Village Farms International, Inc.

Listed Company

VFFCIK 0001584549NasdaqAcceleratedSmaller ReportingAgricultural Production-CropsA6CAFY ends Dec 31

Period

FY 2025

Revenue

$215.94M

Net Income

$32.44M

Total Assets

$423.10M

Equity

$299.90M

Shares Out

115.10M

Op. Cash Flow

$58.11M

Business

Village Farms International, Inc. operates controlled-environment agriculture and cannabinoid businesses, leveraging greenhouse expertise to produce fresh produce, cannabis and hemp-derived products and to develop renewable natural gas projects. It produces and distributes fresh tomatoes, peppers, cucumbers and other greenhouse-grown produce; cultivates and markets cannabis flower and derivative products; and develops CBD and cannabinoid consumer wellness products sold via its CBDistillery e-commerce platform. Its key segments include Village Farms Fresh, Pure Sunfarms, Rose LifeScience, Balanced Health Botanicals, VF Clean Energy and Leli Holland. The company sells through retail supermarkets, provincial distributors, brick-and-mortar retailers, e-commerce and international export markets in North America and the Netherlands.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	216	196	163	294	268
Cost of sales	−128	−150	−115	−266	−223
Gross profit	88	46	48	27	45
Selling, general and administrative expenses	−60	−62	−57	−72	−54
Interest expense	−3	−3	−4	−3	−3
Interest income	1	914,000	1	207,000	126,000
Foreign exchange gain (loss)	2	−3	602,000	−2	−476,000
Other income	4	4	32,000	−115,000	−420,000
Goodwill and intangible asset impairments	0	−12	−14	−43	—
Other impairments	−217,000	−439,000	0	—	—
Income (Loss) before taxes and loss from equity method investments	31	−30	−26	−94	−12
(Provision for) recovery of income taxes	−10	2	−7	−5	4
Income on equity method investments	0	0	0	−3	−308,000
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	21	−28	−33	—	—
Income (loss) from discontinued operations, net of tax	11	−8	−2	—	—
Income (loss) including non-controlling interests	32	−36	−35	−101	−9
Less: net loss (income) attributable to non-controlling interests, net of tax	336,000	−207,000	21,000	269,000	46,000
Income (loss) from discontinued operations, net of tax	32	−36	−35	−101	−9
Basic income (loss) per share attributable to Village Farms International, Inc. shareholders Continuing operations	0.19	−0.25	−0.3	—	—
Basic income (loss) per share attributable to Village Farms International, Inc. shareholders, Discontinued operations	0.1	−0.07	−0.02	—	—
Earnings Per Share, Basic, Total	0.29	−0.32	−0.32	−1.13	−0.11
Diluted income (loss) per share attributable to Village Farms International, Inc. shareholders from, Continuing operations	0.18	−0.25	−0.3	—	—
Diluted income (loss) per share attributable to Village Farms International, Inc. shareholders , Discontinued operations	0.09	−0.07	−0.02	—	—
Earnings Per Share, Diluted, Total	0.27	−0.32	−0.32	−1.13	−0.11
Basic	113	111	109	89	82
Diluted	119	111	109	89	82
Foreign currency translation adjustment	10	−16	4	−15	441,000
Comprehensive income (loss) including non-controlling interests	42	−52	−31	−117	−9
Less: comprehensive (income) loss attributable to non-controlling interests	−206,000	665,000	−436,000	1	−63,000
Comprehensive income (loss) attributable to Village Farms International, Inc. shareholders	42	−51	−31	−115	−9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	81	25	30	17	53
Restricted cash	5	0	5	5	5
Trade receivables, net	23	22	31	28	34
Inventories, net	42	41	78	71	69
Other receivables	324,000	247,000	294,000	309,000	616,000
Prepaid expenses and deposits	3	3	7	6	10
Current assets of discontinued operations (Note 10)	0	25	—	—	—
Total current assets	154	116	152	133	175
Property, plant and equipment, net	186	175	206	208	216
Investments	6	3	3	2	2
Goodwill	44	42	56	66	118
Intangibles, net	24	25	32	37	26
Deferred tax asset	694,000	1	1	4	17
Right-of-use assets	4	4	13	9	8
Other assets	4	2	2	6	3
Non-current assets of discontinued operations (Note 10)	0	20	—	—	—
Total assets	423	389	464	465	567
Line of credit	0	4	4	8	8
Trade payables	16	11	22	25	23
Current maturities of long-term debt	5	8	9	10	11
Accrued sales taxes	9	9	16	12	4
Accrued loyalty program	541,000	1	2	2	2
Accrued liabilities	13	9	15	13	14
Lease liabilities - current	1	1	2	2	962,000
Income tax payable	12	51,000	28,000	—	—
Other current liabilities	2	1	2	1	1
Current liabilities of discontinued operations (Note 10)	0	18	—	—	—
Total current liabilities	59	62	72	72	64
Long-term debt	29	32	39	44	50
Deferred tax liability	18	20	24	20	19
Lease liabilities - non-current	4	4	11	8	7
Other liabilities	3	2	2	2	2
Non-current liabilities of discontinued operations (Note 10)	0	4	—	—	—
Total liabilities	113	125	148	145	142
Commitments and contingencies (note 12)	—	—	—	—	—
Redeemable non-controlling interests	10	10	16	16	16
Common stock, no par value per share - unlimited shares authorized ;115,722,312 shares issued and outstanding at December 31, 2025 and 112,337,049 shares issued and outstanding at December 31, 2024.	392	387	387	372	366
Additional paid in capital	29	31	26	13	9
Accumulated other comprehensive loss	−9	−19	−4	−8	7
Retained earnings	−113	−145	−109	−74	27
Total shareholders' equity	300	254	300	304	408
Total liabilities, mezzanine equity and shareholders equity	423	389	464	465	567

