Freshpet (FRPT) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	FRESHPET, INC.
Entity Central Index Key	1611647
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		33,470,732

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and equivalents	$24,918,508	$36,259,252
Short-term investments	7,499,205
Accounts receivable, less allowance for doubtful accounts of $383,126 on March 31, 2015 and $359,425 on December 31, 2014	6,533,594	5,360,400
Inventories, net	7,427,084	7,314,151
Prepaid expenses and other current assets	719,257	1,291,379
Total Current Assets	47,097,648	50,225,182
Property, plant and equipment, net	61,953,765	57,825,961
Deposits on equipment	2,318,191	2,883,234
Other assets	1,624,924	1,527,483
Total Assets	112,994,528	112,461,860
CURRENT LIABILITIES:
Accounts payable	7,238,095	5,423,905
Accrued expenses	2,226,982	2,938,316
Total Current Liabilities	9,465,077	8,362,221
OTHER LIABILITIES:
Accrued warrants	821,046	706,940
Total Liabilities	10,286,123	9,069,161
STOCKHOLDERS' EQUITY:
Common stock — voting, $0.001 par value, 200,000,000 shares authorized, 33,470,732 and 33,468,342 issued and outstanding on March 31, 2015 and December 31, 2014, respectively	33,470	33,468
Additional paid-in capital	290,119,660	288,216,882
Accumulated deficit	-187,444,725	-184,857,651
Total Stockholders' Equity	102,708,405	103,392,699
Total Liabilities and Stockholders' Equity	$112,994,528	$112,461,860

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$383,126	$359,425
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	33,470,732	33,468,342
Common stock, shares outstanding	33,470,732	33,468,342

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
NET SALES	$27,054,674	$19,350,197
COST OF GOODS SOLD	13,801,655	10,057,072
GROSS PROFIT	13,253,019	9,293,125
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	15,791,703	11,594,529
LOSS FROM OPERATIONS	-2,538,684	-2,301,404
OTHER EXPENSES:
Other Income/(Expenses)	4,148	-41,598
Fees on Debt Guarantee		-1,837,247
Interest Expense	-37,538	-953,975
Other Expenses, Total	-33,390	-2,832,820
LOSS BEFORE INCOME TAXES	-2,572,074	-5,134,224
INCOME TAX EXPENSE	15,000	8,000
NET LOSS	-2,587,074	-5,142,224
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	($2,587,074)	($7,485,640)
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
-BASIC	($0.08)	($0.53)
-DILUTED	($0.08)	($0.53)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING USED IN COMPUTING NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
-BASIC	33,469,749	14,035,660
-DILUTED	33,469,749	14,035,660

CONSOLIDATED_STATEMENT_OF_CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($2,587,074)	($5,142,224)
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities:
Provision for losses on accounts receivable	-918	169,846
Loss on disposal of equipment and deposits on equipment	8,723	34,766
Fees on debt guarantee		1,837,247
Share based compensation	1,860,112	242,926
Fair value adjustment for outstanding warrants	114,106
Change in reserve for inventory obsolescence	6,006	91,529
Depreciation and amortization	1,754,905	1,588,005
Amortization of deferred financing costs and loan discount	35,294	63,024
Changes in operating assets and liabilities
Accounts receivable	-1,172,276	-1,741,546
Inventories	-118,939	719,411
Prepaid expenses and other current assets	572,122	61,007
Other assets	-130,025	-109,906
Accounts payable	1,477,326	1,681,848
Accrued expenses and accrued interest on long-term debt	-711,334	286,408
Net cash flows provided by (used in) operating activities	1,108,028	-217,659
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments	-7,499,205
Acquisitions of property, plant and equipment, software and deposits on equipment	-4,964,527	-4,756,757
Proceeds from sale of equipment		232,699
Net cash flows used in investing activities	-12,463,732	-4,524,058
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on long-term debt		2,000,000
Exercise of options to purchase common stock	14,960
Proceeds from preferred stock - Series C issued		2,499,998
Net cash flows provided by financing activities	14,960	4,499,998
NET CHANGE IN CASH AND EQUIVALENTS	-11,340,744	-241,719
CASH AND EQUIVALENTS, BEGINNING OF YEAR	36,259,252	2,444,754
CASH AND EQUIVALENTS, END OF PERIOD	24,918,508	2,203,035
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	24,744	905,843
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Preferred stock dividend accretion		2,343,416
Property, plant and equipment purchases in accounts payable	$1,320,823	$758,218

