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Willamette Valley Vineyards Inc. (WVVI) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024. filing
The filing details the company's operations, including its two main segments: direct sales and distributor sales. Direct sales include retail sales in tasting rooms, wine club sales, and online sales, while distributor sales involve third-party sales at wholesale rates.
The company reported net sales of $39,782,442 for the year, an increase of 1.7% from the previous year. Direct sales accounted for 53.4% of total revenue, while distributor sales made up 46.6%.
Cost of sales decreased by 6.0% to $15,586,986, resulting in a gross profit of $24,195,456, up 7.3% from the prior year.
Operating expenses totaled $23,623,598, a slight decrease from the previous year. This resulted in an income from operations of $571,858.
The company reported a net loss of $117,894, significantly reduced from the previous year's loss of $1,198,593.
Willamette Valley Vineyards produced approximately 253,974 cases of wine in 2024, with Pinot Noir being the flagship varietal.
The company continues to focus on expanding its vineyard acreage and increasing direct-to-consumer sales through new tasting rooms and wine club memberships.
The filing also discusses various risks, including agricultural risks, competition, and regulatory changes, which could impact future operations.
The company maintains a strong focus on environmental stewardship and sustainability practices across its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Willamette Valley Vineyards Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.