NEW YORK, July  10, 2026  (GLOBE NEWSWIRE) -- Borealis Foods Inc. (NASDAQ:BRLS, BRLSW)) (&#34;Borealis&#34; or the &#34;Company&#34;), a food science and manufacturing company known for its Chef Woo, Chef Ramsay, Ramen

BRLS

Borealis Foods CEO Highlights Manufacturing Partnerships with Leading Global Food Companies as New Product Rollout Expands in U.S. and Canada

Borealis BRLS reports 8% Q1 revenue rise; debt refinanced, Nasdaq risk persists

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  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, July  10, 2026  (GLOBE NEWSWIRE) -- Borealis Foods Inc. (NASDAQ:BRLS, BRLSW)) (&amp;#34;Borealis&amp;#34; or the &amp;#34;Company&amp;#34;), a food science and manufacturing company known for its Chef Woo, Chef Ramsay, Ramen</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Borealis Foods reported Q1 2026 revenue growth of 8% YoY with a 29.3% reduction in operating losses and SG&amp;A down 24%. The company refinanced its secured debt, extending maturities to April 2031, improving liquidity. Nasdaq MVLS compliance remains a near-term overhang with a December 29, 2026 deadline, but ramping manufacturing partnerships could lift utilization and margins in 2026.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Q1 2026 revenue +8% YoY. Operating loss improved 29.3%.</li><li>Debt refinanced; balloon maturity eliminated; new due date April 2031.</li><li>Nasdaq MVLS notice; 12/29/2026 deadline to regain compliance.</li><li>Manufacturing partnerships to expand capacity utilization. 2026 margin uplift expected.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Borealis Foods Inc. (BRLS)</strong>: Primary company; Q1 results, debt refinancing, and Nasdaq compliance are direct price drivers.</li><li><strong>BRLSW (BRLSW)</strong>: Warrant tied to BRLS; likely to react to BRLS performance and liquidity/financing developments.</li></ul>
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  <section data-block="category">
    <h3>Earnings</h3>
    <p>Category fits Earnings and Corporate Developments: quarterly metrics and a debt refi drive fundamentals, while Nasdaq compliance creates a near-term overhang.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Q1 2026 revenue rose 8% YoY, with margin improvements.</li><li>Refinanced secured debt, extending maturity to April 2031.</li><li>Nasdaq MVLS notice; Dec 29, 2026 deadline to regain compliance.</li><li>Manufacturing partnerships to expand capacity utilization. 2026 ramp expected to lift margins.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Q1 2026 ended March 31; net revenue +8.0% YoY.</li><li>Loss from operations improved 29.3%.</li><li>SG&amp;A down 24.0%.</li><li>Net cash used in operating activities improved 91% YoY.</li><li>Debt refinanced; balloon maturity eliminated; new maturity April 2031; Nasdaq MVLS deadline Dec 29, 2026.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term on improved liquidity and utilization; monitor Nasdaq compliance through 2026.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">NEW YORK, July  10, 2026  (GLOBE NEWSWIRE) -- Borealis Foods Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BRLS">BRLS</a>, BRLSW)) ("Borealis" or the "Company"), a food science and manufacturing company known for its Chef Woo, Chef Ramsay, Ramen Express, and Woodles brands, today provided an update on business progress, including continued demand for its protein-rich products, expanding manufacturing partnerships, and recent actions to strengthen its operations..</p>  <p align="left">"Demand for our products continues to be healthy across the board, especially in our higher-margin, protein-rich products," said Reza Soltanzadeh, Chief Executive Officer of Borealis Foods. "We are also very encouraged by our manufacturing partnerships with leading global food companies as we roll out our newest products in the U.S. and Canada."</p>  <p align="left">Soltanzadeh continued, "Having significant manufacturing capacity makes it possible for Borealis to enter into strategic manufacturing partnerships that can help maximize utilization of our production capacity. As we ramp up production of new products, we expect revenues and margins to improve over the next few quarters."</p>  <p align="left">For the first quarter ended March 31, 2026, Borealis reported net revenue growth of 8.0% year-over-year, a 29.3% improvement in loss from operations, a 24.0% reduction in SG&amp;A, and a 91% improvement in net cash used in operating activities compared with the prior-year period. Subsequent to quarter-end, the Company refinanced its primary secured debt, eliminating a previously scheduled August 2026 balloon maturity and extending the maturity date to April 2031.</p>  <p align="left">The Company continues to focus on improving manufacturing utilization at its Saluda, South Carolina facility, expanding institutional production volume, strengthening margins, and building a well diversified business. Borealis expects its recently added manufacturing partnerships to support increased capacity utilization as they ramp-up during 2026.</p>  <p align="left">As previously disclosed in the Company&#39;s Current Report on Form 8-K filed on July 8, 2026, the Company received a notice from The Nasdaq Stock Market LLC regarding the minimum Market Value of Listed Securities requirement for continued listing on The Nasdaq Capital Market The notice has no immediate effect on the listing or trading of the Company’s common shares or warrants. Borealis has until December 29, 2026, to regain compliance and intends to work diligently to address the matter within the applicable period.</p>  <p align="left">The Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026 and Current Report on Form 8-K regarding the Nasdaq notice are available at www.sec.gov and on the Company’s investor relations website.</p>  <p align="left"><strong>About Borealis Foods Inc.</strong><br></br>Borealis Foods Inc. is a food science and manufacturing company focused on developing and commercializing innovative, nutritious, and affordable food products. Through its CPG platform and Palmetto Gourmet Foods manufacturing operations, the Company markets a portfolio of healthy, nutritious and affordable protein-based noodle and ramen products across multiple brands, channels, and price points.</p>  <p align="left"><strong>Forward-Looking Statements</strong><br></br>This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements regarding the Company’s ability to regain compliance with Nasdaq’s continued listing requirements, improve operating performance, increase manufacturing utilization, expand institutional production volume, strengthen margins, and execute its business plan. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks relating to the Company’s ability to continue as a going concern, liquidity and financing requirements, Nasdaq continued listing compliance, customer demand, production ramp-up, related-party transactions, shareholder approval requirements, dilution, internal control weaknesses, and other risks described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements except as required by applicable law.</p>  <p align="left"><strong>Media Contact</strong><br></br>Henry Wong<br></br>Chief Marketing and Public Relations Officer<br></br>Borealis Foods Inc.<br></br>1540 Cornwall Road, Suite 104<br></br>Oakville, ON L6J 7W5<br></br>(905) 278-2200</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc2MDM5OSM3NzAwODU5IzIzMTEzNjM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/OGNlMWJkOWEtMjYyYy00YmNjLWJjNzItOTI5MzkzZGMzOTFhLTEzMjI5MTMtMjAyNi0wNy0xMC1lbg==/tiny/Borealis-Foods-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img>

Borealis Foods reported Q1 2026 revenue growth of 8% YoY with a 29.3% reduction in operating losses and SG&A down 24%. The company refinanced its secured debt, extending maturities to April 2031, improving liquidity. Nasdaq MVLS compliance remains a near-term overhang with a December 29, 2026 deadline, but ramping manufacturing partnerships could lift utilization and margins in 2026.

Borealis Foods CEO Highlights Manufacturing Partnerships with Leading Global Food Companies as New Product Rollout Expands in U.S. and Canada

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

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