Vital Farms, Inc. — Form 8-K

Vital Farms reported Q2 2026 net revenue of $166.0M (down 10.1% YoY) with a net loss of $31.1M versus prior-year net income of $16.6M, driven by industry-wide egg oversupply and $19.5M in excess breaker sales at depressed prices. Gross margin collapsed to 6.6% from 38.9% YoY. The company closed new credit facilities: a $125M 3-year term loan and a $60M 3-year asset-based lending facility, replacing prior revolving credit. On August 3, 2026, the Board terminated the stock repurchase program (1.1M shares at $13.29/share had been repurchased for $15.0M in Q2). Cash declined to $21.2M from $48.8M at year-end 2025. Full-year FY2026 guidance maintained: $775M–$800M revenue and $0M–$10M Adjusted EBITDA, assuming oversupply costs of mid-$30M range.