Q4 & FY 2025 Earnings February 23, 2026 1 Forward Looking Statements & Non-GAAP Measures Forward-looking statements Certain statements in this presentation by Freshpet, Inc. (the "Company") constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on our current expectations and assumptions. These include statements related to our ability to adapt to the changing environment, strategies to address the current consumer environment, drive ...

Exhibit 99.1 Freshpet, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results Full Year 2025 Net Sales Growth of 13% and Achieves Positive Free Cash Flow Provides Full Year 2026 Outlook Bedminster, N.J. – February 23, 2026 – Freshpet, Inc. ("Freshpet" or the "Company") (Nasdaq: FRPT) today reported financial results for its fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Financial Highlights Compared to Prior Year Period Full Year 2025 Financial Highlights Compared to Pri ...

Core Insights - Freshpet, Inc. reported significant growth in net sales, surpassing $1 billion for the first time, with a focus on enhancing retail visibility and e-commerce momentum [4][18]. Financial Highlights - Fourth Quarter 2025 - Net sales increased by 8.6% to $285.2 million compared to $262.7 million in the prior year [5]. - Gross profit was $123.5 million, representing a gross margin of 43.3%, up from 42.5% in the prior year [6]. - Adjusted Gross Profit reached $138.1 million, or 48.4% of net sales, compared to 48.1% in the prior year [6]. - SG&A expenses decreased to $79.0 million, or 27.7% of net sales, down from 35.1% in the prior year [7]. - Net income for the quarter was $33.8 million, compared to $18.1 million in the prior year [9]. - Adjusted EBITDA was $61.2 million, an increase from $52.6 million in the prior year [10]. Financial Highlights - Full Year 2025 - Full year net sales increased by 13.0% to $1,102.0 million from $975.2 million in the prior year [11]. - Gross profit for the year was $449.6 million, with a gross margin of 40.8%, slightly up from 40.6% in the prior year [12]. - Adjusted Gross Profit was $515.2 million, or 46.7% of net sales, compared to 46.5% in the prior year [12]. - SG&A expenses for the year were $374.0 million, or 33.9% of net sales, down from 36.7% in the prior year [13]. - Net income for the year was $139.1 million, significantly up from $46.9 million in the prior year, aided by a $68.4 million income tax benefit [14]. - Adjusted EBITDA for the year was $195.7 million, compared to $161.8 million in the prior year [15]. Balance Sheet and Cash Flow - As of December 31, 2025, the company had cash and cash equivalents of $278.0 million and total debt of $397.3 million [16]. - Cash from operations for the year was $160.6 million, an increase of $6.3 million compared to the prior year [16]. Outlook for 2026 - The company expects net sales growth in the range of 7% to 10% compared to 2025 [18]. - Adjusted EBITDA is projected to be between $205 million and $215 million, with positive free cash flow anticipated [18].

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Core Insights - Freshpet has become the first dog food brand to earn the Clean Label Project's Purity Award for its entire U.S. and Canadian product line, highlighting its commitment to ingredient quality and safety [1] - The Clean Label Project certification involves extensive testing for over 100 contaminants, including heavy metals and pesticides, ensuring that Freshpet's products meet stringent safety standards [1] - The announcement follows a report indicating that traditional dry dog foods contain significantly higher levels of heavy metals and industrial contaminants compared to fresh and frozen dog foods [1] Group 1: Certification and Quality - Freshpet is the only pet food brand with its entire portfolio recognized for meeting strict limits on contaminants like heavy metals and pesticides [1] - The Clean Label Project's Purity Award is reserved for the top third of performers in a product category, underscoring Freshpet's premium quality [1] - The certification process began in early 2025, and Freshpet's recipes have been validated against rigorous safety thresholds [1] Group 2: Health and Safety Concerns - The Clean Label Project found that traditional dry dog food averaged 13.3 times more arsenic, 20 times more lead and mercury, and higher levels of DEHP and acrylamide compared to fresh dog food [1] - Many pet owners mistakenly assume that pet food is held to the same safety standards as human food, which is not the case, raising concerns about long-term exposure to contaminants [1] - Freshpet's recipes are formulated with real, gently cooked ingredients and undergo strict safety checks, including over 20 quality and safety tests [1] Group 3: Company Mission and Practices - Freshpet has been on a mission for 20 years to transform pet nutrition through fresh, nutritious food and sustainable practices [2] - The company partners with farmers who share similar values, emphasizing integrity, transparency, and social responsibility in its operations [2] - Freshpet's products are kept refrigerated until they reach consumers, ensuring freshness and quality [2]