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	16	17	14	13	13
Amortization of deferred charges	116,000	10,000	136,000	214,000	300,000
Interest paid on long-term debt	−3	−4	−5	−3	−3
Unrealized foreign exchange loss	13,000	233,000	64,000	83,000	—
Inventory and other impairments	217,000	11	—	11	—
Non-cash lease expense	951,000	731,000	1	2	−1
Share-based compensation	2	4	3	4	8
Deferred income taxes	−2	−2	7	10	−3
Changes in non-cash working capital items	20	−97,000	1	−5	−47
Net cash provided by operating activities from continuing operations	58	14	8	—	—
Purchases of property, plant and equipment	−18	−7	−4	−14	−22
Purchases of intangibles	−395,000	−158,000	—	—	—
Equity investment	—	—	−548,000	—	−1
Repayment of note receivable	—	—	835,000	—	—
Net cash used in investing activities from continuing operations	−19	−7	−3	—	—
Proceeds from borrowings	19	—	—	7	20
Repayments on borrowings	−27	−6	−9	−10	−9
Purchase of non-controlling interest	—	−4	—	—	—
Proceeds from issuance of common stock and warrants	—	0	25	7	135
Issuance costs	—	0	−1	−206,000	−8
Share repurchases	−3	—	—	—	−5
Proceeds from exercise of warrants and stock options	5	—	83,000	—	—
Other financing activities	−546,000	—	—	—	—
Net cash used in (provided by) financing activities from continuing operations	−6	−10	14	—	—
Net cash (used in) provided by operating activities from discontinued operations	−8	−3	−2	—	—
Net cash provided by (used in) investing activities from discontinued operations	39	−3	−3	—	—
Net cash used in financing activities from discontinued operations	−4	0	0	—	—
Net cash flows provided by discontinued operations	26	−6	−5	—	—
Effect of exchange rate changes on cash and cash equivalents	2	−1	394,000	−699,000	142,000
Net increase (decrease) in cash, cash equivalents and restricted cash	62	−11	14	−37	33
Operating lease right-of-use assets	691,000	117,000	6	—	—
Operating lease liabilities	691,000	117,000	6	—	—
Income Taxes Paid	93,000	—	—	—	2

Filings

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