Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a
range of ethically produced foods nationwide, today reported
financial results for its second quarter ended June 25, 2023.
Financial highlights for the second quarter
include:
- Second Quarter 2023 Net Revenue increase of 28.4% to $106.4
million
- Second Quarter 2023 Net Income of $6.7 million
- Second Quarter 2023 Adjusted EBITDA of $11.3 million1
“Our progress as a brand and as a business thus
far in 2023 continues to reinforce my excitement in the long-term
potential of our company. Our brand continues to gain new consumers
and the business produced another quarter of impressive top-line
growth, over 28% with double-digit Adjusted EBITDA Margin again
this quarter. Given the strong year-to-date results, we now
feel confident increasing our full year Net Revenue and Adjusted
EBITDA guidance,” said Russell Diez-Canseco, Vital Farms’ President
and CEO.
Diez-Canseco continued, “Vital Farms’ continued
strong performance is made possible by our consistent focus on
working with our stakeholder community to generate sustained,
positive outcomes. The commitment demonstrated by our crew members,
farmers, and other external partners to deliver above and beyond
the needs of our customers and consumers sets Vital Farms apart.
The effort illustrates the passion of our people and the potential
of our organization to further improve the lives of people,
animals, and the planet through food.”
1 Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial
measures defined in the section titled “Non-GAAP Financial
Measures” below and are reconciled to net income and net income
margin, respectively, their closest comparable GAAP measures, at
the end of this release. |
|
For the 13 Weeks Ended June 25,
2023
Net revenue increased 28.4% to
$106.4 million in the second quarter of 2023, compared to $82.9
million in the second quarter of 2022. Net revenue growth in the
second quarter of 2023 was driven by higher prices and volume gains
of 6%. The volume growth was driven by increases at both new and
existing retail customers.
Gross profit was $37.8 million,
or 35.5% of net revenue, in the second quarter of 2023, compared to
$24.9 million, or 30.1% of net revenue, in the prior year quarter.
The gross profit growth was primarily driven by higher sales. Gross
margin benefited from increased pricing across our portfolio,
partially offset by headwinds that included higher input costs
(inclusive of commodity impacts) across our shell egg and butter
businesses as well as higher packaging costs.
Income from operations in the
second quarter of 2023 was $8.0 million, compared to income from
operations of $0.7 million in the second quarter of 2022. The
change in income from operations was primarily attributable to
higher sales and gross profit, partially offset by higher marketing
costs and increased employee-related expenses as we grew headcount
to support our growth.
Net income was $6.7 million in
the second quarter of 2023, compared to net income of $0.2 million
in the prior year quarter.
Net income per diluted share
was $0.15 for the second quarter of 2023, compared to net income
per diluted share of $0.00 in the prior year quarter.
Adjusted EBITDA was $11.3
million, or 10.7% of net revenue, in the second quarter of 2023,
compared to $3.7 million, or 4.4% of net revenue, in the second
quarter of 2022. The change in Adjusted EBITDA was primarily due to
higher sales and improved gross profit performance, partially
offset by increased marketing spend and higher employee-related
expenses. Our Adjusted EBITDA excludes certain non-cash items.
Adjusted EBITDA is a non-GAAP financial measure defined in the
section titled “Non-GAAP Financial Measures” below and is
reconciled to net income, its closest comparable GAAP measure, at
the end of this release.
Balance Sheet and Cash Flow
Highlights
Cash, cash equivalents and marketable
securities were $93.5 million as of June 25, 2023, and we
had no outstanding debt. Net cash provided by operating activities
was $18.9 million for the 26-week period ended June 25, 2023,
compared to net cash used in operating activities of $3.0 million
for the 26-week period ended June 26, 2022.
Capital expenditures totaled
$4.3 million in the 26-week period ended June 25, 2023, compared to
$4.4 million in the prior year period.
Update on Fiscal 2023
Outlook
Thilo Wrede, Vital Farms’ Chief Financial
Officer, commented: “We are pleased with our outstanding financial
performance so far this year. We believe the underlying trajectory
of our business remains strong and the company is set up well to
deliver our updated guidance for fiscal year 2023.”
- For the full fiscal year 2023,
management now expects net revenue of more than $465 million, which
still anticipates higher net revenue growth rates and gross margin
in the first half of year than in the second half of the year.
