0001437749-21-003615 | 10-K | XBRL Viewer

Accounting Standards Update and Change in Accounting Principle [Text Block]

Note 2 – Recently Issued Accounting Standards:

Recently Adopted Standards

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The standard requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The reported results for the twelve months ended December 31, 2020 reflect the application of ASU 2016-13. The application of the update did not have a material impact to our allowance for doubtful accounts. Please see the description of the Company's "Trade accounts receivable" accounting policy above.

Effective January 1, 2019, the Company adopted Accounting Standards Codification (ASC) Topic 842, Leases. ASC Topic 842 requires the recognition of lease rights and obligations as assets and liabilities on the balance sheet. Previously, lessees were not required to recognize on the balance sheet assets and liabilities arising from operating leases. As we elected the cumulative-effect adoption method, prior-period information has not been restated.

Standards Effective in Future Years

In January 2020, the FASB issued Accounting Standards Update No. 2020-01, Investments - Equity Services (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The standard addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The standard is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires changes to be made prospectively. The Company is in the process of evaluating the impact the adoption of this standard will have, however, the Company does not expect the adoption of this standard to have a material impact on their financial condition and results of operations.

We consider the applicability and impact of all Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB).

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Note 3 - Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Text Block]

Note 3 – Inventories:

Inventories are summarized as follows:

	*December 31,*			*December 31,*
	*2020*			*2019*
		(Dollars in thousands)
Raw Materials and Work in Process	$	9,347		$	4,453
Packaging Components Material		1,872			1,419
Finished Goods		8,365			6,842
		19,584			12,715
Reserve for Obsolete Inventory		(465	)		(173	)
	$	19,119		$	12,542

Note 4 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

Note 4 – Property, Plant and Equipment:

	*December 31,*			*December 31,*
	*2020*			*2019*
		(Dollars in thousands)
Refrigeration Equipment	$	107,703		$	97,568
Machinery and Equipment		106,176			54,274
Building, Land, and Improvements		101,786			25,621
Furniture and Office Equipment		5,687			4,932
Leasehold Improvements		1,301			395
Automotive Equipment		160			309
Construction in Progress		44,497			58,587
		367,310			241,687
Less: Accumulated Depreciation		(86,237	)		(76,400	)
	$	281,073		$	165,288

Depreciation and amortization expense related to property, plant and equipment totaled approximately $20.8 million, $15.6 million, and $13.8 million, for the years ended December 31, 2020, 2019 and 2018, respectively; of which $9.6 million, $6.4 million, and $6.1 million was recorded in cost of goods sold for 2020, 2019 and 2018, respectively; with the remainder of depreciation and amortization expense being recorded to selling, general and administrative expense.

Note 5 - Equity Method Investment

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 5 – Equity Method Investment:

On September 2, 2020, the Company acquired a 19% interest in a privately held company that operates in our industry for $27.9 million. The total $27.9 million is comprised of an initial investment of $26.6 million and $1.3 million of transaction costs. The Company concluded that they are not the primary beneficiary, which is primarily the result of the Company's conclusion that it does not have the power to direct activities that most significantly impact the economic performance. However, the Company completed an analysis over the investment and determined that based on the circumstances within the agreement, the Company does have the ability to exercise significant influence even though the Company's percentage of ownership is below 20%. As a result, this investment is accounted for under the equity method of accounting. The basis difference between the Company's carrying value of its investment and the amount of underlying equity in net assets of the privately held company is not material to the Company's consolidated financial statements.

There is no equity in income (loss) of equity method investment included in our Consolidated Statement of Operation and Comprehensive Loss for the periods presented as the results were not material to Freshpet's consolidated financial statements.

Note 6 - Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Text Block]

Note 6 – Income Taxes

A summary of income taxes as follows:

	*Year Ended December 31,*
	*2020*		*2019*		*2018*
Current:		(Dollars in thousands)
Federal	$	—	$	—	$	—
State		65		144		77
International		—		—		—
	$	65	$	144	$	77

The provisions for income taxes do not bear a normal relationship to loss before income taxes primarily as a result of the valuation allowance on deferred tax assets.

The reconciliation of the statutory federal income tax rate to the Company’s effective tax is presented below:

	*Year Ended December 31,*
	*2020*			*2019*			*2018*
Tax at federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal		39.2	%		36.6	%		(1.2	%)
Permanent items		284.4	%		312.2	%		(2.4	%)
Other		5.6	%		5.6	%		(0.1	%)
State rate change		0.2	%		(24	%)		15.8	%
Valuation allowance		(352.5	%)		(362.7	%)		(34.5	%)
Effective tax rate		(2.1	%)		(11.6	%)		(1.5	%)

In assessing the realizability of the net deferred tax assets, the Company considers all relevant positive and negative evidence to determine whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The realization of the gross deferred tax assets is dependent on several factors, including the generation of sufficient taxable income prior to the expiration of the net operating loss carryforwards. The Company believes that it is more likely than not that the Company’s deferred income tax assets will not be realized. The Company has experienced taxable losses from inception. As such, there is a full valuation allowance against the net deferred tax assets as of December 31, 2020, 2019 and 2018.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	*Year Ended December 31,*
	*2020*			*2019*			*2018*
	(Dollars in thousands)
Net operating loss	$	60,268		$	49,626		$	45,831
Stock option expense		6,454			5,063			1,155
Property and equipment		(11,941	)		(10,372	)		(9,688	)
Other		1,194			966			552
Less: Valuation allowance		(55,975	)		(45,283	)		(37,850	)
Net deferred income tax assets	$	-		$	-		$	-

At December 31, 2020, the Company had federal net operating loss (“NOL”) carryforwards of $239.8 million, of which $175.0 million, generated in 2017 and prior, will expire between 2025 and 2037. The NOL generated in 2018, 2019 and 2020 of $64.4 million will have an indefinite carryforward period but can generally only be used to offset 80% of taxable income in any particular year. The Company may be subject to the net operating loss utilization provisions of Section 382 of the Internal Revenue Code. The effect of an ownership change would be the imposition of an annual limitation on the use of NOL carry forwards attributable to periods before the change. The amount of the annual limitation depends upon the value of the Company immediately before the change, changes to the Company’s capital during a specified period prior to the change, and the federal published interest rate. Although we have not completed an analysis under Section 382 of the Code, it is likely that the utilization of the NOLs will be limited. At December 31, 2020, the Company had $189.8 million of State NOLs which expire between 2020 and 2039, and had $10.0 million of foreign NOLs which do not expire.

Entities are also required to evaluate, measure, recognize and disclose any uncertain income tax provisions taken on their income tax returns. The Company has analyzed its tax positions and has concluded that as of December 31, 2020, there were no uncertain positions. The Company’s U.S. federal and state net operating losses have occurred since its inception in 2005 and as such, tax years subject to potential tax examination could apply from that date because the utilization of net operating losses from prior years opens the relevant year to audit by the IRS and/or state taxing authorities. Interest and penalties, if any, as they relate to income taxes assessed, are included in the income tax provision. The Company did not have any unrecognized tax benefits and has not accrued any interest or penalties through 2020.

The Company considered the impact of the disallowance of certain incentive based compensation tax deductibility under Internal Revenue Code Section 162(m); however, to the extent an adjustment to the deferred tax asset is required the impact will be offset by a corresponding adjustment to the valuation allowance.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 7 - Accrued Expenses

12 Months Ended

Dec. 31, 2020

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Note 7 – Accrued Expenses:

	*2020*		*2019*
	(Dollars in thousands)
Legal Contingency	$	-	$	10,100
Accrued Compensation and Employee Related Costs		8,185		6,391
Accrued Chiller Cost		2,049		1,576
Accrued Customer Consideration		502		635
Accrued Freight		1,002		703
Accrued Production Expenses		705		414
Accrued Marketing		684		1,188
Accrued IT/Systems		805		-
Other Accrued Expenses		1,439		1,127
	$	15,371	$	22,133

Note 8 - Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Text Block]

Note 8 – Debt:

On April 17, 2020, the Company entered into the 2020 Loan Agreement, which amended and restated in full the Company's Fourth Amended and Restated Loan and Security Agreement, dated as of May 15, 2019. The 2020 Loan Agreement provided for a $165.0 million senior secured credit facility (the "Credit Facility"), encompassing a $130.0 million delayed draw term loan facility (the "Delayed Draw Facility") and a $35.0 million revolving loan facility (the "Revolving Loan Facility"), which replaced the Company's prior $55.0 million delayed draw term loan facility and $35.0 million revolving loan facility.

