Vital Farms, Inc. ( (VITL) ) has released its Q4 earnings. Here is a breakdown of the information Vital Farms, Inc. presented to its investors.
Vital Farms, Inc., a Certified B Corporation, is a leading U.S. brand in the ethically produced food sector, specializing in pasture-raised eggs and other products, with a strong commitment to sustainable farming practices and humane animal treatment.
Vital Farms reported a robust financial performance for the fiscal year 2024, with net revenue reaching $606.3 million, marking a 28.5% increase from the previous year. The company also announced its fiscal year 2025 guidance, projecting net revenue of $740 million and adjusted EBITDA of $100 million, setting a trajectory towards its ambitious $1 billion net revenue target by 2027.
Key financial highlights for 2024 include a significant net income growth of 108.8% to $53.4 million and an expansion in gross margin to 37.9%. The company also saw a notable increase in adjusted EBITDA, which rose to $86.7 million. These results were driven by increased sales volumes, price/mix benefits, and operational efficiencies, despite the challenges posed by supply constraints and increased investments in marketing and personnel.
Looking ahead, Vital Farms remains optimistic about its growth prospects, with plans to expand its supply chain capabilities and farm network. The company anticipates easing supply constraints in the latter half of 2025, supported by new family farms and enhanced processing facilities. This strategic focus aims to sustain its growth momentum and achieve its long-term financial goals.