Tue, Mar 25, 9:16 PM (33 days ago)
**Summary of Willamette Valley Vineyards, Inc. (WVVI) 10-K** **Financial Performance:** - **Revenue:** $39,782,442 in 2024, up 1.7% from 2023. - **Net Income:** Net loss of $117,894 in 2024, improved from a net loss of $1,198,593 in 2023. - **Gross Profit:** $24,195,456 in 2024, up 7.3% from 2023. - **Operating Expenses:** $23,623,598 in 2024, slightly down from 2023. - **Earnings per Share:** Loss per common share after preferred dividends was $0.48 in 2024, improved from $0.65 in 2023. **Strategic Overview:** - **Mission:** To become a premier producer of Pinot Noir in the Pacific Northwest. - **Strategy:** Focus on high-quality grape production, brand recognition, and direct-to-consumer sales. - **Expansion:** Plans to develop new vineyards and wineries, including in the Walla Walla AVA. **Future Outlook:** - **Market Position:** Aims to increase market share in Oregon and penetrate other wine markets. - **Growth:** Emphasis on direct-to-consumer sales and national sales to distributors. - **Innovation:** Investment in new production technologies and sustainable practices. **Risk Factors:** - **Agricultural Risks:** Diseases, pests, weather conditions, and phylloxera infestation. - **Market Risks:** Competition, consumer preferences, and economic conditions. - **Operational Risks:** Dependence on key employees, funding requirements, and regulatory changes. **Financial Condition:** - **Liquidity:** Working capital of $23.9 million and a current ratio of 2.84:1. - **Debt:** Outstanding long-term debt of $14.0 million and a line of credit balance of $2.4 million. - **Cash Flow:** Negative cash flow from operations but positive cash flow from financing activities. **Market Position Changes:** - **Sales Channels:** Direct-to-consumer sales contribute 53.4% of total revenue. - **Product Mix:** Focus on premium, super-premium, and ultra-premium wines. - **Brand Recognition:** Awards and accolades enhance brand reputation. **Ticker:** WVVI **Note:** Amounts are in thousands, 000s.