- Management now expects Adjusted
EBITDA of more than $35 million for the full fiscal year 2023.
- Finally, management now expects
fiscal year 2023 capital expenditures in the range of $16 to $21
million.
Vital Farms’ guidance continues to assume that
there are no additional significant disruptions to the supply chain
or its customers or consumers, including any issues from adverse
macroeconomic factors. Vital Farms cannot provide a reconciliation
between its forecasted Adjusted EBITDA and net income (loss), its
most directly comparable GAAP measure, without unreasonable effort
due to the unavailability of reliable estimates for income taxes,
among other items. These items are not within our control and may
vary greatly between periods and could significantly impact future
financial results.
Conference Call and Webcast
Details
Vital Farms will host a conference call and
webcast at 8:30 a.m. ET today to discuss the results. To
participate in the call and receive dial in information, please
register here: Vital Farms Q2 2023 Conference Call. Alternatively,
participants may access the live webcast on the Vital Farms
Investor Relations website at https://investors.vitalfarms.com
under “Events.” The webcast will be archived in 30 days.
About Vital Farms
Vital Farms (Nasdaq: VITL) is a Certified B
Corporation that offers a range of ethically produced foods
nationwide. Started on a single farm in Austin, Texas in 2007,
Vital Farms has become a national consumer brand that works with
over 300 family farms and is the leading U.S. brand of
pasture-raised eggs by retail dollar sales. Vital Farms' ethics are
exemplified by its focus on the humane treatment of farm animals
and sustainable farming practices. In addition, as a Delaware
public benefit corporation, Vital Farms prioritizes the long-term
benefits of each of its stakeholders, including farmers and
suppliers, customers and consumers, communities and the
environment, crew members, and stockholders. Vital Farms' products,
including shell eggs, butter, hard-boiled eggs, and liquid whole
eggs, are sold in approximately 24,000 stores nationwide. For
more information, please visit www.vitalfarms.com.
Forward-Looking Statements
This press release and the earnings call
referencing this press release contain “forward-looking”
statements, as that term is defined under the federal securities
laws, including but not limited to statements regarding Vital
Farms’ market opportunity, anticipated growth, and future financial
performance, including management’s outlook for fiscal year 2023
and management’s long-term outlook. These forward-looking
statements are based on Vital Farms’ current assumptions,
expectations, and beliefs and are subject to substantial risks,
uncertainties, assumptions, and changes in circumstances that may
cause Vital Farms’ actual results, performance, or achievements to
differ materially from those expressed or implied in any
forward-looking statement.
The risks and uncertainties referred to above
include, but are not limited to: Vital Farms’ expectations
regarding its revenue, expenses, and other operating results; Vital
Farms’ ability to acquire new customers, to successfully retain
existing customers, and to attract and retain its personnel,
farmers, suppliers, distributors, and co-manufacturers; Vital
Farms’ ability to sustain or increase its profitability; Vital
Farms’ ability to procure sufficient high-quality eggs, cream for
its butter, and other raw materials; Vital Farms' ability to
successfully enter into new product categories; real or perceived
quality with Vital Farms’ products or other issues that adversely
affect Vital Farms’ brand and reputation; changes in the tastes and
preferences of consumers; the financial condition of, and Vital
Farms’ relationships with, its farmers, suppliers,
co-manufacturers, distributors, retailers, and foodservice
customers, as well as the health of the foodservice industry
generally; the impact of agricultural risks, including diseases
such as avian influenza; the ability of Vital Farms, its farmers,
suppliers, and its co-manufacturers to comply with food safety,
environmental or other laws or regulations; the effects of a public
health pandemic or contagious disease on Vital Farms' supply chain,
the demand for its products, and on overall economic conditions and
consumer confidence and spending levels; future investments in its
business, anticipated capital expenditures and estimates regarding
capital requirements; anticipated changes in Vital Farms’ product
offerings and Vital Farms’ ability to innovate to offer successful
new products; the costs and success of marketing efforts; Vital
Farms’ ability to effectively manage its growth and to compete
effectively with existing competitors and new market entrants; the
impact of adverse economic conditions, increased interest rates,
and inflation; the potential negative impact of Vital Farms’ focus
on a specific public benefit purpose and producing a positive
effect for society on its financial performance; seasonality; and
the growth rates of the markets in which Vital Farms competes.
