Lifeway Foods Files Q3 2024 10-Q Report

TL;DR

Lifeway Foods Q3 2024 10-Q filed. Financials for Sept 30, 2024, vs. 2023 out.

AI Summary

Lifeway Foods, Inc. filed its Q3 2024 10-Q report on November 14, 2024, covering the period ending September 30, 2024. The filing details the company's financial performance and position for the third quarter and the year-to-date. Specific financial figures for revenue, net income, and balance sheet items are presented for the periods ending September 30, 2024, and September 30, 2023.

Why It Matters

This report provides investors and stakeholders with a detailed look at Lifeway Foods' financial health and operational performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024)
• September 30, 2024 — As of Date (End date for the reported financial period)
• September 30, 2023 — Comparative Period (Used for year-over-year financial comparisons)

Key Players & Entities

• Lifeway Foods, Inc. (company) — Filer of the 10-Q report
• 0001683168-24-008025 (other) — Accession Number for the filing
• 20240930 (date) — Conformed period of report
• 20241114 (date) — Filing date

FAQ

Key Financial Figures

• $11.25 m — l covenant, as defined, of no less than $11.25 million, in each of the fiscal quarters e

Filing Documents

• lifeway_i10q-093024.htm (10-Q) — 780KB
• lifeway_ex0301.htm (EX-3.1) — 50KB
• lifeway_ex3101.htm (EX-31.1) — 10KB
• lifeway_ex3102.htm (EX-31.2) — 10KB
• lifeway_ex3201.htm (EX-32.1) — 4KB
• lifeway_ex3202.htm (EX-32.2) — 4KB
• lifeway_ex9901.htm (EX-99.1) — 95KB
• 0001683168-24-008025.txt ( ) — 4502KB
• lway-20240930.xsd (EX-101.SCH) — 30KB
• lway-20240930_cal.xml (EX-101.CAL) — 54KB
• lway-20240930_def.xml (EX-101.DEF) — 129KB
• lway-20240930_lab.xml (EX-101.LAB) — 305KB
• lway-20240930_pre.xml (EX-101.PRE) — 248KB
• lifeway_i10q-093024_htm.xml (XML) — 590KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 26 Item 4.

Controls and Procedures

Controls and Procedures. 26

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 27 Item 1A. Risk Factors. 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 27 Item 3. Defaults Upon Senior Securities. 27 Item 5. Other Information. 27 Item 6. Exhibits. 27 Signatures. 28 2

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. LIFEWAY FOODS, INC. AND SUBSIDIARIES Consolidated Balance Sheets September 30, 2024 and December 31, 2023 (In thousands) September 30, 2024 December 31, (Unaudited) 2023 Current assets Cash and cash equivalents $ 20,558 $ 13,198 Accounts receivable, net of allowance for credit losses and discounts & allowances of $ 1,320 and $ 1,270 at September 30, 2024 and December 31, 2023 respectively 13,495 13,875 Inventories, net 8,441 9,104 Prepaid expenses and other current assets 1,893 2,019 Refundable income taxes 379 – Total current assets 44,766 38,196 Property, plant and equipment, net 26,310 22,764 Operating lease right-of-use asset 136 192 Goodwill 11,704 11,704 Intangible assets, net 6,493 6,898 Other assets 1,900 1,900 Total assets $ 91,309 $ 81,654 Current liabilities Current portion of note payable $ – $ 1,250 Accounts payable 11,117 9,976 Accrued expenses 5,589 4,916 Accrued income taxes – 474 Total current liabilities 16,706 16,616 Note payable – 1,483 Operating lease liabilities 79 118 Deferred income taxes, net 3,001 3,001 Total liabilities 19,786 21,218 Commitments and contingencies (Note 9) – Stockholders' equity Preferred stock, no par value; 2,500 shares authorized; no shares issued or outstanding at September 30, 2024 and December 31, 2023 – – Common stock, no par value; 40,000 shares authorized; 17,274 shares issued; 14,816 and 14,691 outstanding at September 30, 2024 and December 31, 2023, respectively 6,509 6,509 Paid-in capital 5,915 4,825 Treasury stock, at cost ( 15,883 ) ( 16,695 ) Retained earnings 74,982 65,797 Total stockholders' equity 71,523 60,436 Total liabilities and stockholders' equity $ 91,309 $ 81,654 See accompanying notes to consolidated financial 3 LIFEWAY FOODS, INC. AND SUBSIDIARIES Consolidated Statements of Operations For the three and nine months

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) (In thousands, except per share data) Note 1 – Basis of Presentation The accompanying unaudited consolidated financial financial information, and do not include certain information and footnote disclosures required for complete, audited financial statements. In the opinion of management, these statements include all adjustments necessary for a fair presentation of the results of all interim periods reported herein. The consolidated financial statements and related notes should be read in conjunction with the consolidated financial Inc. (together with all of its wholly-owned subsidiaries unless the context otherwise requires, the "Company"). Results of operations for any interim period are not necessarily indicative of future or annual results. Principles of consolidation The consolidated financial statements include the accounts of Lifeway Foods, Inc. and all its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Note 2 – Summary of Significant Accounting Policies Our significant accounting policies, which are summarized in detail in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, have not materially changed. The following is a description of certain of our significant accounting policies. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during

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