Core Viewpoint - Willamette Valley Vineyards, Inc. reported a loss per common share of $0.09 for the three months ended June 30, 2025, which is an increase of $0.02 compared to the same period in 2024, reflecting ongoing challenges in national distribution and sales [1][5]. Financial Performance - Sales revenue for the three months ended June 30, 2025, was $10,195,763, a decrease of $136,595 or 1.3% from $10,332,358 in the same period of 2024, attributed to a decline in direct sales [2]. - Gross profit for the same period was $6,216,618, down by $255,072 or 3.9% from $6,471,690 in 2024 [3]. - Net income decreased significantly to $92,795 in the second quarter of 2025, a drop of $103,183 or 52.7% from $195,978 in the prior year [5]. Expenses - Selling, general and administrative expenses were $5,818,454 for the three months ended June 30, 2025, a decrease of $116,330 or 2.0% compared to $5,934,784 in 2024, primarily due to reduced selling and marketing expenses [4]. - The company reported a decrease in selling and marketing expenses of $144,536 or 3.3%, partially offset by an increase in general and administrative expenses of $28,206 or 1.8% [4]. Management Commentary - The company's management, led by new CEO Mike Osborn, is focused on improving wholesale distribution and sales, emphasizing the brand's strong market reputation and high wine reviews [6].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT Commission File Number 001-37610 WILLAMETTE VALLEY VINEYARDS, INC. (Exact name of registrant as specified in charter) Oregon 93-0981021 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identificatio ...

Core Insights - Willamette Valley Vineyards has been recognized as the 1 Tasting Room in the Nation for the second consecutive year by USA TODAY's 10Best Readers' Choice Awards, reflecting strong support from shareholders and club members [1][2] - The winery emphasizes a unique culinary program that pairs local ingredients with its wines, enhancing the overall tasting experience [3][4] - Willamette Valley Vineyards' Wine Club has also been ranked 2 in the Nation, offering various membership tiers and exclusive benefits [5] Company Overview - Founded in 1983, Willamette Valley Vineyards has grown to become a leading winery in Oregon, focusing on sustainable practices and producing acclaimed Pinot Noir [7] - The winery operates with a community-ownership model, boasting over 27,000 shareholders, which supports its mission to democratize wine [5][7] - Willamette Valley Vineyards has expanded to include nine tasting rooms across Oregon, Washington, and California, enhancing its reach and accessibility [7] Tasting Room Experience - The Estate Tasting Room offers immersive experiences, including personalized tastings and seasonal pairing menus, designed to be inclusive for all visitors [2][4] - Chef DJ MacIntyre leads the culinary program, focusing on local and sustainable ingredients to create dishes that complement the winery's diverse portfolio [3][6] - The tasting room fosters a warm atmosphere with panoramic vineyard views, promoting a sense of community and passion for wine and culinary arts [2][4] Sustainability and Innovation - Willamette Valley Vineyards is recognized for its sustainable farming practices, with all vineyards certified through LIVE and Salmon-Safe programs [7] - The winery produces over 75 different bottlings, including Pinot Noir and Chardonnay, showcasing its commitment to quality and innovation in the wine industry [6][7]

Core Insights - Willamette Valley Vineyards is offering a Preferred Stock Offering to wine enthusiasts, allowing them to purchase shares and become part of the winery's ownership family [1][2][4] Company Overview - Founded in 1983, Willamette Valley Vineyards is recognized as one of Oregon's leading wineries, particularly known for its Pinot Noir and commitment to sustainability [8][10] - The winery operates under a community-funded business model, being one of the few community-owned, publicly traded wineries in the nation [2][8] Investment Opportunity - The introductory price for shares is set at $3.35, with an annual dividend of 6.5% or wine credit with a 15% bonus for early applications [4][5] - The minimum investment is 150 shares ($502.50), while the maximum is 5,000 shares ($16,750) [4] - Share prices will increase to $3.45 on August 1, 2025, and to $3.95 on November 1, 2025, unless sold out earlier [5] Shareholder Benefits - Shareholders receive exclusive benefits, including an annual dividend, discounts on wine releases, and access to special opportunities [3][9] - The winery emphasizes a loyalty-driven approach, aiming to create a community of wine enthusiasts who support the brand [4][6] Growth and Community Impact - The Preferred Stock Offering aims to support the winery's expansion, including its vineyards, tasting rooms, and production facilities [6] - Willamette Valley Vineyards has expanded to include nine tasting rooms across Oregon, Washington, and California, facilitated by stock ownership [10]

