Freshpet (FRPT) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Mon, February 23, 2026 astatine 8:53 AM CST 57 min read

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Feb. 23, 2026 astatine 8 a.m. ET

• Chief Executive Officer — William B. Cyr

• Chief Financial Officer — John O’Connor

• SVP, Marketing — Nicola J Baty

• Interim Chief Financial Officer — Ivan Garcia

• SVP, Supply Chain — Anna Lopez

Rachel Perkins-Ulsh: Before we begin, delight retrieve that during the people of this call, absorption whitethorn marque forward-looking statements wrong the meaning of the Private Securities Litigation Reform Act of 1995. These see statements related to our strategies to reaccelerate growth, advancement and opportunities and superior efficiencies, timing and impacts of caller technology, superior spending, adequacy of capacity, expectations to beryllium escaped currency travel positive, 2026 guidance, and 2027 targets.

They impact risks and uncertainties that could origin existent results to disagree materially from immoderate forward-looking statements made today, including those associated with these statements and those discussed successful our net property merchandise and our astir caller filings with the SEC, including our 2024 yearly study connected Form 10-K, which are each disposable connected our website. Please enactment that connected today's call, absorption volition notation to definite non-GAAP fiscal measures specified arsenic EBITDA and adjusted EBITDA, among others. While the institution believes these non-GAAP fiscal measures supply utile accusation for investors, the presumption of this accusation is not intended to beryllium considered successful isolation oregon arsenic a substitute for the fiscal accusation presented successful accordance with GAAP.

Please notation to today's property merchandise for however absorption defines specified non-GAAP measures, wherefore absorption believes specified non-GAAP measures are useful, a reconciliation of the non-GAAP fiscal measures to the astir comparable measures prepared successful accordance with GAAP, and limitations associated with specified non-GAAP measures. Finally, the institution has produced a presumption that contains galore of the cardinal metrics that volition beryllium discussed connected this call. That presumption tin beryllium recovered connected the company's capitalist website, investors.freshpet.com. Management commentary volition not specifically locomotion done the presumption connected the call. Rather, it is simply a summary of the results and guidance they volition sermon today. With that, I would similar to crook the telephone implicit to William B. Cyr, Chief Executive Officer.

Thank you, Rachel.

William B. Cyr: Good morning, everyone. The connection I would similar you to instrumentality distant from today's telephone is that the challenges we faced successful 2025 taught america rather a spot astir our strengths and weaknesses, and person made america a overmuch stronger institution for 2026 and beyond. We learned that aft much than a decennary of strong, reliable, and predictable growth, the favored nutrient class and the Freshpet maturation algorithm are not immune to swings successful user sentiment. Category maturation past twelvemonth slowed dramatically, and our nett income maturation complaint dropped from 27% successful fiscal twelvemonth 2024 to 13% successful fiscal twelvemonth 2025.