The Credit Facility had a maturity date of April 17, 2025 and borrowings thereunder bored interest at variable rates depending on the Company's election, either at a base rate or at LIBOR, in each case, plus an applicable margin. Subject to the Company's leverage ratio, the applicable margin varied between 0.50% and 1.00% for base rate loans and 1.50% and 2.00% for LIBOR loans.

Borrowings under the Credit Facility were secured by substantially all of the Company's and certain of its subsidiaries' assets.

During the first quarter of 2020, the Company borrowed an additional $20.9 million under the Credit Facility, which consisted of $13.9 million related to Delayed Draw Term Loans, net of unamortized debt issuance cost of less than $0.1 million, and $7.0 million related to the Revolving Loan Facility, bringing the total outstanding debt to $76.0 million. Subsequent to the additional borrowings, the Company paid down the total outstanding debt on its Credit Facility of $76.0 million during the second quarter of 2020. As a result, the Company had no debt outstanding under the Credit Facility as of December 31, 2020.

Net borrowings under our credit facilities totaled $54.5 million at December 31, 2019, of which $40.5 million net of unamortized debt issuance cost of $0.6 million, related to the Draw Term Loans and $14.0 million related to the Revolving Loan Facility.

In connection with entering into the Credit Facility, the Company incurred $0.8 million of debt issuance cost which is capitalized on the balance sheet and amortized over the life of the Credit Facility. As of December 31, 2020, there was $1.2 million of the remaining debt issuance cost from the Credit Facility as well as fees incurred from the prior credit facilities.

Interest expense and fees totaled $1.2 million, $1.0 million and $0.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. There was $0.1 million accrued interest on the credit facilities as of December 31, 2020, $0.3 million of accrued interest on the credit facilities as of December 31, 2019, and less than $0.1 million of accrued interest on the credit facilities as of December 31, 2018. See Note 16, Subsequent Events, for additional information on our new credit facility that was executed on February 19, 2020.

Note 9 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Text Block]

Note 9 – Commitments and Contingencies

Commitments – The Company’s obligations include leases for office space under non-cancelable operating leases, manufacturing processing and utility servicing that expire at various dates through April 1, 2027.

Leases:

We have various noncancellable lease agreements for office and warehouse space, as well as office equipment, with original remaining lease terms of two years to nine years, some of which include an option to extend the lease term for up to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term and associated potential option payments are excluded from lease payments. The Company’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants.

Weighted-average remaining lease term (in years) and discount rate related to operating leases were as follows:

	December 31,
	2020			2019
Weighted-average remaining lease term		5.43			6.22
Weighted-average discount rate		6.1	%		6.1	%

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the date of adoption to determine the present value of lease payments.

Costs related to lease obligations for the years ended December 31, 2020 and 2019 were as follows:

	For the Twelve Months Ended December 31,
	2020		2019
	(Dollars in thousands)
Operating lease cost	$	1,796	$	1,606

Supplemental cash flow information and non-cash activity relating to operating leases are as follows:

	*For the Twelve Months Ended December 31,*
	*2020*		*2019*
Operating cash flow information:	*(Dollars in thousands)*
Cash paid for amounts included in the measurement of lease liabilities	$	1,707	$	1,425
Right-of-use assets obtained in exchange for lease obligations	$	18	$	724

As of December 31, 2020, future minimum payments due under lease obligations for five years were as follows:

Operating Lease Obligations		*December 31, 2020*
	(Dollars in thousands)
2021	$	1,760
2022		1,768
2023		1,802
2024		1,511
2025 and beyond		2,786
Total lease payments	$	9,627
Less: Imputed interest		(1,231	)
Present value of lease liabilities	$	8,396

Rent expense for operating leases, in accordance with the leasing standard was $0.7 million in 2018.

As of December 31, 2020, future minimum payments due under manufacturing and service obligations for five years were as follows:

Manufacturing and Servicing Obligations	*December 31, 2020*
		(Dollars in thousands)
2021	$	4,862
2022		3,106
2023		3,213
2024		4,783
2025 and beyond		712
Total Manufacturing and Servicing Obligations	$	16,676

Certain of the Company’s executives are covered by employment contracts requiring the Company to pay severance in the event of certain terminations.

Legal Obligations:

A shareholder derivative lawsuit, Meldon v. Freshpet, Inc. et al, Docket No. 2:18-cv-10166, was instituted June 5, 2018 in the United States District Court for the District of New Jersey against us and certain of our current and former executive officers and directors on behalf of certain holders of our common stock. We were served with a copy of the complaint in June 2018. The plaintiffs sought to recover damages for investors based on state law claims (alleged breaches of fiduciary duty, waste, and unjust enrichment) in connection with the alleged violations of federal securities laws alleged in the Curran action. On April 3, 2019, the Court granted a stay of the Meldon case pending resolution of certain matters in a related case, Curran v. Freshpet, Inc., which has been settled. The parties to the Meldon action then entered into settlement discussions, after which the parties reached an agreement in principle to settle the case based on the Company's commitment to continue certain governance practices. The parties also reached agreement on attorneys' fees. The settlement was approved and certified on August 4, 2020.

In addition, we are currently involved in various claims and legal actions that arise in the ordinary course of our business, including claims resulting from employment related matters. None of these claims or proceedings, most of which are covered by insurance, are expected to have a material adverse effect on our business, financial condition, results of operations or cash flows. However, a significant increase in the number of these claims or an increase in amounts owing under successful claims could materially and adversely affect our business, financial condition, results of operations or cash flows.

Note 10 - Equity Incentive Plans and Equity

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Text Block]

Note 10 – Equity Incentive Plans and Equity:

Total compensation cost for share-based payments recognized for the years ended December 31, 2020, 2019, and 2018 was approximately $10.9 million, $7.8 million, and $6.8 million, respectively. Cost of goods sold for the years ended December 31, 2020, 2019, and 2018 included share-based compensation of approximately $2.1 million, $0.9 million, and $0.9 million, respectively. Selling, general, and administrative expense for the year ended December 31, 2020, 2019, and 2018 included share-based compensation of approximately $8.8 million, $6.9 million, and $5.9 million, respectively. Capital expenditures recorded for the Freshpet Kitchens expansion project included share-based compensation of approximately $0.2 million and $0.2 million during the years ended December 31, 2020 and 2019, respectively.

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 option to purchase approximately 2,220,280 shares of the Company’s common stock). These options are either time-based (vest over four 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, as defined in the stock grant agreement.

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.

At December 31, 2020, the total number of unexercised options for the 2010 Plan is 26,130.

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. In September 2016, the 2014 Plan was amended to allow for the granting of an additional 2,500,000 shares of common stock to be issued or used for reference purposes as awards granted, for a total of 3,979,200 shares. In September 2020, the 2014 Plan was amended to allow for the granting of an additional 700,000 shares of common stock to be issued or used for reference purposes as awards granted, for an available total of 4,679,200 shares. 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 December 31, 2020, the awards granted were either time-based (cliff vest over three years), performance-based (vest when performance targets are met, as defined in the stock option grant agreement), or restricted stock units (employee RSUs cliff vest over three years and non-employee director RSUs cliff vest over one year). The total number of unexercised options and RSUs for the 2014 Plan is 2,610,490.

At December 31, 2020, there were 908,433 shares of common stock available to be issued or used for reference purposes under the 2014 Plan.

NASDAQ Marketplace Rules Inducement Award—During the year ended December 31, 2016, 500,000 service period stock options and 500,000 performance-based stock options were granted to the Company’s CEO as an inducement under the NASDAQ Marketplace Rules and during the first quarter of 2020, 15,000 service period stock options were granted to the Executive Vice President of Finance, at the time, who is currently Chief Financial Officer as an inducement under the NASDAQ Marketplace Rules, and therefore outside of any Plan. Under the terms of the applicable agreement, each grant is governed as if issued under the 2014 Omnibus Plan. The awards granted are time-based (cliff vest over four years and three years, respectively) and performance-based (vest when performance targets are met, as defined in the stock option grant agreement).

