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Vital Farms cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$22.8M in Q3 2026 · −$138M over twelve months

Operating cash flow−$8.5M
Capital spending−$14.3M
Free cash flow−$22.8M
Cash conversion cycle34 days

Analysis

In Q3 2026, Vital Farms generated −$8.5M of operating cash flow and spent $14.3M on capital projects, leaving free cash flow of −$22.8M.

Over the twelve months to Sep 27, 2026, operating cash flow was −$48.7M; the largest uses were capital spending ($89.7M), operating cash flow ($48.7M), net borrowing (+) / repaid (−) ($5.6M); besides operations, cash came from other financing ($83.2M), other investing ($51.7M); the cash balance fell by $9.8M.

Operating cash flow was −$8.5M against net income of −$6.5M. The largest differences: depreciation & amortization +$4.3M, deferred taxes −$3.4M, stock-based pay +$3.1M.

Its cash conversion cycle was 34 days (receivables 28 + inventory 40 − payables 34).

Free cash flow

Vital Farms: free cash flow by quarterVital Farms: free cash flow by quarter−$3.4MQ4 2024$2.1MQ1 2025−$7.6MQ2 2025−$10.6MQ3 2025−$32.1MQ4 2025−$39.3MQ1 2026−$44.1MQ2 2026−$22.8MQ3 2026
Operating cash flow less capital spending.
Vital Farms: operating cash flow against capital spendingVital Farms: operating cash flow against capital spendingOperating cash flowCapital spending$14.8M$18.2MQ4 2024$5.3M$3.1MQ1 2025−$761K$6.9MQ2 2025$23.4M$34.0MQ3 2025$5.8M$37.9MQ4 2025−$18.6M$20.8MQ1 2026−$27.4M$16.7MQ2 2026−$8.5M$14.3MQ3 2026
Latest (Q3 2026): Operating cash flow −$8.5M, Capital spending $14.3M.

Capital allocation, year by year

Vital Farms: where the cash came from (up) and went (down), by fiscal yearVital Farms: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $17.7MFY2021: Net borrowing −$471KFY2021: Shares issued $2.8MFY2021: Capital spending −$16.7M$20.5MFY2021FY2022: Operating cash flow −$8.1MFY2022: Net borrowing −$554KFY2022: Shares issued $675KFY2022: Asset sales $100KFY2022: Capital spending −$10.5M$775KFY2022FY2023: Operating cash flow $50.9MFY2023: Net borrowing −$2.2MFY2023: Shares issued $692KFY2023: Asset sales $1.1MFY2023: Capital spending −$11.5M$52.7MFY2023FY2024: Operating cash flow $64.8MFY2024: Net borrowing −$3.5MFY2024: Shares issued $13.7MFY2024: Asset sales $1KFY2024: Capital spending −$28.6M$78.5MFY2024FY2025: Operating cash flow $33.7MFY2025: Net borrowing −$4.5MFY2025: Shares issued $5.6MFY2025: Asset sales $1.7MFY2025: Capital spending −$82.0M$41.0MFY2025
Over these 5 years operating cash flow totalled $159M; the largest uses were capital spending ($149M) and net borrowing ($11.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$84.0M
Debt$118M
Net debt$33.7M
Due within a year$1.2M
Cash runway7 months

Vital Farms is burning cash: its operations consume cash, a free cash flow of −$138M a year at the current rate against $84.0M of cash and investments: a runway of about 7 months; $1.2M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Where the cash came from and went

Vital Farms: sources (+) and uses (−) of cash, Q3 2026Vital Farms: sources (+) and uses (−) of cash, Q3 2026Other financing$87.3MCash drawn (+) / kept (−)−$62.7MCapital spending−$14.3MOperating cash flow−$8.5MNet borrowing (+) / repaid (−)−$1.4MOther investing−$552KBuybacks$150KTaxes on employees’ shares−$13KShares issued$9KAsset & business sales$5K
Vital Farms: sources (+) and uses (−) of cash, TTM to Q3 2026Vital Farms: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$89.7MOther financing$83.2MOther investing$51.7MOperating cash flow−$48.7MCash drawn (+) / kept (−)$9.8MNet borrowing (+) / repaid (−)−$5.6MTaxes on employees’ shares−$1.7MAsset & business sales$844KShares issued$74K

From profit to cash

Vital Farms: net income to operating cash flow, Q3 2026Vital Farms: net income to operating cash flow, Q3 2026Net income−$6.5MDepreciation & amortization$4.3MStock-based pay$3.1MDeferred taxes−$3.4MOperating cash flow−$8.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202628403434
Q2 202628483344
Q1 202629533745
Q4 202527393036
Q3 202529353726
Q2 202530314218
Q1 202530273521
Q4 202428243221

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$8.5M−$14.3M$150K−$1.4M$9K−$62.7M−$22.8M
Q2 2026−$27.4M−$16.7M−$15.2M−$1.5M—$15.4M−$44.1M
Q1 2026−$18.6M−$20.8M−$20.0M−$1.4M—$12.2M−$39.3M
Q4 2025$5.8M−$37.9M—−$1.3M$65K$45.0M−$32.1M
Q3 2025$23.4M−$34.0M—−$1.2M$1.9M$14.4M−$10.6M
Q2 2025−$761K−$6.9M—−$1.0M$934K$48.1M−$7.6M
Q1 2025$5.3M−$3.1M—−$1.0M$2.7M−$5.7M$2.1M
Q4 2024$14.8M−$18.2M—−$932K$2.4M−$1.1M−$3.4M

Vital Farms: income statement and cash flow

Vital Farms, Q3 2026: revenue $182M (-8% year over year), operating margin -4.2%. The chart follows the revenue to costs, profit and cash.

Vital Farms: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.