vital farms stock nasdaq

In particular, we believe that the use of Adjusted EBITDA is helpful to our investors as it is a measure used by management in assessing the health of our business, determining incentive compensation and evaluating our operating performance, as well as for internal planning and forecasting purposes. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. The risks and uncertainties referred to above include, but are not limited to: (1) the effects of the current COVID-19 pandemic, or of other global outbreaks of pandemics or contagious diseases or fear of such outbreaks, including on our supply chain, the demand for our products, and on overall economic conditions and consumer confidence and spending levels; (2) our expectations regarding our revenue, expenses and other operating results; (3) our ability to acquire new customers and successfully retain existing customers; (4) our ability to attract and retain our suppliers, distributors and co-manufacturers; (5) our ability to sustain or increase our profitability; (6) our ability to procure sufficient high quality eggs, butter and other raw materials; (7) real or perceived quality with our products or other issues that adversely affect our brand and reputation; (8) changes in the tastes and preferences of our consumers; (9) the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers and foodservice customers, as well as the health of the foodservice industry generally; (10) real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; (11) the ability of our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; (12) future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements; (13) the costs and success of our marketing efforts, and our ability to promote our brand; (14) our reliance on key personnel and our ability to identify, recruit and retain skilled personnel; (15) our ability to effectively manage our growth; (16) our focus on a specific public benefit purpose and producing a positive effect for society may negatively influence our financial performance; (17) our ability to compete effectively with existing competitors and new market entrants; (18) the impact of adverse economic conditions; (19) the sufficiency of our cash to meet our liquidity needs and service our indebtedness; (20) seasonality; and (21) the growth rates of the markets in which we compete. All rights reserved. Growth in net revenue in the second quarter of 2020 was driven primarily by volume increases to our distributors, including as a result of the stay-at-home trends associated with COVID-19, whereby customers increased their purchases of eggs and butter, and a higher turnover rate of sales to our retail customers. Made In NYC | These items are not within the Company’s control and may vary greatly between periods and could significantly impact future financial results. Adjusted EBITDA is anticipated to be in the range of $14 to $16 million. Alternatively, participants may access the live webcast on the Vital Farms Investor Relations website at https://investors.vitalfarms.com under “Events.” The webcast will be archived for 30 days. Vital Farms' ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. authorized, issued, and outstanding as of December 29, 2019 and June 28, 2020, respectively; aggregate liquidation of $40,436 as of June 28, 2020 and December 29, 2019, Common stock, $0.0001 par value per share, 40,348,565 shares authorized as of June 28, 2020, and December 29, 2019; 31,683,486 and 31,429,898 shares issued as of June 28, 2020 and, December 29, 2019, respectively; 26,188,568 and 25,934,980 shares outstanding as of June 28, 2020, Treasury stock, at cost, 5,494,918 common shares as of June 28, 2020 and December 29, 2019, Total stockholders' equity attributable to Vital Farms, Inc. common stockholders, Total liabilities, redeemable noncontrolling interest, redeemable convertible preferred stock and stockholders' equity. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Net income per share attributable to Vital Farms, Inc. stockholders: Weighted average common shares outstanding: Prepaid expenses and other current assets, Redeemable convertible preferred stock (Series B, Series C and Series D), $0.0001 par value; 8,192,876 shares. Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. We thank all of these essential workers for what they do each day to bring food to households across the country.”, Mr. Diez-Canseco continued, “Going forward, we will continue to execute our growth strategy while remaining true to our culture and values, both of which are rooted in a commitment to Conscious Capitalism and our belief that a company can only be sustainable for the long haul if it’s sustainable for all of its stakeholders – customers and consumers, employees, suppliers, communities and the environment, and stockholders.”. In addition, the Company’s guidance reflects the expectation that in the back half of the year, the Company will continue to see elevated demand due to the stay-at-home trends associated with COVID-19, and will continue to allocate demand against the available shell egg supply. The increase was partially offset by sales incentives offered to customers in connection with egg and butter sales. Cash and cash equivalents as of June 28, 2020 does not include the net proceeds from the Company’s IPO, nor does it reflect the Company’s payment in full of $1.9 million in outstanding borrowings under the Company’s equipment loan with PNC Bank, which were both completed after the end of the quarter. Find the latest Revenue & EPS data for Vital Farms, Inc. Common Stock (VITL) at Nasdaq.com. Adjustments to reconcile net income to net cash provided by operating activities: Change in fair value of contingent consideration, Loss on write-off of construction in progress. Free forex prices, toplists, indices and lots more. For the full year 2020, management expects net revenue between $205 to $210 million, an increase of greater than 45% compared to 2019. View detailed financial information, real-time news, videos, quotes and analysis on Vital Farms, Inc. (NASDAQ:VITL). Vital Farms (VITL) stock price, charts, trades & the US's most popular discussion forums. The share price for the Austin-based seller of pasture-raised eggs and butter closed Aug. 6 at $41.50, up about 89% from the … Russell Diez-Canseco, President and Chief Executive Officer of Vital Farms, commented, “We are pleased to report strong second quarter results following our successful IPO, driven in part by increased at-home consumption due to COVID-19. The following table presents a reconciliation of Adjusted EBITDA to net income, the most directly comparable financial measure stated in accordance with GAAP, for the quarters presented: Registration on or use of this site constitutes acceptance of our, Investors shouldn't hold their breath for pre-election stimulus, Goldman Sachs says », Mobile-video app Quibi is reportedly considering shutting down after only 6 months », Less: Net (loss) income attributable to noncontrolling interests, Net income attributable to Vital Farms, Inc. stockholders. Vital Farms' pasture-raised products, including shell eggs, butter, hard-boiled eggs, ghee, Egg Bites and liquid whole eggs, are sold in approximately 14,000 stores nationwide. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. AUSTIN, Texas, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, today reported financial results for its second quarter ended June 28, 2020. Jason Dale, Chief Financial Officer and Chief Operating Officer commented, “We are pleased with our net revenue growth, gross margin expansion and the improvement we have achieved in Adjusted EBITDA, which gives us confidence in our ability to continue delivering growth and profitability as we scale small family farm food to a national audience.”. Given the uncertainty regarding the ultimate duration, magnitude and effects of the COVID-19 pandemic, we do not have certainty that these trends will continue. On September 4, 2020, subsequent to the IPO, there were 39,432,161 shares of common stock outstanding. Adjusted EBITDA is a non-GAAP financial measure defined under “Non-GAAP Financial Measures,” and is reconciled to net income, its closest comparable GAAP measure, at the end of this release. The Company’s cash and cash equivalents were $17.1 million as of June 28, 2020 and total outstanding debt was $9.8 million. AUSTIN, Texas, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, … ET today to discuss the results. Forward-Looking StatementsThis press release and the earnings call referencing this press release contain “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Vital Farms’ future financial performance, including our outlook for fiscal year 2020. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our quarterly report on Form 10-Q for the fiscal quarter ended June 28, 2020 and other filings and reports that we may file from time to time with the SEC. Some of the limitations of Adjusted EBITDA include that (1) it does not properly reflect capital commitments to be paid in the future, (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures, (3) it does not consider the impact of stock-based compensation expense, (4) it does not reflect other non-operating expenses, including interest expense, (5) it does not consider the impact of any contingent consideration liability valuation adjustments and (6) it does not reflect tax payments that may represent a reduction in cash available to us. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). Income from operations in the second quarter of 2020 was $9.1 million compared to $3.9 million in the second quarter of the prior year. The increases were primarily due to higher net sales, with a portion of the increase in gross margin also attributable to lower costs associated with warehousing and transportation of inventory.

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