Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q2 FY25
Natural Grocers by Vitamin Cottage (NGVC) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 8, 2025
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $336M for the second quarter fiscal 2025 (Q2 FY25), +9% from a year earlier and +2% from the quarter before. Operating margin was 5.2%, net earnings $13.1M (3.9% of revenue).
Natural Grocers by Vitamin Cottage, Q2 FY25: revenue $336M (+9% year over year), operating margin 5.2%, net earnings $13.1M, operating cash flow $34.1M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $336M | +2% | +9% |
| Gross profit | $102M | +3% | +13% |
| Operating profit | $17.6M | +32% | +56% |
| Net earnings | $13.1M | +32% | +65% |
| Operating cash flow | $34.1M | 13× | +68% |
| Free cash flow | $27.6M | — | +183% |
What changed
Revenue was $335.8M in Q2 FY25, up 9% year over year and up 2% from the previous quarter. Grocery was the largest line at 71% of revenue. Grocery added $21.4M year over year (up 10%), 77% of the total change.
Gross margin was 30.3%, up 1.0 points from a year earlier. Operating profit was $17.6M, a 5.2% margin (up 1.6 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, above the 4% margin then. Operating expenses grew 6% against revenue growth of 9%. The fastest-growing cost line was General & admin (+16%). Net earnings were $13.1M, up 65% year over year. The effective tax rate was 22.0%.
Operating cash flow was $34.1M (up 68% year over year), 260% of net earnings. Non-cash charges added back $7.9M of depreciation and amortization and $822K of share-based compensation. Working capital and other items added $12.3M. Capital expenditures of $6.4M left free cash flow of $27.6M.
Questions
What was Natural Grocers by Vitamin Cottage's revenue in the second quarter fiscal 2025?
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $336M for the second quarter fiscal 2025 (Q2 FY25), +9% from a year earlier and +2% from the quarter before.
Was Natural Grocers by Vitamin Cottage profitable in the second quarter fiscal 2025?
Operating profit was $17.6M (5.2% of revenue) and net earnings $13.1M.
Source: Natural Grocers by Vitamin Cottage 10-Q on SEC EDGAR.