Willamette Valley Vineyards, Inc. (WVVI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Ubicado en el corazón del país vinícola de Oregon, Willamette Valley Vineyards, Inc. (WVVI) es un testimonio de la estrategia comercial innovadora y el viniente apasionado. Esta notable empresa ha creado un modelo de negocio único que va mucho más allá de la producción tradicional de vinos, combinando la agricultura sostenible, las experiencias directas al consumidor y las asociaciones estratégicas para crear una narrativa convincente de éxito en la industria del vino competitivo. Desde sus tierras de viñedos premium hasta sus galardonados vinos, WVVI representa un enfoque sofisticado para transformar las uvas en un ecosistema de vinos integral que deleita a los entusiastas y desafía las paradigmas de negocios convencionales.

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: asociaciones clave

Productores locales de uva de Oregon y proveedores de viñedos

Willamette Valley Vineyards Fuente uvas de múltiples viñedos locales de Oregon. A partir de 2023, la compañía tiene asociaciones con aproximadamente 12-15 productores de uvas locales en la región del Valle de Willamette.

Proveedor de uva	Acres bajo contrato	Variedades de uva
Viñedo de tice	25 acres	Pinot noir
Viñedo de dietz	18 acres	Pinot Gris
Maresh Vineyard	22 acres	Chardonnay

Redes de distribución de vinos y minoristas

La compañía mantiene asociaciones de distribución en 49 estados, con una presencia significativa en:

• Vino total & Más
• Mercado de alimentos integrales
• Tiendas de licores de objetivos
• Cadenas regionales de supermercado

Socios de turismo y hospitalidad en Willamette Valley

Willamette Valley Vineyards colabora con aproximadamente 22 organizaciones turísticas locales y 15 socios de hospitalidad para mejorar las experiencias de los visitantes.

Fabricantes de equipos agrícolas

Las asociaciones de equipos clave incluyen:

• John Deere - Tractores de viñedos y equipos de cosecha
• Pellenc - maquinaria de viticultura de precisión
• Bucher Vaslin - Equipo de procesamiento de uva

Organizaciones de producción de agricultura y vino sostenibles

La empresa está certificada por Live (viticultura y enología de baja entrada) y mantiene asociaciones con:

• Instituto de vinos sostenibles de Oregon
• Programa de certificación segura de salmón
• Tablero de vinos de Oregon

A partir de 2023, Willamette Valley Vineyards ha invertido $ 1.2 millones en tecnologías y asociaciones agrícolas sostenibles.

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocio: actividades clave

Cultivo de uva y producción de vino

Willamette Valley Vineyards posee aproximadamente 500 acres de viñedos plantados en Oregon. La producción anual de uva alcanza aproximadamente 3.500 toneladas de uvas.

Variedad de uva	Acres plantados	Producción anual (toneladas)
Pinot noir	250	1,750
Pinot Gris	100	700
Chardonnay	50	350

Degustación de vinos y ventas directas a consumidores

Representación de ventas directas al consumidor 38% de los ingresos totales. Las operaciones de la sala de degustación incluyen:

• Degustaciones diarias de vinos
• Membresías del club de vinos
• Ventas minoristas en el sitio

Gestión de operaciones de viñedos y bodegas

Capacidad anual de producción de vinos: 125,000 cajas. Ingresos anuales totales en 2022: $ 28.4 millones.

Métrica operacional	Valor
Total de empleados	130
Producción anual de vinos	125,000 casos
Instalaciones de bodegas	3 ubicaciones

Experiencias de turismo y hospitalidad del vino

Las ofertas de hospitalidad incluyen:

• Sala de degustación
• Lugares de eventos privados
• Vineyard Tours

Marketing y desarrollo de la marca

Asignación de presupuesto de marketing: 7% de los ingresos totales. Los canales de distribución incluyen:

• Ventas directas a consumidores
• Distribución al por mayor
• Plataforma de comercio electrónico en línea

Canal de marketing	Porcentaje de ventas
Directo a consumidor	38%
Al por mayor	52%
Ventas en línea	10%

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: recursos clave

Tierra de viñedo premium en Willamette Valley

Total Vineyard Acres propiedad: 471 acres al 31 de diciembre de 2022

Ubicación de viñedos	Acres	Variedades de uva primaria
Turner, Oregon	152 acres	Pinot Noir, Pinot Gris
Salem, Oregon	319 acres	Pinot Noir, Chardonnay

