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10-Q Filing

NATURAL GROCERS BY VITAMIN COTTAGE, INC. CIK: 1547459 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001437749-24-003513
Period End Date 20231231
Filing Date 20240208
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance ngvc20231231_10q_htm.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.62M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 50.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 50.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $18.34M USD Point-in-time
Common Stock, Shares, Issued (in shares) CommonStockSharesIssued 22.75M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $9.32M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $10.80M USD Point-in-time
Common Stock, Shares, Issued (in shares) CommonStockSharesIssued 22.75M shares Point-in-time
Merchandise inventory RetailRelatedInventoryMerchandise $119.26M USD Point-in-time
Common Stock, Shares, Outstanding (in shares) CommonStockSharesOutstanding 22.74M shares Point-in-time
Common Stock, Shares, Outstanding (in shares) CommonStockSharesOutstanding 22.75M shares Point-in-time
Merchandise inventory RetailRelatedInventoryMerchandise $116.08M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $4.15M USD Point-in-time
Treasury Stock, Common, Shares (in shares) TreasuryStockCommonShares 6,497.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $4.24M USD Point-in-time
Treasury Stock, Common, Shares (in shares) TreasuryStockCommonShares 0.00 shares Point-in-time
Total current assets AssetsCurrent $143.26M USD Point-in-time
Total current assets AssetsCurrent $152.55M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $169.06M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $177.28M USD Point-in-time
Operating lease assets, net OperatingLeaseRightOfUseAsset $284.21M USD Point-in-time
Operating lease assets, net OperatingLeaseRightOfUseAsset $287.94M USD Point-in-time
Finance lease assets, net FinanceLeaseRightOfUseAsset $45.11M USD Point-in-time
Finance lease assets, net FinanceLeaseRightOfUseAsset $43.98M USD Point-in-time
Deposits and other assets DepositsAndOtherAssetsNoncurrent $377.00K USD Point-in-time
Deposits and other assets DepositsAndOtherAssetsNoncurrent $395.00K USD Point-in-time
Goodwill and other intangible assets, net IntangibleAssetsNetIncludingGoodwill $14.05M USD Point-in-time
Goodwill and other intangible assets, net IntangibleAssetsNetIncludingGoodwill $14.13M USD Point-in-time
Total other assets OtherAssets $342.62M USD Point-in-time
Total other assets OtherAssets $347.57M USD Point-in-time
Total assets Assets $669.18M USD Point-in-time
Total assets Assets $663.16M USD Point-in-time
Accounts payable AccountsPayableCurrent $81.59M USD Point-in-time
Accounts payable AccountsPayableCurrent $80.67M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $33.06M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $31.99M USD Point-in-time
Term loan facility, current portion LongTermDebtCurrent $5.69M USD Point-in-time
Term loan facility, current portion LongTermDebtCurrent $1.75M USD Point-in-time
Operating lease obligations, current portion OperatingLeaseLiabilityCurrent $34.85M USD Point-in-time
Operating lease obligations, current portion OperatingLeaseLiabilityCurrent $35.84M USD Point-in-time
Finance lease obligations, current portion FinanceLeaseLiabilityCurrent $3.69M USD Point-in-time
Finance lease obligations, current portion FinanceLeaseLiabilityCurrent $3.76M USD Point-in-time
Total current liabilities LiabilitiesCurrent $154.03M USD Point-in-time
Total current liabilities LiabilitiesCurrent $158.87M USD Point-in-time
Term loan facility, net of current portion LongTermDebtNoncurrent $5.94M USD Point-in-time
Term loan facility, net of current portion LongTermDebtNoncurrent - USD Point-in-time
Revolving facility LongTermLineOfCredit - USD Point-in-time
Revolving facility LongTermLineOfCredit $18.40M USD Point-in-time
Operating lease obligations, net of current portion OperatingLeaseLiabilityNoncurrent $271.83M USD Point-in-time
Operating lease obligations, net of current portion OperatingLeaseLiabilityNoncurrent $276.81M USD Point-in-time
Finance lease obligations, net of current portion FinanceLeaseLiabilityNoncurrent $47.14M USD Point-in-time
Finance lease obligations, net of current portion FinanceLeaseLiabilityNoncurrent $46.20M USD Point-in-time
Deferred income tax liabilities, net DeferredIncomeTaxLiabilitiesNet $14.43M USD Point-in-time
Deferred income tax liabilities, net DeferredIncomeTaxLiabilitiesNet $14.00M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $350.43M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $344.31M USD Point-in-time
Total liabilities Liabilities $509.30M USD Point-in-time
Total liabilities Liabilities $498.34M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, and 22,752,413 and 22,745,412 shares issued at December 31, 2023 and September 30, 2023, and 22,752,413 and 22,738,915 shares outstanding at December 31, 2023 and September 30, 2023, respectively CommonStockValue $23.00K USD Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, and 22,752,413 and 22,745,412 shares issued at December 31, 2023 and September 30, 2023, and 22,752,413 and 22,738,915 shares outstanding at December 31, 2023 and September 30, 2023, respectively CommonStockValue $23.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $59.01M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $59.27M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $111.87M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $94.56M USD Point-in-time