Nature_of_the_Business_and_Sum

Nature of the Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Nature of the Business and Summary of Significant Accounting Policies	Note 1 – Nature of the Business and Summary of Significant Accounting Policies:
	Nature of the Business – Freshpet, Inc. (hereafter referred to as “Freshpet” or the “Company”), a Delaware corporation, manufactures and markets natural fresh, refrigerated meals and treats for dogs and cats. The Company’s products are distributed throughout the United States and Canada into major retail classes including Grocery and Mass (which includes club) as well as Pet Specialty and Natural retail.
	Principles of Consolidation – The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). The financial statements include the accounts of the Company and its wholly-owned subsidiary, Professor Connor’s Canada Inc. (“PCCI”). All significant intercompany accounts and transactions have been eliminated in consolidation.
	Basis of Presentation - The accompanying consolidated balance sheet as of March 31, 2015, statements of operations and comprehensive loss for the three months ended March 31, 2015 and 2014, and statements of cash flows for the three months ended March 31, 2015 and 2014 are unaudited. The interim unaudited financial statements have been prepared on the same basis as the annual audited financial statements and in accordance with the rules and regulations of the United States Securities and Exchange Commission. In the opinion of management, the interim unaudited financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2015, the results of its operations for the three months ended March 31, 2015 and 2014, and its cash flows for the three months ended March 31, 2015 and 2014. The financial data and other information disclosed in these notes related to the three months ended March 31, 2015 and 2014 are unaudited. The results for three months ended March 31, 2015 are not necessarily indicative of results to be expected for the year ending December 31, 2015, any other interim periods, or any future year or period.
	These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2014 Annual Report on Form 10-K.
	Estimates and Uncertainties - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results, as determined at a later date, could differ from those estimates.
	Fair Value of Financial Instruments - Financial Accounting Standards Board (‘‘FASB’’) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement).
	The three levels of the fair value hierarchy are as follows:
	·	Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.
	·	Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies.
	·	Level 3 — Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.
	The carrying amounts reported in the balance sheets for other receivables, short-term investments, accounts payable and accrued expenses approximate their fair value based on the short-term maturity of these instruments.
	Short-Term Investments – The Company holds interest-bearing certificates of deposits with financial institutions with maturities ranging from three months to one year. Certificates of deposit are classified as short-term investments and interest is recorded as other income.

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Note 2 – Recently Issued Accounting Standards:
	In April 2014, the FASB issued ASU 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” (“ASU 2014-08”). Under ASU 2014-08, only disposals representing a strategic shift in operations that have a major effect on the Company’s operations and financial results should be presented as discontinued operations. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The amendments in ASU 2014-08 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. However, ASU 2014-08 should not be applied to a component that is classified as held for sale before the effective date even if the component is disposed of after the effective date. The effects of ASU 2014-08 will depend on any future disposals by the Company.
	On May 28, 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	On April 7, 2015, the FASB issued ASU 2015-03, “Interest—Imputation of Interest,” which requires that debt issuance cost be presented on the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. This new guidance will be effective for the Company beginning January 1, 2016. ASU 2015-03 will not have an impact on the Company’s consolidated financial statements other than presentation.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Note 3 – Inventories:
		March 31,			December 31,
		2015			2014
	Raw Materials	$	2,032,217		$	2,321,458
	Packaging Components Material		1,289,130			1,158,967
	Finished Goods		4,171,224			3,905,219
			7,492,571			7,385,644
	Reserve for Obsolete Inventory		(65,487	)		(71,493	)
		$	7,427,084		$	7,314,151

Property_Plant_and_Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 4 – Property, Plant and Equipment:
	Property, plant and equipment, net are summarized as follows:
		March 31,			December 31,
		2015			2014
	Refrigeration Equipment	$	50,004,275		$	47,789,991
	Machinery and Equipment		20,318,979			19,677,778
	Building and Improvements		9,985,917			9,985,917
	Furniture and Office Equipment		1,933,558			1,826,249
	Leasehold Improvements		627,962			627,962
	Construction in Progress		4,788,690			1,941,754
	Automotive Equipment		316,101			314,885
			87,975,482			82,164,536
	Less: Accumulated Depreciation and Amortization		(26,021,717	)		(24,338,575	)
		$	61,953,765		$	57,825,961
	Depreciation expense related to property, plant and equipment totaled $1,726,976 for the three months ended March 31, 2015, of which $619,254 was recorded to cost of goods sold for the three months ended March 31, 2015, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense. Depreciation expense related to property, plant and equipment totaled approximately $1,576,141 for the three months ended March 31, 2014, of which $626,822 was recorded to cost of goods sold for the three months ended March 31, 2014, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense.
	During the three months ended March 31, 2014, the Company completed a project to analyze the estimated future years of service on its existing refrigeration equipment. Based on this analysis, the Company estimates that the useful life of its refrigeration equipment increased from 6 to 9 years. The Company applied this change in estimate prospectively, which reduced depreciation by approximately $1.8 million for fiscal year 2014 and is expected to reduce depreciation by $2.0 million for fiscal year 2015. The useful life of the other classes of property, plant and equipment remains unchanged.