These risks and uncertainties are more fully
described in Vital Farms’ filings with the Securities and Exchange
Commission (SEC), including in the sections entitled “Risk Factors”
in its Quarterly Report on Form 10-Q for the fiscal quarter ended
March 26, 2023, which Vital Farms filed on May 4, 2023, and other
filings and reports that Vital Farms may file from time to time
with the SEC. Moreover, Vital Farms operates in a very competitive
and rapidly changing environment. New risks emerge from time to
time. It is not possible for management to predict all risks, nor
can Vital Farms assess the impact of all factors on its business or
the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements Vital Farms may make. In light of
these risks, uncertainties, and assumptions, Vital Farms cannot
guarantee future results, levels of activity, performance,
achievements, or events and circumstances reflected in the
forward-looking statements will occur. Forward-looking statements
represent management’s beliefs and assumptions only as of the date
of this press release. Vital Farms disclaims any obligation to
update forward-looking statements except as required by law.
Media:Rob Discherrob.discher@vitalfarms.com
Investors:Matt
SilerMatt.Siler@vitalfarms.com
VITAL FARMS,
INC.CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS(Amounts in thousands, except share
amounts)(Unaudited)
|
|
13-Weeks Ended |
|
|
26-Weeks Ended |
|
|
|
June 25, 2023 |
|
|
June 26, 2022 |
|
|
June 25, 2023 |
|
|
June 26, 2022 |
|
Net revenue |
|
$ |
106,445 |
|
|
$ |
82,870 |
|
|
$ |
225,616 |
|
|
$ |
159,929 |
|
Cost of goods sold |
|
|
68,645 |
|
|
|
57,931 |
|
|
|
145,149 |
|
|
|
113,289 |
|
Gross profit |
|
|
37,800 |
|
|
|
24,939 |
|
|
|
80,467 |
|
|
|
46,640 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
|
23,908 |
|
|
|
17,007 |
|
|
|
47,853 |
|
|
|
34,632 |
|
Shipping and distribution |
|
|
5,853 |
|
|
|
7,211 |
|
|
|
13,679 |
|
|
|
15,373 |
|
Total operating expenses |
|
|
29,761 |
|
|
|
24,218 |
|
|
|
61,532 |
|
|
|
50,005 |
|
Income (loss) from
operations |
|
|
8,039 |
|
|
|
721 |
|
|
|
18,935 |
|
|
|
(3,365 |
) |
Other (expense) income, net: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
(136 |
) |
|
|
(7 |
) |
|
|
(275 |
) |
|
|
(15 |
) |
Interest income |
|
|
450 |
|
|
|
210 |
|
|
|
790 |
|
|
|
340 |
|
Other expense, net |
|
|
(441 |
) |
|
|
(52 |
) |
|
|
(1,866 |
) |
|
|
(3 |
) |
Total other (expense) income, net |
|
|
(127 |
) |
|
|
151 |
|
|
|
(1,351 |
) |
|
|
322 |
|
Net income (loss) before income
taxes |
|
|
7,912 |
|
|
|
872 |
|
|
|
17,584 |
|
|
|
(3,043 |
) |
Income tax provision
(benefit) |
|
|
1,229 |
|
|
|
680 |
|
|
|
3,751 |
|
|
|
(1,697 |
) |
Net income (loss) |
|
|
6,683 |
|
|
|
192 |
|
|
|
13,833 |
|
|
|
(1,346 |
) |
Less: Net loss attributable to noncontrolling
interests |
|
|
— |
|
|
|
(7 |
) |
|
|
— |
|
|
|
(8 |
) |
Net income (loss) attributable to
Vital Farms, Inc. common stockholders |
|
$ |
6,683 |
|
|
$ |
199 |
|
|
$ |
13,833 |
|
|
$ |
(1,338 |
) |
Net income (loss) per share
attributable to Vital Farms, Inc. stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic: |
|
$ |
0.16 |
|
|
$ |
0.00 |
|
|
$ |
0.34 |
|
|
$ |
(0.03 |
) |
Diluted: |
|
$ |
0.15 |
|
|
$ |
0.00 |
|
|
$ |
0.32 |
|
|
$ |
(0.03 |
) |
Weighted average common shares
outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic: |
|
|
40,948,365 |
|
|
|
40,628,416 |
|
|
|
40,861,218 |
|
|
|
40,580,598 |
|
Diluted: |
