Vital Farms, Inc. (Vitl): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Vital Farms, Inc. (Vitl) não é apenas mais uma empresa de ovos - é uma abordagem revolucionária da produção ética de alimentos que transforma como os consumidores pensam sobre o item básico do café da manhã. Ao ser pioneiro em um modelo de negócios que priorize galinhas criadas em pastagens, agricultura sustentável e práticas agrícolas transparentes, as fazendas vitais conquistaram um espaço único no mercado de alimentos premium. Sua estratégia inovadora vai além da venda de ovos; Eles estão vendendo uma experiência orientada à missão que ressoa com consumidores conscientes da saúde e conscientes do meio ambiente que exigem mais do que apenas um produto-eles querem uma conexão com os ecossistemas agrícolas regenerativos responsáveis.

Vital Farms, Inc. (Vitl) - Modelo de negócios: Parcerias -chave

Agricultores regenerativos

A partir de 2023, as fazendas vitais colaboram com 74 fazendas familiares independentes em 9 estados nos Estados Unidos, especificamente:

Estado	Número de fazendas
Texas	27
Missouri	12
Arkansas	10
Oregon	8
Outros estados	17

Mercado de alimentos integrais e varejistas de supermercados premium

As principais parcerias de varejo incluem:

• Whole Foods Market (canal de distribuição primária)
• Kroger
• Sprouts Farmers Market
• Alvo
• Walmart

Organizações de certificação de bem -estar animal

Vital Farms mantém parcerias com:

• Humane certificado
• Parceria Animal Global (GAP)

Fornecedores de embalagens sustentáveis

Fornecedor	Tipo de material
Corporação aérea selada	Caixas de ovos recicláveis
Westrock Company	Soluções de embalagem sustentáveis

Parceiros de distribuição e logística

• C.H. Robinson Worldwide, Inc.
• Americold Logistics
• Logística de linhagem

Vital Farms, Inc. (Vitl) - Modelo de Negócios: Atividades -chave

Produção ética de ovos com galinhas criadas

As fazendas vitais gerenciam 200 fazendas familiares em 14 estados, com 108.000 acres de pastagem dedicado à produção ética de ovos.

Métrica	Valor
Espaço médio de pastagem por frango	108 pés quadrados
Galinhas totais	Aproximadamente 1,2 milhão
Produção anual de ovos	Mais de 250 milhões de ovos

Práticas agrícolas sustentáveis ​​e gerenciamento de bem -estar animal

• Práticas orgânicas certificadas pelo USDA
• Produção de ovos certificados por humanos
• Técnicas agrícolas regenerativas

Desenvolvimento de produtos e inovação

Categoria de produto	Número de SKUs
Ovos criados em pasto	7 variedades
Manteiga	3 variedades
Mordidas de ovo	2 variedades

Marketing e posicionamento da marca

Gastos de marketing em 2022: US $ 26,4 milhões

Estratégias de distribuição

Canal	Porcentagem de vendas
Mercearia de varejo	85%
Direto ao consumidor	10%
GOODSERVICE	5%

Distribuição total de varejo: Mais de 25.000 lojas incluindo Whole Foods, Kroger e Target.

Vital Farms, Inc. (Vitl) - Modelo de negócios: Recursos -chave

Rede de fazendas de frango criadas

A partir de 2024, a Vital Farms gerencia uma rede de aproximadamente 300 fazendas familiares independentes em 11 estados nos Estados Unidos. Essas fazendas gerenciam coletivamente mais de 25.000 acres de terra de pastagem dedicados à produção ética de ovos e laticínios.

Métrica da fazenda	Quantidade
Total de fazendas independentes	300
Acres totais de pastagem	25,000
Estados cobertos	11

Reputação da marca na produção ética de alimentos

Farms vitais estabeleceu um Reputação da marca premium Com as seguintes métricas principais:

• Reconhecimento da marca entre consumidores de alimentos éticos: 68%
• Pontuação do promotor líquido: 72
• Premium de preço médio sobre ovos convencionais: 187%

Bem -estar animal e experiência agrícola sustentável

As fazendas vitais implementos rigorosos padrões de bem -estar animal, incluindo:

• Mínimo 108 pés quadrados de pasto por galinha
• Sem hormônios de crescimento artificial
• Sem antibióticos na produção