Instalaciones de producción de vinos establecidas

Capacidad de producción: 125,000 casos anualmente

• Instalación de bodegas ubicada en Turner, Oregon
• Tamaño de la instalación: 55,000 pies cuadrados
• Valor del equipo de producción de vino: $ 3.2 millones

Equipo experimentado de vinificación y viticultura

Posición	Años de experiencia
Enólogo principal	Más de 20 años
Vineyard Manager	Más de 15 años

Reputación de marca fuerte

Los premios ganaron: más de 500 competiciones de vinos internacionales y nacionales desde la fundación

• Llamada 'Oregon Winery of the Year' varias veces
• Vino & Winery mejor calificada de la revista Spirits

Cartera de vino diversa

Categoría de vino	Número de variedades
Pinot noir	7 etiquetas distintas
Pinot Gris	3 etiquetas distintas
Otras variedades	5 tipos de vinos adicionales

Variedades de vinos totales: 15 etiquetas diferentes a partir de 2022

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocio: propuestas de valor

Vinos de Oregon de alta calidad y galardonados

A partir de 2024, Willamette Valley Vineyards produce vinos con las siguientes características galardonadas:

Categoría de vino	Producción anual	Premios (2023)
Pinot noir	62,000 casos	17 medallas de oro internacionales
Chardonnay	18,500 casos	12 medallas de plata
Pinot Gris	22,000 casos	9 medallas de bronce

Producción sostenible y ambientalmente consciente

Las métricas de sostenibilidad para los viñedos de Willamette Valley incluyen:

• Viñones sostenibles certificados al 100% en vivo
• Reducción de la huella de carbono del 22% desde 2019
• Prácticas de conservación del agua que ahorran 35% de agua de riego
• Generación de energía solar que cubre el 40% de las necesidades de electricidad de la bodega

Experiencia única de degustación de vinos y viñedos

Estadísticas de experiencia del visitante:

Tipo de experiencia	Visitantes anuales	Gasto promedio
Degustación de vinos	78,500 visitantes	$ 45 por persona
Vineyard Tours	42,300 recorridos	$ 65 por gira

Modelo de ventas directo a consumidor

Rendimiento del canal de ventas directas:

• Membresía en línea del club de vinos: 6.200 miembros activos
• Ventas directas al consumidor: $ 8.3 millones en 2023
• Compra anual de miembro promedio del club de vinos: $ 480

Vino premium a precios competitivos

Detalles de la estrategia de precios:

Nivel de vino	Gama de precios	Posición de mercado
Vinos de bienes	$ 25 - $ 45 por botella	Segmento premium competitivo
Vinos de reserva	$ 45 - $ 75 por botella	Segmento premium de gama alta

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: relaciones con los clientes

Programas de membresía y clubes de vinos

A partir de 2024, Willamette Valley Vineyards opera un Club de vinos con múltiples niveles de membresía.

Nivel de clubes de vinos	Envíos anuales	Costo de membresía
Membresía de bronce	2 envíos/año	$ 240/año
Membresía de plata	4 envíos/año	$ 480/año
Membresía de oro	6 envíos/año	$ 720/año

Experiencias de degustación de vinos personalizadas

El viñedo ofrece múltiples opciones de degustación:

• Degustación estándar: $ 20 por persona
• Degustación de reserva: $ 35 por persona
• Degustación del grupo privado: $ 50 por persona

Compromiso en las redes sociales y construcción de la comunidad

Métricas de redes sociales a partir de 2024:

Plataforma	Seguidores	Tasa de compromiso
Instagram	25,300	3.7%
Facebook	18,700	2.9%

Marketing y comunicación directa por correo electrónico

Estadísticas de marketing por correo electrónico:

• Base de suscriptor total: 42,500
• Tasa de apertura promedio: 22.6%
• Tasa de clics: 4.3%

Programas de lealtad y referencia

Detalles del programa de referencia:

Recompensa de referencia	Valor	Condiciones
Referencia del club de vinos	Crédito de $ 50	El nuevo miembro se registra
Referencia de compra directa	10% de descuento	Amigo hace la primera compra

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: canales

Salas de degustación de bodegas

Willamette Valley Vineyards opera múltiples salas de degustación en Oregon:

Ubicación	Recuento anual de visitantes	Tarifa de degustación promedio
Turner, o sede	65,000 visitantes	$ 20 por persona
Sala de degustación de McMinnville	25,000 visitantes	$ 15 por persona

