Lifeway Foods, Inc.
Business
Lifeway Foods, Inc. manufactures and markets drinkable kefir, a cultured dairy product, along with European-style soft cheeses, drinkable yogurt, cream, and other dairy products under the Lifeway, Fresh Made, and GlenOaks Farms brand names, as well as private-label products. The company produces the majority of its revenue from its own four manufacturing facilities across Illinois, Wisconsin, and Pennsylvania, with the remainder from co-packers. Lifeway distributes products primarily through three channels: retail-direct, distributor, and direct store delivery, reaching consumers in the United States and select international markets including Mexico, Central America, South America, the Caribbean, France, Ireland, and the Middle East.
Summary from 10-K filed 2026-03-17
Financials
Consolidated Statement of Income
| Concept | Trend | 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 |
|---|---|---|---|---|---|---|
| Net sales | 212 | 187 | 160 | 142 | 119 | |
| Cost of goods sold | 151 | 135 | 115 | 112 | 88 | |
| Depreciation expense | 3 | 3 | 3 | 2 | 3 | |
| Total cost of goods sold | 154 | 138 | 118 | 115 | 90 | |
| Gross profit | 58 | 49 | 42 | 27 | 29 | |
| Selling expenses | 20 | 15 | 12 | 11 | 11 | |
| General and administrative | 22 | 19 | 13 | 13 | 12 | |
| Amortization expense | 540,000 | 540,000 | 540,000 | 540,000 | 122,000 | |
| Total operating expenses | 42 | 35 | 25 | 24 | 23 | |
| Income from operations | 16 | 14 | 17 | 2 | 6 | |
| Interest expense | −77,000 | −105,000 | −384,000 | — | — | |
| Fair value loss on investment | −95,000 | 0 | — | — | — | |
| Gain on sale of investment | 3 | 0 | — | — | — | |
| Gain (loss) on sale of property and equipment | 0 | −8,000 | — | — | — | |
| Other income | 279,000 | 230,000 | 4,000 | 0 | −62,000 | |
| Total other income (expense) | 4 | 117,000 | −346,000 | −508,000 | −264,000 | |
| Income before provision for income taxes | 20 | 14 | 17 | 2 | 6 | |
| Provision for income taxes | 6 | 5 | 5 | 917,000 | 2 | |
| Net income | 14 | 9 | 11 | 924,000 | 3 | |
| Basic (per share) | 0.91 | 0.61 | 0.77 | 0.06 | 0.21 | |
| Diluted (per share) | 0.89 | 0.6 | 0.75 | 0.06 | 0.21 | |
| Basic (shares) | 15 | 15 | 15 | 15 | 16 | |
| Diluted (shares) | 16 | 15 | 15 | 16 | 16 |
Consolidated Balance Sheet
| Concept | Trend | 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 | 6 | 17 | 13 | 4 | 9 | |
| Accounts receivable, net of allowance for credit losses and discounts & allowances of $1,730 and $1,590 at December 31, 2025 and 2024, respectively | 17 | 15 | 14 | 11 | 10 | |
| Inventories, net | 12 | 9 | 9 | 10 | 8 | |
| Prepaid expenses and other current assets | 3 | 2 | 2 | 1 | 1 | |
| Refundable income taxes | 325,000 | 631,000 | 0 | 44,000 | 344,000 | |
| Total current assets | 37 | 44 | 38 | 27 | 29 | |
| Property, plant and equipment, net | 48 | 27 | 23 | 21 | 20 | |
| Operating lease right-of use asset | 465,000 | 118,000 | 192,000 | 174,000 | 216,000 | |
| Goodwill | 12 | 12 | 12 | 12 | 12 | |
| Intangible assets, net | 6 | 6 | 7 | 7 | 8 | |
| Other assets | 2 | 2 | 2 | 2 | 2 | |
| Total assets | 106 | 91 | 82 | 69 | 71 | |
| Accounts payable | 11 | 10 | 10 | 8 | 7 | |
| Accrued expenses | 5 | 5 | 5 | 4 | 4 | |
| Total current liabilities | 17 | 16 | 17 | 13 | 12 | |
| Operating lease liabilities | 360,000 | 70,000 | 118,000 | 104,000 | 85,000 | |