Service Period Stock Options—A summary of service period stock options outstanding and changes under the plans during the year ended December 31, 2020 is presented below:

Options	*Shares*			*Weighted Average Exercise Price*		*Average Remaining Contractual Term*		*Aggregate Intrinsic Value*
Outstanding at December 31, 2019		1,359,990		$	11.50				(Dollars in thousands)
Granted		382,910			127.89
Exercised		(415,499	)		8.97
Forfeited		(357	)		11.00
Outstanding at December 31, 2020		1,327,044		$	45.88		7.0	$	128,778
Exercisable at December 31, 2020		874,153		$	10.99		5.7	$	115,520

All of the options exercisable at December 31, 2020 were in-the-money, which account for the entire aggregate intrinsic value. The total intrinsic value of options exercised during the years ended December 31, 2020, 2019, and 2018 were $48.8 million, $18.4 million, and $7.3 million, respectively.

A summary of the nonvested service period stock options as of December 31, 2020, and changes during the year ended December 31, 2020, is presented below:

	*Number of Options*			*Weighted-Average Grant-Date Fair Value Per Share*
Nonvested as of December 31, 2019		347,796		$	8.11
Granted		382,910			64.75
Vested		(277,458	)		6.17
Forfeited		(357	)		5.61
Nonvested as of December 31, 2020		452,891		$	57.19

As of December 31, 2020, there was $24.7 million of total unrecognized compensation costs related to non-vested service period options, of which $5.9 million will be incurred in 2021, $5.7 million will be incurred in 2022, $4.9 million will be incurred in 2023 and the remaining $8.2 million will be incurred in 2024.

Performance Based Options—Performance based option vesting is contingent upon the Company achieving certain annual Net Sales or Adjusted EBITDA goals. A summary of performance-based stock options outstanding and changes under the plans during the year ended December 31, 2020 is presented below:

Options	*Shares*			*Weighted Average Exercise Price*		*Average Remaining Contractual Term*		*Aggregate Intrinsic Value*
Outstanding at December 31, 2019		1,372,819		$	18.31
Granted		844,508			139.02
Exercised		(63,315	)		27.34
Forfeited		(35,000	)		15.65
Outstanding at December 31, 2020		2,119,012		$	66.19		7.8	$	161,231
Exercisable at December 31, 2020		1,008,964		$	11.05		5.9	$	132,110

A summary of the nonvested performance-based options as of December 31, 2020, and changes during the year ended December 31, 2020, is presented below:

	*Number of Options*			*Weighted-Average Grant-Date Fair Value Per Share*
Nonvested as of December 31, 2019		1,338,361		$	10.89
Granted		844,508			70.83
Vested		(1,037,823	)		6.97
Forfeited		(35,000	)		7.49
Nonvested as of December 31, 2020		1,110,046		$	60.25

As of December 31, 2020, unrecognized compensation costs related to the 861,047 performance-based awards for which the achievement of the vesting criteria is considered probable as of December 31, 2020 have performance target dates ranging from December 31, 2021 through December 31, 2024. The total unrecognized compensation costs for these performance-based awards was $44.2 million as of December 31, 2020, of which $12.5 million will be incurred in 2021, $11.8 million will be incurred in 2022, $10.3 million will be incurred in 2023 and the remaining $9.6 million will be incurred in 2024.

As of December 31, 2020, there were 248,999 unvested performance-based options outstanding that were deemed not probable, with an aggregate fair value of $18.2 million.

Service Period Restricted Stock Units—The following table includes activity related to outstanding restricted stock units during the twelve months ended December 31, 2020.

	*Shares*			*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		240,229		$	29.07
Granted		55,134			63.68
Issued Upon Vesting		(123,744	)		24.33
Forfeited		(1,328	)		45.32
Outstanding at December 31, 2020		170,291		$	43.60

As of December 31, 2020, there was approximately $4.0 million of total unrecognized compensation costs related to restricted stock units, of which $2.6 million will be incurred in 2021, $1.2 million will be incurred in 2022, and $0.2 million will be incurred in 2023.

Performance Based Restricted Stock Units—The following table includes activity related to outstanding restricted stock units during the twelve months ended December 31, 2020.

	*Shares*		*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		-	$	-
Granted		22,894		55.54
Outstanding at December 31, 2020		22,894	$	55.54

As of December 31, 2020, unrecognized compensation costs related to the 22,894 performance-based RSUs for which the achievement of the vesting criteria is considered probable as of December 31, 2020 have performance target dates related to the twelve months ended December 31, 2023. The total unrecognized compensation costs for these performance-based awards was $2.4 million as of December 31, 2020, of which $0.8 million will be incurred in 2021, $0.8 million will be incurred in 2022, and the remaining $0.8 will be incurred in 2023.

Grant Date Fair Value of Options—The weighted average grant date fair value of options (service period options and performance based options) granted during the years ended December 31, 2020, 2019, and 2018 were $68.93, $24.24 and $14.27 per share, respectively.

Expected Volatility—Expected volatility was based on the historical volatility of the Company’s common stock.

Weighted Average Expected Term—The Company determined the expected term based on the “shortcut method” described in FASB ASC 718, Compensation—Stock Compensation (an expected term based on the midpoint between the vesting date and the end of the contractual term).

Risk-Free Interest Rate—The risk-free interest rates are based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant.

Expected Dividend Yield—The Company has not historically declared dividends, and no future dividends are expected to be available to benefit option holders. Accordingly, the Company used an expected dividend yield of zero in the valuation model.

	*Year Ended December 31,*
	*2020*	*2019*	*2018*
Weighted average exercise price of options granted	$ 135.55	$ 48.64	$ 27.60
Expected volatility	46.9% - 51.5%	47.6% - 48.5%	48.9% - 50%
Average expected terms in years	5.8 - 7	6 - 6.6	6 - 6.6
Risk-free interest rate	0.3% - 1.69%	2.27%	2.62% - 2.96%
Expected dividend yield	0.0%	0.0%	0.0%

Note 11 - Earnings Per Share Attributable to Common Stockholder

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Text Block]

Note 11 – Earnings Per Share Attributable to Common Stockholder:

Basic net earnings (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net earnings (loss) per share of common stock 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 years ended December 31, 2020, 2019 and 2018.

In the years ended December 31, 2020, 2019, and 2018, there were no reconciling items between Net Loss/Income and Net Loss attributable to common stockholders.

The potentially dilutive securities excluded from the determination of diluted loss per share, as their effect is antidilutive, are as follows:

	*Twelve Months Ended December 31,*
	*2020*		*2019*		*2018*
Service Period Stock Options		1,355,590		1,500,156		2,018,050
Restricted Stock Units		190,006		235,847		213,591
Performance Stock Options		1,008,960		34,482		52,536
Total		2,554,556		1,770,485		2,284,177

Note 12 - Retirement Plan

12 Months Ended

Dec. 31, 2020

Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block]

Note 12 – Retirement Plan:

The Company sponsors a safe harbor 401(k) plan covering all employees. All employees are eligible to participate. Active participants in the plan may make contributions of up to 50% of their compensation, subject to certain limitations. Company contributions totaled approximately $1.4 million in 2020, $1.1 million, in 2019, and $0.8 million in 2018.

Note 13 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

Note 13 – Related Party Transactions:

In September 2018, one of the Company’s raw material vendors was purchased by a significant stockholder of the Company. The purchase of the vendor by the stockholder, had no impact on the cadence or amount of the raw materials that the Company purchased from the vendor. As of June 10, 2019, the significant stockholder sold 3.3 million shares in the Company and is no longer considered a related party. Subsequent to the acquisition of the vendor by the stockholder, the Company had purchased approximately $1.5 million, and $0.7 million of raw materials from the vendor in 2019 and 2018, respectively.

The Company believes that all payments made to the vendor was at market value and thus at arms-length.

There were no related party transactions in 2020.

Note 14 - Concentrations

12 Months Ended

Dec. 31, 2020

Concentration Risk Disclosure [Text Block]

Note 14 – Concentrations:

Concentration of Credit Risk—The Company maintains its cash balances in financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000 each. At times, such balances may be in excess of the FDIC insurance limit.

Major Customers—In 2020, 2019, and 2018, net sales to one of our distributors which sells directly to three of our customers, accounted for 18%, 17%, and 16% of our net sales, respectively. In 2020 and 2018, no customers accounted for 10% of our net sales, while in 2019 one customer accounted for more than 10% of our net sales. As of December 31, 2020, one distributor and two customers accounted for 8%, 23% and 20% respectively, of our accounts receivable. As of December 31, 2019, one distributer and two customers accounted for 19%, 19% and 14%, respectively, of our account receivable.