Plataforma de comercio electrónico en línea

Detalles del canal de ventas en línea directo al consumidor:

• Sitio web: willamettewines.com
• Ventas en línea anuales: $ 3.2 millones
• Valor de pedido en línea promedio: $ 185

Tiendas de vinos minoristas y distribuidores

Canal de distribución	Volumen de ventas anual	Alcance geográfico
Tiendas minoristas de Oregon	45,000 casos	En todo el estado
Distribuidores nacionales	35,000 casos	23 estados

Envíos de clubes de vinos

Estadísticas de membresía del club de vinos:

• Total de los miembros del club de vinos: 7,500
• Ingresos anuales del club de vinos: $ 2.1 millones
• Duración promedio de membresía del club: 3.2 años

Eventos de la industria del vino y ferias comerciales

Tipo de evento	Participación anual	Ventas generadas
Festivales de vinos regionales	12 eventos	$450,000
Ferias comerciales nacionales	6 eventos	$275,000

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: segmentos de clientes

Entusiastas del vino y coleccionistas

A partir de 2024, los viñedos de Willamette Valley se dirigen a los entusiastas del vino con lo siguiente profile:

Característica de segmento	Datos cuantitativos
Gasto promedio de vino anual	$ 500 - $ 2,500 por cliente
Membresía del club de vinos	1.247 miembros activos
Frecuencia de compra de vino colector	3-4 veces al año

Residentes locales de Oregon

Características del segmento de mercado local:

• Base de clientes locales potenciales totales: 4.3 millones de residentes en Oregon
• Tasa de compra de vino local: 42% de los residentes de Oregon
• Gasto promedio de clientes locales: $ 187 anualmente

Viajeros de turismo de vino

Métrico de turismo	Punto de datos
Visitantes de bodegas anuales	48,000 visitantes
Gasto promedio de visitantes	$ 95 por visita
Repita la tasa de visitantes	36% de retorno dentro de 2 años

Mercados de restaurantes y hospitalidad de lujo

Detalles del segmento de distribución mayorista:

• Cuentas totales de restaurantes: 287 cuentas activas
• Valor de pedido mayorista promedio: $ 1,250
• Distribución geográfica: 76% Oregon, 24% estados vecinos

Compradores de vino directo al consumidor

Canal DTC	Métrico de rendimiento
Ventas de vinos en línea	$ 2.7 millones de ingresos anuales
Tasa de conversión de comercio electrónico	3.8%
Valor de pedido en línea promedio	$187

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocio: Estructura de costos

Vineyard Land and Mantenimiento

A partir del informe anual de 2023, Willamette Valley Vineyards posee aproximadamente 496 acres de tierra de viñedo plantado. Los costos anuales de mantenimiento de la tierra se informaron en $ 1,247,000 para el año fiscal 2023.

Categoría terrestre	Acres	Costo de mantenimiento
Viñedos propios	496	$1,247,000

Producción y procesamiento de vinos

Los costos de producción para los viñedos de Willamette Valley en 2023 totalizaron $ 9,742,000, lo que incluye:

• Gastos de procesamiento de uva
• Costos de fermentación y envejecimiento
• Embotellado y embalaje

Componente de costos de producción	Cantidad
Costos de producción totales	$9,742,000

Gastos de marketing y ventas

Los gastos de marketing y ventas para la empresa en 2023 fueron de $ 3,456,000, lo que incluye:

• Publicidad
• Participación de la feria comercial
• Compensación del equipo de ventas

Costos del personal y de mano de obra

Los costos laborales totales para los viñedos de Willamette Valley en 2023 fueron de $ 6,890,000, que cubren aproximadamente 96 empleados a tiempo completo.

Categoría de trabajo	Número de empleados	Costo de mano de obra total
Empleados de tiempo completo	96	$6,890,000

Inversiones de equipos y tecnología

Los gastos de capital para equipos y tecnología en 2023 ascendieron a $ 2,345,000, que incluyen:

• Equipo de vinificación
• Tecnología de gestión de viñedos
• Sala de degustación e infraestructura de hospitalidad

Categoría de inversión	Cantidad
Gastos de capital total	$2,345,000

Willamette Valley Vineyards, Inc. (WVVI) - Modelo de negocios: flujos de ingresos

Ventas de vinos a través de canales directos al consumidor

En el año fiscal 2022, las ventas de vinos directas al consumidor para Willamette Valley Vineyards totalizaron $ 14,027,000, lo que representa el 49.1% de los ingresos totales de ventas de vinos.