Common stock in treasury at cost, 6,497 shares at September 30, 2023 TreasuryStockCommonValue - USD Point-in-time
Common stock in treasury at cost, 6,497 shares at September 30, 2023 TreasuryStockCommonValue $66.00K USD Point-in-time
Total stockholders equity StockholdersEquity $153.86M USD Point-in-time
Total stockholders equity StockholdersEquity $155.81M USD Point-in-time
Total stockholders equity StockholdersEquity $158.19M USD Point-in-time
Total stockholders equity StockholdersEquity $170.84M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $663.16M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $669.18M USD Point-in-time
Income Statement 30 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $301.75M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $280.46M USD 1 Quarter
Cost of goods sold and occupancy costs CostOfGoodsSoldAndOccupancyCosts $212.99M USD 1 Quarter
Cost of goods sold and occupancy costs CostOfGoodsSoldAndOccupancyCosts $201.74M USD 1 Quarter
Gross profit GrossProfit $78.72M USD 1 Quarter
Gross profit GrossProfit $88.76M USD 1 Quarter
Store expenses StoreExpenses $63.60M USD 1 Quarter
Store expenses StoreExpenses $68.01M USD 1 Quarter
Administrative expenses GeneralAndAdministrativeExpense $9.41M USD 1 Quarter
Administrative expenses GeneralAndAdministrativeExpense $8.25M USD 1 Quarter
Pre-opening expenses PreOpeningCostsAndRelocationExpenses $453.00K USD 1 Quarter
Pre-opening expenses PreOpeningCostsAndRelocationExpenses $538.00K USD 1 Quarter
Operating income OperatingIncomeLoss $6.42M USD 1 Quarter
Operating income OperatingIncomeLoss $10.80M USD 1 Quarter
Interest expense, net InterestExpense $796.00K USD 1 Quarter
Interest expense, net InterestExpense $894.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.91M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $5.62M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $2.15M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.21M USD 1 Quarter
Net income NetIncomeLoss $7.75M USD 1 Quarter
Net income NetIncomeLoss $4.41M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.34 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.19 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.19 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.34 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 22.71M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 22.75M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 22.80M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 22.98M shares 1 Quarter
Cash Flow Statement 86 line items
Line Item Tag Value Unit Period
Capitalized interest InterestPaidCapitalized $130.00K USD 1 Quarter
Capitalized interest InterestPaidCapitalized $78.00K USD 1 Quarter
Net income NetIncomeLoss $7.75M USD 1 Quarter
Net income NetIncomeLoss $4.41M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $7.45M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $7.06M USD 1 Quarter
Impairment of long-lived assets ImpairmentOfLonglivedAssetsAndStoreClosingCosts $90.00K USD 1 Quarter
Impairment of long-lived assets ImpairmentOfLonglivedAssetsAndStoreClosingCosts - USD 1 Quarter
Loss on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-30.00K USD 1 Quarter
Loss on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-3.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $406.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $357.00K USD 1 Quarter
Deferred income tax (benefit) expense DeferredIncomeTaxExpenseBenefit $-430.00K USD 1 Quarter
Deferred income tax (benefit) expense DeferredIncomeTaxExpenseBenefit $218.00K USD 1 Quarter
Non-cash interest expense AmortizationOfFinancingCosts $5.00K USD 1 Quarter
Non-cash interest expense AmortizationOfFinancingCosts $4.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-1.14M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-2.30M USD 1 Quarter
Merchandise inventory IncreaseDecreaseInInventories $-2.38M USD 1 Quarter
Merchandise inventory IncreaseDecreaseInInventories $-3.18M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $7.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $319.00K USD 1 Quarter
Income tax receivable IncreaseDecreaseInIncomeTaxesReceivable $-252.00K USD 1 Quarter
Income tax receivable IncreaseDecreaseInIncomeTaxesReceivable $-533.00K USD 1 Quarter
Operating lease assets IncreaseDecreaseInOperatingLeaseAsset $-8.17M USD 1 Quarter
Operating lease assets IncreaseDecreaseInOperatingLeaseAsset $-8.32M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-8.40M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-8.28M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-1.78M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $6.77M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-2.71M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-1.07M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $16.62M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $21.21M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $10.41M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.73M USD 1 Quarter
