Natural Grocers By Vitamin Cottage, Inc. · NYSE:NGVC
Natural Grocers By Vitamin Cottage — Q1 2025 Earnings Presentation
22 slides from Natural Grocers By Vitamin Cottage's earnings presentation, Feb 6, 2025
Slide 1: Investor Presentation – May 2025
Investor Presentation – May 2025
Slide 2: Disclosures
Disclosures Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 in addition to historical information. All statements that are not statements of historical fact, including those that relate to mat
Slide 3: Who We Are
a J ’ pel AEE : es ig - wine We Are _
Slide 4: Natural Grocers Overview
Natural Grocers® Overview Store Count (as of 9/30) • Expanding specialty retailer of natural and organic groceries, dietary supplements and body care 180 160 140 148 153 159 162 164 165 169 products 140 120 103 126 100 87 • We focus on providing high-quality products at 80 59 72 60 always affordable
Slide 5: Our Five Founding Principles Drive Customer Loyalty
Our Five Founding Principles Drive Customer Loyalty Nutrition Education good4uSM Crew Members • Nutritional Health Coach (NHC) in every store • A well-trained, engaged Crew delivers excellent • Free nutrition coaching and classes for customers customer service • Provides ongoing training for store a
Slide 6: Competitive Strengths
Competitive Strengths 6
Slide 7: Our Competitive Strengths
Our Competitive Strengths Strict focus on high-quality natural and organic grocery products, dietary supplements and body care products Always AffordableSM Pricing - competitively priced with a value advantage against our larger format competitors Engaging customer service experience based on educat
Slide 8: Npower Customer Rewards Program
{N}power® Customer Rewards Program • {N}power penetration represented approximately 81% of total sales in Q2 2025 • More than 2.5 million members as of March 31, 2025 • Up 13% from 3/31/24 • Designed to drive higher average transaction size • Efficient and effective marketing outreach to {N}power me
Slide 9: Expansion of Natural Grocers Brand Products
Expansion of Natural Grocers® Brand Products • Positioned as premium quality offerings at compelling prices • Includes diverse assortment of products found throughout the store • Represented 8.6% of total sales in Q2 2025 up from 8.5% in Q2 2024 • Introduced 45 new products in Q2 2025 YTD and 80 new
Slide 10: Sustainability
Sustainability Our Five Founding Principles are interconnected with Environmental, Social and Governance elements. Our Crew are guided by our Five Founding Principles and are dedicated to ensuring that our stores, operations, and supply chain reflect these values. Supporting Human Health, Environmen
Slide 11: Supporting Growth
Supporting Growth 11
Slide 12: The Market Opportunity
The Market Opportunity • Natural and organic products comprise a large and Natural and Organic Sales in the U.S. 1 growing industry $ Billions • The U.S. natural and organic products industry sales grew an estimated 5.7% to $325B in 2024, and is 400 $325B expected to grow at an annual rate of 4-6% i
Slide 13: Smaller Format Focused on Core Natural and Organic Categories
Smaller Format Focused on Core Natural and Organic Categories • Smaller format store • Highly portable to multiple types of markets • Average ~10,000 selling square feet for new stores • Sales mix is aligned with the key natural product industry categories • ~11,000 selling square feet average store
Slide 14: Improve Operating Margins
Improve Operating Margins • Moderated new store unit growth (starting in 2018) to focus on productivity of existing store base • Optimize store labor hours appropriately for volume • Reduce inventory shrink with process and technology improvements • Effectively manage product selection and pricing •
Slide 15: Financial Highlights
Financial Highlights 15
Slide 16: Historical Financial Metrics
Historical Financial Metrics Revenue ($ millions) and Daily Average Comparable Store Sales Growth Adjusted EBITDA ($ millions)* $ 1,400 1,242 14% $ 100 7.4% 8.0% 12.0% 1,200 1,056 1,090 1,141 12% 6.7% 6.3% 5.9% 5.7% 5.7% 5.6% 80 Adj. EBITDA Margin 1,000 8.9% 10% 6.0% Adj. EBITDA $M 83 Revenue $M 1,0
Slide 17: Recent Financial Highlights—Q2 2025
Recent Financial Highlights—Q2 2025 • Daily average comparable store sales grew 8.9% • Daily average transaction count increased 5.9% • 9th consecutive quarter with positive transaction count comps • Daily average transaction size grew 2.8% • 5th consecutive quarter with a year-over-year increase in
Slide 18: Strong Financial Position to Support Growth Investment
Strong Financial Position to Support Growth Investment Balance Sheet Metrics (3/31/2025) • Strong liquidity position including $21.2 million of cash and cash equivalents and $70.3 million available Cash $21.2M to borrow on our $72.5 million revolving credit Debt# $45.2M facility. No outstanding borr
Slide 19: Fiscal 2025 Guidance
Fiscal 2025 Guidance Fiscal 2025 Prior Outlook Updated Outlook Number of new stores 4 to 6 3 to 4 Number of relocations/remodels 2 to 4 2 to 4 Daily average comparable store sales growth 5.0% to 7.0% 6.5% to 7.5% Diluted earnings per share $1.57 to $1.65 $1.78 to $1.86 Capital expenditures (in milli
Slide 20: Appendix
Appendix 20
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP. We define EBITDA as net income before interest expense, provision for income taxes, depreciation and amortization. We define Adjusted as EBITDA as adjusted to exclude the effects of certain i
Slide 22: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation Fiscal Year ended September 30, 2024 2023 2022 2021 2020 Net income $ 33,935 $ 23,243 $ 21,365 $ 20,581 $ 20,009 Interest expense, net 4,176 3,299 2,371 2,271 2,048 Provision for income taxes 8,866 5,127 6,419 5,475 5,692 Depreciation and amortization 30,930
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