v3.25.2

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Sep. 30, 2024
Current assets:
Cash and cash equivalents	$ 13,178	$ 8,871
Accounts receivable, net	12,810	12,610
Merchandise inventory	124,626	120,672
Prepaid expenses and other current assets	6,362	4,905
Total current assets	156,976	147,058
Property and equipment, net	181,037	178,609
Other assets:
Operating lease assets, net	263,928	275,111
Finance lease assets, net	40,643	40,752
Other assets	4,218	458
Goodwill and other intangible assets, net	12,195	13,488
Total other assets	320,984	329,809
Total assets	658,997	655,476
Current liabilities:
Accounts payable	82,455	88,397
Accrued expenses	31,481	35,847
Operating lease obligations, current portion	36,428	35,926
Finance lease obligations, current portion	4,128	3,960
Total current liabilities	154,492	164,130
Long-term liabilities:
Operating lease obligations, net of current portion	250,724	263,404
Finance lease obligations, net of current portion	43,253	43,217
Deferred income tax liabilities, net	8,027	10,471
Total long-term liabilities	302,004	317,092
Total liabilities	456,496	481,222
Stockholders’ equity:
Common stock, $0.001 par value, 50,000,000 shares authorized, 22,954,109 and 22,888,540 shares issued and outstanding at June 30, 2025 and September 30, 2024, respectively	23	23
Additional paid-in capital	62,185	60,327
Retained earnings	140,293	113,904
Total stockholders’ equity	202,501	174,254
Total liabilities and stockholders’ equity	$ 658,997	$ 655,476

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Natural Grocers by Vitamin Cottage, Inc. 10-Q