Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q3 FY26 › vs Q3 FY25
Natural Grocers by Vitamin Cottage (NGVC) Q3 FY26 vs Q3 FY25 (year over year)
Natural Grocers by Vitamin Cottage's revenue rose $6.0M (+2%) from $329M in Q3 FY25 to $335M in Q3 FY26. The biggest changes: Grocery +$8.7M (+4%); Dietary Supplements −$2.1M (-3%); Manufactured Product, Other −$535K (-2%). Gross margin 29.3% against 29.9% (-0.6 pts).
Natural Grocers by Vitamin Cottage, Q3 FY26: revenue $335M (+2% year over year), operating margin 4.5%, net earnings $11.1M, operating cash flow $11.3M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 29.3% | 29.9% | -0.6 pts |
| Operating margin | 4.5% | 4.7% | -0.3 pts |
| Net margin | 3.3% | 3.5% | -0.2 pts |
| Free cash flow margin | 0.4% | -1.3% | +1.6 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Grocery | $244M | $235M | $8.7M | +4% |
| Dietary Supplements | $59.9M | $62.0M | −$2.1M | -3% |
| Manufactured Product, Other | $30.9M | $31.4M | −$535K | -2% |
| Revenue | $335M | $329M | $6.0M | +2% |
| Gross profit | $98.0M | $98.3M | −$271K | -0.3% |
| Cost of revenue | $237M | $230M | $6.3M | +3% |
| Operating profit | $15.0M | $15.6M | −$591K | -4% |
| Operating expenses | $83.0M | $82.7M | $320K | +0.4% |
| Pre-tax earnings | $14.3M | $14.9M | −$560K | -4% |
| General & admin | $9.5M | $10.9M | −$1.4M | -13% |
| Other operating costs | $73.5M | $71.7M | $1.8M | +2% |
| Net earnings | $11.1M | $11.6M | −$532K | -5% |
| Income tax | $3.3M | $3.3M | −$28K | -0.9% |
| Depreciation & amortization | $8.3M | $8.0M | $379K | +5% |
| Share-based compensation | $981K | $843K | $138K | +16% |
| Working capital & other | $9.1M | $17.5M | −$8.3M | -48% |
| Operating cash flow | $11.3M | $2.9M | $8.3M | +284% |
| Free cash flow (OCF − capex) | $1.2M | −$4.2M | $5.4M | — |
| Capital expenditures | $10.0M | $7.1M | $2.9M | +41% |
Questions
How much did Natural Grocers by Vitamin Cottage's revenue grow year over year in Q3 FY26?
Natural Grocers by Vitamin Cottage's revenue rose $6.0M (+2%) from $329M in Q3 FY25 to $335M in Q3 FY26.
What drove Natural Grocers by Vitamin Cottage's revenue change in Q3 FY26?
Grocery +$8.7M (+4%); Dietary Supplements −$2.1M (-3%); Manufactured Product, Other −$535K (-2%).