Core Viewpoint - Willamette Valley Vineyards, Inc. reported a net loss for the first quarter of 2025, reflecting challenges in national distribution and a significant decrease in sales revenue compared to the previous year [6][5]. Financial Performance - The company generated a loss per common share after preferred dividends of $0.26 for the three months ended March 31, 2025, compared to $0.22 for the same period in 2024, marking an increase of $0.04 [1]. - Sales revenue decreased to $7,541,583 for the three months ended March 31, 2025, down from $8,803,080 in 2024, representing a decline of $1,261,497 or 14.3% [2]. - Gross profit for the same period was $4,759,108, a decrease of $513,614 or 9.7% from $5,272,722 in 2024, primarily due to lower distributor sales [3]. - Selling, general and administrative expenses decreased to $5,629,086 in the first quarter of 2025, down from $5,875,299 in 2024, a reduction of $246,213 or 4.2% [4]. - The net loss increased to $728,981 in the first quarter of 2025, compared to $521,805 in 2024, an increase of $207,176 or 39.7% [5]. Management Changes - The company has appointed Mike Osborn as the new Chief Executive Officer to address distribution challenges, bringing extensive experience from the wine industry [6]. Company Overview - Willamette Valley Vineyards, Inc. is headquartered near Salem, Oregon, and its common stock is traded on NASDAQ under the ticker WVVI [7].

For the quarterly period ended March 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT Commission File Number 001-37610 WILLAMETTE VALLEY VINEYARDS, INC. (Exact name of registrant as specified in charter) Oregon 93-0981021 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identificati ...

Core Insights - Willamette Valley Vineyards has appointed Mike Osborn as the new CEO, succeeding founder Jim Bernau, who will remain as President and Chairperson as part of a long-term succession plan [1][2][5] - The leadership change is aimed at accelerating the company's growth and enhancing its market presence, particularly in the evolving wine market [2][5] Company Overview - Willamette Valley Vineyards was founded in 1983 by Jim Bernau, who has built it into a respected winery known for its commitment to community ownership and environmental stewardship [2][5] - The winery has been recognized for its high-quality Pinot Noir and has received accolades such as "One of America's Great Pinot Noir Producers" from Wine Enthusiast Magazine [5] - The company operates under a unique shareholder model, with thousands of wine enthusiasts as co-owners, and has expanded to include 10 tasting rooms across Oregon, Washington, and California [4][5] Leadership Background - Mike Osborn, the new CEO, is known for founding Wine.com and has extensive experience in wine retail, having built it into the leading online wine retailer in the U.S. over the past 27 years [3] - Osborn's leadership is expected to bring a fresh perspective to the winery, focusing on enhancing its national and global presence while maintaining its core values of integrity, community, and quality [4][5]

Core Viewpoint - Willamette Valley Vineyards, Inc. reported a reduced net loss per common share for the year ended December 31, 2024, indicating improved financial performance compared to the previous year, despite ongoing challenges in the wine industry [1][6]. Financial Performance - The company generated net sales revenues of $39,782,442 for 2024, reflecting a 1.7% increase from $39,136,114 in 2023, primarily due to a rise in direct sales revenue [2]. - Gross profit increased to $24,195,456 in 2024, up 7.3% from $22,557,128 in 2023, attributed to higher product prices and a greater proportion of sales from direct channels [3]. - Selling, general and administrative expenses decreased slightly to $23,623,598 in 2024 from $23,764,330 in 2023, mainly due to lower labor selling costs [4]. - The company reported income from operations of $571,858 in 2024, a significant improvement from a loss of $1,207,202 in 2023, marking an increase of 147.4% [5]. Operational Insights - The CEO highlighted the company's strategy to leverage newly established retail locations to counteract declining sales trends in the industry, emphasizing the potential for long-term shareholder value through a unique ownership model [6]. - The company’s operational results indicate a focus on enhancing direct sales and managing costs effectively to navigate the changing wine market [6].

Market Overview - The total U.S. wine market was estimated at $81.3 billion in 2023, with average wine consumption per resident at 2.68 gallons, down 15% from the 2021 peak[24]. - The number of U.S. active wineries in 2023 was 11,620, representing a 1% decrease compared to 2022, despite the addition of 400 new wineries in 2022[24]. - The Oregon wine industry is expected to grow at a faster rate than the overall domestic wine industry, favoring premium, super premium, and ultra-premium producers[34]. Company Production and Capacity - The Company owns and leases approximately 1,018 acres of land, with 801 acres currently planted or suitable for future vineyard planting, aiming to grow 73% of the grapes needed for its production capacity of 654,000 gallons[41]. - The Company produced approximately 253,974 cases of wine in 2024, an increase from 234,086 cases in 2023, representing a growth of 8.5%[59]. - The company's producing acres yielded approximately 913 tons of grapes in 2024, which is a 5.3% increase from 867 tons produced in 2023[51]. - The total acreage of vineyards owned and leased by the company is 1,356 acres, with 873 acres currently producing grapes[42]. - The company has a production capacity of up to 275,000 cases of wine per year across its facilities, with the Tualatin Winery adding approximately 28,000 cases of capacity[59][61]. - The Company believes its production capacity of 720,000 gallons (303,000 cases) per year provides a competitive advantage over most Oregon wineries[79]. Sales and Marketing Strategy - The Company’s marketing strategy includes direct sales at wineries and through independent distributors, targeting high-quality premium wines[39]. - Direct sales contributed approximately 53.4% of the Company's net sales in 2024, up from 52.4% in 2023[73]. - The Company’s marketing strategy includes direct sales, mailing lists, and distribution through brokers, with increased sales to out-of-state markets[65]. - The Company has one of the largest wine club memberships in Oregon, which supports direct sales and customer engagement[67]. - The Company opened a new sparkling winery, Domaine Willamette Winery, in September 2022, enhancing direct sales and wine tourism opportunities[68]. Financial Performance - The Company reported a net loss of $117,894 for the year ended December 31, 2024, a decrease of 90.2% compared to a net loss of $1,198,593 in 2023[148]. - Net sales revenues increased by $646,328, or 1.7%, to $39,782,442 in 2024, primarily due to a $736,057, or 3.6% increase in direct sales revenue[150]. - The Company sold approximately 186,419 cases of wine in 2024, a decrease of 2.7% from 191,619 cases sold in 2023[145]. - Total revenue for the Company was $40,187,834 in 2024, up from $39,567,828 in 2023, after deducting excise taxes[154]. - Gross profit increased by $1,638,328, or 7.3%, to $24,195,456 in 2024, driven by higher product prices and a greater percentage of direct sales[158]. - The gross margin percentage improved by 3.2 percentage points to 60.8% in 2024, compared to 57.6% in 2023[159]. - Income from operations increased by $1,779,060, or 147.4%, to $571,858 in 2024, attributed to higher gross profit and lower labor expenses[161]. - EBITDA rose by 71.1% to $3,995,135 in 2024, compared to $2,334,629 in 2023, primarily due to a lower net loss[167]. Challenges and Risks - The wine industry is highly competitive, with significant competition from both domestic and foreign producers, which may adversely affect the Company's profitability[98]. - Fluctuations in grape supply due to weather, diseases, or pests could reduce the quantity and quality of wine produced, negatively impacting sales[102]. - A reduction in consumer demand for premium wines could harm the Company's business, influenced by economic conditions and health concerns[104]. - Changes in consumer spending patterns could negatively impact the Company's financial condition and sales[105]. - Increased regulation and taxation in the wine industry could adversely affect the Company's financial results and operations[106]. Debt and Financial Health - As of December 31, 2024, the Company's outstanding long-term debt was approximately $14.0 million, with $2.4 million drawn under its short-term line of credit[96]. - The total long-term debt balance rose to $14,042,910 as of December 31, 2024, up from $7,590,659 in 2023, primarily due to financing for the Estate Hospitality Center and vineyard development[190]. - The Company has incurred a total mortgage principal balance of $14,042,910 on its winery facilities as of December 31, 2024[62]. - The Company has not paid dividends on its Common Stock and does not anticipate doing so in the foreseeable future[129]. - The ability to pay dividends on Preferred Stock is contingent on the Company's financial health and cash generation capabilities[110]. Future Plans and Developments - The Company plans to develop new vineyards on approximately 54 acres of land currently owned or leased, expected to begin producing grapes within the next one to three years[179]. - The Company has continued to invest in vineyard development, with additions costing $237,437 in 2024, down from $419,023 in 2023, indicating a potential shift in capital allocation strategy[212].

Core Viewpoint - Willamette Valley Vineyards, Inc. reported a net loss of $0.17 per common share for the third quarter of 2024, consistent with the same period in 2023, despite a slight increase in sales revenue and gross profit margin [1][5]. Financial Performance - Sales revenue for the three months ended September 30, 2024, was $9,370,713, representing a 0.2% increase from $9,348,066 in the same period of 2023, driven by a rise in direct sales [2]. - Gross profit as a percentage of net sales increased to 62.0% in Q3 2024 from 60.8% in Q3 2023, attributed to a higher proportion of direct sales, which have better margins [3]. - Selling, general and administrative expenses decreased by 0.4% to $5,944,620 in Q3 2024 from $5,967,346 in Q3 2023, mainly due to a reduction in selling and marketing expenses [4]. Net Loss and Operational Insights - The net loss for the three months ended September 30, 2024, was $282,945, a decrease of 13.5% from $326,982 in the same quarter of 2023 [5]. - The CEO noted that the company is adapting to market changes, with wholesalers and retailers reducing wine inventories and focusing on alternative alcoholic beverages, influenced by interest costs and inflation [6]. Strategic Initiatives - The company aims to enhance direct consumer engagement and improve outreach to wholesalers and retail accounts, leveraging its tasting rooms and hospitality experiences to drive positive results [7].