Major Suppliers—The Company purchased approximately 23% of its raw materials from one vendor during 2020, approximately 27% of its raw materials from one vendor during 2019, and approximately 17% of its raw materials from one vendor during 2018.

The Company purchased approximately 88% of its packaging material from five vendors during 2020, 80% of its packaging material from three vendors during 2019, and approximately 81% of its packaging material from three vendors during 2018.

Note 15 - Unaudited Quarterly Results

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Text Block]

Note 15 – Unaudited Quarterly Results:

Unaudited quarterly results for the years ended December 31, 2020, 2019, and 2018 were as follows:

	*First Quarter*			*Second Quarter*			*Third Quarter*			*Fourth Quarter*
		(Dollars in thousands except per share data)
2020:
Net sales		70,098			79,980			84,190			84,522
Income/(loss) from operations		(2,886	)		231			3,760			(3,103	)
Net Income/(loss)		(3,590	)		153			3,547			(3,298	)
Net Income/(loss) attributable to common stockholders		(3,590	)		153			3,547			(3,298	)
Basic earnings/(loss) per common share		(0.10	)		0.00			0.09			(0.08	)
Diluted earnings/(loss) per common share		(0.10	)		0.00			0.09			(0.08	)
2019:
Net sales		54,792			60,052			65,266			65,752
Income/(loss) from operations		(3,317	)		(5,346	)		3,535			4,876
Net Income/(loss)		(3,422	)		(5,661	)		3,067			4,633
Net Income/(loss) attributable to common stockholders		(3,422	)		(5,661	)		3,067			4,633
Basic earnings/(loss) per common share		(0.10	)		(0.16	)		0.09			0.13
Diluted earnings/(loss) per common share		(0.10	)		(0.16	)		0.08			0.12
2018:
Net sales		43,170			47,625			50,800			51,643
Income/(loss) from operations		(3,410	)		(3,410	)		44			1,890
Net Income/(loss)		(3,521	)		(3,501	)		(97	)		1,757
Net Income/(loss) attributable to common stockholders		(3,521	)		(3,501	)		(97	)		1,757
Basic earnings/(loss) per common share		(0.10	)		(0.10	)		(0.00	)		0.05
Diluted earnings/(loss) per common share		(0.10	)		(0.10	)		(0.00	)		0.05

Note 16 - Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Text Block]

Note 16 – Subsequent Events:

On February 19, 2021, the Company entered into the Sixth Amended and Restated Loan and Security Agreement, by and among the Company, as borrower, City National Bank, as the arranger and administrative agent, and the lenders party thereto (the "New Loan Agreement"), which amends and restates in full the Company's 2020 Loan Agreement.

The New Loan Agreement provides for a $350 million senior secured credit facility (the "New Credit Facility"), encompassing a $300 million delayed draw term loan facility (the "Delayed Draw Facility") and a $50 million revolving loan facility (the "Revolving Loan Facility"), which replaces the Company's prior $130 million delayed draw term loan facility and $35 million revolving loan facility.

The New Credit Facility will mature on February 19, 2026, and borrowings thereunder will bear interest at variable rates depending on the Company's election, either at a base rate or at LIBOR, in each case, plus an applicable margin. Subject to the Company's leverage ratio, the applicable margin will vary between 0.75% and 2.25% for base rate loans and 1.75% and 3.25% for LIBOR loans. The Company has the option to borrow term loans under the Delayed Draw Facility ("Delayed Draw Term Loans") until August 19, 2023, subject to certain conditions. Commencing on August 19, 2022, the amount of any outstanding Delayed Draw Term Loans shall be repayable in equal consecutive quarterly installments equal to 1/28 of the outstanding Delayed Draw Term Loans. On August 19, 2023, the amortization will reset and the amount of any outstanding Delayed Draw Term Loans shall be repayable in equal consecutive quarterly installments equal to 1/28 of the outstanding Delayed Draw Term Loans and the remainder shall be due and payable on the maturity date.

Borrowings under the New Credit Facility will be secured by substantially all of the Company's and certain of its subsidiaries' assets. The New Loan Agreement requires compliance with various covenants customary for agreements of this type, including financial covenants and negative covenants that limit, among other things, the Company and its subsidiaries' ability to incur additional debt, create or incur liens, engage in mergers or consolidations, sell, transfer or otherwise dispose of assets, make voluntary prepayments to subordinated debt, permit a change of control, pay dividends or distributions, make investments, and enter into certain transactions with affiliates. The New Loan Agreement also includes events of default customary for agreements of this type.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Nature of the Business [Policy Text Block]

Nature of the Business – Freshpet, Inc. (hereafter referred to as “Freshpet”, the “Company”, "we" or "our"), a Delaware corporation, manufactures and markets natural fresh meals, and treats for dogs and cats. The Company’s products are distributed throughout the United States and other international markets into major retail classes including Grocery (including online), Mass and Club, Pet Specialty, and Natural retail.

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation – The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). All amounts included in the consolidated financial statements have been rounded except where otherwise stated. As figures are rounded, numbers presented throughout this document may not add up precisely to the totals we provide and percentages may not precisely reflect the absolute figures.

Consolidation, Policy [Policy Text Block]

Principles of Consolidation – The financial statements include the accounts of the Company as well as the Company’s wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Segment Reporting, Policy [Policy Text Block]

Segments – The Company operates as a single operating segment reporting to its chief operating decision maker.

Equity Method Investments [Policy Text Block]

Equity method investment - The Company utilizes the equity method to account for investments when the Company possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. The Company applies the equity method to investments in common stock and to other investments when such other investments possess substantially identical subordinated interests to common stock. The Company has elected to record its share of equity in income (losses) of equity method investment on a one-quarter lag based on the most recently available financial statements.

In applying the equity investment method, the Company records the investment at cost and subsequently increases or decreases the carrying amount of the investment by our proportionate share of the net income or loss.

Consolidation, Variable Interest Entity, Policy [Policy Text Block]

Variable interest entities ("VIEs") - In accordance with the applicable accounting guidance for the consolidation of variable interest entities, the Company analyzes its variable interests to determine if an entity in which it has a variable interest is a variable interest entity. The Company's analysis includes both quantitative and qualitative reviews to determine if we must consolidate a variable interest entity as its primary beneficiary.

Use of Estimates, Policy [Policy Text Block]

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. Estimates are used in determining, among other items, trade incentives, share-based compensation and useful lives for long-lived assets. Actual results, as determined at a later date, could differ from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents – The Company at times considers money market funds and all other highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

Receivable [Policy Text Block]

Trade Account Receivable – The allowance for doubtful accounts is based on the Company's assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, the age of the accounts receivable balances and current economic conditions that may affect a customer's ability to pay.

Restricted Stock Tax Withholdings [Policy Text Block]

Restricted Stock Tax Withholdings – To meet payroll tax withholdings obligations arising from the vesting of restricted share units, the Company withheld 32,611 shares totaling $2.6 million in 2020, 32,096 shares totaling $1.3 million in 2019, and 14,169 shares totaling $0.3 million in 2018.

Inventory, Policy [Policy Text Block]

Inventories – Inventories are stated at the lower of cost or market, using the first-in, first-out method. When necessary, the Company provides allowances to adjust the carrying value of its inventories to the lower of cost or net realizable value, including any costs to sell or dispose and consideration for obsolescence, excessive inventory levels, product deterioration and other factors in evaluating net realizable value.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant and Equipment – Property, plant and equipment are recorded at cost. The Company provides for depreciation on the straight-line method by charges to income at rates based upon estimated recovery periods of 7 years for furniture and office equipment, 5 years for automotive equipment, 9 years for refrigeration equipment, 5 to 10 years for machinery and equipment, and 15 to 39 years for building and improvements. Capitalized cost includes the costs incurred to bring the property, plant and equipment to the condition and location necessary for its intended use, which includes any necessary delivery, electrical and installation cost for equipment. Maintenance and repairs that do not extend the useful life of the assets over two years are charged to expense as incurred. Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful lives on the straight-line method.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Long-Lived Assets – The Company evaluates all long-lived assets for impairment. Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future net cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Recoverability of assets held for sale is measured by a comparison of the carrying amount of an asset or asset group to their fair value less estimated costs to sell. Estimating future cash flows and calculating fair value of assets requires significant estimates and assumptions by management. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carry amount to fair value and is charged to expense in the period of impairment.