Canal de ventas	Ingresos ($)	Porcentaje
Ventas de salas de degustación	6,412,000	45.7%
Ventas directas en línea	4,815,000	34.3%
Ventas directas de Wine Club Direct	2,800,000	20%

Venta de vinos minoristas y de distribución

En 2022, las ventas de vinos mayoristas y de distribución alcanzaron los $ 14,547,000, lo que representa el 50.9% de los ingresos totales de ventas de vinos.

Canal de distribución	Ingresos ($)	Segmento de mercado
Tiendas minoristas de Oregon	5,379,000	37%
Cadenas minoristas nacionales	4,364,000	30%
Mercados internacionales	4,804,000	33%

Ingresos de membresía del club de vinos

Los ingresos por miembros del club de vinos en 2022 fueron de $ 2,800,000, con aproximadamente 4,500 miembros activos.

• Rango de tarifas de membresía anual: $ 240 - $ 600
• Valor promedio de compra del miembro: $ 622 por año
• Tasa de retención de miembros: 68%

Experiencias de la sala de degustación y turismo

La sala de degustación y la experiencia turística de los ingresos totalizaron $ 3,612,000 en 2022.

Tipo de experiencia	Ingresos ($)	Precio promedio
Degustación estándar	1,205,000	$ 18 por persona
Degustación premium	1,407,000	$ 35 por persona
Hosting de eventos privados	1,000,000	$ 250 por evento

Mercancía y experiencias relacionadas con el vino

La mercancía y los ingresos adicionales de la experiencia ascendieron a $ 812,000 en 2022.

• Ventas de accesorios de vino: $ 412,000
• Mercancía de marca: $ 250,000
• Venta de entradas para eventos especiales: $ 150,000

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Value Propositions

You're looking at the core things Willamette Valley Vineyards, Inc. offers its customers and owners as of late 2025. It's a mix of product quality, direct experience, and a unique ownership stake.

Premium Oregon Wine

The focus remains on high-quality, cool-climate varietals, primarily Pinot Noir from the Willamette Valley AVA. The company farms or contracts grapes from a total of 791 acres of vineyard.

Experiential Retail

The company supports its brand with physical locations. They have expanded to nine tasting rooms across Oregon, Washington, and California.

Community Ownership

This is where Willamette Valley Vineyards, Inc. really sets itself apart, letting enthusiasts buy into the business via Preferred Stock (NASDAQ: WVVIP). Here's a look at the financial and benefit structure tied to this offering, which is set to end on December 31, 2025.

Metric	Value/Amount	Detail/Condition
Share Price (as of late 2025 offer)	$3.95 per share	If application received or postmarked by December 31, 2025
Minimum Purchase	150 shares	Equates to $592.50
Maximum Purchase	5,000 shares	Equates to $19,750
Annual Dividend (Cash)	22 cents per share	Paid at year-end; accrual begins January 1, 2026 for 2025 subscriptions
Owner Benefit Credit Value Increase	15% more value	Applied when taking dividend as wine credit instead of cash
Wine Purchase Discount	25% discount	On current wine releases

Sustainability Commitment

Wines are produced with certified sustainable practices, specifically through the dual certification of LIVE and Salmon-Safe. The certified acreage across key vineyards includes:

• 171 acres at Tualatin Estate Vineyard
• 67 acres at Estate Vineyard in the Salem Hills
• 67 acres at Elton Vineyard in the Eola-Amity Hills
• 16 acres at Bernau Estate Vineyard in Dundee

In 2025, Elton Vineyard Founder Betty O'Brien received the 'Hero of Salmon' award.

Diverse Portfolio

The company manages a portfolio spanning multiple wine styles and brands. The total revenue for the first three quarters of 2025 was USD 26.09 million.

The portfolio includes eleven brands, specifically mentioning sparkling wines under the Domaine Willamette label and Bordeaux varietals.

For the three months ended September 30, 2025, sales revenue was $8,353,200, with direct sales contributing $4.64 million and distributor sales contributing $3.72 million.

