Natural Grocers by Vitamin Cottage, Inc.NGVCEarnings & Financial Report
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
Revenue
$335.8M
Gross Profit
$101.7M
Operating Profit
$17.6M
Net Profit
$13.1M
Gross Margin
30.3%
Operating Margin
5.2%
Net Margin
3.9%
YoY Growth
9.0%
EPS
$0.56
Financial Flow
Natural Grocers by Vitamin Cottage, Inc. Q2 2025 Financial Summary
Natural Grocers by Vitamin Cottage, Inc. reported revenue of $335.8M (up 9.0% YoY) for Q2 2025, with a net profit of $13.1M (up 64.6% YoY) (3.9% margin). Cost of goods sold was $234.0M, operating expenses totaled $84.2M.
Key Financial Metrics
| Total Revenue | $335.8M |
|---|---|
| Net Profit | $13.1M |
| Gross Margin | 30.3% |
| Operating Margin | 5.2% |
| Report Period | Q2 2025 |
Revenue Breakdown
Natural Grocers by Vitamin Cottage, Inc. Q2 2025 revenue of $335.8M breaks down across 3 segments, led by Grocery at $238.5M (71.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Grocery | $238.5M | 71.0% |
| Dietary Supplements | $66.2M | 19.7% |
| Manufactured Product Other | $31.0M | 9.2% |
Natural Grocers by Vitamin Cottage, Inc. Revenue by Segment — Quarterly Trend
Natural Grocers by Vitamin Cottage, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Grocery and Dietary Supplements) has evolved quarter over quarter.
| Segment | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|
| Grocery | $243.8M | $241.7M | $235.3M | $238.5M |
| Dietary Supplements | $60.7M | $63.2M | $62.0M | $66.2M |
| Manufactured Product Other | $31.0M | $31.2M | $31.4M | $31.0M |
Natural Grocers by Vitamin Cottage, Inc. Annual Revenue by Year
Natural Grocers by Vitamin Cottage, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.3B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.3B |
| 2024 | $1.2B |
| 2023 | $1.1B |
| 2022 | $1.1B |
Natural Grocers by Vitamin Cottage, Inc. Quarterly Revenue & Net Profit History
Natural Grocers by Vitamin Cottage, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 2026 | $335.6M | +1.6% | $11.3M | 3.4% |
| Q4 2025 | $336.1M | +4.2% | $11.8M | 3.5% |
| Q3 2025 | $328.7M | +6.3% | $11.6M | 3.5% |
| Q2 2025 | $335.8M | +9.0% | $13.1M | 3.9% |
| Q1 2025 | $330.2M | +9.4% | $9.9M | 3.0% |
| Q4 2024 | $322.7M | +9.3% | $9.0M | 2.8% |
| Q3 2024 | $309.1M | +9.7% | $9.2M | 3.0% |
| Q2 2024 | $308.1M | +8.8% | $8.0M | 2.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $308.1M | $309.1M | $322.7M | $330.2M | $335.8M | $328.7M | $336.1M | $335.6M |
| YoY Growth | 8.8% | 9.7% | 9.3% | 9.4% | 9.0% | 6.3% | 4.2% | 1.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $656.6M | $654.4M | $655.5M | $648.9M | $664.6M | $659.0M | $670.5M | $668.6M |
| Liabilities | $496.6M | $486.6M | $481.2M | $467.0M | $471.6M | $456.5M | $458.1M | $448.5M |
| Equity | $160.0M | $167.8M | $174.3M | $181.9M | $193.0M | $202.5M | $212.4M | $220.0M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $20.2M | $12.4M | $24.5M | $2.7M | $34.1M | $2.9M | $15.6M | $21.1M |