Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 34

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 34
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963)Change in fair value of interest rate swap contracts1,869 (2,331)4,200Lease guarantee income— (5,548)5,548 Income (loss) before income taxes(1,431)1,094 (2,525)Income tax expense (benefit)(411)1,418 (1,829)Net loss and comprehensive loss(1,020)(324)(696)Less: net income (loss) attributable to noncontrolling interests(591)353 (944)Net loss and comprehensive loss attributable to HF Foods Group Inc.$(429)$(677)$248 

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

Six Months Ended June 30,20252024Net revenue100.0 %100.0 %Cost of revenue82.7 %82.8 %Gross profit17.3 %17.2 %Distribution, selling and administrative expenses16.4 %16.8 %Income from operations0.9 %0.4 %Interest expense0.9 %1.0 %Other expense (income), net(0.1)%0.6 %Change in fair value of interest rate swap contracts0.3 %(0.4)%Lease guarantee income— %(0.9)%Income (loss) before income taxes(0.2)%0.1 %Income tax expense (benefit)(0.1)%0.2 %Net loss and comprehensive loss(0.1)%(0.1)%Less: net income (loss) attributable to noncontrolling interests(0.1)%0.1 %Net loss and comprehensive loss attributable to HF Foods Group Inc.— %(0.2)%

25

Net Revenue

Net revenue for the six months ended June 30, 2025 increased by $15.3 million, or 2.6%, 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 $106.1 million for the six months ended June 30, 2025 compared to $102.9 million in the same period in 2024, an increase of $3.2 million, or 3.