Recent financial performance for the three months ended September 30, 2025:

Financial Metric (Q3 2025)	Amount	Year-over-Year Change
Sales Revenue	$8,353,200	Decrease of 10.9%
Gross Profit	$5,003,972	Decrease of 13.8%
Net Loss	$1,092,450	Increase of 286.1%
EPS (after preferred dividends)	-$0.33	Increase in loss of $0.16 per share over prior year period

Finance: draft 13-week cash view by Friday.

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Customer Relationships

You're looking at how Willamette Valley Vineyards, Inc. keeps its customers close, which is critical given the recent shift in focus toward direct channels.

Dedicated Wine Clubs: Subscription model for recurring revenue and high-margin direct sales.

The wine club remains a core component of the direct-to-consumer (DTC) strategy, which management aims to grow. Direct sales margins are a key focus, showing improvement to 63.1% as of Q1 2025, up from 59.9% the prior year. While historical data from 2020 showed 14,400 wine club members, the current focus is on leveraging this base alongside e-commerce for higher-margin recurring revenue.

Here's a look at the recent direct sales performance, which includes club shipments:

Metric	Period Ended September 30, 2025	Period Ended September 30, 2024
Direct Sales Revenue (3 Months)	$4,636,319	$5,020,739
Direct Sales Revenue (9 Months)	$14,444,767	$15,028,067

Owner/Shareholder Program: Exclusive benefits and dividends for preferred stockholders, driving loyalty.

The Preferred Stock Offering (NASDAQ: WVVIP) is structured to deeply integrate customers into the business's success. For subscriptions accepted through December 31, 2025, the share price is set at $3.95, with a minimum purchase of 150 shares (costing $592.50) and a maximum of 5,000 shares (costing $19,750) per person. Preferred Stock Owners receive an annual dividend, which can be taken as a cash dividend or as an Owner Benefit Credit worth 15% more than the dividend amount. The annual dividend rate mentioned for this tranche is 5.5%, though an older figure cited was 22 cents per share.

The benefits are designed to drive repeat, high-value purchasing behavior:

• 25% discount on current wine releases.
• 10% discount on library wines.
• Monthly complimentary wine tastings for the owner and up to three guests.
• Priority access to limited-production wines.

Experiential Loyalty: High-touch service and event hosting at multiple tasting room locations.

Experiential offerings are central, as evidenced by the winery being named the USA Today 10Best Tasting Room in the Nation for the Second Consecutive Year as of late 2025. This focus supports the overall DTC push, as tasting rooms are key touchpoints. Industry data for the Willamette Valley shows that 85.5% of visitors engage in wine tasting. The company continues to emphasize growth through its tasting room locations.

Personalized E-commerce: Leveraging new CEO's expertise for data-driven online engagement.

The appointment of Mike Osborn, founder of Wine.com, in early 2025 signals a major push for data-driven online engagement. This pivot aims to reduce reliance on distributors, whose sales declined by $1.29 million in Q1 2025. While Q3 2025 direct sales revenue of $4,636,319 was down year-over-year for that quarter, the overall strategy is to use e-commerce expertise to stabilize and grow this high-margin channel. For the nine months ending September 30, 2025, total revenue was $37.37M over the last twelve months, down 4.82% year-over-year.

The shift is quantified by the margin goal:

• Target Direct Sales Margin: 63.1%.
• Prior Year Direct Sales Margin (Q1 2024): 59.9%.

Finance: draft 13-week cash view by Friday.

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Channels

You're looking at how Willamette Valley Vineyards, Inc. (WVVI) gets its product to the customer, which is definitely shifting toward higher-margin interactions as of late 2025.

Tasting Rooms/Restaurants: Willamette Valley Vineyards, Inc. maintains nine physical locations across Oregon, Washington, and California for direct sales and hospitality experiences. These spots, including the Estate Tasting Room in Turner, OR, and locations in Vancouver, WA, and Folsom, CA, are crucial for brand immersion and immediate revenue capture. The company also highlights experiences like the Pinot Noir Clonal Blending Experience, priced at $95 per person, or $80 for Owners and Wine Club Members, showing a premiumization effort within this channel.

Wine Club/E-commerce: This direct-to-consumer (DTC) segment is the strategic focus under the new leadership. Direct sales, which encompass wine club, e-commerce, and tasting room sales, carry significantly better unit economics. For instance, in Q1 2025, the margin on direct sales was reported at 63.1%, an improvement from 59.9% the prior year. This channel is key to insulating the company from wholesale volatility.