Relacionamentos diretos dos agricultores

Métrica de relacionamento	Valor
Duração média de parceria de agricultores	8,5 anos
Compensação de agricultores acima da taxa de mercado	37%
Horário anual de treinamento de agricultores	24

Tecnologia para qualidade do produto

As fazendas vitais utilizam tecnologias avançadas de rastreamento:

• Sistemas de monitoramento agrícola em tempo real
• Plataforma de rastreabilidade habilitada para blockchain
• Sensores de IoT para rastreamento ambiental

Vital Farms, Inc. (Vitl) - Modelo de Negócios: Proposições de Valor

Ovos produzidos eticamente produzidos por pasto

A partir do quarto trimestre de 2023, as fazendas vitais produziam 102,8 milhões de dezenas de ovos anualmente, com 100% dos ovos provenientes de galinhas criadas em pastagens em mais de 300 fazendas familiares.

Métrica	Valor
Produção anual de ovos	102,8 milhões de dezenas de ovos
Parceiros agrícolas criados em pasto	Mais de 300 fazendas familiares
Espaço médio de pastagem por frango	108 pés quadrados

Padrões superiores de bem -estar animal

As fazendas vitais mantêm a rigorosa certificação de bem -estar animal com os seguintes padrões:

• Status Certified Humane® Pasture-Rised
• Mínimo 108 pés quadrados por galinha
• Acesso diário ao ar livre para galinhas
• Sem corte de bico ou moldura forçada

Práticas agrícolas transparentes e sustentáveis

Em 2023, as fazendas vitais relataram:

Métrica de sustentabilidade	Valor
Redução da pegada de carbono	15% de redução desde 2020
Esforços de conservação de água	22% de redução de uso de água
Investimento regenerativo da agricultura	US $ 2,4 milhões

Produtos alimentares premium de alta qualidade

Receita de portfólio de produtos para 2023:

Categoria de produto	Receita	Quota de mercado
Ovos criados em pasto	US $ 380,2 milhões	72%
Manteiga	US $ 85,6 milhões	16%
Outros produtos lácteos	US $ 62,3 milhões	12%

Apoiando ecossistemas agrícolas regenerativos

Investimentos de agricultura regenerativa da Vital Farms em 2023:

• Investimentos diretos de parceria de agricultores: US $ 4,7 milhões
• Programas de melhoria da saúde do solo: US $ 1,9 milhão
• Iniciativas de conservação da biodiversidade: US $ 1,2 milhão

Vital Farms, Inc. (Vitl) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto do consumidor através da mídia social

No quarto trimestre 2023, as fazendas vitais mantinham 148.000 seguidores do Instagram e 36.000 seguidores no Facebook. A taxa de engajamento de mídia social teve uma média de 2,7% nas plataformas.

Plataforma social	Contagem de seguidores	Taxa de engajamento
Instagram	148,000	3.1%
Facebook	36,000	2.3%
Twitter	22,500	1.9%

Transparência nas práticas agrícolas

Métricas de transparência para 2023:

• 100% das galinhas que dão as cercas de pastagem
• Média de 108 pés quadrados por galinha
• Taxa de certificação de bem-estar animal de terceiros: 98%

Conteúdo educacional sobre a produção ética de alimentos

Estatísticas de engajamento de conteúdo para 2023:

Tipo de conteúdo	Visualizações/interações
Vídeos de prática agrícola	425.000 visualizações
Blogs de agricultura ética	287.000 leituras
Relatórios de sustentabilidade	156.000 downloads

Programas de fidelidade do cliente

Estatísticas do programa de fidelidade para 2023:

• Membros do Programa de Fidelidade Total: 78.500
• Repita taxa de compra: 62%
• Valor da vida média do cliente: $ 345

Experiência de marca orientada pela comunidade

Métricas de engajamento da comunidade para 2023:

Interação da comunidade	Taxa de participação
Revisões de clientes	4,7/5 Classificação média
Programa de visita à fazenda	3.200 visitantes
Feedback direto do consumidor	92% de sentimento positivo

Vital Farms, Inc. (Vitl) - Modelo de Negócios: Canais

Whole Foods Market

A partir de 2023, as fazendas vitais distribuíram ovos através de 469 locais do mercado da Whole Foods nos Estados Unidos. A empresa gerou aproximadamente US $ 42,3 milhões em receita do Whole Foods Market Channel no ano fiscal de 2022.

