Lifeway Foods, Inc. (LWAY) Income Statement
LWAY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLWAY revenue and net income
Where LWAY's revenue goes
2025Each bar shows an amount and its share of revenue. LWAY kept 6.5% of revenue as net income.
LWAY profit margins
LWAY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.7% | +14.5% | +15.8% | +6.0% |
| Gross profit | +19.8% | +29.5% | +16.7% | +6.3% |
| Operating income | +16.7% | +90.2% | +26.9% | +13.9% |
| Net income | +53.6% | +146.6% | +33.8% | +21.5% |
| EPS (diluted) | +52.5% | — | — | +22.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LWAY quarterly EPS vs estimates
Lifeway Foods beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 11, 2026.
LWAY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $212.5M | $186.8M | $160.1M | $141.6M | $119.1M | $102.0M | $93.7M | $103.3M | $118.9M | $123.9M |
| Cost of revenue | $154.3M | $138.2M | $117.7M | $114.8M | $90.4M | $75.1M | $71.5M | $77.5M | $88.2M | $88.8M |
| Gross profit | $58.2M | $48.6M | $42.4M | $26.8M | $28.7M | $26.9M | $22.1M | $25.9M | $30.7M | $35.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $41.5M | $34.2M | $24.9M | $23.9M | $22.7M | $21.9M | $23.9M | $27.1M | $30.6M | $28.2M |
| Total operating expenses | $42.0M | $34.7M | $25.4M | $24.4M | $113.2M | $22.0M | $24.1M | $27.7M | $31.2M | $28.9M |
| Operating income | $16.2M | $13.9M | $17.0M | $2.3M | $5.9M | $4.9M | −$1.9M | −$3.1M | −$526,000 | $6.1M |
| Interest income | — | — | — | — | — | — | $2.9M | $271,000 | $242,000 | $235,000 |
| Interest expense | $77,000 | $105,000 | $384,000 | $267,000 | $116,000 | $118,000 | $249,000 | $271,000 | $242,000 | $220,000 |
| Income before taxes | $19.7M | $14.0M | $16.6M | $1.8M | $5.6M | $4.8M | $1.2M | −$3.3M | −$804,000 | $5.6M |
| Income taxes | $5.8M | $4.9M | $5.3M | $917,000 | $2.3M | $1.6M | $782,000 | −$225,000 | −$458,000 | $2.2M |
| Net income | $13.9M | $9.0M | $11.4M | $924,000 | $3.3M | $3.2M | $453,000 | −$3.1M | −$346,000 | $3.5M |
| EBITDA | $23.7M | $17.5M | $20.2M | $5.1M | $8.6M | $8.2M | $4.8M | $437,000 | $2.5M | $8.9M |
| EPS (diluted) | $0.90 | $0.59 | $0.76 | −$0.23 | $0.21 | −$0.42 | −$0.10 | −$0.03 | −$0.02 | $0.20 |
| Gross margin | 27.4% | 26.0% | 26.5% | 18.9% | 24.1% | 26.4% | 23.6% | 25.0% | 25.8% | 28.3% |
| Operating margin | 7.6% | 7.4% | 10.6% | 1.7% | 4.9% | 4.8% | −2.1% | −3.0% | −0.4% | 4.9% |
| Net margin | 6.5% | 4.8% | 7.1% | 0.7% | 2.8% | 3.2% | 0.5% | −3.0% | −0.3% | 2.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $66.9M | $63.0M | $55.4M | $57.1M | $53.9M | $46.1M | $46.9M | $46.1M | $49.2M | $44.6M | $42.1M | $40.9M |
| Cost of revenue | $53.9M | $45.7M | $40.0M | $39.8M | $38.5M | $35.1M | $35.0M | $34.2M | $36.0M | $33.2M | $30.4M | $29.8M |
| Gross profit | $13.0M | $17.4M | $15.4M | $17.3M | $15.4M | $11.0M | $11.9M | $11.9M | $13.1M | $11.4M | $11.7M | $11.1M |
| Sales, general & admin | $12.3M | $10.9M | $11.5M | $11.2M | $9.5M | $9.3M | $11.0M | $7.5M | $7.8M | $7.8M | $5.9M | $6.0M |