Accrued_Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2015
Payables And Accruals [Abstract]
Accrued Expenses
	Note 5 – Accrued Expenses:
		March 31,		December 31,
		2015		2014
	Accrued Compensation	$	731,799	$	1,802,756
	Other Accrued Expenses		436,844		406,179
	Accrued Insurance		183,483		—
	Accrued Marketing		16,879		127,028
	Accrued Freight		114,349		97,561
	Accrued Chiller Maintenance		717,628		349,792
	Accrued Sales and Use Tax		26,000		155,000
		$	2,226,982	$	2,938,316

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Note 6 – Debt:
	Prior to the Initial Public Offering (“IPO”) and related debt refinancing, the Company’s outstanding debt consisted of a $1.5 million stockholder note (the “Stockholder Note”), a $27.0 million revolving note payable (the “$27.0 Million Revolver”), a $62.5 million revolving note payable (the “$62.5 Million Revolver”), and $2.0 million in shareholder convertible notes (the “Convertible Notes”). Each of these was repaid concurrent with the closing of the IPO.
	On November 13, 2014, in connection with the IPO, the Company entered into senior secured credit facilities (the “Debt Refinancing”) comprised of a 5-year $18.0 million term facility (the “Term Facility”), a 3-year $10.0 million revolving facility (the “Revolving Facility”) and a $12.0 million additional term loan commitment earmarked primarily for capital expenditures (the “Capex Commitments” and together with the Term Facility and Revolving Facility, the “Credit Facilities” and such loan agreement, the “Loan Agreement”).
	On December 23, 2014, the Company repaid the outstanding $18.0 million and modified the terms of the $40.0 million Credit Facilities. The $18.0 million term facility was extinguished, the 3-year $10.0 million Revolving Facility remained unchanged, and the $12.0 million term loan commitment earmarked for capital expenditures was increased to $30.0 million.
	Any drawn Capex Commitments (the “Capex Loans”) will mature on the fifth anniversary of the execution of the Loan Agreement. Any undrawn Capex Commitments will expire on the third anniversary of the execution of the agreement. Under the terms of the Loan Agreement, the commitments for the Revolving Facility may be increased up to $20.0 million subject to certain conditions.
	The Loan Agreement provides for the maintenance of various covenants, including financial covenants, and includes events of default that are customary for facilities of this type.  As of March 31, 2015, the Company was in compliance with all the covenants in its credit agreement.
	As of March 31, 2015, we had no debt outstanding.

Redeemable_Preferred_Stock

Redeemable Preferred Stock	3 Months Ended
	Mar. 31, 2015
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Stock	Note 7 – Redeemable Preferred Stock:
	Concurrent with the closing of the IPO on November 13, 2014, the Company redeemed all the outstanding shares of Series B Preferred Stock (“Series B”), including cumulative dividends, for a cash payment of $34,998,957. Additionally, immediately prior to the closing of the IPO, the Company converted the outstanding shares of Series C Preferred Stock (“Series C”) to 11,067,090 shares of common stock. Based on the Series C anti-dilutive clause, the conversion from Series C to common stock was to be equivalent to the 1-to-0.7396 common stock share split that occurred in connection with the IPO.  The converted Series C included 2,477,756 Series C shares related to the Fees on Debt Guarantee, which were converted to 1,832,531 shares of common stock.
	During the three months ended March 31, 2014, the Company issued an additional 476,186 shares of Preferred Stock Series C at $5.25 per share. The dividends accrued during the three months ended March 31, 2014 were $1,153,827 for the Preferred Stock Series B and $1,189,589 for the Preferred Stock Series C. There were no dividends accrued as of March 31, 2015 due to the redemption of Series B and conversion of Series C upon the close of the IPO.

Guarantee_Agreement

Guarantee Agreement	3 Months Ended
	Mar. 31, 2015
Guarantees [Abstract]
Guarantee Agreement	Note 8 – Guarantee Agreement:
	In connection with the $62.5 Million Revolver (see Note 6), the Company entered into a Fee and Reimbursement Agreement with certain stockholders who were also guarantors of the note. That agreement stipulated that the Company would pay each Guarantor a contingent fee equal to 10% per annum of the amount that each Guarantor had committed to Guarantee. The payment was to be made in the form of newly issued shares of Series C at a price of $5.25 per share. The fee accrued only from and after the date that the Guarantor entered into the Guarantee, and if at any time any Guarantor’s obligation was terminated in full or in part, the Fee would continue to accrue only with respect to the amount, if any, of such Guarantor’s remaining commitment under the Credit Agreement.
	Immediately prior to the closing of the IPO, the Company converted outstanding fees under the guarantee into 2,477,756 shares of Series C, which were then converted into 1,832,531 shares of common stock.
	The fees on debt guarantee were recognized as a liability by the Company and recorded at fair value at issuance. The instrument was then adjusted to its then fair value at each reporting period with changes in fair value recorded in the consolidated statement of operations and comprehensive loss. Historically, the Company measured the fair value of the outstanding fee on debt guarantee using an option pricing method with several possible distribution outcomes depending on the timing and kind of liquidity event. Expected volatility was estimated utilizing the historical volatility of similar companies. The risk-free interest rates were based on the U.S. Treasury yield for a period consistent with the expected contractual life.