Métrica	Valor
Locais de mercado da Whole Foods	469
Receita do canal	US $ 42,3 milhões

Principais redes de supermercado

A Vital Farms vende produtos em mais de 25.000 locais de varejo, incluindo Kroger, Albertsons e Publix. Em 2022, esses principais canais de supermercado contribuíram com US $ 178,6 milhões para a receita total da empresa.

• Kroger
• Albertsons
• Publix
• Locais totais de varejo: 25.000+

Plataforma direta ao consumidor on-line

A plataforma direta ao consumidor da empresa gerou US $ 12,7 milhões em receita durante 2022, representando 4,8% do total de vendas da empresa.

Parcerias de comércio eletrônico

A Vital Farms tem parcerias com a Amazon Fresh e Instacart, que contribuiu com US $ 23,5 milhões em vendas durante 2022.

Parceiro de comércio eletrônico	Contribuição de vendas
Amazon fresco	US $ 15,2 milhões
Instacart	US $ 8,3 milhões

Varejistas especializados de alimentos

Os varejistas especializados de alimentos, incluindo os mercados orgânicos do Trader Joe e locais, geraram US $ 34,6 milhões em receita para fazendas vitais em 2022.

• Trader Joe's
• Mercados orgânicos locais
• Receita de lojas de alimentos especiais: US $ 34,6 milhões

Vital Farms, Inc. (Vitl) - Modelo de negócios: segmentos de clientes

Consumidores preocupados com a saúde

De acordo com os dados da Nielsen, 73% dos consumidores buscam opções mais saudáveis ​​de alimentos. As fazendas vitais têm como alvo este segmento com ovos e produtos lácteos criados em pastagens contendo:

• Maior conteúdo ômega-3
• Níveis mais baixos de colesterol
• Sem antibióticos ou hormônios

Preferência de saúde do consumidor	Percentagem
Buscar fontes de proteínas orgânicas	62%
Priorize o bem -estar animal	54%
Disposto a pagar prêmio por qualidade	48%

Indivíduos ambientalmente conscientes

A sustentabilidade ambiental impulsiona 67% das decisões de compra milenar. As fazendas vitais abordam isso através de:

• Práticas agrícolas regenerativas
• Padrões de bem-estar animal criados para pasto
• Produção reduzida de pegada de carbono

Compradores premium de mercado de alimentos

O Whole Foods Market relata o crescimento do segmento de alimentos premium em 8,5% ao ano. As fazendas vitais têm como alvo os consumidores com:

Característica do segmento premium	Quota de mercado
Renda familiar anual acima de US $ 100.000	42%
Compradores de supermercados especiais frequentes	36%
Disposto a gastar 20%+ em comida de qualidade	55%

Defensores éticos de alimentação

A pesquisa indica que 59% dos consumidores consideram o bem -estar animal nas decisões de compra de alimentos.

Demografia urbana e suburbana da classe média alta

Os dados do U.S. Census Bureau revelam características demográficas -alvo:

Segmento demográfico	Percentagem
Idade 25-44	38%
Renda familiar $ 75.000 a US $ 150.000	45%
Morar em áreas metropolitanas	63%

Vital Farms, Inc. (Vitl) - Modelo de negócios: estrutura de custos

Compensação e suporte de agricultores

A partir de 2023, as fazendas vitais pagavam uma média de US $ 3,85 por dúzia de ovos aos agricultores de parceria. As despesas totais de apoio aos agricultores foram de aproximadamente US $ 22,4 milhões no ano fiscal de 2022.

Categoria de custo	Despesa anual
Pagamentos diretos do agricultor	US $ 22,4 milhões
Programas de treinamento de agricultores	US $ 1,2 milhão
Suporte de equipamentos de agricultores	US $ 0,8 milhão

Bem -estar animal e infraestrutura agrícola

Os investimentos em infraestrutura em 2022 totalizaram US $ 4,6 milhões, com alocações específicas:

• Manutenção de pastagens: US $ 1,7 milhão
• Monitoramento da Saúde Animal: US $ 1,3 milhão
• Atualizações das instalações agrícolas: US $ 1,6 milhão

Marketing e desenvolvimento de marca

As despesas de marketing para 2022 atingiram US $ 18,3 milhões, representando 12,4% da receita total.