Acquisition of other intangibles PaymentsToAcquireIntangibleAssets $111.00K USD 1 Quarter
Acquisition of other intangibles PaymentsToAcquireIntangibleAssets $883.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $21.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from property insurance settlements ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Proceeds from property insurance settlements ProceedsFromInsuranceSettlementInvestingActivities $38.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.28M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.81M USD 1 Quarter
Borrowings under revolving facility ProceedsFromLinesOfCredit $125.00M USD 1 Quarter
Borrowings under revolving facility ProceedsFromLinesOfCredit $155.00M USD 1 Quarter
Repayments under revolving facility RepaymentsOfLinesOfCredit $125.00M USD 1 Quarter
Repayments under revolving facility RepaymentsOfLinesOfCredit $136.60M USD 1 Quarter
Repayments under term loan facility RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Repayments under term loan facility RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Finance lease obligation payments FinanceLeasePrincipalPayments $642.00K USD 1 Quarter
Finance lease obligation payments FinanceLeasePrincipalPayments $815.00K USD 1 Quarter
Dividend to shareholders PaymentsOfDividendsCommonStock $2.27M USD 1 Quarter
Dividend to shareholders PaymentsOfDividendsCommonStock $25.03M USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $18.00K USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Payments on withholding tax for restricted stock unit vesting PaymentsRelatedToTaxWithholdingForShareBasedCompensation $78.00K USD 1 Quarter
Payments on withholding tax for restricted stock unit vesting PaymentsRelatedToTaxWithholdingForShareBasedCompensation $118.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-5.03M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-9.54M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.90M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.72M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $13.62M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $18.34M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $12.04M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $16.94M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $13.62M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $18.34M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $12.04M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $16.94M USD Point-in-time
Cash paid for interest InterestPaidNet $441.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $272.00K USD 1 Quarter
Cash paid for interest on finance lease obligations, net of capitalized interest of $130 and $78, respectively PaymentsForInterestOnCapitalLeaseFinanceObligationsAndCapitalLeaseObligations $490.00K USD 1 Quarter
Cash paid for interest on finance lease obligations, net of capitalized interest of $130 and $78, respectively PaymentsForInterestOnCapitalLeaseFinanceObligationsAndCapitalLeaseObligations $455.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaid $5.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaid $2.00K USD 1 Quarter
Acquisition of property and equipment not yet paid CapitalExpendituresIncurredButNotYetPaid $4.29M USD 1 Quarter
Acquisition of property and equipment not yet paid CapitalExpendituresIncurredButNotYetPaid $8.51M USD 1 Quarter
Acquisition of other intangibles not yet paid OtherIntangibleExpendituresIncurredButNotYetPaid $138.00K USD 1 Quarter
Acquisition of other intangibles not yet paid OtherIntangibleExpendituresIncurredButNotYetPaid $191.00K USD 1 Quarter
Property acquired through operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $756.00K USD 1 Quarter
Property acquired through operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $4.68M USD 1 Quarter
Property acquired through finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $1.69M USD 1 Quarter
Property acquired through finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $52.00K USD 1 Quarter
Property acquired through finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $1.69M USD 1 Quarter
Property acquired through finance lease obligations RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $52.00K USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Balances StockholdersEquity $153.86M USD Point-in-time
Balances StockholdersEquity $155.81M USD Point-in-time
Balances StockholdersEquity $158.19M USD Point-in-time
Balances StockholdersEquity $170.84M USD Point-in-time
Net income NetIncomeLoss $7.75M USD 1 Quarter
Net income NetIncomeLoss $4.41M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $328.00K USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $239.00K USD 1 Quarter
Cash dividend DividendsCash $2.27M USD 1 Quarter
Cash dividend DividendsCash $25.03M USD 1 Quarter
Balances December 31, 2022 StockholdersEquity $153.86M USD Point-in-time
Balances December 31, 2022 StockholdersEquity $155.81M USD Point-in-time
Balances December 31, 2022 StockholdersEquity $158.19M USD Point-in-time
Balances December 31, 2022 StockholdersEquity $170.84M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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