Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 78

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 $34.6 million for the nine months ended June 30, 2025, an increase of $9.7 million, or 39.0%, compared to net income of $24.9 million for the nine months ended June 30, 2024.

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			EBITDA. Earnings before interest, taxes, depreciation, and amortization (EBITDA) was $23.5 million for the three months ended June 30, 2025, an increase of $2.8 million, or 13.8%, compared to $20.7 million for the three months ended June 30, 2024. EBITDA was $70.3 million for the nine months ended June 30, 2025, an increase of $12.4 million, or 21.4%, compared to $57.9 million for the nine months ended June 30, 2024. EBITDA is not a measure of financial performance under GAAP. Refer to the “Non-GAAP Financial Measures” section in this MD&A for a definition of EBITDA and a reconciliation of net income to EBITDA.

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			Adjusted EBITDA. Adjusted EBITDA was $24.4 million for the three months ended June 30, 2025, an increase of $2.2 million, or 10.1%, compared to $22.2 million for the three months ended June 30, 2024. Adjusted EBITDA was $73.5 million for the nine months ended June 30, 2025, an increase of $12.9 million, or 21.2%, compared to $60.6 million for the nine months ended June 30, 2024. Adjusted EBITDA is not a measure of financial performance under GAAP. Refer to the “Non-GAAP Financial Measures” section in this MD&A for a definition of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA.

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			Liquidity. As of June 30, 2025, cash and cash equivalents was $13.2 million, and there was $69.5 million available for borrowing under our Credit Facility, net of undrawn, issued and outstanding letters of credit of $3.0 million.

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