Barfresh Continues to Aggressively Add New Customers in the Education Channel

Barfresh Secures 443 New School Customer Locations Across Multiple States, Serving Barfresh Products to Over 360,000 Students

Customer Growth Acceleration Fuels Company’s Projected Record Fiscal Year 2024 Revenue and Year Over Year Margin Expansion

LOS ANGELES, May 07, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, reinforced its education channel sales momentum today by announcing new multi-state customer wins, broadening its reach in this key market. The Company recently secured 443 new school locations, representing a collective population of over 360,000 students. These new school locations plan to introduce a varied selection of the Company’s products, including its Twist & Go carton and bottled smoothie products, 5:1 100% juice concentrates and 1:1 bulk easy pour smoothie concentrates to their students starting in fall 2024 for the 2024-2025 school year. Over the past two weeks, Barfresh has announced over 2,600 new customer school locations, representing close to two million students, that will be served a range of the Company’s products either on their breakfast menus or a la carte menus. With numerous bids in the education channel currently underway, the Company anticipates announcing a significant number of new customer wins before the 2024-2025 school year commences.

Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “Our education business is experiencing continued momentum, highlighted by this latest string of significant new school customer wins across multiple states and districts. Securing these latest wins showcases the tremendous appeal of our healthy portfolio of products tailored for the education channel's unique needs. We have a robust acquisition pipeline in progress with numerous bids underway and expect to have many more schools signed on to serve Barfresh’s products before the fall. The acceleration in customer wins positions us to achieve record revenue and year over year margin expansion in fiscal year 2024. While pleased with our robust near-term growth trajectory, we’re even more enthusiastic about the long-term runway ahead fueled by our expanded sales broker network, the recent hiring of Vice President of Supply Chain & Co-Manufacturing, the expected introduction of new products and the expected onboarding of a new large bottle co-manufacturer.”