Company: NGVC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001437749-25-003026
Chunk: 57

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 and 2023, dollars in thousands and as a percentage of net sales:

			Three months ended

			December 31,

			2024

			2023

			Grocery

			$
			236,624

			72
			
			%

			212,135

			70
			%

			Dietary supplements

			61,531

			18

			59,974

			20

			Body care, pet care and other

			32,066

			10

			29,641

			10

			$
			330,221

			100
			
			%

			301,750

			100
			%

4. Earnings Per Share

Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s granted but unvested restricted stock units (RSUs) were to vest, resulting in the issuance of common stock that would then share in the earnings of the Company.

The following table presents the Company’s basic and diluted EPS for the three months ended December 31, 2024 and 2023, dollars in thousands, except per share data:

			Three months ended

			December 31,

			2024

			2023

			Net income

			$
			9,938

			7,755

			Weighted average number of shares of common stock outstanding

			22,903,569

			22,751,524

			Effect of dilutive securities

			264,495

			228,220

			Weighted average number of shares of common stock outstanding including effect of dilutive securities

			23,168,064

			22,979,744

			Basic earnings per share

			$
			0.43

			0.34

			Diluted earnings per share

			$
			0.43

			0.34

There were 186,672 and 34,220 non-vested RSUs for the three months ended December 31, 2024 and 2023, respectively, excluded from the calculation of diluted EPS as they were antidilutive.

9

5. Debt