Canal de marketing	Despesa
Marketing digital	US $ 8,7 milhões
Publicidade tradicional	US $ 5,2 milhões
Parcerias de marca	US $ 4,4 milhões

Distribuição e logística

Os custos de logística em 2022 foram de US $ 27,6 milhões, com um colapso da seguinte maneira:

• Transporte: US $ 15,3 milhões
• Operações de armazém: US $ 7,2 milhões
• Gerenciamento da cadeia de frio: US $ 5,1 milhões

Processos de embalagem e certificação de produtos

As despesas totais de embalagem e certificação para 2022 foram de US $ 6,5 milhões.

Tipo de certificação	Custo anual
Certificação orgânica do USDA	US $ 2,1 milhões
Processo certificado humano	US $ 1,8 milhão
Materiais de embalagem	US $ 2,6 milhões

Vital Farms, Inc. (Vitl) - Modelo de negócios: fluxos de receita

Vendas de produtos de ovos

A Vital Farms reportou vendas líquidas de US $ 291,8 milhões para o ano fiscal de 2022, com produtos de ovos representando a fonte de receita primária.

Categoria de produto	Receita anual	Porcentagem de vendas totais
Ovos criados em pasto	US $ 238,5 milhões	81.7%
Produtos relacionados a ovos	US $ 53,3 milhões	18.3%

Margens de distribuição de varejo

As fazendas vitais mantêm margens brutas de aproximadamente 35,4% através de parcerias estratégicas de varejo com as principais redes de supermercados.

• Os canais de distribuição de varejo incluem alimentos integrais
• Kroger
• Walmart
• Alvo

Vendas on-line direta ao consumidor

As vendas on -line representaram aproximadamente 5,2% da receita total em 2022, totalizando US $ 15,2 milhões.

Estratégia de preços premium

Produto	Preço médio de varejo	Prêmio de preço
Ovos criados em pasto	US $ 6,99 por dúzia	40% acima dos ovos convencionais

Linhas de produtos em potencial

A receita atual do produto suplementar inclui:

• Manteiga: US $ 8,7 milhões
• Mordidas de ovo: US $ 4,5 milhões
• Ghee: US $ 2,1 milhões

Vital Farms, Inc. (VITL) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Vital Farms, Inc. (VITL) over the competition. It's not just about the carton; it's about the standards behind it, which the company translates into tangible numbers.

Superior Animal Welfare

The foundation of the value proposition is the commitment to animal welfare, which is quantified by the space provided to the laying hens.

• The pasture-raised standard requires each hen to have at least 108 sq ft of outdoor space.
• Vital Farms, Inc. works with a network of 575 family farms as of the third quarter of 2025.
• All Vital Farms farmers implement principles like pasture rotation.

High-Quality, Ethically Produced Food

The company backs its ethical claims with formal certifications and scale, showing it can deliver high-quality products consistently.

• Vital Farms, Inc. is a Certified B Corporation, having been most recently certified in March 2025.
• The company is the leading U.S. brand of pasture-raised eggs by retail dollar sales.
• For fiscal year 2025, Vital Farms, Inc. raised its net revenue guidance to at least $775 million, representing at least 28% growth versus fiscal year 2024.

Here's a quick look at the scale of their operation as of late 2025:

Metric	Value as of Q3 2025 or Latest Guidance
Total Family Farms Partnered	575
Q3 2025 Net Revenue	$198.9 million
FY 2025 Net Revenue Guidance (Lower End)	At least $775 million
FY 2025 Expected Growth vs. FY 2024	At least 28%

Transparency via the Trace Your Farm Feature

Transparency is a key differentiator, supporting the premium price point by allowing consumers to connect with the source.

• The brand is built on high levels of transparency.
• The company's mission includes driving engaged and accountable oversight.

Premium Product with a Clear Taste Difference Justifying a Price Premium

The higher standards are intended to result in a superior product that commands a higher price from consumers who value quality over cost.

• Consumers consistently report that Vital Farms, Inc. eggs provide a richer taste and color than other eggs on the market.
• The company's customers are not as price-sensitive as other egg buyers.
• An example comparison shows pasture-raised eggs potentially selling for $8 per carton while mass-market eggs sell for $3 per carton.

Commitment to Stakeholders as a Public Benefit Corporation

Operating as a Public Benefit Corporation (PBC) legally binds the company to consider all stakeholders, not just stockholders.

