BranchOut Food Inc. filed an 8-K on January 30, 2026 disclosing two major commercial wins that could increase revenue by 178% if performance targets are met.

The filing reveals a private label program with what the company describes as the "world's largest retailer" — language consistent with Walmart — targeting $10 million in incremental annualized revenue beginning in H2 2026. The program centers on 9 SKUs of shelf-stable cheesecake, representing what management characterizes as a first-of-its-kind innovation in the dairy snacks category.

Separately, the company disclosed a new warehouse club customer with a $2 million initial order and potential for $15 million in annual recurring revenue if the product meets specified performance thresholds upon its May 2026 launch.

Combined, these programs represent $25 million in potential incremental revenue against BranchOut's 2025 revenue base of $14 million (up 113% year-over-year). The company reported Q4 2025 revenue of $4.2 million, a 178% year-over-year increase.

The filing also details margin recovery dynamics: gross margin improved from 16% to a normalized 25% following elimination of China tariffs and reduction of air freight. Management projects incremental contribution margins exceeding 50% as the company approaches breakeven.

A fourth REV production line is scheduled to become operational in March 2026, expanding capacity into dairy and high-protein categories. The MicroDried segment is projected to generate $5-6 million in revenue during 2026, including $1.8 million from a new international CPG customer.

Working capital remains a constraint: the company is raising up to $1.5 million through an at-the-market offering to fund growth, citing a four-month cash conversion cycle. However, insider Robert Kaufman voluntarily converted $500,000 of convertible debt into equity on January 28, 2026 — two days before this filing — representing the second such conversion following a $1 million debt-to-equity conversion in June 2025.

The filing provides specific order values, SKU counts, and timing for both the warehouse club and private label programs, offering quantifiable milestones for tracking execution through the first and second half of 2026.