|
|
43,292,261 |
|
|
|
42,694,767 |
|
|
|
43,359,993 |
|
|
|
40,580,598 |
|
|
VITAL FARMS,
INC.CONDENSED CONSOLIDATED BALANCE
SHEETS(Amounts in thousands, except share
amounts)
|
|
June 25, 2023 |
|
|
December 25, 2022 |
|
|
|
(Unaudited) |
|
|
|
|
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
47,673 |
|
|
$ |
12,914 |
|
Investment securities, available-for-sale |
|
|
45,862 |
|
|
|
65,814 |
|
Accounts receivable, net |
|
|
30,045 |
|
|
|
38,895 |
|
Inventories |
|
|
42,105 |
|
|
|
26,849 |
|
Prepaid expenses and other current assets |
|
|
6,193 |
|
|
|
5,142 |
|
Total current assets |
|
|
171,878 |
|
|
|
149,614 |
|
Property, plant and equipment,
net |
|
|
59,340 |
|
|
|
59,155 |
|
Operating lease right-of-use
assets |
|
|
1,200 |
|
|
|
1,895 |
|
Goodwill and other assets |
|
|
3,904 |
|
|
|
4,002 |
|
Total assets |
|
$ |
236,322 |
|
|
$ |
214,666 |
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
21,840 |
|
|
$ |
25,972 |
|
Accrued liabilities |
|
|
25,167 |
|
|
|
18,477 |
|
Operating lease liabilities, current |
|
|
731 |
|
|
|
1,208 |
|
Finance lease liabilities, current |
|
|
1,621 |
|
|
|
1,570 |
|
Income taxes payable |
|
|
2,345 |
|
|
|
425 |
|
Total current liabilities |
|
|
51,704 |
|
|
|
47,652 |
|
Operating lease liabilities,
non-current |
|
|
647 |
|
|
|
892 |
|
Finance lease liabilities,
non-current |
|
|
6,202 |
|
|
|
7,023 |
|
Other liabilities |
|
|
1,725 |
|
|
|
767 |
|
Total liabilities |
|
$ |
60,278 |
|
|
$ |
56,334 |
|
Commitments and contingencies
(Note 19) |
|
|
— |
|
|
|
— |
|
Stockholders’ equity: |
|
|
|
|
|
|
Common stock, $0.0001 par value per share, 310,000,000 shares
authorized as of June 25, 2023 and December 25, 2022; 41,232,667
and 40,746,990 shares issuedand outstanding as of June 25, 2023 and
December 25, 2022, respectively |
|
|
4 |
|
|
|
4 |
|
Additional paid-in capital |
|
|
159,012 |
|
|
|
155,716 |
|
Retained earnings |
|
|
17,992 |
|
|
|
4,159 |
|
Accumulated other comprehensive loss |
|
|
(964 |
) |
|
|
(1,547 |
) |
Total stockholders’ equity |
|
$ |
176,044 |
|
|
$ |
158,332 |
|
Total liabilities and stockholders’ equity |
|
$ |
236,322 |
|
|
$ |
214,666 |
|
|
|
VITAL FARMS,
INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS(Amounts in
thousands)(Unaudited)
|
|
26-Weeks Ended |
|
|
|
June 25, 2023 |
|
|
June 26, 2022 |
|
Cash flows from operating
activities: |
|
|
|
|
|
|
Net income (loss) |
|
$ |
13,833 |
|
|
$ |
(1,346 |
) |
Adjustments to reconcile net
income (loss) to net cash provided by (used in) operating
activities: |
|
|
|
|
|
|
Depreciation and amortization |
|
|
3,543 |
|
|
|
2,287 |
|
Amortization of right-of-use assets |
|
|
1,588 |
|
|
|
829 |
|
Amortization of available-for-sale debt securities |
|
|
230 |
|
|
|
541 |
|
Stock-based compensation expense |
|
|
3,687 |
|
|
|
2,929 |
|
Deferred taxes |
|
|
767 |
|
|
|
(1,927 |
) |
Unrealized loss on derivative instruments |
|
|
847 |
|
|
|
— |
|
Other |
|
|
524 |
|
|
|
(260 |
) |
Net change in operating assets
and liabilities |
|
|
(6,108 |
) |
|
|
(6,058 |
) |
Net cash provided by (used in) operating activities |
|
$ |
18,911 |
|
|
$ |
(3,005 |
) |
Cash flows from investing
activities: |
|
|
|
|
|
|
Purchases of property, plant and
equipment |
|
|
(4,292 |
) |
|
|
(4,417 |
) |
Purchases of available-for-sale
debt securities |
|
|
— |
|
|
|
(29,944 |
) |
Purchases and settlements of
derivative instruments |
|
|
(662 |
) |
|
|
— |
|
Sales of available-for-sale debt
securities |
