Filing Flows › Natural Grocers by Vitamin Cottage (NGVC) › Q3 FY26
Natural Grocers by Vitamin Cottage (NGVC) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Aug 6, 2026
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $335M for the third quarter fiscal 2026 (Q3 FY26), +2% from a year earlier and -0.8% from the quarter before. Operating margin was 4.5%, net earnings $11.1M (3.3% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $335M | -0.8% | +2% |
| Gross profit | $98.0M | -4% | -0.3% |
| Operating profit | $15.0M | -17% | -4% |
| Net earnings | $11.1M | -18% | -5% |
| Operating cash flow | $11.3M | -50% | +284% |
| Free cash flow | $1.2M | -47% | — |
What changed
Revenue was $334.7M in Q3 FY26, up 2% year over year and down 1% from the previous quarter. Grocery was the largest line at 73% of revenue. Grocery added $8.7M year over year (up 4%), 144% of the total change. Dietary Supplements declined 3%.
Gross margin was 29.3%, down 0.6 points from Q3 FY25. Operating profit was $15.0M, a 4.5% margin (down 0.3 points year over year). Operating profit fell $591K even though revenue rose $6.0M versus Q3 FY25, so costs grew faster than sales. Operating expenses grew 0% against revenue growth of 2%. Net earnings were $11.1M, down 5% year over year. The effective tax rate was 22.7%.
Operating cash flow was $11.3M (up 284% year over year), 102% of net earnings. Non-cash charges added back $8.3M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $10.0M left free cash flow of $1.2M.
Questions
What was Natural Grocers by Vitamin Cottage's revenue in the third quarter fiscal 2026?
Natural Grocers by Vitamin Cottage (NGVC) reported revenue of $335M for the third quarter fiscal 2026 (Q3 FY26), +2% from a year earlier and -0.8% from the quarter before.
Was Natural Grocers by Vitamin Cottage profitable in the third quarter fiscal 2026?
Operating profit was $15.0M (4.5% of revenue) and net earnings $11.1M.
Source: Natural Grocers by Vitamin Cottage 10-Q on SEC EDGAR.