Equity_Incentive_Plans

Equity Incentive Plans	3 Months Ended
	Mar. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plans	Note 9 – Equity Incentive Plans:
	Total compensation cost for share-based payments recognized for the months ended March 31, 2015 and 2014 was $1,887,820 and $242,926, respectively.
	2006 Stock Plan—In December 2006, the Company approved the 2006 Stock Plan (the “2006 Plan”) under which options to purchase approximately 624,223 shares of the Company’s common stock were granted to employees and affiliates of the Company. These options vest over 5 years. Certain option awards provide for accelerated vesting if there is a change in control (as defined in the 2006 Plan). The options granted have maximum contractual terms ranging from 5 to 10 years. At March 31, 2015, there were zero shares available for grant as the plan is frozen.
	During the three months ended March 31, 2015, there were no grants and 2,390 shares were exercised, at a weighted average exercise price of $6.27, under the 2006 Plan.
	2010 Stock Plan—In December 2010, the Company approved the 2010 Stock Plan (the “2010 Plan”) under which options to purchase approximately 2,146,320 shares of the Company’s common stock were granted to employees and affiliates of the Company (in 2012, the 2010 Plan was amended to allow for the granting of approximately 2,220,280 options to purchase shares of the Company’s common stock). These options are either time-based (vest over 4 years), performance-based (vest when performance targets are met, as defined in the stock option grant agreement), or vest at the occurrence of an exit event which is defined as a Change of Control in the Company or an initial public offering registered under the Securities Act, as defined in the stock grant agreement.
	In November, 2014, the Company made modifications that affected all performance-based awards and all exit-event awards under the 2010 Plan. Performance-based awards were modified to time vested awards that cliff vest over two years. At the time of modification, the original performance-based awards’ vesting criteria was not considered probable. The exit-event awards were modified to performance-based awards. At December 31, 2014, the new performance-based awards’ vesting criteria was considered probable. The modified awards were fair valued on the modification date. The options granted have maximum contractual terms of 10 years. The Board of Directors froze the 2010 Stock Plan such that no further grants may be issued under the 2010 Stock Plan.
	During the three months ended March 31, 2015, there were no grants or exercises under the 2010 Plan.
	2014 Omnibus Incentive Plan—In November 2014, the Company approved the 2014 Omnibus Incentive Plan (the “2014 Plan”) under which 1,479,200 shares of common stock may be issued or used for reference purposes as awards granted under the 2014 Plan. These awards may be in the form of stock options, stock appreciation rights, restricted stock, as well as other stock-based and cash-based awards. As of March 31, 2015, the stock options granted were either time-based (cliff vest over 3 years) or performance-based (vest when performance targets are met, as defined in the stock option grant agreement).
	In addition to stock options granted under the 2014 Plan, the Company may issue restricted stock units to the board of directors as compensation for their services. The fair value of restricted stock units is based on the share price on the date of grant. Restricted stock units granted in 2014 vest over one year, and the Company will settle these awards by common stock transfer. During the three months ended March 31, 2015, there were no restricted stock units granted.
	During the three months ended March 31, 2015, there were 6,550 units granted, at a weighted average exercise price of $17.00, and there were no exercises under the 2014 Plan.
	At March 31, 2015, there were 936,648 shares of common stock available to be issued or used for reference purposes under the 2014 Plan.

Net_Loss_Attributable_to_Commo

Net Loss Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Loss Attributable to Common Stockholders	Note 10 – Net Loss Attributable to Common Stockholders:
	Basic net loss per common share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted net loss per common share is computed by giving effect to all potentially dilutive securities. Diluted net loss per common share is the same as basic net loss per common share, due to the fact that potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss for the three months ended March 31, 2015 and March 31, 2014.
	The potentially dilutive securities excluded from the determination of diluted loss per share, as their effect is antidilutive, are as follows:
		Three months ended
		March 31,
		2015			2014
	Convertible Preferred Series C (on an as-if converted basis)		—			8,495,604
	Service Period Stock Options		2,019,647			1,082,740
	Warrants		61,117			61,117
			2,080,764			9,639,461
	The computation of net income attributable to common stockholders is as follows:
		Three months ended
		March 31,
		2015			2014
	Net loss	$	(2,587,074	)	$	(5,142,224	)
	Preferred stock dividends on Series B and Series C*		—			(2,343,416	)
	Net loss attributable to common stockholders	$	(2,587,074	)	$	(7,485,640	)
	* See Note 7 – Redeemable Preferred Stock for further detail and discussion.

