HF Foods Group Inc.

Listed Company

HFFGCIK 0001680873NasdaqAcceleratedSmaller ReportingWholesale-Groceries & Related ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.23B

Net Income

$-38.84M

Total Assets

$541.53M

Equity

$202.05M

Shares Out

53.04M

Op. Cash Flow

$25.48M

Business

HF Foods Group Inc. is a marketer and distributor of fresh produce, frozen and dry food, and non-food products to Asian restaurants and other foodservice customers throughout the United States. It offers a broad product portfolio and services including meat and poultry, fresh produce, frozen seafood, Asian specialty ingredients, general commodities, packaging, order-taking and logistics support. The company operates distribution, procurement and warehousing functions supported by a centralized inventory system and outsourced sales call centers. HF Foods serves the contiguous U.S. via regional distribution centers, cross-docks, a temperature-controlled delivery fleet and import channels from North America, South America and Asia.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
TOTAL NET REVENUE	1,228	1,202	1,148	1,170	797
TOTAL COST OF REVENUE	1,021	996	944	965	645
GROSS PROFIT	208	205	204	206	152
Distribution, selling and administrative expenses	202	198	195	195	122
Goodwill impairment charges	39	46	0	0	0
LOSS FROM OPERATIONS	−33	−39	9	11	29
Interest expense	11	11	11	7	—
Other (income) expense, net	−1	3	−1	−2	−508,000
Change in fair value of interest rate swap contracts	2	−2	2	−817,000	−1
Lease guarantee income	0	−6	−377,000	6	—
LOSS BEFORE INCOME TAXES	−45	−46	−3	4,000	27
Income tax (benefit) expense	−6	2	41,000	−231,000	5
NET LOSS AND COMPREHENSIVE LOSS	−39	−48	−3	235,000	23
Less: net (loss) income attributable to noncontrolling interests	−468,000	409,000	−488,000	−225,000	676,000
NET LOSS AND COMPREHENSIVE LOSS ATTRIBUTABLE TO HF FOODS GROUP INC.	−39	−49	−2	460,000	22
(LOSS) EARNINGS PER COMMON SHARE - BASIC (in USD per share)	−0.73	−0.92	−0.04	0.01	0.43
(LOSS) EARNINGS PER COMMON SHARE - DILUTED (in USD per share)	−0.73	−0.92	−0.04	0.01	0.43
WEIGHTED AVERAGE SHARES - BASIC (in shares)	53	53	54	54	52
WEIGHTED AVERAGE SHARES - DILUTED (in shares)	53	53	54	54	52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	9	14	15	24	15
Inventories	107	98	106	120	103
Prepaid expenses and other current assets	10	12	10	9	6
Assets held for sale	3	0	—	—	—
TOTAL CURRENT ASSETS	194	178	179	198	160
Property and equipment, net	163	150	133	140	146
Operating lease right-of-use assets	26	14	13	14	12
Long-term investments	2	2	2	3	2
Customer relationships, net	126	137	147	158	159
Trademarks, trade names and other intangibles, net	25	25	31	36	36
Goodwill	0	39	85	85	80
Other long-term assets	4	6	7	3	2
TOTAL ASSETS	542	550	597	638	597
Checks issued not presented for payment	2	6	4	22	18
Line of credit	56	57	59	53	55
Current portion of long-term debt, net	7	5	5	6	6
Current portion of obligations under finance leases	6	4	2	2	2
Current portion of obligations under operating leases	4	4	4	4	2
Accrued expenses and other liabilities	15	18	17	20	12
TOTAL CURRENT LIABILITIES	165	145	143	164	155
Long-term debt, net of current portion	99	103	109	115	82
Obligations under finance leases, non-current	25	20	11	11	12
Obligations under operating leases, non-current	23	10	9	11	9
Deferred tax liabilities	24	29	29	34	39
Other long-term liabilities	2	728,000	7	5	—
TOTAL LIABILITIES	338	309	309	341	302
COMMITMENTS AND CONTINGENCIES (Note 17)	—	—	—	—	—
Preferred Stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common Stock, $0.0001 par value; 100,000,000 shares authorized; 55,041,255 and 54,735,073 shares issued and 53,043,832 and 52,737,650 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	5,000	5,000	5,000	5,000	5,000
Treasury stock, at cost; 1,997,423 shares as of December 31, 2025 and December 31, 2024	−8	−8	−8	0	—
Additional paid-in capital	606	604	603	598	597
Accumulated deficit	−396	−357	−309	−307	−306
TOTAL SHAREHOLDERS EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC.	202	239	287	292	291
Noncontrolling interests	2	2	1	4	4
TOTAL SHAREHOLDERS EQUITY	204	241	288	296	294
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	542	550	597	638	597

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	28	27	26	25	19
Gain from disposal of property and equipment	−115,000	−12,000	−362,000	−1	−2
Credit for expected credit losses	−357,000	−103,000	701,000	82,000	−433,000
Deferred tax (benefit) expense	−6	364,000	−5	−5	−7
Change in fair value of interest rate swap contracts	2	−2	2	817,000	−1
Stock-based compensation	2	2	3	1	635,000
Non-cash lease expense	5	4	4	4	861,000
Other non-cash (income) expense	−280,000	1	493,000	−266,000	−85,000
Accounts receivable	−11	−6	−4	−9	−11
Accounts receivable - related parties	−307,000	10,000	−95,000	36,000	1
Inventories	−9	8	15	−4	−19
Prepaid expenses and other current assets	2	−1	−1	−4	−944,000
Other long-term assets	967,000	942,000	−3	−1	−1
Checks issued not presented for payment	−4	1	−17	4	3
Accounts payable	24	−1	−4	15	13
Accounts payable - related parties	332,000	−345,000	−1	−412,000	−365,000
Operating lease liabilities	−4	−4	−4	−4	−724,000
Accrued expenses and other liabilities	−3	714,000	−2	7	4
Net cash provided by operating activities	25	23	−2	35	18
Purchase of property and equipment	−19	−13	−4	−6	−2
Proceeds from sale of property and equipment	206,000	48,000	2	8	3
Contribution to equity method investee	0	−49,000	0	0	—
Net cash used in investing activities	−20	−13	−2	−51	−41
Payments for tax withholding related to vested stock awards	−156,000	−175,000	−394,000	0	0
Proceeds from line of credit	1,446	1,476	1,237	1,201	857
Repayment of line of credit	−1,448	−1,477	−1,232	−1,203	−820
Proceeds from issuance of debt	4	0	0	46	0
Repayment of long-term debt	−7	−5	−8	−11	−7
Payment of debt financing costs	−213,000	0	0	−544,000	0
Repayment of obligations under finance leases	−6	−4	−2	−3	−2
Cash distributions to noncontrolling interests	0	−500,000	−884,000	−187,000	−338,000
Net cash used in financing activities	−11	−11	−6	25	29
Net decrease in cash	−6	−765,000	−9	9	5
Cash paid for interest	11	12	10	6	3
Cash paid for income taxes	358,000	3	4	9	10
Right-of-use assets obtained in exchange for operating lease liabilities	17	5	3	7	11
Property acquired in exchange for finance leases	14	14	2	1	9
Acquisition of noncontrolling interests	0	772,000	2	0	—
Payments to Acquire Intangible Assets	−2	0	—	—	—

Filings

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