Company: NGVC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001437749-25-003026
Chunk: 3

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
10,471

			Total long-term liabilities

			316,876

			317,092

			Total liabilities

			467,003

			481,222

			Commitments (Notes 7 and 14)

			Stockholders’ equity:

			Common stock, $0.001 par value, 50,000,000 shares authorized, 22,931,226 and 22,888,540 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively

			23

			23

			Additional paid-in capital

			60,760

			60,327

			Retained earnings

			121,093

			113,904

			Total stockholders’ equity

			181,876

			174,254

			Total liabilities and stockholders’ equity

			$
			648,879

			655,476

See accompanying notes to unaudited interim consolidated financial statements.

3

Table of Contents

NATURAL GROCERS BY VITAMIN COTTAGE, INC.

Consolidated Statements of Income

(Unaudited)

(Dollars in thousands, except per share data)

			Three months ended
			December 31,

			2024

			2023

			Net sales

			$
			330,221

			301,750

			Cost of goods sold and occupancy costs

			231,397

			212,990

			Gross profit

			98,824

			88,760

			Store expenses

			73,526

			68,012

			Administrative expenses

			11,514

			9,407

			Pre-opening expenses

			436

			538

			Operating income

			13,348

			10,803

			Interest expense, net

			(923
			
			)

			(894
			
			)

			Income before income taxes

			12,425

			9,909

			Provision for income taxes

			(2,487
			
			)

			(2,154
			
			)

			Net income

			$
			9,938

			7,755

			Net income per share of common stock:

			Basic