Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 584

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 7A
Chunk 584
---
	Accounts payable

			$
			80,991

			88,397

			Accrued expenses

			37,236

			35,847

			Operating lease obligations, current portion

			36,495

			35,926

			Finance lease obligations, current portion

			4,061

			3,960

			Total current liabilities

			158,783

			164,130

			Long-term liabilities:

			Operating lease obligations, net of current portion

			245,803

			263,404

			Finance lease obligations, net of current portion

			45,660

			43,217

			Deferred income tax liabilities, net

			7,863

			10,471

			Total long-term liabilities

			299,326

			317,092

			Total liabilities

			458,109

			481,222

			Commitments (Notes 12 and 19)

			Stockholders’ equity:

			Common stock, $0.001 par value. 50,000,000 shares authorized, 22,954,712 and 22,888,540 shares issued and outstanding at September 30, 2025 and 2024, respectively

			23

			23

			Additional paid-in capital

			63,033

			60,327

			Retained earnings

			149,339

			113,904

			Total stockholders’ equity

			212,395

			174,254

			Total liabilities and stockholders’ equity

			$
			670,504

			655,476

See accompanying notes to consolidated financial statements.

59

NATURAL GROCERS BY VITAMIN COTTAGE, INC.

Consolidated Statements of Income

(Dollars in thousands, except per share data)

			Year ended September 30,

			2025

			2024

			2023

			Net sales

			$
			1,330,836

			1,241,585

			1,140,568

			Cost of goods sold and occupancy costs

			932,959

			876,775

			813,637

			Gross profit

			397,877

			364,810