Here's the quick math on the most recent quarterly revenue split, reflecting the pressure on wholesale versus the relative strength of DTC:

Sales Channel Category	Q3 2025 Revenue Amount	Year-over-Year Change (Q3 vs Q3 2024)
Total Revenue	$8,353,200	Decrease of $1,017,513 (10.9%)
Direct Sales (DTC)	$4,640,000 (Approximate)	Decrease of $384,420
Distributor Sales (Wholesale)	$3,720,000 (Approximate)	Decrease of $633,093

National Distributors: This wholesale channel moves product outside of Oregon, placing Willamette Valley Vineyards, Inc. wines in retail stores and restaurants nationwide. In 2024, sales to distributors decreased by $89,729, or 0.5%, compared to 2023, indicating some softness even before the Q3 2025 decline.

In-State Distributors: This represents wholesale movement within Oregon. The Q3 2025 results show a sharp drop here, with sales through distributors falling by $633,093 compared to the prior year period. This segment contributed $3.72 million to the Q3 2025 total revenue.

On-site Events: Beyond standard tasting room service, Willamette Valley Vineyards, Inc. monetizes its physical assets through private bookings. The company hosts weddings and private corporate events. Furthermore, they maintain public engagement through signature happenings, such as the Grape Stomp festival, which drives significant on-site traffic and sales.

• Private Winery Tour & Tasting cost: $40 per person (credited to purchase of 2+ bottles).
• Winery Tours are complimentary for Wine Club Members and Owners.

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Customer Segments

You're looking at the core groups Willamette Valley Vineyards, Inc. (WVVI) serves, based on how they structure their reporting and sales efforts as of late 2025.

The Company officially reports performance based on two operating segments: Direct Sales and Distributor Sales, which map closely to the customer groups you listed.

Wine Enthusiast Owners: Preferred stockholders who are also loyal customers and club members.

• This group includes the base of loyal, direct-buying consumers.
• WVVI reported approximately 14,385 preferred stockholders from stock sales since August 2015.
• The wine club membership count as of December 31, 2023, was 11,541 members.
• These customers fall under the Direct Sales segment, which also includes internet sales and on-site events.

Affluent Wine Tourists: Visitors seeking premium, experiential tasting room and dining experiences.

• This segment drives retail sales through the tasting rooms, which management highlights as a key part of Direct Sales.
• The Tasting Room achieved the highest rating by readers of USA Today for the second consecutive year.
• Direct Sales revenue saw a decrease of $223,199 for the quarter ending June 30, 2025.
• Direct Sales revenue also decreased by $384,420 for the three months ended September 30, 2025.

National Wholesale Buyers: Retail chains, grocery stores, and restaurants served by distributors.

• These buyers are served through the Distributor Sales segment, which involves wholesale rates.
• Distributor Sales revenue decreased by $633,093 for the three months ended September 30, 2025.
• Total cases sold for the first half of 2025 was 83,968 cases, down 7.8% from the first half of 2024.

Regional Fine Wine Consumers: Buyers of premium Oregon Pinot Noir and other varietals.

This group is largely captured within the Distributor Sales channel, purchasing the premium Pinot Noir and other varietals that Willamette Valley Vineyards, Inc. is known for. The overall sales performance across both channels reflects the market conditions impacting these consumers.

Here's the quick math on the segment revenue performance for the recent reported quarters:

Period Ended	Direct Sales Revenue Change	Distributor Sales Revenue Change	Total Sales Revenue
June 30, 2025 (Q2)	Decreased by $223,199	Rose slightly	$10,195,763
September 30, 2025 (Q3)	Decreased by $384,420	Decreased by $633,093	$8,353,200
Six Months Ended June 30, 2025	N/A	N/A	Decreased by 7.3% year-to-date

The Company evaluates performance based on the gross profit of these respective business segments.

Finance: draft 13-week cash view by Friday.

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Cost Structure

You're looking at the core expenses Willamette Valley Vineyards, Inc. faces to keep the wine flowing and the doors open across its operations. Honestly, the cost side of the wine business is heavily weighted toward the physical product and the customer experience.

