SALEM, Ore., March 24, 2026 /PRNewswire/ -- Willamette Valley Vineyards, Inc. (NASDAQ: WVVI) (the "Company"), a leading Oregon producer of Pinot Noir, generated a loss per common share after preferred dividends of $0.64 and $0.48 for the years ended December 31, 2025 and 2024, respectively, an increase of $0.16, or 33.3%, for the year ended December 31, 2025 over the prior year period. The reason for this increase was a higher net loss in 2025 compared to 2024.
The Company had net sales revenues of $37,197,122 and $39,782,442 for the years December 31, 2025 and 2024, respectively, a decrease of $2,585,320, or 6.5%, for the year ended December 31, 2025 over the prior year period primarily as a result of a decrease in revenue from direct sales, net of excise taxes, of $1,013,762, or 4.8% in 2025 compared to 2024, and a decrease in revenue from sales to distributors of $1,571,558 or 8.5% in 2025 compared to 2024.
Gross profit was $22,492,520 and $24,195,456 for the years ended December 31, 2025 and 2024, respectively, a decrease of $1,702,936 or 7.0%, for the year ended December 31, 2025 over the prior year period. This decrease was primarily the result of lower sales revenues in 2025 compared to the prior year.
Selling, general and administrative expenses were $23,928,692 and $23,623,598 for the years ended December 31, 2025 and 2024, respectively, an increase of $305,094, or 1.3%, for the year ended December 31, 2025 over the prior year period. This increase was primarily as a result of higher selling costs in 2025.
Income(loss) from operations was $(1,436,172) and $571,878 for the years ended December 31, 2025 and 2024, respectively, a decrease of $2,008,030, for the year ended December 31, 2025 compared to the prior year period. This decrease was primarily the result of lower sales and higher selling expenses in 2025.
Jim Bernau, Founder and President of the Company said ""The challenges our wholesalers are facing are negatively impacting our shipments to them. We are making some distributor changes requiring inventory transfers and training new distributor sales teams. We are also seeing a decline in consumer visitations at our retail locations and are focusing on improving customer experiences which are intended to help us derive the highest retail performance possible."
For a complete discussion of the Company's financial condition and operating results, see our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the United States Securities and Exchange Commission on EDGAR.
Willamette Valley Vineyards, Inc. is headquartered at its Estate Vineyard near Salem, Oregon. The Company's common stock is traded on NASDAQ (WVVI).
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, referred to as the "Securities Act", and Section 21E of the Securities Exchange Act of 1934, as amended, referred to as the "Exchange Act". These forward-looking statements involve risks and uncertainties that are based on current expectations, estimates and projections about the Company's business, and beliefs and assumptions made by management. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates", "predicts," "potential," "should," or "will" or the negative thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to: availability of financing for growth, availability of adequate supply of high quality grapes, successful performance of internal operations, impact of competition, changes in wine broker or distributor relations or performance, impact of possible adverse weather conditions, impact of reduction in grape quality or supply due to disease or smoke from forest fires, changes in consumer spending, the reduction in consumer demand for premium wines, and the revenues or costs for any of our four new tasting rooms and restaurants exceeding our expectations. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic economic conditions.
Many of these risks as well as other risks that may have a material adverse impact on our operations and business, are identified in Item 1A "Risk Factors" in our Annual Report on Form 10-K.
The following is the Company's Statement of Operations for the year ended December 31, 2025 compared to the year ended December 31, 2024:
Year ended
December 31,
2025 2024
SALES, NET $37,197,122 $39,782,442
COST OF SALES 14,704,602 15,586,986
GROSS PROFIT 22,492,520 24,195,456
OPERATING EXPENSES:
Sales and marketing 17,435,201 17,119,837
General and administrative 6,493,491 6,503,761
Total operating expenses 23,928,692 23,623,598
INCOME (LOSS) FROM OPERATIONS (1,436,172) 571,858
OTHER INCOME (EXPENSE)
Interest expense, net (1,167,722) (1,016,180)
Other income, net 1,394,628 99,629
LOSS BEFORE INCOME TAXES (1,209,266) (344,693)
INCOME TAX BENEFIT 291,581 226,799
NET LOSS (917,685) (117,894)
Preferred stock dividends (2,252,941) (2,252,941)
LOSS APPLICABLE TO COMMON SHAREHOLDERS $(3,170,626) $(2,370,835)
Loss per common share after preferred dividends,
basic and diluted $(0.64) $(0.48)
Weighted-average number of
common shares outstanding, basic and
diluted 4,970,118 4,964,529
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SOURCE Willamette Valley Vineyards