Income Tax, Policy [Policy Text Block]

Income Taxes – The Company provides for deferred income taxes for temporary differences between financial and income tax reporting, principally net operating loss carryforwards, depreciation, and share-based compensation. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the years in which those temporary differences are expected to be recovered or settled.

A valuation allowance is appropriate when management believes it is more likely than not, the deferred tax asset will not be realized. At December 31, 2020, and 2019, the Company determined that full valuation of its net deferred tax assets and liabilities is appropriate.

Treasury Stock [Policy Text Block]

Treasury Stock – The Company may purchase or withhold shares of stock to satisfy statutory employee tax obligations upon the issuance of restricted stock units to employees. Such repurchased or withheld shares are treated as treasury stock and carried at cost on the Consolidated Balance Sheet in Stockholders’ equity. As of December 31, 2020, the Company had $0.3 million of treasury stock related to employee tax withholdings.

Share-based Payment Arrangement [Policy Text Block]

Share-based Compensation – The Company recognizes share-based compensation based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. The Company estimates grant date fair value of its options using the Black-Scholes Merton option-pricing model. Share awards are amortized under the straight-line method over the requisite service period of the entire award. The Company accounts for forfeitures as they occur.

Fair Value of Financial Instruments, Policy [Policy Text Block]

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 cash and cash equivalents, other receivables, accounts payable and accrued expenses approximate their fair value based on the short-term maturity of these instruments. Certain assets, including the equity method investment, right-of-use assets and property and equipment are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review.

As of December 31, 2020, the Company only maintained Level 1 assets and liabilities.

Debt Issuance Cost [Policy Text Block]

Debt Issuance Cost - During the first quarter of 2020, the Company paid the outstanding balance of the Delayed Draw Term Loan associated with the Fourth Amended and Restated Loan and Security Agreement and wrote down $0.6 million of the related fees to interest expense.

During the second quarter of 2020, as part of the Fifth Amended and Restated Loan and Security Agreement (as amended, the "2020 Loan Agreement"), the Company incurred an additional $0.8 million of fees associated with the debt modification, of which $0.6 million of the fees were related to the delayed draw term loan with the remaining balance relating to the revolving loan facility. The Company's policy is to record the debt issuance cost related to the delayed draw term loan, net of debt, for the portion of the delayed draw term loan that is outstanding, with the remaining amount recorded within assets. As of December 31, 2020, there was $0.9 million of debt issuance cost that were recorded to other assets and less than $0.3 million was recorded to other current assets.

The Company amortizes debt issuance costs categorized as assets on a straight-line basis over the term of the loan and amortizes the debt issuance costs that are categorized net of debt using the effective interest method, over the term of the loan.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition and Incentives – Revenues primarily consist of the sale of pet food products that are sold to retailers through broker and distributor arrangements. These revenue contracts generally have single performance obligations. Revenue, which includes shipping and handling charges billed to the customer, is reported net of applicable trade incentives and allowances. Amounts billed and due from our customers are classified as receivables and require payment on a short-term basis and, therefore, we do not have any significant financing components.

Revenue from product sales is recognized when obligations under the terms of the contract with the customer are satisfied, which occurs once control is transferred upon delivery to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods.

The amount of consideration the Company receives and revenue the Company recognizes varies with changes in trade incentives the Company offers to its customers and their consumers. Trade incentives consists primarily of customer pricing allowances and merchandising funds, and consumer coupons are offered through various programs to customers and consumers. Estimates of trade promotion expense and coupon redemption costs are based upon programs offered, timing of those offers, estimated redemption/usage rates from historical performance, management’s experience and current economic trends.

Sales taxes and other similar taxes are excluded from revenue.

There were no contract assets as of December 31, 2020 and 2019.

Information about the Company’s net sales by class of retailer is as follows:

	*Twelve Months Ended*
	*December 31,*
	(Dollars in thousands)
	*2020*		*2019*		*2018*
Grocery (including Online), Mass and Club	$	272,008	$	206,550	$	158,506
Pet Specialty and Natural		46,782		39,312		34,731
Net Sales	$	318,790	$	245,862	$	193,237

Advertising Cost [Policy Text Block]

Advertising – Advertising costs are expensed when incurred, with the exception of production costs which are expensed the first time advertising takes place. Advertising costs, consisting primarily of media ads, were $38.5 million, $34.3 million, and $29.4 million, in 2020, 2019, and 2018, respectively. As of December 31, 2020, 2019, and 2018 we had $0.1 million, $0.6 million and $0.3 million, respectively, of production cost in prepaid expense, representing advertising that had yet to take place.

Revenue Recognition, Shipping And Handling Cost [Policy Text Block]

Shipping and Handling Costs/Freight Out – Costs incurred for shipping and handling are included in selling, general, and administrative expenses within the statement of operations and comprehensive loss. Shipping and handling costs primarily consist of costs associated with moving finished products to customers, including costs associated with our distribution center and the cost of shipping products to customers through third-party carriers. Shipping and handling cost totaled $27.2 million, $19.8 million, and $15.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Research and Development Expense, Policy [Policy Text Block]

Research & Development – Research and development costs consist of expenses to develop and test new products. The costs are expensed as incurred. Research and development costs totaled $0.8 million, $1.2 million and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Disaggregation of Revenue [Table Text Block]

	*Twelve Months Ended*
	*December 31,*
	(Dollars in thousands)
	*2020*		*2019*		*2018*
Grocery (including Online), Mass and Club	$	272,008	$	206,550	$	158,506
Pet Specialty and Natural		46,782		39,312		34,731
Net Sales	$	318,790	$	245,862	$	193,237

Note 3 - Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Inventory, Current [Table Text Block]

	*December 31,*			*December 31,*
	*2020*			*2019*
		(Dollars in thousands)
Raw Materials and Work in Process	$	9,347		$	4,453
Packaging Components Material		1,872			1,419
Finished Goods		8,365			6,842
		19,584			12,715
Reserve for Obsolete Inventory		(465	)		(173	)
	$	19,119		$	12,542

Note 4 - Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Table Text Block]

	*December 31,*			*December 31,*
	*2020*			*2019*
		(Dollars in thousands)
Refrigeration Equipment	$	107,703		$	97,568
Machinery and Equipment		106,176			54,274
Building, Land, and Improvements		101,786			25,621
Furniture and Office Equipment		5,687			4,932
Leasehold Improvements		1,301			395
Automotive Equipment		160			309
Construction in Progress		44,497			58,587
		367,310			241,687
Less: Accumulated Depreciation		(86,237	)		(76,400	)
	$	281,073		$	165,288

Note 6 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	*Year Ended December 31,*
	*2020*		*2019*		*2018*
Current:		(Dollars in thousands)
Federal	$	—	$	—	$	—
State		65		144		77
International		—		—		—
	$	65	$	144	$	77

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*Year Ended December 31,*
	*2020*			*2019*			*2018*
Tax at federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal		39.2	%		36.6	%		(1.2	%)
Permanent items		284.4	%		312.2	%		(2.4	%)
Other		5.6	%		5.6	%		(0.1	%)
State rate change		0.2	%		(24	%)		15.8	%
Valuation allowance		(352.5	%)		(362.7	%)		(34.5	%)
Effective tax rate		(2.1	%)		(11.6	%)		(1.5	%)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	*Year Ended December 31,*
	*2020*			*2019*			*2018*
	(Dollars in thousands)
Net operating loss	$	60,268		$	49,626		$	45,831
Stock option expense		6,454			5,063			1,155
Property and equipment		(11,941	)		(10,372	)		(9,688	)
Other		1,194			966			552
Less: Valuation allowance		(55,975	)		(45,283	)		(37,850	)
Net deferred income tax assets	$	-		$	-		$	-

Note 7 - Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accrued Liabilities [Table Text Block]

	*2020*		*2019*
	(Dollars in thousands)
Legal Contingency	$	-	$	10,100
Accrued Compensation and Employee Related Costs		8,185		6,391
Accrued Chiller Cost		2,049		1,576
Accrued Customer Consideration		502		635
Accrued Freight		1,002		703
Accrued Production Expenses		705		414
Accrued Marketing		684		1,188
Accrued IT/Systems		805		-
Other Accrued Expenses		1,439		1,127
	$	15,371	$	22,133

Note 9 - Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Lessee, Operating Lease, Disclosure [Table Text Block]

	December 31,
	2020			2019
Weighted-average remaining lease term		5.43			6.22
Weighted-average discount rate		6.1	%		6.1	%

