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Natural Grocers by Vitamin Cottage NGVC Gift Cards — Deferred Revenue

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Other financials

Income statement

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Revenue$334.7M+1.8%
Gross profit$75.8M0.0%
Operating income$3.6M-61.4%
Net income$11.1M-4.6%
EPS (diluted)$0.09-71.9%

Balance sheet

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Cash & equivalents$17.5M+32.5%
Total debt$322.7M-4.7%
Total equity$239.4M+18.2%
Total assets$687.7M+4.4%

Cash flow

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Operating cash flow$11.3M+284%
CapEx$10.0M+41.3%
Free cash flow$1.3M

Valuation

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Market cap$654.27M-27.8%
Enterprise value$959.48M-22.1%
P/E13.7×-7.0×
P/S0.5×-0.2×

Profitability

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Gross margin28%+0.3pp
Operating margin2.8%+0.1pp
Net margin3.5%+0.2pp
FCF margin1.7%

Returns & leverage

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Return on equity21.6%-2.0pp
Debt / equity1.3×-0.3×
Current ratio1.1×+0.1×

Where this comes from

Reported directly by Natural Grocers by Vitamin Cottage in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: Natural Grocers by Vitamin Cottage’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:07 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0001437749-26-026255

The balance of contract liabilities related to unredeemed gift cards was $1.6 million as of June 30, 2026 and September 30, 2025. Revenue for the three months ended June 30, 2026 and 2025 includes less than $0.1 million and $0.1 million, respectively, that was included in the contract liability balance of unredeemed gift cards at September 30, 2025 and 2024, respectively. Revenue for the nine months ended June 30, 2026 and 2025 includes $0.5 million and $0.7 million, respectively, that was included in the contract liability balance of unredeemed gift cards at September 30, 2025 and 2024, respectively.

Item 1. Financial Statements

FAQ

What is Natural Grocers by Vitamin Cottage's gift cards — deferred revenue?
Natural Grocers by Vitamin Cottage (NGVC) reported gift cards — deferred revenue of $1.6M in Q2 2026.
How has Natural Grocers by Vitamin Cottage's gift cards — deferred revenue changed year-over-year?
Natural Grocers by Vitamin Cottage's gift cards — deferred revenue decreased by 5.9% year-over-year, from $1.7M to $1.6M.
What is the long-term trend for Natural Grocers by Vitamin Cottage's gift cards — deferred revenue?
Over 3 years (2021 to 2025), Natural Grocers by Vitamin Cottage's gift cards — deferred revenue has grown at a 2.0% compound annual growth rate (CAGR), from $6.4M to $6.8M.
What does gift cards — deferred revenue mean?
This metric represents the outstanding balance of unredeemed gift cards issued to customers, which constitutes a performance obligation for the company. It reflects the total value of prepaid store credit that customers have purchased but not yet utilized to acquire goods or services. Monitoring this liability provides insight into future potential revenue and customer engagement levels within the retail segment.

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