• Vital Farms, Inc. is a Delaware public benefit corporation.
• Public benefits include bringing ethically produced food to the table and fostering lasting partnerships with their farms and suppliers.
• The company provided more than $600,000 in philanthropy toward strengthening communities, as noted in the 2025 Impact Report.
• A goal for 2025 is to ensure completion of formal company-wide ethics training by over 95% of all crew members.

Vital Farms, Inc. (VITL) - Canvas Business Model: Customer Relationships

You're looking at how Vital Farms, Inc. builds and maintains its connection with the people buying its products, which is crucial given its premium, values-driven positioning. The relationship strategy is built on radical transparency and mission reinforcement.

Direct, values-aligned communication reinforcing the mission.

Vital Farms, Inc. actively communicates its commitment to ethical production, which is central to its brand identity as a Certified B Corporation. This communication effort is translating into measurable consumer recognition. Brand awareness, for instance, rose to $\mathbf{33\%}$ in the third quarter of 2025. This metric is up $\mathbf{8}$ percentage points year-over-year, showing the mission-driven messaging is cutting through the noise. The company distributes its products nationwide to over $\mathbf{23,500}$ stores.

High transparency through farm traceability features.

The company uses high transparency as a core relationship tool, moving beyond simple claims to verifiable proof. Every egg carton features the farm of origin, allowing consumers to access a $\mathbf{360{\circ}}$ video of that specific small family farm online. This level of traceability is supported by a growing network of partners; as of the third quarter of 2025, Vital Farms, Inc. works with $\mathbf{575}$ family farms, a significant expansion from the $\mathbf{300}$ farms it partnered with at the end of 2023. This network expansion is directly tied to meeting consumer demand for ethically sourced food.

Cultivating strong brand loyalty and high buy rates.

The focus on ethics and transparency directly fuels consumer stickiness. Management cited strong brand loyalty as a key factor in exceeding expectations in the second quarter of 2025. This loyalty is reflected in the increasing amount a loyal customer spends with the brand. The average buy rate has climbed substantially, moving from $\mathbf{\$23.13}$ in 2020 to $\mathbf{\$39.25}$ by the third quarter of 2025. This metric demonstrates that the core consumer base is not only returning but also increasing their basket size with Vital Farms, Inc. products.

Dedicated customer service for premium product inquiries.

Given the premium nature of the products, which command a higher price point than conventional alternatives, customer service is implicitly geared toward high-touch resolution for quality and sourcing questions. The company's commitment extends to all stakeholders, including customers, who are seen as showing the industry that ethics matter. While specific dedicated customer service spending figures aren't broken out for premium inquiries, the overall investment in the brand and supply chain infrastructure, such as the new ERP system implementation, is designed to support consistent product quality and consumer trust.

Here's a quick look at the key customer and brand engagement metrics as of late 2025:

Metric	Value (as of late 2025)	Source Period
Buy Rate (Average Spend)	$39.25	Q3 2025
Brand Awareness	33%	Q3 2025
Total Family Farms in Network	575	Q3 2025
Nationwide Store Distribution	Over 23,500 stores	2025
Household Penetration	Over 14 million homes	Q1 2025

The company's strategy relies on these tangible connections to justify the price premium. If onboarding new farms or production lines causes any quality slip, churn risk rises defintely.

• Farm traceability via $\mathbf{360{\circ}}$ video on carton entry.
• Focus on Certified Humane standards for pasture-raised claims.
• Investment in supply chain to meet demand, which is a form of customer commitment.
• Organic eggs represent over a third of the company's volume, driving a price mix benefit.

Vital Farms, Inc. (VITL) - Canvas Business Model: Channels

You're looking at how Vital Farms, Inc. gets its premium products-mostly pasture-raised eggs-into the hands of consumers as of late 2025. The distribution strategy is heavily weighted toward traditional retail, but they maintain a presence in other key areas.

The primary channel is the retail grocery store. Vital Farms, Inc. products are in over 23,500 stores nationwide, though some reports from mid-2025 suggest this number has grown to approximately 26,000 locations selling their shell eggs, butter, hard-boiled eggs, and liquid whole eggs. This extensive footprint supports their 2025 revenue projection of at least $770 million.

