BRLS (Borealis Foods) Shares Outstanding (Basic Average): 21.46 Mil (As of Dec. 2025)


BRLS Borealis Foods Inc BRLS
2 GF Score
Price $1.45
! 4 Warning Signs
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What is Borealis Foods Shares Outstanding (Basic Average)?

Borealis Foods BRLS +5.88% 2 Shares Outstanding (Basic Average) is 21.46 Mil as of Dec. 2025. GuruFocus rates BRLS with a GF Score™ of 2/100. The stock has 4 warning signs investors should review.

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Borealis Foods's average basic shares outstanding for the quarter that ended in Dec. 2025 was 21.46 Mil.

Borealis Foods  (NAS:BRLS) Shares Outstanding (Basic Average) Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.

Borealis Foods Shares Outstanding (Basic Average) Related Terms

Borealis Foods Shares Outstanding (Basic Average) Historical Data

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The historical data trend for Borealis Foods's Shares Outstanding (Basic Average) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Borealis Foods Shares Outstanding (Basic Average) Chart

Borealis Foods Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Shares Outstanding (Basic Average)
20.87 20.87 21.38 20.31 21.43

Borealis Foods Quarterly Data
Dec21 Mar22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Shares Outstanding (Basic Average) Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 21.39 21.38 21.41 21.46 21.46
BRLS
2GF Score
Borealis Foods Inc BRLS
Shares Outstanding (Basic Average) is just one metric. See GF Score™, valuation, warning signs, and more.
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Borealis Foods Shares Outstanding (Basic Average) Calculation

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.

Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.

What does a Shares Outstanding (Basic Average) of 21.46 Mil mean?
Borealis Foods (BRLS) has a Shares Outstanding (Basic Average) of 21.46 Mil as of Dec. 2025. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Borealis Foods and its competitors.
Is Borealis Foods' Shares Outstanding (Basic Average) too high?
Borealis Foods' current Shares Outstanding (Basic Average) is 21.46 Mil. Overall, Borealis Foods has a GF Score™ of 2/100, reflecting its overall financial health beyond just this single metric.
How does Borealis Foods' Shares Outstanding (Basic Average) compare to LSF and JVA?
Borealis Foods' Shares Outstanding (Basic Average) of 21.46 Mil can be compared against companies in the Consumer Packaged Goods industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (Basic Average) for a Consumer Packaged Goods company?
A good Shares Outstanding (Basic Average) depends on the Consumer Packaged Goods industry context. However, Shares Outstanding (Basic Average) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (Basic Average) mean?
A high Shares Outstanding (Basic Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Borealis Foods and its competitors. Borealis Foods's current Shares Outstanding (Basic Average) is 21.46 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Borealis Foods stock overvalued right now?
Borealis Foods (BRLS) has a current Shares Outstanding (Basic Average) of 21.46 Mil. The current Shares Outstanding (Basic Average) is 21.46 Mil. Borealis Foods' overall GF Score™ is 2/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Basic Average) calculated?
Shares Outstanding (Basic Average) is calculated from a company's financial statements. For Borealis Foods (BRLS), the current Shares Outstanding (Basic Average) is 21.46 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Borealis Foods Business Description

Address 1540 Cornwall Road, Suite 104, Oakville, ON, CAN, L6J7W5
Borealis Foods Inc is a food technology integrator with a mission to address food security challenges through the development and commercialization of tasty, affordable, and sustainable functional foods. Borealis has developed a range of high-quality, affordable, sustainable, and nutritious premium, ready-to-eat meals sold in the United States, Canada, Central America, South America, and Europe. Through the development and launch of its ready-made ramen, featuring 20 grams of complete plant-based protein per serving, Borealis is developing solutions to address food challenges.
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