WILLAMETTE VALLEY VINEYARDS INC

Listed Company

WVVIPCIK 0000838875NasdaqNon-AcceleratedSmaller ReportingBeveragesOregonFY ends Dec 31

Period

FY 2025

Revenue

$37.20M

Net Income

$-917.7K

Total Assets

$107.74M

Equity

$66.19M

Shares Out

4.98M

Op. Cash Flow

$-1.79M

Business

WILLAMETTE VALLEY VINEYARDS INC produces and sells premium, super premium and ultra‑premium wines made primarily from grapes grown in its owned, leased, or contracted vineyards and from purchased grapes. Its main products include Pinot Noir, Chardonnay, Pinot Gris, Pinot Blanc, Sauvignon Blanc, Riesling, sparkling wines and varietals marketed under labels such as Willamette Valley Vineyards, Domaine Willamette, Griffin Creek, Tualatin Estate, Pambrun, Maison Bleue, Natoma, Metis, Pere Ami and Elton. The company operates two business segments—direct sales (tasting rooms, wine clubs, e‑commerce and on‑site events) and distributor sales through independent distributors and brokers. It distributes products across 49 U.S. states and the District of Columbia, with tasting room and winery retail locations in Oregon, Washington and California and limited export customers.

Summary from filing dated 2025-03-25

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, NET	37	40	39	34	32
COST OF SALES	15	16	17	15	13
GROSS PROFIT	22	24	23	19	19
Sales and marketing	17	17	18	14	10
General and administrative	6	7	6	6	5
Total operating expenses	24	24	24	19	15
INCOME (LOSS) FROM OPERATIONS	−1	571,858	−1	−546,418	4
Interest expense, net	−1	−1	−594,079	−367,745	−391,272
Other income, net	1	99,629	114,827	142,529	155,183
LOSS BEFORE INCOME TAXES	−1	−344,693	−2	−766,138	3
INCOME TAX BENEFIT	291,581	226,799	487,861	119,646	−1
NET LOSS	−917,685	−117,894	−1	−646,492	2
Preferred stock dividends	−2	−2	−2	−2	−1
LOSS APPLICABLE TO COMMON SHAREHOLDERS	−3	−2	−3	−3	1
Loss per common share after preferred dividends, basic and diluted	−0.64	−0.48	—	—	—
Weighted-average number of common shares outstanding, basic and diluted	5	5	5	5	5

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	410,886	320,883	238,482	338,676	14
Accounts receivable, net	5	3	3	4	3
Inventories	33	33	28	22	19
Prepaid expenses and other current assets	659,033	519,608	522,854	454,085	299,461
Income tax receivable	44,117	19,267	121,959	557,224	138,986
Total current assets	39	37	32	28	36
Other assets	13,824	13,824	13,824	13,824	13,824
Vineyard development costs, net	9	9	9	8	8
Property and equipment, net	49	52	53	54	41
Operating lease right of use assets	11	11	11	9	6
TOTAL ASSETS	108	109	106	99	91
Accounts payable	2	2	2	3	2
Accrued expenses	2	2	1	1	1
Investor deposits for preferred stock	2	—	718,857	147,511	4
Bank overdraft	—	473,016	393,416	—	—
Line of credit	3	2	3	166,617	—
Note payable	884,221	995,968	1	1	1
Current portion of long-term debt	1	952,171	522,798	496,970	472,420
Current portion of lease liabilities	490,247	481,801	450,452	768,818	443,484
Unearned revenue	3	2	2	1	938,257
Grapes payable	654,832	2	2	1	1
Total current liabilities	14	13	14	10	12
Long-term debt, net of current portion and debt issuance costs	14	13	7	6	5
Lease liabilities, net of current portion	11	11	11	9	6
Deferred income taxes	2	3	3	3	4
Total liabilities	42	40	35	28	26
Redeemable preferred stock, no par value, 100,000,000 shares authorized, 10,239,573 shares issued and outstanding, liquidation preference $42,494,228 at December 31, 2025 and December 31, 2024, respectively.	43	43	42	39	31
Common stock, no par value, 10,000,000 shares authorized, 4,979,529 shares issued and outstanding at December 31, 2025 and 4,964,529 shares issued and outstanding at December 31, 2024	9	9	9	9	9
Retained earnings	14	17	20	23	25
Total shareholders equity	66	69	71	70	65
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	108	109	106	99	91

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	3	3	3	2	2
Loss on disposition of property & equipment	21,212	—	—	—	−5,905
Non-cash lease expense	640,119	563,439	1	615,690	423,118
Debt issuance costs	20,071	13,247	13,248	13,246	13,248
Deferred income taxes	−355,988	−374,970	−528,859	−156,030	345,408
Accounts receivable	−1	−156,981	1	−1	−491,799
Inventories	−472,590	−5	−6	−3	−1
Prepaid expenses and other current assets	−139,425	3,246	−68,769	−154,624	−117,195
Income tax receivable	−24,850	102,692	435,265	−418,238	345,574
Unearned revenue	−980,964	−851,072	−704,673	−573,956	−419,878
Lease liabilities	−487,162	−455,191	−1	−383,189	−334,094
Grapes payable	−864,255	−927,146	1	−179,928	81,436
Accounts payable	−54,902	−383,498	180,640	818,157	−136,741
Accrued expenses	−188,652	615,482	53,874	271,557	−178,302
Net cash from operating activities	−2	−3	−2	−3	3
Additions to vineyard development costs	−58,720	−237,437	−419,023	−670,257	−288,973
Additions to property and equipment	−444,167	−2	−4	−15	−10
Net cash from investing activities	−502,887	−2	−5	−15	−10
Proceeds from investor deposits held as liability	2	—	718,857	147,511	4
Payment on installment note for property purchase	−111,747	−104,767	−100,303	−94,503	−89,040
Proceeds from (payments on) bank overdraft	−473,016	79,600	393,416	—	—
Proceeds from (payments on) line of credit	734,325	−279,167	3	166,617	—
Payment of loan fees	—	−86,166	—	—	—
Payment on long-term debt	−2	−4	−496,944	−472,442	−450,132
Proceeds from long-term debt	3	10	1	2	—
Proceeds from issuance of preferred stock	—	250,503	3	4	5
Payment of preferred stock dividend	−965,183	−902,405	−814,164	−788,351	−708,225
Net cash from financing activities	2	5	7	5	7
NET CHANGE IN CASH AND CASH EQUIVALENTS	90,003	82,401	−100,194	−13	−252,470
Purchases of property and equipment and vineyard development costs included in accounts payable	27,900	10,467	68,855	1	1
Reduction in investor deposits for preferred stock	—	718,857	147,511	4	510,636
Gift cards given in lieu of cash dividends	1	1	1	1	736,058
Right of use assets obtained in exchange for operating lease liabilities	22,363	438,572	4	3	2
Interest paid	1	1	595,109	368,691	389,163
Income tax paid	92,484	45,992	−394,268	417,686	329,898

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