Natural Grocers Files Q1 2025 10-Q

TL;DR

NGVC Q1 2025 10-Q filed. Financials and ops update.

AI Summary

Natural Grocers by Vitamin Cottage, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported on its financial performance for the first quarter of fiscal year 2025. Key financial details and operational updates are provided in this filing.

Why It Matters

This filing provides investors with an update on Natural Grocers' financial health and operational performance, crucial for understanding the company's trajectory in the grocery sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Natural Grocers by Vitamin Cottage, Inc. (company) — Filer
• 2024-12-31 (date) — Period of Report
• 2025-02-06 (date) — Filed as of Date
• LAKEWOOD, CO (location) — Business Address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value NGVC New York Stock Excha

Filing Documents

• ngvc20241231_10q.htm (10-Q) — 869KB
• ex_772853.htm (EX-31.1) — 12KB
• ex_772854.htm (EX-31.2) — 12KB
• ex_772856.htm (EX-31.3) — 12KB
• ex_772855.htm (EX-32.1) — 7KB
• ngvc.jpg (GRAPHIC) — 6KB
• 0001437749-25-003026.txt ( ) — 5037KB
• ngvc-20241231.xsd (EX-101.SCH) — 49KB
• ngvc-20241231_def.xml (EX-101.DEF) — 337KB
• ngvc-20241231_lab.xml (EX-101.LAB) — 292KB
• ngvc-20241231_pre.xml (EX-101.PRE) — 366KB
• ngvc-20241231_cal.xml (EX-101.CAL) — 56KB
• ngvc20241231_10q_htm.xml (XML) — 687KB

Financial Information

PART I. Financial Information Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets as of December 31, 2024 and September 30, 2024 (unaudited) 3 Consolidated Statements of Income for the three months ended December 31, 2024 and 2023 (unaudited) 4 Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023 (unaudited) 5 Consolidated Statements of Changes in Stockholders' Equity for the three months ended December 31, 2024 and 2023 (unaudited) 6 Notes to Unaudited Interim Consolidated Financial Statements 7 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 17 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

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 1 Table of Contents Except where the context otherwise requires or where otherwise indicated: (i) all references herein to we, '' us, '' our, '' Natural Grocers '' and the " Company '' refer collectively to Natural Grocers by Vitamin Cottage, Inc. and its consolidated subsidiaries and (ii) all references to a " fiscal year " refer to a year beginning on October 1 of the previous year and ending on September 30 of such year (for example, " fiscal year 2025 " refers to the year from October 1, 2024 to September 30, 2025).

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q (this Form 10-Q) includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 in addition to historical information. These forward-looking statements are included throughout this Form 10-Q, including in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations." All statements that are not statements of historical fact, including those that relate to matters such as our industry, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, future growth, pending legal proceedings and other financial and operating information, are forward-looking statements. We may use the words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "target" and similar terms and phrases to identify forward-looking statements in this Form 10-Q. The forward-looking statements contained in this Form 10-Q are based on management's current expectations and are subject to uncertainty and changes in circumstances. We cannot assure you that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations due to changes in global, national, regional or local political, economic, inflationary, deflationary, recessionary, business, interest rate, labor market, competitive, market, regulatory, trade policy and other factors, many of which are beyond our control. We believe that these factors include those referenced in Item 1A - "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 (the Form 10-K). Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual resu

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements NATURAL GROCERS BY VITAMIN COTTAGE, INC. Consolidated Balance Sheets (Unaudited) (Dollars in thousands, except per share data) December 31, 2024 September 30, 2024 Assets Current assets: Cash and cash equivalents $ 6,316 8,871 Accounts receivable, net 11,895 12,610 Merchandise inventory 121,820 120,672 Prepaid expenses and other current assets 4,494 4,905 Total current assets 144,525 147,058 Property and equipment, net 181,942 178,609 Other assets: Operating lease assets, net 268,226 275,111 Finance lease assets, net 39,674 40,752 Other assets 1,440 458 Goodwill and other intangible assets, net 13,072 13,488 Total other assets 322,412 329,809 Total assets $ 648,879 655,476 Liabilities and Stockholders ' Equity Current liabilities: Accounts payable $ 75,581 88,397 Accrued expenses 34,560 35,847 Operating lease obligations, current portion 35,974 35,926 Finance lease obligations, current portion 4,012 3,960 Total current liabilities 150,127 164,130 Long-term liabilities: Revolving loans 8,900 — Operating lease obligations, net of current portion 256,051 263,404 Finance lease obligations, net of current portion 42,195 43,217 Deferred income tax liabilities, net 9,730 10,471 Total long-term liabilities 316,876 317,092 Total liabilities 467,003 481,222 Commitments (Notes 7 and 14) Stockholders' equity: Common stock, $ 0.001 par value, 50,000,000 shares authorized, 22,931,226 and 22,888,540 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively 23 23 Additional paid-in capital 60,760 60,327 Retained earnings 121,093 113,904 Total stockholders' equity 181,876 174,254 Total liabilities and stockholders' equity $ 648,879 655,476 See accompanying notes to unaudited interim consolidated financial statements. 3 Table of Contents NATURAL GROCERS

View Full Filing

View this 10-Q filing on SEC EDGAR