Every 10-Q that Lifeway Foods Inc (LWAY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LWAY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LWAY filings page.
Lifeway Foods, Inc. reported strong top-line growth but weaker profitability for the quarter and six months ended June 30, 2026. Net sales rose to $66.9M for the quarter, up 24.1% year over year, and to $129.9M for the first half, a 29.9% increase, primarily from higher volumes of branded drinkable kefir.
Profitability contracted as gross margin fell to 19.5% from 28.6% in the quarter and to 23.4% from 26.5% year to date, driven mainly by higher conventional milk prices and, to a lesser extent, higher resin-based packaging and transportation costs. Quarterly net income declined to $0.1M (basic EPS $0.01) from $4.2M, while six‑month net income decreased to $4.8M from $7.8M.
The company is investing heavily in capacity, with $19.5M of capital expenditures in the first half and an estimated $50.5M project to expand and modernize its Waukesha, Wisconsin plant, expected to double manufacturing capacity. To support this, Lifeway drew $22.0M on its $25.0M revolving credit facility and put in place a $22.0M Interim Funding Agreement for equipment financing, while ending the period with $7.1M in cash and remaining covenant compliant.
Lifeway Foods reported strong first‑quarter 2026 growth, with net sales of $63.0 million, up 36.7% from a year earlier, driven mainly by higher volumes of branded drinkable kefir. Gross margin improved to 27.5% from 24.0% as milk pricing and manufacturing efficiencies supported profitability.
Income from operations rose to $6.3 million, or 10.0% of sales, compared with $1.6 million and a 3.5% margin in 2025. Net income increased to $4.7 million, or diluted earnings per share of $0.30 versus $0.23. Operating cash flow turned positive at $4.4 million.
The company invested $11.0 million in property and equipment, largely to expand and modernize its Waukesha, Wisconsin facility, a project expected to double that plant’s capacity. To help fund this, Lifeway drew $7.0 million on its $25.0 million revolving credit facility and remained in compliance with all covenants, ending the quarter with $5.6 million in cash and $18.0 million of revolver availability.
Lifeway Foods (LWAY) reported stronger Q3 2025 results. Net sales reached $57,143, up 24% year over year, driven by higher volumes of branded drinkable kefir. Gross margin improved to 28.7% from 25.7%, and net income rose to $3,529. Basic EPS was $0.23. For the first nine months, net sales were $157,135 (up 12.3%) and net income was $11,318.
Cash and cash equivalents increased to $22,990, with total assets of $109,526 and equity of $82,764. The company realized a $3,407 gain from the sale of its Simple Mills investment. Lifeway expanded its revolving credit facility commitment to $25,000 and reported no outstanding borrowings. It is investing in capacity expansion at its Waukesha, Wisconsin facility, expected to double manufacturing capacity and improve packaging efficiency by the fourth quarter of 2026. The company also purchased 402 dairy cows for $1,335 and entered a five-year herd agreement to support organic milk supply. Two customers accounted for 23% of Q3 net sales. Shares outstanding were 15,228,763 as of November 6, 2025.
Lifeway Foods reported stronger top-line and profitability in the quarter ended June 30, 2025. Net sales for the three months were $53.9 million, up 9.7% year-over-year, producing gross profit of $15.4 million (28.6% of sales) and net income of $4.249 million, or $0.28 per diluted share. For the six months, net sales were $99.99 million, net income $7.789 million, and diluted EPS $0.51.
Liquidity and balance sheet items strengthened: cash and equivalents were $21.22 million, total assets $98.27 million, and stockholders' equity $78.70 million. The company recognized a $3.407 million gain and $5.206 million proceeds from the sale of its Simple Mills investment in the six months. Lifeway increased its revolving credit commitment to $25.0 million (no borrowings outstanding) and was in compliance with covenants. In July 2025 the company purchased 224 mature dairy cows for $694 and entered a 39-month herd management agreement; accounting treatment is under evaluation.