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Leadership Appointments - Freshpet, Inc. has appointed John O'Connor as Chief Financial Officer effective February 9, 2026, and Ana Lopez as Senior Vice President of Supply Chain effective February 2, 2026 [2][3] - O'Connor succeeds Ivan Garcia, who served as Interim CFO since October 2025 and will transition to Senior Vice President of Finance [2][3] Leadership Experience - John O'Connor brings over 20 years of financial leadership experience, particularly in animal health, having previously worked at Zoetis and Thrive Pet Healthcare [4] - Ana Lopez has over 20 years of global supply chain leadership experience, most recently at Unilever, and has held senior roles at Johnson & Johnson [5] Company Outlook - Freshpet has reaffirmed its guidance for fiscal 2025, with financial results for the fourth quarter and full year expected to be reported on February 23, 2026 [3]

Group 1 - Freshpet, Inc. will report its fourth quarter and full year results for 2025 on February 23, 2026, before market open [1] - A conference call with the executive management team is scheduled for February 23, 2026, at 8:00 a.m. ET to discuss the results [2] - The conference call will be available for live streaming on the company's website and will be archived for later access [3] Group 2 - Freshpet's mission is to provide fresh food for pets, using locally sourced ingredients and cooking in small batches to maintain quality [4] - The company's products are available in various retail formats across the U.S., Canada, and Europe, as well as online in the U.S. [5]

Core Viewpoint - Chewy is leveraging e-commerce to enhance sales of over 130,000 pet products, but long-term investors have seen a decline of over 70% in stock value over the past five years, indicating a need for caution [1] Group 1: Company Performance - Chewy reported an 8.3% year-over-year revenue growth in Q3 2025, maintaining this growth rate for the previous two quarters, although revenue growth has been slowing over the last three years [3] - The company has low net profit margins, with fiscal 2023 and fiscal 2024 margins at 0.4% and 3.3% respectively, and a Q3 2025 margin of 1.9%, which is significantly lower than high-growth tech companies [4][5] - Chewy's gross margins are below 30%, making it difficult to achieve high net profit margins, suggesting that the current revenue growth rate may not sustain long-term gains [5] Group 2: Strategic Focus - Chewy aims to increase profit margins by focusing on high-margin opportunities such as health and wellness, exemplified by its acquisition of SmartEquine to enter the profitable equine health market [6] - The acquisition of SmartEquine aligns with Chewy's strategy to enhance annual recurring revenue and customer lifetime values, potentially making revenue more predictable [7] - Despite Chewy's expansion into high-margin business categories, the overall pet industry is characterized by low margins, which may limit the company's ability to significantly improve net profit margins [8][9]

Company Performance - Freshpet (FRPT) closed at $64.25, with a daily increase of +1.56%, outperforming the S&P 500's loss of 0.06% [1] - Over the past month, Freshpet's shares have decreased by 3.61%, underperforming the Consumer Staples sector's gain of 1.35% and the S&P 500's gain of 1.99% [1] Upcoming Earnings - Freshpet is expected to report an EPS of $0.43, reflecting a year-over-year increase of 19.44% [2] - Revenue is forecasted to be $286.05 million, indicating an 8.88% growth compared to the same quarter last year [2] Full Year Projections - For the full year, earnings are projected at $2.49 per share, showing a significant increase of +223.38% from the previous year, while revenue is expected to remain at $1.1 billion [3] Analyst Estimates - Recent changes to analyst estimates for Freshpet are crucial as they indicate confidence in the company's performance and profit potential [3] - The Zacks Consensus EPS estimate has remained unchanged over the last 30 days, and Freshpet currently holds a Zacks Rank of 3 (Hold) [5] Valuation Metrics - Freshpet has a Forward P/E ratio of 43.47, which is significantly higher than its industry's Forward P/E of 12.96 [6] - The PEG ratio for Freshpet is 1.55, which is in line with the average PEG ratio for Food - Miscellaneous stocks [6] Industry Context - The Food - Miscellaneous industry is part of the Consumer Staples sector and currently holds a Zacks Industry Rank of 176, placing it in the bottom 29% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]