|
|
1,907 |
|
|
|
— |
|
Maturities and call redemptions
of available-for-sale debt securities |
|
|
18,453 |
|
|
|
28,334 |
|
Proceeds from the sale of
property, plant and equipment |
|
|
1,054 |
|
|
|
50 |
|
Return of investment in variable
interest entity |
|
|
552 |
|
|
|
— |
|
Net cash provided by (used in) investing activities |
|
$ |
17,012 |
|
|
$ |
(5,977 |
) |
Cash flows from financing
activities: |
|
|
|
|
|
|
Proceeds from borrowing under
revolving line of credit |
|
|
7,500 |
|
|
|
— |
|
Proceeds from exercise of stock
options |
|
|
110 |
|
|
|
397 |
|
Proceeds from issuance of common
stock under employee stock purchase plan |
|
|
135 |
|
|
|
— |
|
Repayment of revolving line of
credit |
|
|
(7,500 |
) |
|
|
— |
|
Payment of tax withholding
obligation on vested RSU shares |
|
|
(636 |
) |
|
|
(9 |
) |
Principal payments under finance
lease obligations |
|
|
(773 |
) |
|
|
(252 |
) |
Payment of contingent
consideration |
|
|
— |
|
|
|
(38 |
) |
Net cash (used in) provided by financing activities |
|
$ |
(1,164 |
) |
|
$ |
98 |
|
Net increase (decrease)
in cash and cash equivalents |
|
|
34,759 |
|
|
|
(8,884 |
) |
Cash and cash equivalents at
beginning of the period |
|
|
12,914 |
|
|
|
30,966 |
|
Cash and cash equivalents at end
of the period |
|
$ |
47,673 |
|
|
$ |
22,082 |
|
Supplemental disclosure
of cash flow information: |
|
|
|
|
|
|
Cash paid for interest |
|
$ |
268 |
|
|
$ |
15 |
|
Cash paid for income taxes |
|
$ |
1,070 |
|
|
$ |
68 |
|
Supplemental disclosure
of non-cash investing and financing
activities: |
|
|
|
|
|
|
Purchases of property, plant and
equipment included in accounts payable and accrued liabilities |
|
$ |
1,266 |
|
|
$ |
1,398 |
|
Non-GAAP Financial Measures
We report our financial results in accordance
with GAAP. However, management believes that Adjusted EBITDA and
Adjusted EBITDA Margin, non-GAAP financial measures, provide
investors with additional useful information in evaluating our
performance.
Adjusted EBITDA and Adjusted EBITDA Margin are
financial measures that are not required by or presented in
accordance with GAAP. We believe that Adjusted EBITDA and Adjusted
EBITDA Margin, when taken together with our financial results
presented in accordance with GAAP, provide meaningful supplemental
information regarding our operating performance and facilitate
internal comparisons of our historical operating performance on a
more consistent basis by excluding certain items that may not be
indicative of our business, results of operations or outlook. In
particular, we believe that the use of Adjusted EBITDA and Adjusted
EBITDA Margin are helpful to our investors as they are measures
used by management in assessing the health of our business,
determining incentive compensation and evaluating our operating
performance, as well as for internal planning and forecasting
purposes.
We calculate Adjusted EBITDA as net income,
adjusted to exclude: (1) depreciation and amortization; (2)
(benefit) or provision for income taxes as applicable; (3)
stock-based compensation expense; (4) interest expense; (5) change
in fair value of contingent consideration; (6) interest income; and
(7) the costs related to the discontinuation of our convenient
breakfast product line. We believe the costs directly related to
the convenient breakfast exit should be excluded as they are
unlikely to recur. We calculate Adjusted EBITDA Margin as Adjusted
EBITDA divided by Net Revenue.