Related_Party_Disclosures

Related Party Disclosures	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions
	Note 11 – Related Party Transactions:
	Payments made to a stockholder for distribution services totaled $2,500,436 during the three months ended March 31, 2015, and $1,835,704 during the three months ended March 31, 2014. Payments of $1,720,817 for the three months ended March 31, 2015, and $1,159,657 for the three months ended March 31, 2014, were made to stockholders for the purchase of raw materials. In addition, there were payments of $29,589 for the three months ended March 31, 2015, and $103,400 for the three months ended March 31, 2014, related to rent and associated utilities and maintenance to a stockholder who is also a landlord of one of our locations. The rent and associated utilities and maintenance cost were at market rates. None of the payments made above were to stockholders who are either an employee, board member, subsidiary, or affiliate of the Company.
	In connection with the $62.5 Million Revolver, certain stockholders were guarantors of the note. That agreement stipulated that the Company pay each guarantor a contingent fee equal to 10% per annum of the amount that each guarantor has committed to guarantee. The $62.5 Million Revolver was repaid in connection with the IPO. See Note 8 for further detail.

Concentrations

Concentrations	3 Months Ended
	Mar. 31, 2015
Risks And Uncertainties [Abstract]
Concentrations	Note 12 – Concentrations:
	Concentration of Credit Risk—The Company maintains its cash balances in financial institutions which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 each. At times, such balances may be in excess of the FDIC insurance limit.
	Major Customers—For the three months ended March 31, 2015 and 2014, net sales to one of our distributors, which sells directly to three of our customers, accounted for 20% and 25% of our net sales, respectively. For the three months ended March 31, 2015, one customer accounted for more than 10% of our net sales, while no customer accounted for more than 10% of our net sales during the same period in 2014.
	Major Suppliers—The Company purchased approximately 50% of its raw materials from three vendors during the three months ended March 31, 2015, and approximately 58% of its raw materials from three vendors during the three months ended March 31, 2014.
	The Company also purchased approximately 91% of its treats finished goods from three other vendors for the three months ended March 31, 2015, and approximately 86% from three vendors for the three months ended March 31, 2014.
	The Company purchased approximately 73% of its packaging material from three vendors during the three months ended March 31, 2015, and 75% of its packaging material from two vendors during the three months ended March 31, 2014.
	Net Sales By Class of Retail – The following table sets forth net sales by class of retail:
		Three months ended
		March 31,
		2015		2014
	Grocery, Mass and Club	$	20,484,045	$	14,579,249
	Pet Specialty, Natural and Other		6,570,629		4,770,948
	Net Sales	$	27,054,674	$	19,350,197

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 13 – Subsequent Events:
	The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or unrecognized subsequent events that have required adjustment or disclosure in the financial statements other than as disclosed below:
	Secondary Offering
	On May 5, 2015, the Company completed its secondary public offering (File No. 333-203368), in which the selling stockholders sold 6,110,353 shares of common stock, including 797,002 shares of common stock issued as a result of the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $21.47 per share. The aggregate amount of gross consideration paid by the public for shares sold in the offering was approximately $131 million. The Company did not receive any of the proceeds from the sale of shares in the secondary offering.

