Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 78

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 78
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 in the Credit Agreement) from $100.0 million to $125.0 million, (ii) joining three new subsidiaries of the Company to the Credit Agreement, each as a “Borrower” thereunder, (iii) joining Wells Fargo Bank, N.A. to the credit agreement as a “Lender” thereunder, (iv) amending certain affirmative covenants commensurate with the increase in the Revolving Facility, and (v) amending certain restrictions regarding incurring obligations under real property leases and equipment financings in the ordinary course of business.As of June 30, 2025, the Company was in compliance with its covenants. The outstanding principal balance on the line of credit as of June 30, 2025 was $60.8 million and outstanding letters of credit amounted to $6.4 million leaving access to approximately $57.8 million in additional funds through our $125.0 million line of credit, subject to a borrowing base calculation.

Note 9 - Earnings (Loss) Per ShareThe Company computes earnings per share (“EPS”) in accordance with ASC Topic 260 (“ASC 260”), Earnings per Share. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net (loss) income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS, but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options, warrants and restricted stock) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. There were 1,305,105 and 1,354,908 potential common shares related to performance-based restricted stock units and restricted stock units that were excluded from the calculation of diluted EPS for the six months ended June 30, 2025 and 2024, respectively, because their effect could have been anti-dilutive.The following table sets forth the computation of basic and diluted EPS:Three Months Ended June 30,Six Months Ended June 30,($ in thousands, except share and per share data)2025202420252024Numerator:Net income (loss) attributable to HF Foods Group Inc.$1,216 $17 $(429)$(677)