Lease, Cost [Table Text Block]

	For the Twelve Months Ended December 31,
	2020		2019
	(Dollars in thousands)
Operating lease cost	$	1,796	$	1,606

Schedule of Supplemental Cash Flow Information Related To Leases [Table Text Block]

	*For the Twelve Months Ended December 31,*
	*2020*		*2019*
Operating cash flow information:	*(Dollars in thousands)*
Cash paid for amounts included in the measurement of lease liabilities	$	1,707	$	1,425
Right-of-use assets obtained in exchange for lease obligations	$	18	$	724

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Operating Lease Obligations		*December 31, 2020*
	(Dollars in thousands)
2021	$	1,760
2022		1,768
2023		1,802
2024		1,511
2025 and beyond		2,786
Total lease payments	$	9,627
Less: Imputed interest		(1,231	)
Present value of lease liabilities	$	8,396

Contractual Obligation, Fiscal Year Maturity [Table Text Block]

Manufacturing and Servicing Obligations	*December 31, 2020*
		(Dollars in thousands)
2021	$	4,862
2022		3,106
2023		3,213
2024		4,783
2025 and beyond		712
Total Manufacturing and Servicing Obligations	$	16,676

Note 10 - Equity Incentive Plans and Equity (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

	*Shares*			*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		240,229		$	29.07
Granted		55,134			63.68
Issued Upon Vesting		(123,744	)		24.33
Forfeited		(1,328	)		45.32
Outstanding at December 31, 2020		170,291		$	43.60

	*Shares*		*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		-	$	-
Granted		22,894		55.54
Outstanding at December 31, 2020		22,894	$	55.54

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	*Year Ended December 31,*
	*2020*	*2019*	*2018*
Weighted average exercise price of options granted	$ 135.55	$ 48.64	$ 27.60
Expected volatility	46.9% - 51.5%	47.6% - 48.5%	48.9% - 50%
Average expected terms in years	5.8 - 7	6 - 6.6	6 - 6.6
Risk-free interest rate	0.3% - 1.69%	2.27%	2.62% - 2.96%
Expected dividend yield	0.0%	0.0%	0.0%

Performance Stock Options [Member]

Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]

Options	*Shares*			*Weighted Average Exercise Price*		*Average Remaining Contractual Term*		*Aggregate Intrinsic Value*
Outstanding at December 31, 2019		1,372,819		$	18.31
Granted		844,508			139.02
Exercised		(63,315	)		27.34
Forfeited		(35,000	)		15.65
Outstanding at December 31, 2020		2,119,012		$	66.19		7.8	$	161,231
Exercisable at December 31, 2020		1,008,964		$	11.05		5.9	$	132,110

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

	*Number of Options*			*Weighted-Average Grant-Date Fair Value Per Share*
Nonvested as of December 31, 2019		1,338,361		$	10.89
Granted		844,508			70.83
Vested		(1,037,823	)		6.97
Forfeited		(35,000	)		7.49
Nonvested as of December 31, 2020		1,110,046		$	60.25

Service Period Stock Options [Member]

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Options	*Shares*			*Weighted Average Exercise Price*		*Average Remaining Contractual Term*		*Aggregate Intrinsic Value*
Outstanding at December 31, 2019		1,359,990		$	11.50				(Dollars in thousands)
Granted		382,910			127.89
Exercised		(415,499	)		8.97
Forfeited		(357	)		11.00
Outstanding at December 31, 2020		1,327,044		$	45.88		7.0	$	128,778
Exercisable at December 31, 2020		874,153		$	10.99		5.7	$	115,520

Schedule of Nonvested Share Activity [Table Text Block]

	*Number of Options*			*Weighted-Average Grant-Date Fair Value Per Share*
Nonvested as of December 31, 2019		347,796		$	8.11
Granted		382,910			64.75
Vested		(277,458	)		6.17
Forfeited		(357	)		5.61
Nonvested as of December 31, 2020		452,891		$	57.19

Note 11 - Earnings Per Share Attributable to Common Stockholder (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	*Twelve Months Ended December 31,*
	*2020*		*2019*		*2018*
Service Period Stock Options		1,355,590		1,500,156		2,018,050
Restricted Stock Units		190,006		235,847		213,591
Performance Stock Options		1,008,960		34,482		52,536
Total		2,554,556		1,770,485		2,284,177

Note 15 - Unaudited Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Table Text Block]

	*First Quarter*			*Second Quarter*			*Third Quarter*			*Fourth Quarter*
		(Dollars in thousands except per share data)
2020:
Net sales		70,098			79,980			84,190			84,522
Income/(loss) from operations		(2,886	)		231			3,760			(3,103	)
Net Income/(loss)		(3,590	)		153			3,547			(3,298	)
Net Income/(loss) attributable to common stockholders		(3,590	)		153			3,547			(3,298	)
Basic earnings/(loss) per common share		(0.10	)		0.00			0.09			(0.08	)
Diluted earnings/(loss) per common share		(0.10	)		0.00			0.09			(0.08	)
2019:
Net sales		54,792			60,052			65,266			65,752
Income/(loss) from operations		(3,317	)		(5,346	)		3,535			4,876
Net Income/(loss)		(3,422	)		(5,661	)		3,067			4,633
Net Income/(loss) attributable to common stockholders		(3,422	)		(5,661	)		3,067			4,633
Basic earnings/(loss) per common share		(0.10	)		(0.16	)		0.09			0.13
Diluted earnings/(loss) per common share		(0.10	)		(0.16	)		0.08			0.12
2018:
Net sales		43,170			47,625			50,800			51,643
Income/(loss) from operations		(3,410	)		(3,410	)		44			1,890
Net Income/(loss)		(3,521	)		(3,501	)		(97	)		1,757
Net Income/(loss) attributable to common stockholders		(3,521	)		(3,501	)		(97	)		1,757
Basic earnings/(loss) per common share		(0.10	)		(0.10	)		(0.00	)		0.05
Diluted earnings/(loss) per common share		(0.10	)		(0.10	)		(0.00	)		0.05

Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020
Payment, Tax Withholding, Share-based Payment Arrangement		$ 2,568	$ 1,295	$ 256
Treasury Stock, Value, Ending Balance		256	256
Contract with Customer, Asset, after Allowance for Credit Loss, Total		0	0
Advertising Expense		38,500	34,300	29,400
Prepaid Advertising		100	600	300
Cost of Goods and Services Sold, Total		185,880	131,665	103,247
Research and Development Expense, Total		800	1,200	500
Shipping and Handling [Member]
Cost of Goods and Services Sold, Total		27,200	19,800	$ 15,900
Draw Term Loan [Member] \| Interest Expense [Member]
Amortization of Debt Issuance Costs	$ 600
Credit Facility [Member]
Amortization of Debt Issuance Costs		800
Debt Issuance Costs, Net, Total		1,200
Credit Facility [Member] \| Other Assets [Member]
Debt Issuance Costs, Net, Total		900
Credit Facility [Member] \| Other Current Assets [Member]
Debt Issuance Costs, Net, Total		$ 300
Credit Facility [Member] \| Draw Term Loan [Member]
Debt Issuance Costs, Net, Total	$ 100		$ 600		$ 600
Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Issuance Costs, Net, Total					$ 800
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life (Year)		7 years
Transportation Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)		5 years
Refrigeration Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)		9 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		10 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		15 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		39 years
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)		32,611	32,096	14,169
Payment, Tax Withholding, Share-based Payment Arrangement		$ 2,600	$ 1,300	$ 300

Note 1 - Nature of the Business and Summary of Significant Accounting Policies - Net Sales by Class of Retailer (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 84,522	$ 84,190	$ 79,980	$ 70,098	$ 65,752	$ 65,266	$ 60,052	$ 54,792	$ 51,643	$ 50,800	$ 47,625	$ 43,170	$ 318,790	$ 245,862	$ 193,237
Grocery (including Online), Mass and Club [Member]
Net sales													272,008	206,550	158,506
Pet Specialty and Natural [Member]
Net sales													$ 46,782	$ 39,312	$ 34,731

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Note 3 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Raw Materials and Work in Process	$ 9,347	$ 4,453
Packaging Components Material	1,872	1,419
Finished Goods	8,365	6,842
Inventory, Gross, Total	19,584	12,715
Reserve for Obsolete Inventory	(465)	(173)
Inventory, Net, Total	$ 19,119	$ 12,542