Nature_of_the_Business_and_Sum1

Nature of the Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Nature of the Business	Nature of the Business – Freshpet, Inc. (hereafter referred to as “Freshpet” or the “Company”), a Delaware corporation, manufactures and markets natural fresh, refrigerated meals and treats for dogs and cats. The Company’s products are distributed throughout the United States and Canada into major retail classes including Grocery and Mass (which includes club) as well as Pet Specialty and Natural retail.
Principles of Consolidation	Principles of Consolidation – The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). The financial statements include the accounts of the Company and its wholly-owned subsidiary, Professor Connor’s Canada Inc. (“PCCI”). All significant intercompany accounts and transactions have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation - The accompanying consolidated balance sheet as of March 31, 2015, statements of operations and comprehensive loss for the three months ended March 31, 2015 and 2014, and statements of cash flows for the three months ended March 31, 2015 and 2014 are unaudited. The interim unaudited financial statements have been prepared on the same basis as the annual audited financial statements and in accordance with the rules and regulations of the United States Securities and Exchange Commission. In the opinion of management, the interim unaudited financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2015, the results of its operations for the three months ended March 31, 2015 and 2014, and its cash flows for the three months ended March 31, 2015 and 2014. The financial data and other information disclosed in these notes related to the three months ended March 31, 2015 and 2014 are unaudited. The results for three months ended March 31, 2015 are not necessarily indicative of results to be expected for the year ending December 31, 2015, any other interim periods, or any future year or period.
	These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2014 Annual Report on Form 10-K.
Estimates and Uncertainties	Estimates and Uncertainties - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results, as determined at a later date, could differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments - Financial Accounting Standards Board (‘‘FASB’’) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement).
	The three levels of the fair value hierarchy are as follows:
	·	Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.
	·	Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies.
	·	Level 3 — Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.
	The carrying amounts reported in the balance sheets for other receivables, short-term investments, accounts payable and accrued expenses approximate their fair value based on the short-term maturity of these instruments.
Short-Term Investments	Short-Term Investments – The Company holds interest-bearing certificates of deposits with financial institutions with maturities ranging from three months to one year. Certificates of deposit are classified as short-term investments and interest is recorded as other income.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Summary of Inventories
		March 31,			December 31,
		2015			2014
	Raw Materials	$	2,032,217		$	2,321,458
	Packaging Components Material		1,289,130			1,158,967
	Finished Goods		4,171,224			3,905,219
			7,492,571			7,385,644
	Reserve for Obsolete Inventory		(65,487	)		(71,493	)
		$	7,427,084		$	7,314,151

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment, Net	Property, plant and equipment, net are summarized as follows:
		March 31,			December 31,
		2015			2014
	Refrigeration Equipment	$	50,004,275		$	47,789,991
	Machinery and Equipment		20,318,979			19,677,778
	Building and Improvements		9,985,917			9,985,917
	Furniture and Office Equipment		1,933,558			1,826,249
	Leasehold Improvements		627,962			627,962
	Construction in Progress		4,788,690			1,941,754
	Automotive Equipment		316,101			314,885
			87,975,482			82,164,536
	Less: Accumulated Depreciation and Amortization		(26,021,717	)		(24,338,575	)
		$	61,953,765		$	57,825,961

Accrued_Expenses_Tables

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2015
Payables And Accruals [Abstract]
Summary of Accrued Expenses		March 31,		December 31,
		2015		2014
	Accrued Compensation	$	731,799	$	1,802,756
	Other Accrued Expenses		436,844		406,179
	Accrued Insurance		183,483		—
	Accrued Marketing		16,879		127,028
	Accrued Freight		114,349		97,561
	Accrued Chiller Maintenance		717,628		349,792
	Accrued Sales and Use Tax		26,000		155,000
		$	2,226,982	$	2,938,316

Net_Loss_Attributable_to_Commo1

Net Loss Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities	The potentially dilutive securities excluded from the determination of diluted loss per share, as their effect is antidilutive, are as follows:
		Three months ended
		March 31,
		2015			2014
	Convertible Preferred Series C (on an as-if converted basis)		—			8,495,604
	Service Period Stock Options		2,019,647			1,082,740
	Warrants		61,117			61,117
			2,080,764			9,639,461
Schedule of Net Income Attributable to Common Stockholders	The computation of net income attributable to common stockholders is as follows:
		Three months ended
		March 31,
		2015			2014
	Net loss	$	(2,587,074	)	$	(5,142,224	)
	Preferred stock dividends on Series B and Series C*		—			(2,343,416	)
	Net loss attributable to common stockholders	$	(2,587,074	)	$	(7,485,640	)
	* See Note 7 – Redeemable Preferred Stock for further detail and discussion.

Concentrations_Tables

Concentrations (Tables)	3 Months Ended
	Mar. 31, 2015
Risks And Uncertainties [Abstract]
Net Sales by Class of Retail	Net Sales By Class of Retail – The following table sets forth net sales by class of retail:
		Three months ended
		March 31,
		2015		2014
	Grocery, Mass and Club	$	20,484,045	$	14,579,249
	Pet Specialty, Natural and Other		6,570,629		4,770,948
	Net Sales	$	27,054,674	$	19,350,197

Nature_of_the_Business_and_Sum2

Nature of the Business and Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Interest-bearing certificates maturities, description	three months to one year

Inventories_Summary_of_Invento

Inventories - Summary of Inventories (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw Materials	$2,032,217	$2,321,458
Packaging Components Material	1,289,130	1,158,967
Finished Goods	4,171,224	3,905,219
Inventory gross	7,492,571	7,385,644
Reserve for Obsolete Inventory	-65,487	-71,493
Inventory net	$7,427,084	$7,314,151

