How Freshpet makes money

Period

FY2025

How does Freshpet make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Freshpet Inc. · FY2025 · year ended 2025-12-31

Revenue$1.1BGross profit$450M · 41%Cost of revenue$652M · 59%Operating income$76M · 7%Operating expenses$374M · 34%SG&A$374M · 34%Pre-tax income$139M · 13%Other income$63M · 6%Net income$139M · 13%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.