Vital Farms, Inc. income statement
In fiscal 2025, Vital Farms, Inc. reported revenue of $759m, up 25.3% on the year before, operating income of $88.4m (a 11.6% margin) and net income of $66.3m, or $1.44 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 107 | 141 | 214 | 261 | 362 | 472 | 606 | 759 | 749 |
| Cost of revenue | 72 | 98 | 140 | 178 | 253 | 310 | 376 | 474 | 566 |
| Gross profit | 35 | 43 | 75 | 83 | 109 | 162 | 230 | 286 | 183 |
| Selling, general and administrative | 19 | 30 | 47 | 58 | 77 | 102 | 134 | 159 | 167 |
| Operating income | 7 | 3 | 12 | 0 | 2 | 33 | 64 | 88 | −29 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 4 |
| Income before tax | 6 | 4 | 12 | 0 | 3 | 32 | 68 | 91 | −29 |
| Income tax | 1 | 1 | 3 | −2 | 2 | 7 | 14 | 25 | −7 |
| Net income | 6 | 2 | 9 | 2 | 1 | 26 | 53 | 66 | −23 |
| Diluted EPS | $0.16 | $0.07 | $0.27 | $0.06 | $0.03 | $0.59 | $1.18 | $1.44 | −$0.51 |
| Diluted shares (average) | 35m | 36m | 33m | 43m | 43m | 43m | 45m | 46m | 44m |
| EBITDA | 8 | 5 | 15 | 4 | 8 | 41 | 73 | 98 | −18 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166 | 162 | 185 | 199 | 214 | 187 | 166 | 182 |
| Cost of revenue | 106 | 100 | 113 | 124 | 137 | 134 | 155 | 140 |
| Gross profit | 60 | 63 | 72 | 75 | 76 | 53 | 11 | 42 |
| Selling, general and administrative | 37 | 32 | 39 | 44 | 44 | 44 | 40 | 38 |
| Operating income | 13 | 22 | 24 | 21 | 21 | −2 | −40 | −8 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Income before tax | 14 | 22 | 25 | 22 | 22 | −2 | −41 | −9 |
| Income tax | 4 | 5 | 8 | 6 | 6 | −0 | −10 | −3 |
| Net income | 11 | 17 | 17 | 16 | 16 | −2 | −31 | −6 |
| Diluted EPS | $0.23 | $0.37 | $0.36 | $0.36 | $0.35 | −$0.03 | −$0.72 | −$0.15 |
| EBITDA | 15 | 24 | 26 | 23 | 24 | 0 | −38 | −5 |
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