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BranchOut Food

BOF
21
Packaged Foods · Consumer Defensive
Price
$4.13
+0.13 (+3.25%)
Market Cap
$63.3M
Exchange
NASDAQ Capital Market
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.

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)

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.

Winston Score History

Growth Profile

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

Revenue Growth

-18.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-6.3% 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

16.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~1 months

$917,661 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

BranchOut Food has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

Gross Margin
15.4%
Thin — 15.4% gross margin
Operating Margin
-62.1%
Losing money on operations — -62.1%
ROCE
-12.1%
Weak — -12.1% return on capital

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

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Growth

Sales YoY
+59.4%
Fast-growing sales (59.4% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-61.2%
Burning cash (-61.2%)

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

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Stability

Debt / Equity
1.26
Elevated debt (1.26)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
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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