Property_Plant_and_Equipment_S

Property, Plant and Equipment - Summary of Property, Plant and Equipment, Net (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$87,975,482	$82,164,536
Less: Accumulated Depreciation and Amortization	-26,021,717	-24,338,575
Property, plant and equipment, net	61,953,765	57,825,961
Refrigeration Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	50,004,275	47,789,991
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	20,318,979	19,677,778
Building and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	9,985,917	9,985,917
Furniture and Office Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,933,558	1,826,249
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	627,962	627,962
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	4,788,690	1,941,754
Automotive Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$316,101	$314,885

Property_Plant_and_Equipment_A

Property, Plant and Equipment - Additional Information (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Property Plant And Equipment [Line Items]
Depreciation expense	$1,726,976	$1,576,141
Cost of goods sold, depreciation	619,254	626,822
Refrigeration Equipment
Property Plant And Equipment [Line Items]
Estimated useful life		9 years
Reduction in refrigeration equipment			-1,800,000
Refrigeration Equipment | Scenario, Previously Reported
Property Plant And Equipment [Line Items]
Estimated useful life		6 years
Refrigeration Equipment | Scenario, Forecast
Property Plant And Equipment [Line Items]
Reduction in refrigeration equipment				($2,000,000)

Accrued_Expenses_Summary_of_Ac

Accrued Expenses - Summary of Accrued Expenses (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued Compensation	$731,799	$1,802,756
Other Accrued Expenses	436,844	406,179
Accrued Insurance	183,483
Accrued Marketing	16,879	127,028
Accrued Freight	114,349	97,561
Accrued Chiller Maintenance	717,628	349,792
Accrued Sales and Use Tax	26,000	155,000
Accrued expenses	$2,226,982	$2,938,316

Debt_Additional_Information_De

Debt - Additional Information (Details) (USD $)	0 Months Ended
	Nov. 13, 2014	Dec. 23, 2014	Mar. 31, 2015	Nov. 12, 2014
Debt Instrument [Line Items]
Debt outstanding			$0
$1,500,000 10% Note
Debt Instrument [Line Items]
Long-term debt				1,500,000
$62,500,000 Revolving Note Payable
Debt Instrument [Line Items]
Notes payable				62,500,000
Debt instrument, face amount				62,500,000
$27,000,000 Revolving Note Payable
Debt Instrument [Line Items]
Debt instrument, face amount	27,000,000
Term Facility
Debt Instrument [Line Items]
Debt instrument, face amount	18,000,000
Credit facility term	5 years
Revolving Facility
Debt Instrument [Line Items]
Debt instrument, face amount	10,000,000
Credit facility term	3 years
Increase in credit facility		20,000,000
Capex Commitments
Debt Instrument [Line Items]
Debt instrument, face amount	12,000,000
$2,000,000 Convertible Shareholder Note
Debt Instrument [Line Items]
Notes payable				2,000,000
Forty Million Credit Facilities
Debt Instrument [Line Items]
Debt instrument, face amount		40,000,000
Forty Million Credit Facilities | Term Facility
Debt Instrument [Line Items]
Extinguishment amount of debt		18,000,000
Forty Million Credit Facilities | Capex Commitments
Debt Instrument [Line Items]
Debt instrument, face amount		$30,000,000

Redeemable_Preferred_Stock_Add

Redeemable Preferred Stock - Additional Information (Details) (USD $)	0 Months Ended	3 Months Ended
	Nov. 13, 2014	Mar. 31, 2015	Mar. 31, 2014
Temporary Equity [Line Items]
Common stock share split ratio	0.7396
Dividends accrued		$0
IPO
Temporary Equity [Line Items]
Debt conversion converted instrument shares issued	11,067,090
Redeemable Preferred Stock Series B
Temporary Equity [Line Items]
Dividends accrued			1,153,827
Redeemable Preferred Stock Series B | IPO
Temporary Equity [Line Items]
Redeemed outstanding shares value	34,998,957
Preferred Stock Series C
Temporary Equity [Line Items]
Preferred stock, shares issued			476,186
Preferred stock, shares issued price		$5.25	$5.25
Dividends accrued			$1,189,589
Preferred Stock Series C | IPO
Temporary Equity [Line Items]
Debt conversion converted instrument shares issued	1,832,531
Convertible preferred stock shares issued upon conversion	2,477,756

Guarantee_Agreement_Additional

Guarantee Agreement - Additional Information (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Nov. 13, 2014	Nov. 12, 2014	Mar. 31, 2014
Guarantee Obligations [Line Items]
Percentage of contingent fee	10.00%
IPO
Guarantee Obligations [Line Items]
Debt conversion converted instrument shares issued		11,067,090
$62,500,000 Revolving Note Payable
Guarantee Obligations [Line Items]
Debt instrument, face amount			$62,500,000
Redeemable Preferred Stock Series C
Guarantee Obligations [Line Items]
Preferred stock, shares issued price	5.25			$5.25
Redeemable Preferred Stock Series C | IPO
Guarantee Obligations [Line Items]
Convertible preferred stock shares issued upon conversion		2,477,756
Debt conversion converted instrument shares issued		1,832,531

