Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 24

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 24
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 statements of operations and comprehensive loss. As of September 30, 2025, there was $4.1 million of total unrecognized compensation cost related to all non-vested outstanding RSUs and PSUs outstanding under the 2018 Incentive Plan, with a weighted average remaining service period of 2.04 years.

Note 14 - Segment InformationThe Company’s business consists of one operating segment, which is also its one reportable segment. The Company operates solely in the United States and derives revenues by providing sales of food and non-food to customers. The segment’s customer base consists primarily of Asian restaurants located throughout the United States. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net (loss) income to assess financial performance and allocate resources. The Company’s measure of segment assets is total assets, as reported on the condensed consolidated balance sheets. 

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The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,(In thousands)2025202420252024Net Revenue$306,978 $298,389 $920,259 $896,385 Less:Cost of Revenue256,569 248,226 763,759 743,346 Operating Expenses:Payroll and related labor costs23,625 24,766 74,047 73,835 Professional fees1,209 1,885 5,937 8,698 Depreciation3,249 2,596 9,378 7,722 Amortization4,001 4,070 11,891 12,210 Other segment expenses (a)17,205 16,335 48,854 47,523 Distribution, selling and administrative expenses49,289 49,652 150,107 149,988 Interest expense2,941 2,644 8,367 8,597 Other (income) expense, net(234)(332)(825)3,040 Change in fair value of interest rate swap contracts47 3,290 1,916 959 Lease guarantee income— — — (5,548)Income tax expense (benefit)(760)(1,254)(1,171