Here's a snapshot of the scale of their distribution network as Vital Farms, Inc. pushes toward its 2025 Adjusted EBITDA target of at least $110 million:

Channel Metric	Data Point (Late 2025 Estimate)	Context/Notes
Total U.S. Stores Carrying Product	23,500 to 26,000	The number cited in the initial outline is 23,500; other reports cite up to 26,000.
Shell Eggs Contribution to Revenue (Q1 2025)	92%	Shell eggs remain the overwhelming driver of top-line sales.
Organic Eggs Volume Share	Over a third	Contributes to higher revenue per unit.
Butter Segment Revenue Share	About 5%	A smaller, but present, revenue stream through these channels.

Within the major national grocery chains, Vital Farms, Inc. has achieved significant shelf dominance. For many of their top 10 customers, which include giants like Kroger and Whole Foods, Vital Farms, Inc. is now the #1 egg brand carried. The current focus is less on expanding the total store count and more on increasing the number of Stock Keeping Units (SKUs) on existing shelves and boosting the velocity (sales speed) of those products.

The foodservice segment, while smaller, is a definite channel for premium placement. Vital Farms, Inc. pasture-raised eggs are found on menus at hundreds of foodservice operators across the country. This channel supports the brand's premium positioning outside of the home kitchen.

Direct-to-consumer engagement via digital platforms and social media is used to build brand loyalty and drive trial, though the company primarily distributes to retailers with its own branding and packaging and does not sell its products to wholesalers. The focus here is on consumer connection rather than being a primary revenue generator like the retail shelf space. You'll see them using their digital presence to reinforce the ethical sourcing story from their network of over 500 family farms.

Vital Farms, Inc. (VITL) - Canvas Business Model: Customer Segments

You're looking at the core buyers Vital Farms, Inc. (VITL) is targeting as of late 2025. These are the groups driving their growth past the $775 million net revenue guidance for the full year 2025.

Health-conscious consumers prioritizing animal welfare and quality.

This group is highly engaged with the brand's mission. Vital Farms, Inc. is a Certified B Corporation, which speaks directly to consumers focused on ethical sourcing. The company works with 575 family farms as of Q3 2025. Brand awareness reached 33% in Q3 2025, an increase of 8 points year-over-year. Household penetration is now over 14 million homes.

Affluent consumers willing to pay a 2-3x premium for ethical food.

The willingness to pay a premium is evident in the financial results, where price/mix benefits are a major growth driver. For the third quarter of 2025, price/mix contributed $26.4 million to the net revenue increase. The company also implemented a price increase for shell egg products described as a 'modest low double-digit percentage' taking effect in Q2 2025 to offset costs. The average buy rate per customer has climbed to $39.25 as of Q3 2025.

Environmentally-conscious buyers seeking Certified Organic and regenerative products.

The focus on ethical and sustainable farming resonates with this segment. Organic eggs alone represent over a third of Vital Farms, Inc.'s total volume. The company's commitment is further demonstrated by its goal to achieve a $1 billion net revenue target by 2027.

Premium foodservice and hospitality businesses.

While retail is the primary focus, the foodservice channel remains an important segment. Vital Farms, Inc. pasture-raised eggs are available on menus at hundreds of foodservice operators nationwide. The company is actively expanding its supply chain capacity to support future growth in this channel and others.

Here's a quick look at the scale of consumer reach and value capture as of late 2025:

Metric	Value/Amount (As of Late 2025)	Source Context
Net Revenue (Q3 2025)	$198.9 million	Quarterly Performance
Full Year 2025 Revenue Guidance (Raised)	At least $775 million	Fiscal Outlook
Retail Store Count (Approximate)	Over 23,000 to 23,500	Nationwide Distribution
Brand Awareness	33%	Q3 2025 Metric
Average Customer Buy Rate	$39.25	Q3 2025 Metric
Q3 2025 Revenue from Price/Mix	$26.4 million	Revenue Drivers

You'll want to watch the velocity metrics, as the buy rate increased significantly, showing these premium customers are buying more often, not just trying the product once. The focus on expanding the farm network to 575 farms is directly tied to satisfying this demand.

Finance: draft 13-week cash view by Friday.

Vital Farms, Inc. (VITL) - Canvas Business Model: Cost Structure

You're looking at the core expenses Vital Farms, Inc. (VITL) is managing as it scales toward its $1 billion net revenue target by 2027. The cost structure is heavily influenced by its commitment to premium sourcing and major infrastructure build-out.

