Willamette Valley Vineyards, In
3.5500+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · WVVI · USD
Key Stats
Market Cap
17.62MP/E (TTM)
-Basic EPS (TTM)
-0.55Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Willamette Valley Vineyards posted Q2 net sales of $10.2M, down 1.3% y/y but up sharply from Q1's $7.5M (derived), with gross margin slipping to 61.0% from 62.6% y/y amid more discounts. Operating income fell to $0.4M from $0.5M y/y, while YTD sales dropped 7.3% y/y to $17.7M, swinging to a $0.5M operating loss versus a slim prior-year deficit; net loss widened to $0.6M YTD, driven by lower distributor volumes, though tax benefits cushioned the blow at 28.9% rate. Direct sales held 55% of revenue with stronger contribution margins, but distributor sales sagged on fewer cases. Cash edged to $0.4M, free cash flow negative at -$0.2M from modest capex, while long-term debt climbed to $16.6M at rates up to 7.1% with $4.1M due 2027; the $5M line of credit renewed to 2026 with $4.6M available. Preferred dividends accrued $1.1M YTD, diluting common EPS to -$0.36, matching 4.96M shares. Distributor relations remain a key risk amid shifting wine demand. 
8-K
Shareholders approve key proposals
Willamette Valley Vineyards held its 2025 annual shareholder meeting on July 12, electing James Ellis as the sole director nominee to serve until 2028 with 59.5% support amid significant withholding. Shareholders ratified Baker Tilly US, LLP as auditors for the fiscal year, passing overwhelmingly at 99.4%. The 2025 Omnibus Equity Incentive Plan won approval with 87.6% votes, bolstering talent retention. Continuity prevails, yet director pushback signals governance scrutiny. 
8-K
Auditor merger prompts switch
Willamette Valley Vineyards switched auditors on June 3, 2025, after Moss Adams merged with Baker Tilly, prompting Moss Adams' resignation and the Audit Committee's approval of Baker Tilly as successor for the fiscal year ending December 31, 2025. No disagreements or reportable events marred the prior audits for 2023 and 2024. The transition ensures seamless compliance. Smooth handover, no drama. 
8-K
Bylaws split CEO-President roles
Willamette Valley Vineyards amended its bylaws on May 27, 2024, to decouple the President and CEO roles, allowing the board to appoint a separate CEO if desired and define their duties. This structural tweak, effective immediately, offers flexibility in executive leadership without naming any personnel changes. It signals potential shifts in management dynamics. No immediate business impacts disclosed. 
8-K
New CEO Osborn joins WVVI
Willamette Valley Vineyards appointed Michael Osborn as CEO effective May 19, 2025, replacing Jim Bernau who stays on as President and Board Chair. Osborn, ex-EVP at Wine.com with deep wine industry ties, gets a $425,000 base salary, a performance bonus up to 25% of base tied to pre-tax income over $3.5 million, and equity awards including 15,000 shares upfront plus up to 200,000 PSUs vesting on stock price milestones from $12 to $25 over five years post-2025. This shift injects e-commerce savvy into operations, yet ties rewards to market gains amid a competitive landscape. 
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