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Village Farms International, Inc. (VFF) Annual Reports

Q: Where can I read Village Farms International, Inc. (VFF) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Village Farms International, Inc. is listed on Nasdaq, classified by the SEC under Agricultural Production-Crops (SIC 0100). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1584549 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$64.0M	$59.9M	+6.8%
Operating income	$11.2M	$6.9M	+61.0%
Net income	$7.1M	$26.5M	-73.0%
EPS (diluted)	$0.06	$0.24	-75.0%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 64.0 mn Net income 7.15 mn

Show table：Income statement

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	158	150	31.9	41.3	38.3	33.1	32.1	47.6	43.0	47.4	52.4	70.4	72.4	72.8	70.2	82.9	71.1	69.5	64.7	77.2	69.5	74.2	78.1	92.2	83.4	82.5	77.1	59.9	66.7	49.6	50.2	64.0
Gross profit	14.0	9.32	0.68	-2.97	-0.61	-4.44	0.77	3.53	5.62	1.05	2.31	5.27	17.8	19.9	9.90	6.32	8.37	2.90	12.3	11.5	14.6	11.0	15.5	9.25	15.7	6.93	11.3	22.3	31.9	19.2	21.0	30.0
Operating income	-1.17	-6.68	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.77	—	—	—	2.11	—	-0.44	6.93	—	—	5.04	11.2
Net income	3.82	-5.14	6.47	3.72	-0.7	-7.18	4.19	-0.12	0.52	7.02	-7.38	-4.52	0.75	2.08	-6.52	-36.5	-8.74	-49.3	-6.64	-1.38	-1.30	-22.5	-2.85	-23.6	-0.82	-8.63	-6.70	26.5	10.2	2.43	2.92	7.15

Balance sheet

Quarterly · In mn (USD)

Total assets 428 mn Total liabilities 110 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	42.9	62.0	—	—	—	54.6	50.5	49.8	93.4	102	224	222	183	175	175	159	143	133	146	157	153	152	151	134	128	116	105	138	157	154	132	160
Total assets	142	160	—	—	—	183	194	198	244	354	483	487	523	567	576	534	511	465	476	489	478	467	458	425	418	389	377	404	418	423	401	428
Current liabilities	19.4	23.6	—	—	—	22.0	20.5	25.0	23.4	72.3	58.7	66.8	59.0	64.3	73.5	80.8	78.8	72.2	65.9	71.8	68.9	72.2	72.7	68.2	62.6	62.2	54.6	51.8	56.4	58.6	43.1	50.6
Total liabilities	61.3	59.1	—	—	—	57.0	55.2	59.2	57.3	149	136	144	140	142	153	154	152	145	137	146	141	148	146	139	133	125	119	110	113	113	97.1	110
Equity	81.0	101	92.3	111	111	126	138	139	187	205	347	344	383	408	407	364	343	303	322	326	320	303	296	275	274	254	248	284	295	300	294	312

Cash flow

Quarterly · In mn (USD)

Operating 8.88 mn Investing -6.23 mn Financing 16.2 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	3.28	-2.26	-5.55	-3.89	1.55	-6.50	-0.53	2.68	1.87	1.66	-14.4	-0.77	-5.90	-18.5	-9.64	0.62	-4.19	-6.67	-3.67	-1.58	12.1	-1.49	-0.05	5.70	4.28	0.41	-6.38	28.6	24.4	11.4	-16.8	8.88
Investing	-1.70	-13.5	-2.37	-4.12	-4.60	-5.75	-6.32	-5.97	-1.86	-37.1	-5.21	-7.16	-29.8	-21.3	-8.70	-4.98	-5.79	-1.42	-1.08	-0.64	-1.81	-2.71	-1.88	-3.08	-3.27	-2.01	-2.84	-2.45	-1.83	-11.5	-9.23	-6.23
Financing	0.14	20.6	2.18	13.5	-1.93	17.6	8.43	-0.7	45.1	5.80	130	-4.99	-2.70	14.0	1.01	-3.92	0.88	6.52	18.6	-1.62	-1.45	-1.42	-1.44	-4.44	-2.23	-1.41	-0.38	-4.60	1.38	-2.74	-3.70	16.2
Cash at period end	7.09	11.9	6.19	11.7	6.73	12.0	13.6	9.57	54.7	21.6	132	114	79.2	53.4	34.6	26.2	18.2	16.7	29.9	26.7	35.5	30.3	26.7	29.7	28.7	24.6	15.1	60.0	82.6	81.2	50.5	72.9

Profitability

Quarterly · %

Gross margin 46.9% Operating margin 17.4% Net margin 11.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Gross margin	8.8%	6.2%	2.1%	-7.2%	-1.6%	-13.4%	2.4%	7.4%	13.1%	2.2%	4.4%	7.5%	24.5%	27.3%	14.1%	7.6%	11.8%	4.2%	19.0%	14.9%	21.0%	14.8%	19.9%	10.0%	18.8%	8.4%	14.7%	37.3%	47.9%	38.7%	41.8%	46.9%
Operating margin	-0.7%	-4.5%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.1%	—	—	—	2.5%	—	-0.6%	11.6%	—	—	10.0%	17.4%
Net margin	2.4%	-3.4%	20.3%	9.0%	-1.8%	-21.7%	13.1%	-0.3%	1.2%	14.8%	-14.1%	-6.4%	1.0%	2.9%	-9.3%	-44.1%	-12.3%	-71.0%	-10.3%	-1.8%	-1.9%	-30.3%	-3.6%	-25.6%	-1.0%	-10.4%	-8.7%	44.2%	15.3%	4.9%	5.8%	11.2%

