Company Summary: BranchOut Food Inc.

Overview

• Name: BranchOut Food Inc. (originally incorporated as AvoChips Inc., later converted to Avochips, LLC, and then to Nevada corporation).
• Incorporation Dates:
  • February 21, 2017 (as AvoChips Inc.)
  • November 2, 2017 (conversion to LLC)
  • November 19, 2021 (conversion to Nevada corporation named BranchOut Food Inc.)
• Headquarters: 205 SE Davis Ave., Suite C, Bend, Oregon, 97702.
• Employees: Approximately 185 full-time employees as of March 31, 2025 (including 180 employees in Peru).
• Business Focus: Development, marketing, sale, and distribution of plant-based dehydrated fruit and vegetable snacks and powders.
• Manufacturing: Historically outsourced to two contract manufacturers in South America (Chile and Peru). In December 2024, they began operating their own production facility in Peru (Peru Facility) with large-scale REV dehydration machines from EnWave.
• Technology: Licenses proprietary dehydration technology from EnWave, which they use exclusively in Peru and North America for avocado-based products, and non-exclusively for other products.

Product Lines

1. BranchOut Snacks

• Dehydrated fruit and vegetable snacks, primarily single-ingredient products.
• Key products:
  • Avocado Chips: Real avocado slices with flavors like Sea Salt with Lime, Chili Lime, and Sriracha.
  • Chewy Banana Bites: Actual banana slices with flavors “Original” and “Cinnamon Churro” known for a marshmallow-like, chewy texture.
  • Pineapple Chips: Made from 100% dried pineapple.
  • Vegetable Crisps: Brussels Sprout Crisps and Bell Pepper Crisps.
• Manufacturing in Peru using licensed proprietary GentleDry™ technology, which preserves flavor, color, and nutritional content better than conventional methods.

2. Private Label Products

• Sold to major North American retailers.
• Products include: Prunes, Carrots, Brussels Sprouts, Raisins.
• Uses South American supply chain capabilities.

3. Industrial Ingredients

• Includes Banana, Mango, Blueberry, Pineapple, Cherry Tomato, Avocado, and others.
• Collaboration with MicroDried leveraging proprietary GentleDry™ technology.
• Targets large-scale food ingredient markets, with a partnership expected to generate several million dollars annually.

4. Products in Development

• Broccoli Bites, Mango Chips, Mandarin Crisps, Asparagus Sticks, among others.
• Developing snack concepts for the U.S. Army’s Meals Ready-to-Eat.
• Creating salad toppers with a large U.S. salad dressing producer.

Market & Industry

• Operates within the $1.5 trillion U.S. grocery market.
• Growing consumer demand for clean-label, minimally processed, plant-based, functional, and nutritious snacks.
• Competitive edges:
  • Proprietary GentleDry™ technology yields superior taste, texture, and nutritional retention compared to traditional dehydration and freeze-drying.
  • Focus on highly sensitive fruits like avocados and bananas, which traditional methods degrade.
• Industry trends favor natural and organic foods, expanding market penetration into conventional grocery stores.

Revenue & Financials

• 2024 Revenue: Approx. $6.52 million.
• 2023 Revenue: Approx. $2.83 million.
• Net Loss (2024): Approx. $4.75 million.
• Net Loss (2023): Approx. $3.93 million.
• Initial Public Offering (June 2023):
  • Issued 1,190,000 shares at $6.00 per share.
  • Net proceeds: $6.23 million.
  • Converted $6.03 million of convertible debt into 1,572,171 shares.
• Funding:
  • Utilized an At-The-Market sales agreement raising approximately $2.3 million in net proceeds as of December 31, 2024.
  • As of December 31, 2024, stockholders’ equity was $2.34 million, but additional sales under ATM could improve this figure.

Strategic Goals

• Expand distribution channels across retail, online, and food service.
• Grow brand recognition and shelf presence in major retail outlets (e.g., in 1,400 stores of a major retailer as of December 2024).
• Increase gross margins and operational efficiencies through vertical integration.
• Launch new products and private label offerings based on consumer trends.
• Focus on growth within the large, secular shift toward plant-based, functional, and natural foods.

Summary

BranchOut Food Inc. develops and sells innovative, plant-based dehydrated snacks and powders using proprietary dehydration technology licensed from EnWave. It operates in the vast U.S. grocery market, with a focus on high-quality, minimally processed products that meet modern consumer preferences for health and transparency. The company has approximately 185 employees, generated revenue of about $6.52 million in 2024, and reported a net loss of approximately $4.75 million. It has a strategic focus on expanding distribution, developing new products, and increasing vertical integration through its own production facility in Peru.