Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 54

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 liabilities

			302,004

			317,092

			Total liabilities

			456,496

			481,222

			Commitments (Notes 7 and 14)

			Stockholders’ equity:

			Common stock, $0.001 par value, 50,000,000 shares authorized, 22,954,109 and 22,888,540 shares issued and outstanding at June 30, 2025 and September 30, 2024, respectively

			23

			23

			Additional paid-in capital

			62,185

			60,327

			Retained earnings

			140,293

			113,904

			Total stockholders’ equity

			202,501

			174,254

			Total liabilities and stockholders’ equity

			$
			658,997

			655,476

See accompanying notes to unaudited interim consolidated financial statements.

4

Table of Contents

NATURAL GROCERS BY VITAMIN COTTAGE, INC.

Consolidated Statements of Income

(Unaudited)

(Dollars in thousands, except per share data)

			Three months ended
			June 30,

			Nine months ended
			June 30,

			2025

			2024

			2025

			2024

			Net sales

			$
			328,705

			309,082

			994,695

			918,924

			Cost of goods sold and occupancy costs

			230,426

			218,751

			695,844

			649,476

			Gross profit

			98,279

			90,331

			298,851

			269,448

			Store expenses

			71,719

			67,575

			218,000

			204,791

			Administrative expenses

			10,949

			9,545

			33,486

			28,474

			Pre-opening expenses

			24

			364

			877

			1,272

			Operating income

			15,587

			12,847

			46,488

			34,911

			Interest expense, net