Note 4 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Depletion and Amortization, Total	$ 20.8	$ 15.6	$ 13.8
Cost of Sales [Member]
Depreciation, Depletion and Amortization, Total	$ 9.6	$ 6.4	$ 6.1

Note 4 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 367,310	$ 241,687
Less: Accumulated Depreciation	(86,237)	(76,400)
Property, Plant and Equipment, Net, Ending Balance	281,073	165,288
Refrigeration Equipment [Member]
Property, plant and equipment, gross	107,703	97,568
Machinery and Equipment [Member]
Property, plant and equipment, gross	106,176	54,274
Land, Buildings and Improvements [Member]
Property, plant and equipment, gross	101,786	25,621
Furniture and Office Equipment [Member]
Property, plant and equipment, gross	5,687	4,932
Leasehold Improvements [Member]
Property, plant and equipment, gross	1,301	395
Automotive Equipment [Member]
Property, plant and equipment, gross	160	309
Construction in Progress [Member]
Property, plant and equipment, gross	$ 44,497	$ 58,587

Note 5 - Equity Method Investment (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Sep. 02, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Payments to Acquire Equity Method Investments		$ 27,894	$ (0)	$ (0)
Equity Method Investments		27,894	$ 0
Income (Loss) from Equity Method Investments, Total		$ 0
Privately Held Company [Member]
Equity Method Investment, Ownership Percentage	19.00%
Payments to Acquire Equity Method Investments	$ 27,900
Equity Method Investments	26,600
Equity Method Investment, Aggregate Cost	$ 1,300

Note 6 - Income Taxes (Details Textual) $ in Thousands	12 Months Ended
Note 6 - Income Taxes (Details Textual) $ in Thousands	Dec. 31, 2020 USD ($)
Unrecognized Tax Benefits, Ending Balance	$ 0
Income Tax Examination, Penalties and Interest Expense, Total	0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	239,800
Operating Loss Carryforwards, Subject to Expiration	175,000
Operating Loss Carryforwards, Not Subject to Expiration	64,400
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Subject to Expiration	189,800
Operating Loss Carryforwards, Not Subject to Expiration	$ 10,000

Note 6 - Income Taxes - Components of Income Tax Expense Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal	$ 0	$ 0	$ 0
State	65	144	77
International	0	0	0
Current Income Tax Expense (Benefit), Total	$ 65	$ 144	$ 77

Note 6 - Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Tax at federal statutory rate	21.00%	21.00%	21.00%
State taxes, net of federal	39.20%	36.60%	(1.20%)
Permanent items	284.40%	312.20%	(2.40%)
Other	5.60%	5.60%	(0.10%)
State rate change	0.20%	(24.00%)	15.80%
Valuation allowance	(352.50%)	(362.70%)	(34.50%)
Effective tax rate	(2.10%)	(11.60%)	(1.50%)

Note 6 - Income Taxes - Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net operating loss	$ 60,268	$ 49,626	$ 45,831
Stock option expense	6,454	5,063	1,155
Property and equipment	(11,941)	(10,372)	(9,688)
Other	1,194	966	552
Less: Valuation allowance	(55,975)	(45,283)	(37,850)
Net deferred income tax assets	$ 0	$ 0	$ 0

Note 7 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Legal Contingency	$ 0	$ 10,100
Accrued Compensation and Employee Related Costs	8,185	6,391
Accrued Chiller Cost	2,049	1,576
Accrued Customer Consideration	502	635
Accrued Freight	1,002	703
Accrued Production Expenses	705	414
Accrued Marketing	684	1,188
Accrued IT/Systems	805	0
Other Accrued Expenses	1,439	1,127
Accrued Liabilities, Current, Total	$ 15,371	$ 22,133

Note 8 - Debt (Details Textual) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
Note 8 - Debt (Details Textual) - USD ($) $ in Thousands	Apr. 17, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 15, 2019
Proceeds from Lines of Credit, Total				$ 20,933	$ 72,291	$ 6,000
Repayments of Lines of Credit				76,000	18,500	6,000
Interest Expense, Debt, Total				1,200	1,000	200
Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity	$ 165,000
Long-term Debt, Total			$ 76,000	0	54,500
Proceeds from Debt Agreement			20,900
Debt Issuance Costs, Net, Total				1,200
Repayments of Lines of Credit		$ 76,000
Amortization of Debt Issuance Costs				800
Interest Payable, Current				$ 100	300	$ 100
Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Credit Facility [Member] \| Revolving Credit Facility [Member]
Long-term Debt, Total					14,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 35,000						$ 35,000
Debt Issuance Costs, Net, Total		800
Proceeds from Lines of Credit, Total			7,000
Credit Facility [Member] \| Draw Term Loan [Member]
Long-term Debt, Total	$ 130,000				40,500		$ 55,000
Proceeds from Issuance of Long-term Debt, Total			13,900
Debt Issuance Costs, Net, Total		$ 600	$ 100		$ 600

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020
Lessee, Operating Lease, Renewal Term (Year)		5 years
Operating Leases, Rent Expense, Total	$ 0.7
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)		2 years
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)		9 years

Note 9 - Commitments and Contingencies - Operating Leases Of Lessee Disclosure (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted-average remaining lease term (Year)	5 years 5 months 4 days	6 years 2 months 19 days
Weighted-average discount rate	6.10%	6.10%

Note 9 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost	$ 1,796	$ 1,606

Note 9 - Commitments and Contingencies - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$ 1,707	$ 1,425
Right-of-use assets obtained in exchange for lease obligations	$ 18	$ 724

Note 9 - Commitments and Contingencies - Lessee Operating Lease Liability Maturity (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 1,760
2022	1,768
2023	1,802
2024	1,511
2025 and beyond	2,786
Total lease payments	9,627
Less: Imputed interest	(1,231)
Present value of lease liabilities	$ 8,396

Note 9 - Commitments and Contingencies - Contractual Obligation Fiscal Year Maturity Schedule (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 4,862
2022	3,106
2023	3,213
2024	4,783
2025 and beyond	712
Total Manufacturing and Servicing Obligations	$ 16,676

Note 10 - Equity Incentive Plans and Equity (Details Textual) - USD ($) $ / shares in Units, Pure in Thousands, $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2016	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Nov. 30, 2014	Dec. 31, 2012	Dec. 31, 2010
Share-based Payment Arrangement, Expense				$ 10.9	$ 7.8	$ 6.8
Share-based Payment Arrangement, Expensed and Capitalized, Amount, Total				$ 0.2	$ 0.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 68.93	$ 24.24	$ 14.27
Executive Vice President [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			15,000
Service Period Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)				874,153
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				382,910
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value				$ 48.8	$ 18.4	$ 7.3
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				$ 24.7
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 64.75
Service Period Stock Options [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				$ 5.9
Service Period Stock Options [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				5.7
Service Period Stock Options [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				4.9
Service Period Stock Options [Member] \| Share-based Payment Arrangement, Tranche Four [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				$ 8.2
Service Period Stock Options [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)							500,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate				0.00%	0.00%	0.00%
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 4.0
Restricted Stock Units (RSUs) [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				2.6
Restricted Stock Units (RSUs) [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				1.2
Restricted Stock Units (RSUs) [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 0.2
Performance Stock Options [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)							500,000
Performance Stock Options With Probable Vesting Criteria [Member]
Unrecognized Compensation Costs, Performance Based Awards (in shares)				861,047
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 44.2
Performance Stock Options With Probable Vesting Criteria [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				12.5
Performance Stock Options With Probable Vesting Criteria [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				11.8
Performance Stock Options With Probable Vesting Criteria [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				10.3
Performance Stock Options With Probable Vesting Criteria [Member] \| Share-based Payment Arrangement, Tranche Four [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 9.6
Performance Stock Options Deemed Not Probable To Vest [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercises in Period (in shares)				248,999
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value				$ 18.2
Performance Based Restricted Stock Units [Member]
Unrecognized Compensation Costs, Performance Based Awards (in shares)				22,894
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 2.4
Performance Based Restricted Stock Units [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				0.8
Performance Based Restricted Stock Units [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				0.8
Performance Based Restricted Stock Units [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 0.8
The 2010 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)									2,220,280	2,146,320
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)				26,130
The 2010 Stock Plan [Member] \| Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				10 years
Stock Plan 2010 [Member] \| Service Period Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
Omnibus Incentive Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		3,979,200		2,610,490				1,479,200
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	700,000	2,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	4,679,200
Common Stock, Capital Shares Reserved for Future Issuance (in shares)				908,433
Omnibus Incentive Plan 2014 [Member] \| Service Period Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Omnibus Incentive Plan 2014 [Member] \| Service Period Stock Options [Member] \| Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Omnibus Incentive Plan 2014 [Member] \| Restricted Stock Units (RSUs) [Member] \| Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				1 year
Cost of Sales [Member]
Share-based Payment Arrangement, Expense				$ 2.1	$ 0.9	$ 0.9
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expense				$ 8.8	$ 6.9	$ 5.9