High cost of goods sold (COGS) is inherent because of the premium paid for ethical sourcing. The price paid to family farmers is adjusted quarterly based on changes in feed cost, which primarily involves corn and soy commodities. Honestly, organic feed, which makes up about a third of what the farmers buy, remains more expensive than pre-COVID price spikes.

Capital expenditures (CapEx) for the full fiscal year 2025 are guided to be in the range of $80 million to $100 million. This is a significant outlay supporting future capacity. For the first 39 weeks of 2025, CapEx totaled $44.0 million.

These CapEx dollars are funding major operating cost centers related to infrastructure. You see this in the construction plans for the new Seymour, Indiana facility, which is expected to break ground mid-2025 and be fully operational at the beginning of 2027. Also included are investments in the new production line at Egg Central Station (ECS) in Springfield, Missouri, which came online in Q4 2025, and the go-live of the new ERP system.

Selling, General, and Administrative (SG&A) expenses reflect brand investment and headcount growth. For the third quarter ended September 28, 2025, SG&A represented 22.3% of net revenue. This is an improvement from 24.9% in the third quarter of 2024, showing some operating leverage as revenue grew.

Here's a quick look at some key financial metrics from the Q3 2025 period:

Metric	Value (Q3 2025)	Comparison/Context
Net Revenue	$198.9 million	Up 37.2% versus Q3 2024
Gross Margin	37.7%	Up from 36.9% in Q3 2024
SG&A as % of Revenue	22.3%	Down from 24.9% YoY
CapEx (39 Weeks Ended Sept 28, 2025)	$44.0 million	Part of the full-year guidance of $80M to $100M
Adjusted EBITDA	$27.4 million	Up from $15.2 million in Q3 2024

Farmer incentives and retention payments are a necessary component of maintaining the high-quality supply base. Vital Farms incurred incremental farm recruitment costs in 2024 that continued into 2025 due to elevated construction costs for new farms. Plus, you should expect additional costs in connection with renewal incentives for certain existing farmers during 2025. These costs are recognized over the term of the buy-sell contracts, generally four to six years in length.

The company's cost structure also involves specific operational overheads related to its network expansion:

• Incurred costs for the go-live of the new ERP system in early Q4 2025.
• Costs associated with adding approximately 75 new family farms during Q3 2025, bringing the total network to 575 farms.
• Costs related to the third production line at Egg Central Station in Springfield, Missouri.
• Incremental farm recruitment costs continuing into 2025.

Vital Farms, Inc. (VITL) - Canvas Business Model: Revenue Streams

You're looking at how Vital Farms, Inc. converts its value proposition into actual cash flow, which is heavily concentrated in its core product. The primary engine for Vital Farms' revenue is, without question, its pasture-raised shell eggs. This category consistently makes up the vast majority of the top line, with reports indicating shell eggs contribute over 90% of total revenue, being the lion share of sales.

Still, the business isn't a one-trick pony. Secondary revenue streams come from other ethically produced offerings. These include pasture-raised butter and hard-boiled eggs, alongside liquid whole eggs. To give you a concrete look at the scale, in the second quarter of 2025, the breakdown showed this diversification:

Revenue Stream Category	Q2 2025 Net Revenue Amount	Year-over-Year Growth
Egg-Related Sales	$178.4 million	24%
Butter and Butter-Related Products	$6.4 million	45%

That butter segment showed impressive percentage growth, even if it's a small slice of the total pie. Revenue generation for Vital Farms is clearly driven by two main levers: volume growth and favorable price/mix adjustments. For instance, in the third quarter of 2025, the net revenue of $198.9 million was a record, with volume-related revenue growth contributing $27.5 million and price/mix benefits adding $26.4 million. It's a good sign when you can grow sales by selling more units and getting better pricing.

Based on this strong momentum, management has tightened its expectations for the full fiscal year 2025. Here's the quick math on the latest guidance:

• Full-year 2025 Net Revenue guidance is set at a minimum of $775 million, which represents at least 28% growth versus fiscal year 2024.
• Adjusted EBITDA for FY 2025 is now expected to be at least $115 million, up from previous expectations.
• The trailing twelve months (TTM) revenue as of late 2025 was reported at $711.88M.

What this estimate hides is that the growth is heavily reliant on successfully scaling the supply chain, like the new production line at Egg Central Station, to meet the high consumer demand. Finance: draft 13-week cash view by Friday.