Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 62

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 Company’s gift cards are recorded as a liability at the time of sale and recognized as revenue when the gift cards are redeemed by the customer and the performance obligation is satisfied by the Company.

9

The balance of contract liabilities related to unredeemed gift cards was $1.7 million and $1.5 million as of June 30, 2025 and September 30, 2024, respectively. Revenue for the three months ended June 30, 2025 and 2024 includes $0.1 million and less than $0.1 million, respectively, that was included in the contract liability balance of unredeemed gift cards at September 30, 2024 and 2023, respectively. Revenue for the nine months ended June 30, 2025 and 2024 includes approximately $0.7 million and $0.5 million, respectively, that was included in the contract liability balance of unredeemed gift cards at September 30, 2024 and 2023, respectively.

Rewards program points are accrued as deferred revenue at the retail value per point, net of estimated breakage based on historical redemption rates experienced within the rewards program. Rewards points are forfeited at the end of each calendar year.

The following table disaggregates the Company’s revenue by product category for the three and nine months ended June 30, 2025 and 2024, dollars in thousands and as a percentage of net sales:

			Three months ended

			June 30,

			Nine months ended

			June 30,

			2025

			2024

			2025

			2024

			Grocery

			$
			235,286

			72
			
			%

			219,040

			71

			710,432

			71

			648,295

			70

			Dietary supplements

			61,988

			19

			59,966

			19

			189,718

			19

			181,890

			20

			Body care, pet care and other

			31,431

			9

			30,076

			10

			94,545

			10

			88,739

			10

			$
			328,705

			100
			
			%

			309,082

			100