| Deferred income taxes, net | 3 | 3 | 3 | 3 | 3 | |
| Total liabilities | 20 | 19 | 21 | 21 | 22 | |
| Commitments and contingencies (Note 9) | — | — | — | — | — | |
| Preferred stock, no par value; 2,500 shares authorized; none issued | 0 | 0 | 0 | 0 | 0 | |
| Common stock, no par value; 40,000 shares authorized; 17,274 shares issued; 15,232 and 15,100 shares outstanding at 2025 and 2024 | 7 | 7 | 7 | 7 | 7 | |
| Treasury stock, at cost | −13 | −14 | −17 | −17 | −13 | |
| Paid-in capital | 4 | 5 | 5 | 4 | 3 | |
| Retained earnings | 89 | 75 | 66 | 54 | 54 | |
| Total stockholders equity | 86 | 72 | 60 | 48 | 49 | |
| Total liabilities and stockholders equity | 106 | 91 | 82 | 69 | 71 |
Consolidated Statement of Cash Flows
| Concept | Trend | 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 | 4 | 3 | 3 | 3 | 3 | |
| Stock-based compensation | 2 | 2 | 1 | 1 | 1 | |
| Non-cash interest expense | 19,000 | 17,000 | 6,000 | 6,000 | 11,000 | |
| (Gain) loss on sale of equipment | −115,000 | 8,000 | — | — | — | |
| Fair value loss on investment | 96,000 | 0 | — | — | — | |
| Deferred income taxes | −270,000 | 61,000 | −28,000 | −172,000 | 257,000 | |
| Accounts receivable | −1 | −2 | −2 | −1 | −2 | |
| Inventories | −3 | 426,000 | 527,000 | −1 | −1 | |
| Prepaid expenses and other current assets | 151,000 | −125,000 | −574,000 | −191,000 | −91,000 | |
| Refundable income taxes | 306,000 | −631,000 | 44,000 | 300,000 | −313,000 | |
| Accounts payable | 238,000 | 156,000 | 2 | 2 | 1 | |
| Accrued expenses | −2 | 217,000 | 1 | 434,000 | 504,000 | |
| Accrued income taxes | 218,000 | −474,000 | 474,000 | −725,000 | 72,000 | |
| Net cash provided by operating activities | 11 | 13 | 17 | 4 | 6 | |
| Purchases of property and equipment | −27 | −7 | −4 | −3 | −2 | |
| Proceeds from sale of equipment | 115,000 | 15,000 | 41,000 | — | — | |
| Proceeds from sale of investments | 5 | 0 | — | — | — | |
| Net cash used in investing activities | −22 | −7 | −4 | −4 | −7 | |
| Repayment of note payable | 0 | −3 | −1 | −750,000 | −500,000 | |
| Payment of deferred financing costs | −65,000 | 0 | — | — | — | |
| Net cash used in financing activities | −65,000 | −3 | −4 | −5 | 3 | |
| Net (decrease) increase in cash and cash equivalents | −11 | 4 | 9 | −5 | 1 | |
| Cash paid for income taxes, net of (refunds) | 6 | 6 | 5 | 1 | 2 | |
| Cash paid for interest | 58,000 | 98,000 | 415,000 | 247,000 | 102,000 | |
| Accrued purchase of property and equipment | 774,000 | 407,000 | 137,000 | 424,000 | — | |
| Right-of-use assets obtained in exchange for lease obligations | 426,000 | 0 | 94,000 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Lifeway Foods, Inc.'s CIK number?
Lifeway Foods, Inc.'s SEC CIK number is 0000814586 (814586). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Lifeway Foods, Inc.'s SEC filings?
All of Lifeway Foods, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Lifeway Foods, Inc. last report earnings?
Lifeway Foods, Inc. (LWAY) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001683168-26-003838). This is Lifeway Foods, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Lifeway Foods, Inc.'s most recent earnings 8-K?
Lifeway Foods, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001683168-26-003838. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Lifeway Foods, Inc.'s latest earnings 8-K →
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