Business
Vital Farms Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Announces Fiscal Year 2025 Guidance
Fiscal Year 2024 Net Revenue of $606.3 million, up 28.5% versus Fiscal Year 2023FY 2025 Outlook of $740 million in Net Revenue and $100 million in Adjusted
About this update from Vital Farms, Inc.
[{"type":"text","content":"Fiscal Year 2024 Net Revenue of $606.3 million, up 28.5% versus Fiscal Year 2023FY 2025 Outlook of $740 million in Net Revenue and $100 million in Adjusted EBITDAOn Track to Reach $1 Billion Net Revenue Target in 2027 AUSTIN, Texas, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, today reported financial results for its fourth quarter and fiscal year ended December 29, 2024. Financial highlights for the fourth quarter ended December 29, 2024 (13 weeks), compared to the fourth quarter ended December 31, 2023 (14 weeks), include: Net Revenue increased 22.2% to $166.0 million on a reported basis, compared to $135.8 million, and increased 30% on a like-for-like basis when accounting for one fewer week in the fourth quarter of 2024 (13 weeks) versus the fourth quarter of 2023 (14 weeks)Gross Margin expanded 280 basis points to 36.1%, compared to 33.3%Net Income increased 46.8% to $10.6 million, compared to $7.2 millionNet Income per Diluted Share of $0.23, compared to $0.17Adjusted EBITDA of $19.1 million, compared to $13.9 million1 Financial highlights for the fiscal year ended December 29, 2024 (52 weeks), compared to the fiscal year ended December 31, 2023 (53 weeks), include: Net Revenue increased 28.5% to $606.3 million, compared to $471.9 millionGross Margin expanded 352 basis points to 37.9%, compared to 34.4%Net Income grew 108.8% to of $53.4 million, compared to $25.6 millionNet Income per Diluted Share of $1.18, compared to $0.59Adjusted EBITDA of $86.7 million, compared to $48.3 million1 “2024 was an outstanding year for Vital Farms. We exceeded $600 million in net revenue, keeping us well on track to deliver our $1 billion sales target by 2027. We also added approximately 125 new family farms, and our farm network at the end of 2024 totaled more than 425, with more on the way. We accomplished these milestones while investing in the Vital Farms brand and expanding our supply chain capabilities to ensure future growth. We could not have done this without our great stakeholders, including our crew members, our farmers, and our customers, and I’d like to thank them for their dedication to bringing ethical food to the table. Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks ...