Lifeway Foods Inc (LWAY) financial statements: income statement, balance sheet and cash flow
Lifeway Foods Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Lifeway Foods Inc reported revenue of $212.5M (+13.7% year on year) and net income of $13.9M (+53.6% year on year).
Income statement
Lifeway Foods Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$212.5M
$186.8M
$160.1M
$141.6M
Cost of Revenue
$150.8M
$135.4M
$115.1M
$112.3M
Depreciation Expense
$3.4M
$2.8M
$2.6M
$2.4M
Total cost of goods sold
$154.3M
$138.2M
$117.7M
$114.8M
Gross profit
$58.2M
$48.6M
$42.4M
$26.8M
Selling, General and Administrative Expense
$19.9M
$14.7M
$11.8M
$11.3M
Selling, General and Administrative Expense
$21.6M
$19.4M
$13.1M
$12.6M
Amortization of Intangibles
$540.0K
$540.0K
$540.0K
$540.0K
Total operating expenses
$42.0M
$34.7M
$25.4M
$24.4M
Income from operations
$16.2M
$13.9M
$17.0M
$2.3M
Interest expense
($77.0K)
($105.0K)
($384.0K)
($267.0K)
Fair value loss on investment
($95.0K)
—
—
—
Non-Operating Income (Expense)
$3.4M
—
—
$0
Gain (loss) on sale of property and equipment
$0
—
—
—
Non-Operating Income (Expense)
$279.0K
$230.0K
$4.0K
$0
Total other income (expense)
$3.5M
$117.0K
($346.0K)
($508.0K)
Income before provision for income taxes
$19.7M
$14.0M
$16.6M
$1.8M
Income Tax Expense
$5.8M
$4.9M
$5.3M
$917.0K
Net income
$13.9M
$9.0M
$11.4M
$924.0K
Earnings Per Share (Basic)
$0.91
$0.61
$0.77
$0.06
Earnings Per Share (Diluted)
$0.89
$0.60
$0.75
$0.06
Basic
15.2M
14.8M
14.7M
15.4M
Diluted
15.5M
15.1M
15.1M
15.7M
Lifeway Foods Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$66.9M
$63.0M
$57.1M
$53.9M
Cost of Revenue
$52.9M
$44.7M
$39.8M
$37.7M
Depreciation Expense
$1.0M
$920.0K
$914.0K
$832.0K
Total cost of goods sold
$53.9M
$45.7M
$40.7M
$38.5M
Gross profit
$13.0M
$17.4M
$16.4M
$15.4M
Selling, General and Administrative Expense
$7.6M
$6.2M
$5.0M
$4.7M
Selling, General and Administrative Expense
$4.7M
$4.7M
$6.2M
$4.8M
Amortization of Intangibles
$135.0K
$135.0K
$135.0K
$135.0K
Total operating expenses
$12.4M
$11.0M
$11.4M
$9.6M
Income from operations
$600.0K
$6.3M
$5.0M
$5.8M
Interest expense
($215.0K)
($68.0K)
($21.0K)
($21.0K)
Fair Value Loss on investments
$0
—
$0
$0
Non-Operating Income (Expense)
$0
$0
$0
$55.0K
Non-Operating Income (Expense)
$22.0K
$0
$73.0K
$82.0K
Total other income (expense)
($193.0K)
($68.0K)
$52.0K
$116.0K
Income before provision for income taxes
$407.0K
$6.3M
$5.1M
$5.9M
Income Tax Expense
$280.0K
$1.6M
$1.6M
$1.7M
Net income
$127.0K
$4.7M
$3.5M
$4.2M
Earnings Per Share (Basic)
$0.01
$0.31
$0.23
$0.28
Earnings Per Share (Diluted)
$0.01
$0.30
$0.23
$0.28
Basic
15.2M
15.3M
15.2M
15.2M
Diluted
15.3M
15.6M
15.4M
15.4M
Balance sheet
Lifeway Foods Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and Cash Equivalents
$5.6M
$16.7M
$13.2M
$4.4M
Accounts Receivable
$16.6M
$15.4M
$13.9M
$11.4M
Inventory
$11.9M
$8.7M
$9.1M
$9.6M
Other Non-Operating Current Assets
$2.6M
$2.1M
$2.0M
$1.4M
Income Tax Receivable
$325.0K
$631.0K
$0
$44.0K
Total current assets
$37.1M
$43.6M
$38.2M
$27.0M
Property, Plant and Equipment
$48.3M
$26.9M
$22.8M
$20.9M
Operating Lease Right-of-Use Asset
$465.0K
$118.0K
$192.0K
$174.0K
Goodwill
$11.7M
$11.7M
$11.7M
$11.7M
Intangible Assets
$5.8M
$6.4M
$6.9M
$7.4M
Other Non-Operating Current Assets
$2.3M
$1.9M
$1.9M
$1.8M
Total assets
$105.6M
$90.5M
$81.7M
$69.0M
Accounts Payable
$11.0M
$10.4M
$10.0M
$8.0M
Other Current Liabilities
$5.4M
$5.1M
$4.9M
$3.8M
Total current liabilities
$16.6M
$15.5M
$16.6M
$13.0M
Operating Lease Liability, Non-Current
$360.0K
$70.0K
$118.0K
$104.0K
Deferred Tax Liabilities, Current
$2.8M
$3.1M
$3.0M
$3.0M
Total liabilities
$19.8M
$18.6M
$21.2M
$21.4M
Preferred Stock
$0
$0
$0
$0
Total Stockholders' Equity
$6.5M
$6.5M
$6.5M
$6.5M
Treasury stock, at cost
($13.2M)
($14.1M)
($16.7M)
($17.0M)
Additional Paid-In Capital
$3.8M
$4.6M
$4.8M
$3.6M
Retained Earnings
$88.7M
$74.8M
$65.8M
$54.4M
Total stockholders’ equity
$85.8M
$71.9M
$60.4M
$47.6M
Total liabilities and stockholders’ equity
$105.6M
$90.5M
$81.7M
$69.0M
Lifeway Foods Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and Cash Equivalents
$7.1M
$5.6M
$23.0M
$21.2M
Accounts Receivable
$22.9M
$23.0M
$17.4M
$16.1M
Inventory
$14.0M
$11.5M
$11.1M
$10.2M
Other Non-Operating Current Assets
$2.5M
$2.6M
$2.2M
$1.8M
Income Tax Receivable
$728.0K
$41.0K
$134.0K
$0
Total current assets
$47.2M
$42.7M
$53.8M
$49.3M
Property, Plant and Equipment
$65.6M
$57.8M
$36.4M
$30.7M
Operating Lease Right-of-Use Asset
$521.0K
$553.0K
$358.0K
$278.0K
Goodwill
$11.7M
$11.7M
$11.7M
$11.7M
Intangible Assets
$5.5M
$5.7M
$6.0M
$6.1M
Other Non-Operating Current Assets
$1.8M
$2.1M
$1.3M
$135.0K
Total assets
$132.4M
$120.5M
$109.5M
$98.3M
Accounts Payable
$17.5M
$13.8M
$17.5M
$11.9M
Other Current Liabilities
$4.7M
$4.6M
$5.9M
$4.4M
Accrued Income Taxes
$304.0K
$1.5M
—
—
Total current liabilities
$22.5M
$20.0M
$23.4M
$16.3M
Long-Term Debt
$21.9M
$6.9M
—
—
Operating Lease Liability, Non-Current
$393.0K
$426.0K
$289.0K
$220.0K
Deferred Tax Liabilities, Current
$2.8M
$2.8M
$3.1M
$3.1M
Long-Term Debt
$163.0K
$74.0K
—
—
Total liabilities
$47.8M
$30.2M
$26.8M
$19.6M
Preferred Stock
$0
$0
$0
$0
Total Stockholders' Equity
$6.5M
$6.5M
$6.5M
$6.5M
Treasury stock, at cost
($17.2M)
($12.9M)
($13.2M)
($13.3M)
Additional Paid-In Capital
$1.8M
$3.3M
$3.3M
$2.8M
Retained Earnings
$93.5M
$93.4M
$86.1M
$82.6M
Total stockholders’ equity
$84.6M
$90.3M
$82.8M
$78.7M
Total liabilities and stockholders’ equity
$132.4M
$120.5M
$109.5M
$98.3M
Cash flow statement
Lifeway Foods Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$13.9M
$9.0M
$11.4M
$924.0K
Depreciation Expense
$4.0M
$3.4M
$3.2M
$3.0M
Stock-based compensation
$1.9M
$2.4M
$1.5M
$1.1M
Total Costs and Expenses
$19.0K
$17.0K
$6.0K
$6.0K
(Gain) loss on sale of equipment
($115.0K)
$8.0K
($34.0K)
$241.0K
Gain on sale of investments
($3.4M)
—
—
—
Fair value loss on investment
$96.0K
—
—
—
Deferred income taxes
($270.0K)
$61.0K
($28.0K)
($172.0K)
Accounts receivable
($1.2M)
($1.6M)
($2.5M)
($1.5M)
Inventories
($3.2M)
$426.0K
$527.0K
($1.3M)
Prepaid expenses and other current assets
$151.0K
($125.0K)
($574.0K)
($191.0K)
Refundable income taxes
$306.0K
($631.0K)
$44.0K
