Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q3 FY25
Natural Grocers by Vitamin Cottage (NGVC) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 7, 2025
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $329M for the third quarter fiscal 2025 (Q3 FY25), +6% from a year earlier and -2% from the quarter before. Operating margin was 4.7%, net earnings $11.6M (3.5% of revenue).
Natural Grocers by Vitamin Cottage, Q3 FY25: revenue $329M (+6% year over year), operating margin 4.7%, net earnings $11.6M, operating cash flow $2.9M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $329M | -2% | +6% |
| Gross profit | $98.3M | -3% | +9% |
| Operating profit | $15.6M | -11% | +21% |
| Net earnings | $11.6M | -11% | +26% |
| Operating cash flow | $2.9M | -91% | -76% |
What changed
Revenue was $328.7M in Q3 FY25, up 6% year over year and down 2% from the previous quarter. Grocery was the largest line at 72% of revenue. Grocery added $16.2M year over year (up 7%), 83% of the total change.
Gross margin was 29.9%, up 0.7 points from a year earlier. Operating profit was $15.6M, a 4.7% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 4% margin then. Operating expenses grew 7% against revenue growth of 6%. The fastest-growing cost line was General & admin (+15%). Net earnings were $11.6M, up 26% year over year. The effective tax rate was 22.1%.
Operating cash flow was $2.9M (down 76% year over year), 25% of net earnings. Non-cash charges added back $8.0M of depreciation and amortization and $843K of share-based compensation. Working capital and other items used $17.5M. Capital expenditures of $7.1M exceeded it, leaving free cash flow of −$4.2M.
Questions
What was Natural Grocers by Vitamin Cottage's revenue in the third quarter fiscal 2025?
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $329M for the third quarter fiscal 2025 (Q3 FY25), +6% from a year earlier and -2% from the quarter before.
Was Natural Grocers by Vitamin Cottage profitable in the third quarter fiscal 2025?
Operating profit was $15.6M (4.7% of revenue) and net earnings $11.6M.
Source: Natural Grocers by Vitamin Cottage 10-Q on SEC EDGAR.