Equity_Incentive_Plans_Additio

Equity Incentive Plans - Additional Information (Details) (USD $)	3 Months Ended		1 Months Ended			12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2006	Dec. 31, 2010	Nov. 30, 2014	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$1,887,820	$242,926
Restricted stock units granted	0
2006 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, number of shares granted	0		624,223
Stock options vesting period			5 years
Stock options, available for grant	0
Stock options exercised, shares	2,390
Weighted average exercise price of options exercised	$6.27
2010 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, number of shares granted	0			2,146,320
Stock options vesting period				4 years
Stock options, available for grant				2,220,280
Stock options exercised, shares	0
2010 Stock Plan | Performance Based Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vesting period					2 years
2014 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, number of shares granted	6,550				1,479,200
Stock options vesting period	3 years
Stock options, available for grant	936,648
Stock options exercised, shares	0
Weighted average exercise price of shares granted	$17
Minimum | 2006 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted maximum contractual terms	5 years
Maximum | 2006 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted maximum contractual terms	10 years
Maximum | 2010 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted maximum contractual terms						10 years

Net_Loss_Attributable_to_Commo2

Net Loss Attributable to Common Stockholders - Schedule of Antidilutive Securities (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities	2,080,764	9,639,461
Convertible Preferred Series C
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities		8,495,604
Service Period Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities	2,019,647	1,082,740
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities	61,117	61,117

Net_Loss_Attributable_to_Commo3

Net Loss Attributable to Common Stockholders - Schedule of Net Income Attributable to Common Stockholders (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share Basic [Line Items]
Net loss	($2,587,074)	($5,142,224)
Net loss attributable to common stockholders	-2,587,074	-7,485,640
Series B and Series C Preferred Stock
Earnings Per Share Basic [Line Items]
Preferred stock dividends on Series B and Series C		($2,343,416)	[1]
[1]	See Note 7 b Redeemable Preferred Stock for further detail and discussion.

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Percentage of contingent fee	10.00%
Beneficial Owner
Related Party Transaction [Line Items]
Percentage of contingent fee	10.00%
Beneficial Owner | Revolving Facility
Related Party Transaction [Line Items]
Repayments of Lines of Credit	$62,500,000
Distribution Services
Related Party Transaction [Line Items]
Payments made to a stockholder for distribution services	2,500,436	1,835,704
Purchases of Raw Materials
Related Party Transaction [Line Items]
Payments made to a stockholder for distribution services	1,720,817	1,159,657
Rent and Associated Utilities and Maintenance
Related Party Transaction [Line Items]
Payments made to a stockholder for distribution services	29,589	103,400
Employee, Board Member, Subsidiary or Affiliates
Related Party Transaction [Line Items]
Payments made to a stockholder for distribution services	$0

Concentrations_Additional_Info

Concentrations - Additional Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
	Customer	Customer
Customer Concentration Risk | Sales Revenue Net
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	25.00%
Number of customers	3	3
Supplier Concentration Risk | Purchases of Raw Materials
Concentration Risk [Line Items]
Concentration risk, percentage	50.00%	58.00%
Number of vendors	3	3
Supplier Concentration Risk | Finished Goods
Concentration Risk [Line Items]
Concentration risk, percentage	91.00%	86.00%
Number of vendors	3	3
Supplier Concentration Risk | Packaging Materials
Concentration Risk [Line Items]
Concentration risk, percentage	73.00%	75.00%
Number of vendors	3	2
Customer One | Customer Concentration Risk | Sales Revenue Net
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%
Number of customers	1	0
Maximum
Concentration Risk [Line Items]
Cash, FDIC insured amount	250,000

Concentrations_Net_Sales_by_Cl

Concentrations - Net Sales by Class of Retail (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Concentration Risk [Line Items]
NET SALES	$27,054,674	$19,350,197
Grocery Mass And Club
Concentration Risk [Line Items]
NET SALES	20,484,045	14,579,249
Pet Specialty, Natural and Other
Concentration Risk [Line Items]
NET SALES	$6,570,629	$4,770,948

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Details) (Subsequent Event, Secondary Public Offering, USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	5-May-15
Subsequent Event | Secondary Public Offering
Subsequent Event [Line Items]
Preferred stock, shares issued	6,110,353
Number of shares purchased by underwriters	797,002
Common stock offering price during secondary public offering	$21.47
Aggregate amount of consideration	$131