| Total operating expenses | $12.4M | $11.0M | $11.6M | $12.3M | $9.6M | $9.5M | $11.2M | $7.7M | $7.8M | $7.8M | $5.9M | $6.1M |
| Operating income | $600,000 | $6.3M | $3.8M | $5.0M | $5.8M | $1.6M | $713,000 | $4.2M | $5.4M | $3.6M | $5.8M | $5.0M |
| Interest expense | $215,000 | $68,000 | $21,000 | $21,000 | $21,000 | $14,000 | $3,000 | $4,000 | $47,000 | $51,000 | $62,000 | $109,000 |
| Income before taxes | $407,000 | $6.3M | $3.7M | $5.1M | $5.9M | $5.0M | $776,000 | $4.3M | $5.4M | $3.5M | $5.7M | $4.9M |
| Income taxes | $280,000 | $1.6M | $1.2M | $1.6M | $1.7M | $1.4M | $936,000 | $1.4M | $1.6M | $1.1M | $1.7M | $1.5M |
| Net income | $127,000 | $4.7M | $2.5M | $3.5M | $4.2M | $3.5M | −$160,000 | $3.0M | $3.8M | $2.4M | $4.0M | $3.4M |
| EBITDA | $1.7M | $7.2M | $4.8M | $6.2M | $6.9M | $5.9M | $1.7M | $5.2M | $6.2M | $4.4M | $6.6M | $5.8M |
| EPS (diluted) | $0.01 | $0.30 | $0.16 | $0.23 | $0.28 | $0.23 | −$0.01 | $0.19 | $0.25 | $0.16 | $0.26 | $0.23 |
| Gross margin | 19.5% | 27.5% | 27.8% | 30.3% | 28.6% | 23.9% | 25.3% | 25.7% | 26.7% | 25.5% | 27.7% | 27.2% |
| Operating margin | 0.9% | 10.0% | 6.8% | 8.8% | 10.8% | 3.4% | 1.5% | 9.1% | 11.0% | 8.0% | 13.7% | 12.3% |
| Net margin | 0.2% | 7.4% | 4.6% | 6.2% | 7.9% | 7.7% | −0.3% | 6.5% | 7.7% | 5.4% | 9.4% | 8.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LWAY's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LWAY financial results
In fiscal year 2025 (ended December 31, 2025), Lifeway Foods reported revenue of $212.5 million, up 13.7% from the year before. It had net income of $13.9 million (up 53.6%), a net profit margin of 6.5%. Diluted earnings per share came to $0.90. Over five years revenue grew at an average rate of 15.8% a year.
See the LWAY stock overview for the latest quote and news, or the LWAY chart for price history and technical indicators.
LWAY income statement FAQ
What is Lifeway Foods's annual revenue?
Lifeway Foods reported total revenue of $212.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.7% from $186.8 million the previous year.
Is Lifeway Foods profitable?
Yes. Lifeway Foods reported net income of $13.9 million in fiscal 2025, a net profit margin of 6.5%; its operating margin was 7.6%.
What is Lifeway Foods's gross margin?
Lifeway Foods's gross margin was 27.4% in fiscal 2025: for every $100 of revenue, Lifeway Foods kept $27 after the direct cost of its products and services.
How fast is Lifeway Foods growing?
Revenue grew 15.8% a year on average over the last five fiscal years, from $102.0 million to $212.5 million.
What are Lifeway Foods's earnings per share?
Lifeway Foods earned $0.90 per diluted share in fiscal 2025, compared with $0.59 a year earlier.
When will Lifeway Foods report its next earnings?
Lifeway Foods is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Lifeway Foods's fiscal year end?
Lifeway Foods's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 17, 2026.