Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 476

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 476
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    2023  
    (Decrease) 

    Net revenue 
    $6,516,337  
    $2,825,855  
    $3,690,482 
  
    Cost of goods sold 
     5,652,717  
     2,922,085  
     2,730,632 
  
    Gross
    profit (loss) 
     863,620  
     (96,230) 
     959,850 

    Operating expenses: 

    General and administrative 
     1,870,720  
     1,581,474  
     289,246 
  
    Salaries and benefits 
     1,604,200  
     1,129,858  
     474,342 
  
    Professional
    services 
     1,291,141  
     694,596  
     596,545 
  
    Total
    operating expenses 
     4,766,061  
     3,405,928  
     1,360,133 

    Operating loss 
     (3,902,441) 
     (3,502,158) 
     400,283 

    Other income (expense): 

    Interest income 
     14,156  
     11,719  
     2,437 
  
    Interest
    expense 
     (863,231) 
     (435,271) 
     427,960 
  
    Total
    other income (expense) 
     (849,075) 
     (423,552) 
     425,523 

    Net loss 
    $(4,751,516) 
    $(3,925,710) 
    $825,806 

Net
Revenue

Our
net revenue for the year ended December 31, 2024 was $6,516,337, compared to $2,825,855 for the year ended December 31, 2023, an
increase of $3,690,482, or 131%. The increase in revenue was primarily due to increased sales to our largest customer during the year
ended December 31, 2024.

Cost
of Goods Sold and Gross Profit (Loss)

Our
cost of goods sold for the year ended December 31, 2024 was