Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 888

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1
Chunk 888
---
)

			Balances at September 30, 2023

			22,738,915

			23

			59,013

			111,871

			(66
			)

			170,841

			Net income

			—

			—

			—

			33,935

			—

			33,935

			Share-based compensation

			—

			—

			1,314

			—

			66

			1,380

			Issuance of common stock

			149,625

			—

			—

			—

			—

			—

			Adoption of accounting standard

			—

			—

			—

			(36
			)

			—

			(36
			)

			Cash dividends

			—

			—

			—

			(31,866
			
			)

			—

			(31,866
			
			)

			Balances at September 30, 2024

			22,888,540

			23

			60,327

			113,904

			—

			174,254

			Net income

			—

			—

			—

			46,444

			—

			46,444

			Share-based compensation

			—

			—

			2,706

			—

			—

			2,706

			Issuance of common stock

			66,172

			—

			—

			—

			—

			—

			Cash dividends

			—

			—

			—

			(11,009
			
			)

			—

			(11,009
			
			)

			Balances at September 30, 2025

			22,954,712

			$
			23

			$
			63,033

			$
			149,339

			$
			—

			$
			
			212,395

See accompanying notes to consolidated financial statements.

62

NATURAL GROCERS BY VITAMIN COTTAGE, INC.

Notes to Consolidated Financial Statements

September 30, 2025 and 2024

1. Organization

Nature of Business

Natural Grocers by Vitamin Cottage, Inc