Borealis Foods has announced progress on its strategic initiatives, securing new manufacturing partnerships with global food companies to increase production capacity utilisation at its facility in Saluda, South Carolina. The partnerships are designed to support the expanded rollout of the company's newer products across the United States and Canada.
According to the company, these agreements will help maximise the output of its manufacturing infrastructure, with revenues and margins expected to improve over the coming quarters as production ramps up through 2026.
Brand Portfolio and Production
The manufacturing expansion supports Borealis Foods' core business of developing and commercialising protein-based noodle and ramen products. The company’s portfolio of consumer packaged goods is distributed across several distinct brands:
🍜 Chef Woo: A protein-rich ramen brand.
👨🍳 Chef Ramsay: A collaborative noodle line.
📦 Ramen Express: An affordable noodle brand.
🍝 Woodles: A novel noodle product line.
Reza Soltanzadeh, Chief Executive Officer of Borealis Foods, stated that demand for the company's products remains healthy, particularly within its higher-margin, protein-rich categories. Soltanzadeh noted that the company's significant manufacturing capacity has enabled it to enter into strategic partnerships with global food brands to help maximise the utilisation of the Saluda facility.
Financial Performance and Debt Refinancing
The operational update follows the release of the company's financial results for the first quarter ended 31 March 2026. During this period, Borealis Foods recorded several key financial improvements:
Revenue Growth: An 8% increase in net revenue year-on-year.
Operating Loss Reduction: A 29.3% improvement in loss from operations compared with the prior-year period.
Expense Management: A 24% reduction in selling, general, and administrative (SG&A) expenses.
Cash Flow Improvement: A 91% improvement in net cash used in operating activities.
Subsequent to the end of the first quarter, Borealis Foods refinanced its primary secured debt. This transaction eliminated a previously scheduled balloon maturity in August 2026 and extended the final maturity date to April 2031. The refinancing is intended to strengthen the company’s balance sheet as it seeks to scale institutional production volume and improve margins.
Nasdaq Listing Compliance Status
Borealis Foods has also addressed a compliance notice received from The Nasdaq Stock Market LLC on 8 July 2026. The notice, which regards the minimum Market Value of Listed Securities requirement for continued listing on The Nasdaq Capital Market, has no immediate effect on the listing or trading of the company's common shares or warrants.
The company has been given until 29 December 2026 to regain compliance with the listing standard and has confirmed its intention to resolve the matter within the designated period.
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