0 %17.1 %Distribution, selling and administrative expenses16.3 %16.7 %Income from operations0.7 %0.4 %Interest expense0.9 %1.0 %Other expense (income), net(0.1)%0.3 %Change in fair value of interest rate swap contracts0.2 %0.1 %Lease guarantee income— %(0.6)%Loss before income taxes(0.3)%(0.4)%Income tax expense (benefit)(0.1)%— %Net loss and comprehensive loss(0.2)%(0.4)%Less: net income (loss) attributable to noncontrolling interests— %0.1 %Net loss and comprehensive loss attributable to HF Foods Group Inc.(0.2)%(0.5)%

24

Net Revenue

Net revenue for the nine months ended September 30, 2025 increased by $23.9 million, or 2.7%, compared to the same period in 2024. This increase was primarily attributable to volume growth and improved pricing in Commodity, Meat & Poultry and Seafood, partially offset by decrease in volume within other categories.

Gross Profit

Gross profit was $156.5 million for the nine months ended September 30, 2025 compared to $153.0 million in the same period in 2024, an increase of