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BranchOut Food

BOF
26
Packaged Foods · Consumer Defensive
Price
$3.86
-0.14 (-3.50%)
Market Cap
$56.3M
Exchange
NASDAQ Capital Market
Winston Score
26
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available

Share count rising — dilution

+859.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.1M (2021) → 10.7M (2025)

Winston Score History

The full picture

BranchOut Food Inc. is a small food company that takes fruits and vegetables and dries them using a low-temperature process to preserve nutrients and flavor. Its main products are dried fruit and vegetable snacks and ingredients sold to food manufacturers, retailers, and consumers. The company positions itself around its proprietary dehydration technology, which it claims produces a higher-quality dried product than conventional methods.

BranchOut makes money by selling its dried food products directly and by licensing or supplying ingredients to other food brands. It operates primarily in North America and is a very small company with a market cap around $100 million. The thin gross margin of roughly 14% and deeply negative operating margin signal that the business is spending far more than it earns, which is the central risk — the company must significantly grow revenue and cut costs to reach profitability before it runs out of cash.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+35.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-5.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$269,994/ year

Rising (+1386% vs prior year)

2.0% of revenue

In line with sector average (2%)

R&D investment increasing — building for the future

Insider Activity

15.9%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~1 months

$885,050 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

BranchOut Food is growing revenue at 35% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
2.2%
Thin — 2.2% gross margin
Profit after running costs
Operating Margin
-57.5%
Losing money on operations — -57.5%
Return on the money invested
ROCE
-115.7%
Weak — -115.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+40.4%
Fast-growing sales (+40.4% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-62.4%
Burning cash (-62.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.38
Conservative — low debt load (0.38)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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