Record First Quarter Volume and Net Sales
Vital Farms reported a net revenue of $162 million for the first quarter, marking a 10% increase from the previous year and the company's twentieth consecutive quarter of year-over-year volume and net revenue growth.
Strong Growth in Butter Business
The butter segment experienced a robust growth with net revenue up 41% year-over-year, driven by increasing demand and improved supply chain capabilities.
Expansion of Farm Network
Vital Farms added approximately 25 new family farms to its network in the first quarter, increasing their network by roughly 50% since the end of 2023, with 8.2 million hens under contract.
Improved Brand Awareness
Brand awareness increased to 31%, a five-point increase since the beginning of the year, partly due to increased media attention on the egg industry.