VFF (VFF) financial statements
VFF reported revenue of $216M in fiscal 2025, up 3.9% a year over 8 years.
Net income was $32M.
Free cash flow was $40M, and the company returned $3M in net buybacks.
The diluted share count rose 203% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VFF's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $158M | $150M | $145M | $170M | $268M | $294M | $163M | $196M | $216M |
| Cost of revenue | $144M | $141M | $152M | $159M | $223M | $266M | $115M | $150M | $128M |
| Gross profit | $14M | $9M | -$7M | $11M | $45M | $27M | $48M | $46M | $88M |
| Selling, general and admin | $15M | $14M | $17M | $19M | $54M | $72M | $57M | $62M | $60M |
| Operating income | -$1M | -$7M | — | — | — | — | — | — | — |
| Interest expense | $3M | $3M | $3M | $2M | $3M | $3M | $4M | $3M | $3M |
| Pre-tax income | -$5M | -$10M | -$17M | $8M | -$12M | -$94M | -$26M | -$30M | $31M |
| Income tax | -$763,000 | -$2M | -$6M | -$3M | -$4M | $5M | $7M | -$2M | $10M |
| Net income | -$5M | -$8M | $2M | $12M | -$9M | -$101M | -$35M | -$36M | $32M |
| EPS (diluted) | -$0.12 | -$0.17 | $0.05 | $0.19 | -$0.11 | -$1.13 | -$0.32 | -$0.32 | $0.27 |
| Diluted shares | 39M | 44M | 51M | 61M | 82M | 89M | 109M | 111M | 119M |
| Gross margin | 8.8% | 6.2% | -5.1% | 6.4% | 16.9% | 9.4% | 29.4% | 23.4% | 40.6% |
| Operating margin | -0.7% | -4.5% | — | — | — | — | — | — | — |
| Net margin | -3.0% | -5.0% | 1.6% | 6.8% | -3.4% | -34.5% | -21.3% | -18.3% | 15.0% |
Balance sheet
Fiscal years, from VFF's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $7M | $12M | $12M | $22M | $53M | $17M | $30M | $25M | $81M |
| Receivables | $70,000 | $11M | $9M | $23M | $34M | $28M | $31M | $22M | $23M |
| Inventory | $17M | $25M | $16M | $47M | $69M | $71M | $78M | $41M | $42M |
| Total current assets | $43M | $60M | $55M | $102M | $175M | $133M | $152M | $116M | $154M |
| Property, plant and equipment | $82M | $72M | $63M | $187M | $216M | $208M | $206M | $175M | $186M |
| Goodwill | — | — | — | $24M | $118M | $66M | $56M | $42M | $44M |
| Total assets | $142M | $141M | $183M | $354M | $567M | $465M | $464M | $389M | $423M |
| Total current liabilities | $19M | $24M | $22M | $72M | $64M | $72M | $72M | $62M | $59M |
| Long-term debt | $36M | $32M | $29M | $54M | $50M | $44M | $39M | $32M | $29M |
| Total liabilities | $61M | $57M | $57M | $149M | $142M | $145M | $148M | $125M | $113M |
| Shareholders' equity | $67M | $84M | $126M | $205M | $408M | $303M | $300M | $254M | $300M |
| Net debt | -$7M | $24M | $20M | $42M | $8M | $37M | $18M | $16M | -$48M |
Cash flow
Fiscal years, from VFF's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $669,000 | -$5M | -$14M | $6M | -$40M | -$20M | $5M | $10M | $58M |
| Capital spending | $2M | $3M | $2M | $3M | $22M | $14M | $4M | $7M | $18M |
| Free cash flow | -$1M | -$8M | -$17M | $2M | -$61M | -$34M | $2M | $3M | $40M |
| Stock-based compensation | $2M | $1M | $5M | $6M | $8M | $4M | $3M | $4M | $2M |
| Share buybacks (net) | — | — | — | — | -$5M | — | — | — | -$3M |
| Net borrowing | -$7M | -$706,000 | -$3M | $4M | $10M | -$2M | -$9M | -$6M | -$8M |
| Free cash flow margin | -0.6% | -5.2% | -11.5% | 1.3% | -22.8% | -11.6% | 1.0% | 1.6% | 18.5% |
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Open VFF in InvestinglyQuestions
What was VFF's revenue in 2025?
$216M in fiscal 2025, from its 10-K filing.
How much free cash flow does VFF generate?
$40M in fiscal 2025 (operating cash flow minus capital spending).
From VFF's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.