Vital Farms reported a net income of US$53.4 million for the fiscal year that ended December 29, 2024, a 108.8% increase compared to fiscal 2023. Additionally, it saw a net revenue increase of 28.5% to US$606.3 million.
According to the producer’s recent financial review, the increase is attributed to the supply chain expansions, marketing investments and brand growth strategies it implemented in 2024.
Vital Farms President and CEO Russell Diez-Canseco stated: “2024 was an outstanding year for Vital Farms. We exceeded US$600 million in net revenue, keeping us well on track to deliver our US$1 billion sales target by 2027. We also added approximately 125 new family farms, and our farm network at the end of 2024 totaled more than 425, with more on the way. We accomplished these milestones while investing in the Vital Farms brand and expanding our supply chain capabilities to ensure future growth.”
Additionally, Vital Farms reported financial results for the fourth quarter of fiscal 2024. It saw a net revenue increase of 22.2% to US$166 million and a net income increase of 46.8% to US$10.6 million compared to the same quarter last year.
Diez-Canseco continued: “We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit.”
Vital: consumer brand trust helps build businesses
During the 2025 ICR Consumer Conference, Diez-Canseco presented on the correlation between consumer trust and business growth.
Consumer trust is a growing priority to customers as there is interest in how foods are produced, and building a brand that consumers trust from the beginning is the key to advancing a business quickly, he explained. However, research has confirmed that a large portion of consumers are confused about eggs claims such as free range, pasture raised, cage free or organic.
“Surprisingly, more than half of the people that buy our eggs don't know that they are called pasture raised,” he said. “Our takeaway is people are looking to us because they trust us in the way that we operate. They trust us to be transparent. They trust the brand.”
