Vital Farms Inc

For the period ended Dec 29, 2024. Filed Feb 27, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 27, 2025

VITL$10.01-0.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal Year Ended
	December 29,2024	December 31,2023	December 25,2022
Cash flows from operating activities:
Net income	$53,388	$25,566	$1,230
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	13,093	7,925	5,441
Reduction in the carrying amount of right-of-use assets	4,191	4,129	1,840
Amortization of available-for-sale debt securities	110	348	711
Amortization of debt issuance costs	60	—	—
Stock-based compensation expense	10,268	7,417	6,040
Uncertain tax positions	(82)	58	405
Deferred taxes	(1,864)	(179)	227
Net realized losses on derivative instruments	272	2,711	—
Other	1,605	438	184
Changes in operating assets and liabilities:
Accounts receivable	(14,785)	(862)	(13,858)
Inventories	8,930	(6,443)	(15,574)
Income taxes receivable	—	—	199
Prepaid expenses and other current assets	(1,244)	(1,151)	(131)
Deposits and other assets	(3,755)	98	45
Income taxes payable	(368)	782	425
Accounts payable	5,810	6,671	2,352
Accrued liabilities	6,749	5,157	3,843
Operating lease liabilities	(17,554)	(1,759)	(1,477)
Net cash provided by (used in) operating activities	$64,824	$50,906	$(8,098)
Cash flows from investing activities:
Purchases of property, plant and equipment	(28,646)	(11,538)	(10,468)
Purchases of leasehold improvements	—	—	(89)
Purchases of available-for-sale debt securities	—	(982)	(33,817)
Purchases of derivative instruments	(1,701)	(1,971)	—
Sales of available-for-sale debt securities	—	2,895	—
Settlements of derivative instruments	—	106	—
Maturities and call redemptions of available-for-sale debt securities	23,320	32,265	34,345
Proceeds from the sale of property, plant and equipment	1	1,056	100
Return of investment in variable interest entity	—	552	—
Dissolution of equity investment	—	—	(108)
Net cash (used in) provided by investing activities	$(7,026)	$22,383	$(10,037)

See accompanying notes to the consolidated financial statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal Year Ended
	December 29,2024	December 31,2023	December 25,2022
Cash flows from financing activities:
Proceeds from borrowing under revolving line of credit	—	7,500	—
Proceeds from exercise of stock options	13,680	692	675
Proceeds from issuance of common stock under employee stock purchase plan	419	296	—
Repayment of revolving line of credit	—	(7,500)	—
Payment of tax withholding obligation on vested RSU shares	(1,510)	(796)	—
Principal payments under finance lease obligations	(3,521)	(2,246)	(554)
Payment of financing costs	(414)	—	—
Payment of contingent consideration	—	—	(38)
Net cash provided by (used in) financing activities	$8,654	$(2,054)	$83
Net increase (decrease) in cash and cash equivalents	66,452	71,235	(18,052)
Cash and cash equivalents at beginning of the period	84,149	12,914	30,966
Cash and cash equivalents at end of the period	$150,601	$84,149	$12,914
Supplemental disclosure of cash flow information:
Cash paid for interest	$950	$775	$114
Cash paid for income taxes	$16,578	$5,996	$99
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property, plant and equipment included in accounts payable and accrued liabilities	$884	$187	$1,143

See accompanying notes to the consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.