Vital Farms swings to Q1 net loss as revenue rises 15.4%, cuts 2026 EBITDA outlook
Vital Farms reported a first-quarter 2026 net loss of $1.5 million, compared with net income of $16.9 million a year earlier, even though net revenue rose 15.4% to $187.2 million. The company lowered its fiscal 2026 Adjusted EBITDA outlook to $0 to $10 million and said it will wind down its butter business by the end of fiscal 2026, with costs not yet estimated, which adds uncertainty for shareholders.
Key points
- Q1 net revenue rose 15.4% to $187.2 million, but gross margin fell to 28.3% from 38.5%.
- Q1 net loss was $1.5 million, or $0.03 per diluted share, versus net income of $16.9 million, or $0.37 per diluted share.
- Fiscal 2026 Adjusted EBITDA outlook is $0 to $10 million; net revenue outlook is $775 million to $800 million.
- Butter wind-down is expected to be substantially completed by the end of fiscal 2026; the company cannot yet estimate the charges.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.