VITL

EX-99.1

2 vitl-ex99_1.htm

EX-99.1

EX-99.1

Vital Farms Reports Third Quarter 2026 Financial Results

Third Quarter Net Revenue of $182.2 Million, Up 9.7% Sequentially from the Second Quarter

Reaches Record Dollar and Volume Share of the Shell Egg Category

Updates Fiscal Year 2026 Net Revenue Outlook to around $730 Million and Adjusted EBITDA Outlook to a Loss of around $(15) Million

Withdraws Previously Issued Fiscal 2030 Financial Targets

Reaffirms Fiscal Year Capital Expenditure Outlook of $70 Million to $75 Million

AUSTIN, TX – November 3, 2026 – Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, today reported financial results for its third quarter ended September 27, 2026.

Financial highlights for the third quarter ended September 27, 2026, compared to the third quarter ended September 28, 2025, where applicable, include:

• Net Revenue of $182.2 million, a decrease of 8.4% year over year and an increase of 9.7% sequentially from the second quarter of fiscal 2026

• Gross Margin of 23.1%, compared to 37.7%

• Net Loss of $6.5 million, compared to Net Income of $16.4 million

• Net Loss per Diluted Share of $0.15, compared to Net Income per Diluted Share of $0.36

• Adjusted EBITDA of $1.5 million, compared to $27.4 million in the prior-year quarter but improved $28.1 million sequentially from the second quarter of fiscal 20261

“Q3 represented a meaningful sequential improvement from Q2, consistent with our previously communicated expectation that Q2 would represent the trough in our financial performance. Net revenue and Adjusted EBITDA both improved sequentially, distribution expanded, we reached record dollar and volume share of the shell egg category, and we made progress reducing excess supply and lowering our cost structure,” said Russell Diez-Canseco, Vital Farms’ Executive Chairperson, President and CEO.

“At the same time, our performance this year has given us a clearer understanding of the factors affecting our growth as the egg category has normalized following several years of disruption from avian influenza. We achieved the distribution gains we expected, although some of that distribution came on shelf later than planned, and we are taking a more conservative view of its near-term velocity contribution. We are focused on building velocity across our expanded distribution base, adding distribution where it makes sense, bringing new households to the Vital Farms brand, and maintaining discipline across supply and costs. We remain confident in Vital Farms’ long-term opportunity, and we are focused on demonstrating sustained progress through more consistent growth and improved profitability over time.”

1 Adjusted EBITDA is a non-GAAP financial measure defined in the section titled “Non-GAAP Financial Measures” below and is reconciled to net (loss) income, its closest comparable GAAP measure, at the end of this release.

For the 13 Weeks Ended September 27, 2026

Net revenue decreased 8.4% to $182.2 million in the third quarter of 2026, compared to $198.9 million in the third quarter of 2025. The decrease compared to the prior-year period was primarily driven by a price/mix decline of $14.3 million and a volume-driven decline of $2.2 million, excluding breaker and wholesale channel sales. Sales to breaker and wholesale channels contributed $0.3 million to the net revenue decline, as a large volume increase was almost entirely offset by a price decline. Net revenue from sales through our retail channel was $175.1 million and $189.7 million for the 13-week periods ended September 27, 2026 and September 28, 2025, respectively.

Gross profit was $42.1 million, or 23.1% of net revenue, in the third quarter of 2026, compared to $75.0 million, or 37.7% of net revenue, in the third quarter of 2025. Gross profit and margin decreases reflected higher input and production costs and unfavorable sales mix. The unfavorable sales mix was driven by an oversupply of egg inventory, which resulted in increased sales to breaker and wholesale channels at lower prices, reducing gross profit by $7.9 million.

Loss from operations was $7.7 million in the third quarter of 2026, compared to income from operations of $21.4 million in the third quarter of 2025. The decrease was driven primarily by higher input and production costs and unfavorable sales mix, partially offset by tighter spending controls.

Net loss was $6.5 million in the third quarter of 2026, compared to net income of $16.4 million in the prior-year quarter. The decrease primarily reflected lower gross profit and higher interest expense, partially offset by lower SG&A expenses and an income tax benefit.

Net loss per diluted share was $0.15 for the third quarter of 2026, compared to net income per diluted share of $0.36 in the prior-year quarter.

Adjusted EBITDA was $1.5 million in the third quarter of 2026, compared to Adjusted EBITDA of $27.4 million in the third quarter of 2025.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.ce06d217.1786388808.84746c3

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1784333303.425be64a

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.