Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 292

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 2
Chunk 292
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 stockholders of record as of the close of business on December 1, 2025.

We plan to continue to open new stores and relocate/remodel existing stores in the future, which may require us to borrow additional amounts under the Credit Facility from time to time. We believe that cash and cash equivalents, together with the cash generated from operations and the borrowing availability under our Credit Facility, will be sufficient to meet our working capital needs and planned capital expenditures, including capital expenditures related to new store needs, repayment of debt, stock repurchases and dividends for the next 12 months and the foreseeable future. Our working capital position benefits from the fact that we generally collect cash from sales to customers the same day or, in the case of credit or debit card transactions, within days from the related sale.

The following is a summary of our operating, investing and financing activities for the periods presented, dollars in thousands:

			Year ended September 30,

			2025

			2024

			Net cash provided by operating activities

			$
			55,304

			73,760

			Net cash used in investing activities

			(30,971
			)

			(38,600
			)

			Net cash used in financing activities

			(16,088
			)

			(44,631
			)

			Net increase (decrease) in cash and cash equivalents

			8,245

			(9,471
			)

			Cash and cash equivalents, beginning of year

			8,871

			18,342

			Cash and cash equivalents, end of year

			$
			17,116

			8,871

Year ended September 30, 2025 compared to Year ended September 30, 2024

Operating Activities

Net cash provided by operating activities consists primarily of net income adjusted for non-cash items, including depreciation and amortization, impairment of long-lived assets and store closures, share-based compensation and changes in deferred taxes, and the effect of changes in operating assets and liabilities. Cash provided by operating activities decreased $18.5 million, or 25.0%, to $55.3 million for the year ended September 30, 2025 compared to $73.8 million for the year ended September 30, 2024. The decrease in cash provided by operating activities was due to a decrease in cash provided by operating assets and