Note 10 - Equity Incentive Plans and Equity - Stock Options Activity (Details) - Service Period Stock Options [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Balance (in shares) \| shares	1,359,990
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) \| shares	382,910
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 127.89
Exercised (in shares) \| shares	(415,499)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 8.97
Forfeited (in shares) \| shares	(357)
Forfeited, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.00
Balance (in shares) \| shares	1,327,044
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 45.88
Balance, average remaining contractual term (Year)	7 years
Balance, aggregate intrinsic value \| $	$ 128,778
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) \| shares	874,153
Exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 10.99
Exercisable, average remaining contractual term (Year)	5 years 8 months 12 days
Exercisable, aggregate intrinsic value \| $	$ 115,520

Note 10 - Equity Incentive Plans and Equity - Nonvested Stock Options Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 68.93	$ 24.24	$ 14.27
Service Period Stock Options [Member]
Balance (in shares)	347,796
Balance, weighted average grant date fair value (in dollars per share)	$ 8.11
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	382,910
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 64.75
Vested (in shares)	(277,458)
Vested, weighted average grant date fair value (in dollars per share)	$ 6.17
Forfeited (in shares)	(357)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 5.61
Balance (in shares)	452,891	347,796
Balance, weighted average grant date fair value (in dollars per share)	$ 57.19	$ 8.11

Note 10 - Equity Incentive Plans and Equity - Share Based Compensation Performance Shares Award Outstanding (Details) - Performance Shares [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Balance (in shares) \| shares	1,372,819
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 18.31
Granted (in shares) \| shares	844,508
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 139.02
Exercised (in shares) \| shares	(63,315)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 27.34
Forfeited (in shares) \| shares	(35,000)
Forfeited, weighted average exercise price (in dollars per share) \| $ / shares	$ 15.65
Balance (in shares) \| shares	2,119,012
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 66.19
Balance, average remaining contractual term (Year)	7 years 9 months 18 days
Balance, aggregate instrinsic value \| $	$ 161,231
Exercisable (in shares) \| shares	1,008,964
Exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.05
Exercisable, average remaining contractual term (Year)	5 years 10 months 24 days
Exercisable, aggregate instrinsic value \| $	$ 132,110

Note 10 - Equity Incentive Plans and Equity - Nonvested Performance Based Units Activity (Details) - Performance Stock Options [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Balance (in shares) \| shares	1,338,361
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 10.89
Granted (in shares) \| shares	844,508
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 70.83
Vested (in shares) \| shares	(1,037,823)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 6.97
Forfeited (in shares) \| shares	(35,000)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 7.49
Balance (in shares) \| shares	1,110,046
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 60.25

Note 10 - Equity Incentive Plans and Equity - Restricted Stock Units Award Activity (Details)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Balance (in shares) \| shares	240,229
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 29.07
Granted (in shares) \| shares	55,134
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 63.68
Vested (in shares) \| shares	(123,744)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 24.33
Forfeited (in shares) \| shares	(1,328)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 45.32
Balance (in shares) \| shares	170,291
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 43.60
Performance Based Restricted Stock Units [Member]
Balance (in shares) \| shares	0
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0
Granted (in shares) \| shares	22,894
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 55.54
Balance (in shares) \| shares	22,894
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 55.54

Note 10 - Equity Incentive Plans and Equity - Schedule Of Share Based Payment Award Stock Options Valuation Assumptions (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Granted, weighted average exercise price (in dollars per share)	$ 135.55	$ 48.64	$ 27.60
Expected volatility	46.90%	47.60%	48.90%
Expected volatility	51.50%	48.50%	50.00%
Risk-free interest rate		2.27%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%
Minimum [Member]
Average expected terms in years (Year)	5 years 9 months 18 days	6 years	6 years
Risk-free interest rate	0.30%		2.62%
Maximum [Member]
Average expected terms in years (Year)	7 years	6 years 7 months 6 days	6 years 7 months 6 days
Risk-free interest rate	1.69%		2.96%

Note 11 - Earnings Per Share Attributable to Common Stockholder (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Preferred Stock Dividends and Other Adjustments, Total	$ 0	$ 0	$ 0

Note 11 - Earnings Per Share Attributable to Common Stockholder - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities (in shares)	2,554,556	1,770,485	2,284,177
Service Period Stock Options [Member]
Antidilutive Securities (in shares)	1,355,590	1,500,156	2,018,050
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities (in shares)	190,006	235,847	213,591
Performance Stock Options [Member]
Antidilutive Securities (in shares)	1,008,960	34,482	52,536

Note 12 - Retirement Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1.4	$ 1.1	$ 0.8
Maximum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	50.00%

Note 13 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands, shares in Millions		12 Months Ended
	Jun. 10, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Ownership Interest, Shares Sold By Related Party Entity (in shares)	3.3
Related Party Transaction, Amounts of Transaction		$ 0	$ 1,500	$ 700

Note 14 - Concentrations (Details Textual)	12 Months Ended
Note 14 - Concentrations (Details Textual)	Dec. 31, 2020 USD ($)	Dec. 31, 2019	Dec. 31, 2018
Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Number Of Distributors	1	1	1
Number of Major Customers	0	1	0
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| One Distributor [Member]
Concentration Risk, Percentage	18.00%	17.00%	16.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Number Of Distributors	1	1
Number of Major Customers	2	2
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer One[Member]
Concentration Risk, Percentage	8.00%	19.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer Two [Member]
Concentration Risk, Percentage	23.00%	19.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Customer Three [Member]
Concentration Risk, Percentage	20.00%	14.00%
Supplier Concentration Risk [Member] \| Cost of Goods and Service, Product and Service Benchmark [Member] \| Raw Materials [Member]
Concentration Risk, Percentage	23.00%	27.00%	17.00%
Number of Vendors	1	1	1
Supplier Concentration Risk [Member] \| Cost of Goods and Service, Product and Service Benchmark [Member] \| Packaging Materials [Member]
Concentration Risk, Percentage	88.00%	80.00%	81.00%
Number of Vendors	5	3	3
Maximum [Member]
Cash, FDIC Insured Amount	$ 250,000

Note 15 - Unaudited Quarterly Results - Schedule of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 84,522	$ 84,190	$ 79,980	$ 70,098	$ 65,752	$ 65,266	$ 60,052	$ 54,792	$ 51,643	$ 50,800	$ 47,625	$ 43,170	$ 318,790	$ 245,862	$ 193,237
Income/(loss) from operations	(3,103)	3,760	231	(2,886)	4,876	3,535	(5,346)	(3,317)	1,890	44	(3,410)	(3,410)	(1,998)	(253)	(4,886)
Net Income/(loss)	(3,298)	3,547	153	(3,590)	4,633	3,067	(5,661)	(3,422)	1,757	(97)	(3,501)	(3,521)	$ (3,188)	$ (1,383)	$ (5,361)
Net Income/(loss) attributable to common stockholders	$ (3,298)	$ 3,547	$ 153	$ (3,590)	$ 4,633	$ 3,067	$ (5,661)	$ (3,422)	$ 1,757	$ (97)	$ (3,501)	$ (3,521)
Basic earnings/(loss) per common share (in dollars per share)	$ (0.08)	$ 0.09	$ 0.00	$ (0.10)	$ 0.13	$ 0.09	$ (0.16)	$ (0.10)	$ 0.05	$ (0.00)	$ (0.10)	$ (0.10)	$ (0.08)	$ (0.04)	$ (0.15)
Diluted earnings/(loss) per common share (in dollars per share)	$ (0.08)	$ 0.09	$ 0.00	$ (0.10)	$ 0.12	$ 0.08	$ (0.16)	$ (0.10)	$ 0.05	$ (0.00)	$ (0.10)	$ (0.10)	$ (0.08)	$ (0.04)	$ (0.15)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.