Returns & leverage

Quarterly · %

ROE 7.6% ROA 5.5% Debt ratio 25.6%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	8.0%	4.5%	2.0%	0.0%	-3.0%	-1.7%	7.0%	0.0%	-1.8%	-1.4%	-3.0%	-2.2%	-11.4%	-13.7%	-28.4%	-27.8%	-19.1%	-17.7%	-10.5%	-9.1%	-16.7%	-16.7%	-12.9%	-14.6%	3.7%	7.5%	11.7%	15.5%	7.6%
ROA	—	—	—	—	—	1.3%	0.0%	-1.9%	-1.1%	4.3%	0.0%	-1.3%	-1.1%	-2.0%	-1.6%	-7.9%	-9.6%	-19.6%	-19.3%	-12.9%	-11.9%	-6.8%	-6.0%	-11.0%	-11.1%	-8.4%	-9.5%	2.5%	5.1%	8.0%	10.8%	5.5%
Debt ratio	43.1%	37.0%	—	—	—	31.1%	28.5%	29.9%	23.5%	42.0%	28.1%	29.5%	26.7%	25.1%	26.6%	28.8%	29.8%	31.2%	28.7%	29.9%	29.6%	31.7%	31.9%	32.8%	31.8%	32.2%	31.6%	27.1%	27.0%	26.7%	24.2%	25.6%

EPS

Quarterly · US$

EPS US$0.06

Show table：EPS

Item	2017Q4	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	0.10	-0.11	0.13	0.07	-0.01	-0.14	0.08	0.00	0.01	0.11	-0.10	-0.06	0.01	0.03	-0.07	-0.41	-0.10	-0.54	-0.06	-0.01	-0.01	-0.20	-0.03	-0.21	-0.01	-0.07	-0.06	0.24	0.08	0.01	0.02	0.06

Revenue & profit

Year-to-date · In mn (USD)

Revenue 114 mn Net income 10.1 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 428 mn Total liabilities 110 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating -7.88 mn Investing -15.5 mn Financing 12.5 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 44.6% Operating margin 14.2% Net margin 8.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 7.6% ROA 5.5% Debt ratio 25.6%

EPS

Year-to-date · US$

EPS US$0.08

Revenue & profit

Annual · In mn (USD)

Revenue 253 mn Net income 32.4 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2019	2020	2021	2022	2023	2024	2025
Revenue	145	170	268	294	286	336	253
Gross profit	-7.34	11.0	45.2	27.5	49.4	47.4	84.8
Net income	2.29	11.6	-9.08	-101	-31.8	-35.9	32.4

Balance sheet

Annual · In mn (USD)

Total assets 423 mn Total liabilities 113 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2019	2020	2021	2022	2023	2024	2025
Current assets	54.6	102	175	133	152	116	154
Total assets	183	354	567	465	467	389	423
Current liabilities	22.0	72.3	64.3	72.2	72.2	62.2	58.6
Total liabilities	57.0	149	142	145	148	125	113
Equity	126	205	408	303	303	254	300

Cash flow

Annual · In mn (USD)

Operating 58.1 mn Investing -18.6 mn Financing -6.35 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2019	2020	2021	2022	2023	2024	2025
Operating	-14.4	5.68	-39.6	-19.9	5.32	10.3	58.1
Investing	-16.8	-51.2	-63.5	-20.9	-6.23	-10.2	-18.6
Financing	31.4	58.6	136	4.50	14.1	-9.53	-6.35
Cash at period end	12.0	21.6	53.4	16.7	30.3	24.6	81.2

Profitability

Annual · %

Gross margin 33.5% Net margin 12.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2019	2020	2021	2022	2023	2024	2025
Gross margin	-5.1%	6.4%	16.9%	9.4%	17.3%	14.1%	33.5%
Net margin	1.6%	6.8%	-3.4%	-34.5%	-11.1%	-10.7%	12.8%

Returns & leverage

Annual · %

ROE 11.7% ROA 8.0% Debt ratio 26.7%

Show table：Returns & leverage

Item	2019	2020	2021	2022	2023	2024	2025
ROE	1.8%	7.0%	-3.0%	-28.4%	-10.5%	-12.9%	11.7%
ROA	1.3%	4.3%	-2.0%	-19.6%	-6.8%	-8.4%	8.0%
Debt ratio	31.1%	42.0%	25.1%	31.2%	31.7%	32.2%	26.7%

EPS

Annual · US$

EPS US$0.27

Show table：EPS

Item	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	0.05	0.20	-0.12	-1.12	-0.28	-0.32	0.27

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read Village Farms International, Inc. (VFF) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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