$300.0K
Accounts payable
$238.0K
$156.0K
$1.9M
$1.9M
Accrued expenses
($1.6M)
$217.0K
$1.1M
$434.0K
Accrued income taxes
$218.0K
($474.0K)
$474.0K
($725.0K)
Net cash provided by operating activities
$10.9M
$13.0M
$16.9M
$4.0M
Purchases of property and equipment
($27.4M)
($6.7M)
($4.4M)
($3.4M)
Proceeds from Sale of PP&E
$115.0K
$15.0K
$41.0K
—
Proceeds from Investments
$5.2M
—
—
—
Net cash used in investing activities
($22.0M)
($6.7M)
($4.4M)
($4.0M)
Repayment of note payable
$0
($2.8M)
($1.0M)
($750.0K)
Payment of deferred financing costs
($65.0K)
—
—
—
Net cash used in financing activities
($65.0K)
($2.8M)
($3.8M)
($4.7M)
Net (decrease) increase in cash and cash equivalents
($11.2M)
$3.5M
$8.8M
($4.8M)
Cash and cash equivalents at the beginning of the period
$16.7M
$13.2M
$4.4M
$9.2M
Cash and cash equivalents at the end of the period
$5.6M
$16.7M
$13.2M
$4.4M
Income Tax Expense
$5.6M
$6.0M
$4.8M
$1.1M
Interest Expense
$58.0K
$98.0K
$415.0K
$247.0K
Accrued purchase of property and equipment
$774.0K
$407.0K
$137.0K
—
Right-of-use assets obtained in exchange for lease obligations
$426.0K
$0
—
—
Lifeway Foods Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income
$4.8M
$4.7M
$11.3M
$7.8M
Depreciation Expense
$2.2M
$1.1M
$3.0M
$1.9M
Stock-based compensation
$1.1M
$548.0K
$1.5M
$927.0K
Total Costs and Expenses
$11.0K
$5.0K
$14.0K
$9.0K
Provision for Doubtful Accounts (CF)
$87.0K
$87.0K
—
—
Gain on sale of equipment
($19.0K)
—
($115.0K)
($115.0K)
Gain on sale of investments
$0
$0
($3.4M)
($3.4M)
Fair value loss on investment
$0
$0
$20.0K
$20.0K
Accounts receivable
($6.3M)
($6.4M)
($2.0M)
($640.0K)
Inventories
($2.1M)
$438.0K
($2.4M)
($1.5M)
Prepaid expenses and other current assets
$297.0K
$228.0K
$123.0K
$322.0K
Refundable income taxes
($404.0K)
$283.0K
$497.0K
$631.0K
Accounts payable
$6.7M
$3.4M
$3.3M
$500.0K
Accrued expenses
($2.6M)
($1.3M)
($1.1M)
($2.6M)
Accrued income taxes
$86.0K
$1.3M
$0
$0
Other long-term liabilities
$163.0K
$74.0K
—
—
Net cash provided by operating activities
$4.0M
$4.4M
$10.7M
$3.8M
Purchases of property and equipment
($19.5M)
($11.0M)
($9.7M)
($4.5M)
Proceeds from Sale of PP&E
$223.0K
—
$115.0K
$115.0K
Proceeds from Investments
$0
$0
$5.2M
$5.2M
Net cash (used in) provided by investing activities
($19.3M)
($11.0M)
($4.4M)
$795.0K
Purchase of treasury stock
($4.9M)
—
—
—
Net Cash from Financing Activities
$23.0M
$8.0M
—
—
Repayments under line of credit
($1.0M)
($1.0M)
$0
$0
Payment of deferred financing costs
($21.0K)
($21.0K)
($65.0K)
($65.0K)
Equity award settled in cash
($283.0K)
($283.0K)
—
—
Net cash provided by (used in) financing activities
$16.8M
$6.7M
($65.0K)
($65.0K)
Net increase in cash and cash equivalents
$1.5M
$33.0K
$6.3M
$4.5M
Cash and cash equivalents at the beginning of the period
$5.6M
$5.6M
$16.7M
$16.7M
Cash and cash equivalents at the end of the period
$7.1M
$5.6M
$23.0M
$21.2M
Income Tax Expense
$2.2M
$0
$4.2M
$2.5M
Interest Expense
$200.0K
$45.0K
$42.0K
$26.0K
Accrued purchase of property and equipment
$512.0K
$216.0K
$3.9M
$1.1M
Right-of-use assets obtained in exchange for lease obligations