Cost of Goods Sold (COGS)

Cost of Sales includes grape costs, whether purchased or grown at Company vineyards, crush costs, winemaking and processing costs, bottling, packaging, warehousing, and shipping and handling costs associated with purchased production materials. For grapes grown at Company vineyards, costs include farming expenditures and amortization of vineyard development costs. The winery bottled 93,462 cases during the six months ended June 30, 2025. The Cost of Sales for the first three quarters of 2025 cumulatively was approximately $10.78 Million (calculated as Cumulative Revenue $26.09 Million minus Cumulative Gross Profit $15.31 Million, using Q3 cumulative data). Looking at recent quarters:

Period Ending	Cost of Sales (USD)
Q3 2025	$3.35 Million
Q2 2025	$3.98 Million
Q1 2025	$2.78 Million
Q4 2024	$4.63 Million

Selling, General, and Administrative (SG&A)

SG&A expenses for the three months ended September 30, 2025, were $6,217,499, which was up 4.6% year-over-year from $5,944,620 in Q3 2024. This category absorbs a significant portion of the operational spend outside of making the wine itself. For comparison, SG&A in Q1 2025 was $5,629,086.

Distribution Costs

These costs cover fees and logistics for moving product through third-party wholesalers and handling direct-to-consumer (DTC) shipping. The company noted a decrease in case sales through distributors in the first half of 2025, which should impact these variable costs. The overall Cost of Sales definition includes shipping and handling costs, which is the closest available proxy for logistics spend.

Interest Expense

Debt servicing costs are a clear pressure point. Interest expense, net for the six months ended June 30, 2025, was $568,366, a 15.2% increase over the prior year period due to increased long-term debt. The company's EBIT over the last twelve months ending June 2025 covered interest expense only 0.15 times, indicating a heavy debt load. For the required context of Q1 2025, the interest expense consumed 4.2% of revenue, based on the $7,541,583 Q1 2025 revenue.

• Total Debt as of June 30, 2025: $18.0m.
• Liabilities due within one year (June 30, 2025): $8.91m.
• Liquidation Preference of Preferred Stock (June 30, 2025): $43,620,581.
• Interest paid in cash for the year ended December 31, 2024: $1,018,970.

Hospitality/Retail Overhead

This covers the costs for staffing and operating the nine tasting rooms and restaurants. These locations are key for DTC sales but carry higher selling costs, as noted when comparing 2023 results to prior years. The company has seen positive recognition for its tasting room, which was awarded Best Wine Tasting Room in the country by USA Today for the second consecutive year.

The structure of these fixed and semi-fixed hospitality costs is a major driver in the SG&A line item. You've got nine locations to staff and maintain, so that overhead doesn't disappear when wine case sales drop.

Willamette Valley Vineyards, Inc. (WVVI) - Canvas Business Model: Revenue Streams

You're looking at how Willamette Valley Vineyards, Inc. (WVVI) actually brings in the cash, which is key for any valuation work you're doing. The revenue streams are clearly segmented, focusing heavily on direct consumer interaction for better profitability.

The highest margin activity is definitely Direct Sales (DTC). This comes from the wine club memberships, sales at the tasting rooms, and the e-commerce platform. Here's the quick math on that margin performance from early 2025:

Revenue Stream Type	Key Channels	Reported Margin (Q1 2025)
Direct Sales (DTC)	Wine Club, Tasting Rooms, E-commerce	63.1%

Also important are the wholesale channels, which provide volume but at a lower margin, naturally. These streams help Willamette Valley Vineyards, Inc. (WVVI) reach markets beyond its immediate physical footprint. The revenue sources break down like this:

• Direct Sales (DTC): Highest margin stream from wine club, tasting rooms, and e-commerce.
• Distributor Sales: Wholesale revenue from national and international markets.
• Hospitality/Event Sales: Revenue from on-site dining, catering, and event hosting.

When you look at the top-line performance through the first three quarters of 2025, you see the context for these margins. Cumulative revenue for Q1-Q3 2025 hit $26.09 million, which reflects an 8.47% year-over-year decline. If onboarding new wine club members takes longer than expected, that DTC stream could see pressure, defintely.

For a broader view of the business's scale right now, we look at the Trailing Twelve Months (TTM) figure as of September 30, 2025. That TTM Revenue stands at $37.37 million. It's crucial to compare that TTM number against prior periods to gauge the current trajectory.

Financial Metric	Amount as of Late 2025
Cumulative Q1-Q3 2025 Revenue	$26.09 million
Q1-Q3 2025 YOY Change	8.47% decline
Trailing Twelve Months (TTM) Revenue (as of 9/30/2025)	$37.37 million

Finance: draft 13-week cash view by Friday.