Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 53

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 53
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149,988 119 Income from operations6,393 3,051 3,342 Interest expense8,367 8,597 (230)Other expense (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