Adjusted EBITDA and Adjusted EBITDA Margin are
presented for supplemental informational purposes only, have
limitations as analytical tools and should not be considered in
isolation or as a substitute for financial information presented in
accordance with GAAP. Some of the limitations of Adjusted EBITDA
and Adjusted EBITDA Margin include that (1) they do not properly
reflect capital commitments to be paid in the future, (2) although
depreciation and amortization are non-cash charges, the underlying
assets may need to be replaced and Adjusted EBITDA and Adjusted
EBITDA Margin do not reflect these capital expenditures, (3) they
do not consider the impact of stock-based compensation expense, (4)
they do not include costs related to the discontinuation of our
convenient breakfast product line; (5) they do not reflect other
non-operating expenses, including interest expense; (6) they do not
consider the impact of any contingent consideration liability
valuation adjustments; and (7) they do not reflect tax payments
that may represent a reduction in cash available to us. In
addition, our use of Adjusted EBITDA and Adjusted EBITDA Margin may
not be comparable to similarly titled measures of other companies
because they may not calculate Adjusted EBITDA and Adjusted EBITDA
Margin in the same manner, limiting the usefulness as comparative
measures. Because of these limitations, when evaluating our
performance, you should consider Adjusted EBITDA and Adjusted
EBITDA Margin alongside other financial measures, including our net
income and other results stated in accordance with GAAP.
The following table presents a reconciliation of
Adjusted EBITDA to net income (loss) and a reconciliation of
Adjusted EBITDA Margin to net income (loss) margin, the most
directly comparable financial measures stated in accordance with
GAAP, for the 13-week and 26-week periods presented.
VITAL FARMS,
INC.ADJUSTED EBITDA
RECONCILIATION(Amounts in
thousands)(Unaudited)
|
|
13-Weeks Ended |
|
|
26-Weeks Ended |
|
|
|
June 25, 2023 |
|
|
June 26, 2022 |
|
|
June 25, 2023 |
|
|
June 26, 2022 |
|
|
|
(in thousands) |
|
|
(in thousands) |
|
Net income (loss) |
|
$ |
6,683 |
|
|
$ |
192 |
|
|
$ |
13,833 |
|
|
$ |
(1,346 |
) |
Depreciation and
amortization1 |
|
|
2,297 |
|
|
|
1,339 |
|
|
|
4,437 |
|
|
|
2,287 |
|
Stock-based compensation
expense |
|
|
1,446 |
|
|
|
1,633 |
|
|
|
3,687 |
|
|
|
2,929 |
|
Costs related to our exit of the
convenient breakfast product line |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,341 |
|
Income tax provision
(benefit) |
|
|
1,229 |
|
|
|
680 |
|
|
|
3,751 |
|
|
|
(1,697 |
) |
Interest expense |
|
|
136 |
|
|
|
7 |
|
|
|
275 |
|
|
|
15 |
|
Change in fair value of
contingent consideration2 |
|
|
- |
|
|
|
12 |
|
|
|
— |
|
|
|
19 |
|
Interest income |
|
|
(450 |
) |
|
|
(210 |
) |
|
|
(790 |
) |
|
|
(340 |
) |
Adjusted EBITDA |
|
$ |
11,341 |
|
|
$ |
3,653 |
|
|
$ |
25,193 |
|
|
$ |
4,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
$ |
106,445 |
|
|
$ |
82,870 |
|
|
$ |
225,616 |
|
|
$ |
159,929 |
|
Net income (loss) margin3 |
|
|
6.3 |
% |
|
|
0.2 |
% |
|
|
6.1 |
% |
|
|
(0.8 |
)% |
Adjusted EBITDA Margin4 |
|
|
10.7 |
% |
|
|
4.4 |
% |
|
|
11.2 |
% |
|
|
2.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 Amount also includes finance lease
amortization.2 Amount reflects the change in fair value of a
contingent consideration liability in connection with our 2014
acquisition of certain assets of Heartland Eggs.3 Net income
(loss) margin is calculated by dividing net income (loss) by net
revenue.4 Adjusted EBITDA Margin is calculated by dividing Adjusted
EBITDA by net revenue.
Vital Farms (NASDAQ:VITL)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Vital Farms (NASDAQ:VITL)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024