Vital Farms (VITL) 10-Q 10 Sep 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2020	Sep. 04, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 28, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-27
Entity Registrant Name	Vital Farms, Inc.
Entity Central Index Key	0001579733
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Security 12b Title	Common Stock, par value $0.0001 per share
Trading Symbol	VITL
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-39411
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0496985
Entity Address, Address Line One	3601 South Congress Avenue
Entity Address, Address Line Two	Suite C100
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78704
City Area Code	877
Local Phone Number	455-3063
Entity Common Stock, Shares Outstanding		39,432,161

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 17,094	$ 1,274
Accounts receivable, net	16,016	16,108
Inventories	9,922	12,947
Income taxes receivable		1,615
Prepaid expenses and other current assets	3,199	2,706
Total current assets	46,231	34,650
Property, plant and equipment, net	26,823	22,458
Notes receivable from related party	844	831
Goodwill	3,858	3,858
Deposits and other assets	181	151
Total assets	77,937	61,948
Current liabilities:
Accounts payable	15,107	13,510
Accrued liabilities	7,820	8,608
Current portion of long-term debt	1,460	2,160
Lease obligation, current	460	449
Contingent consideration, current	159	270
Income taxes payable	355
Total current liabilities	25,361	24,997
Long-term debt, net of current portion	8,315	2,896
Lease obligation, net of current portion	565	797
Contingent consideration, non-current	54	382
Deferred tax liabilities, net	2,306	755
Other liability, non-current	421	272
Total liabilities	37,022	30,099
Commitments and contingencies (Note 15)
Redeemable convertible preferred stock (Series B, Series C and Series D), $0.0001 par value per share; 8,192,876 shares authorized, issued, and outstanding as of June 28, 2020 (unaudited) and December 29, 2019; aggregate liquidation preference of $40,436 as of June 28, 2020 (unaudited) and December 29, 2019	23,036	23,036
Stockholders’ equity:
Common stock, $0.0001 par value per share, 40,348,565 shares authorized as of June 28, 2020 (unaudited) and December 29, 2019; 31,683,486 and 31,429,898 shares issued as of June 28, 2020 (unaudited) and December 29, 2019, respectively; 26,188,568 and 25,934,980 shares outstanding as of June 28, 2020 (unaudited) and December 29, 2019, respectively	3	3
Treasury stock, at cost, 5,494,918 common shares as of June 28, 2020 (unaudited) and December 29, 2019	(16,276)	(16,276)
Additional paid-in capital	20,789	19,593
Retained earnings	13,148	5,239
Total stockholders’ equity attributable to Vital Farms, Inc. stockholders	17,664	8,559
Noncontrolling interests	40	79
Total stockholders’ equity	17,704	8,638
Total liabilities, redeemable noncontrolling interest, redeemable convertible preferred stock and stockholders’ equity	77,937	61,948
Variable Interest Entity, Primary Beneficiary
Current liabilities:
Redeemable noncontrolling interest	$ 175	$ 175

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Statement Of Financial Position [Abstract]
Redeemable convertible preferred stock (Series B, Series C and Series D), par value	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized	8,192,876	8,192,876
Redeemable convertible preferred stock (Series B, Series C and Series D), shares issued	8,192,876	8,192,876
Redeemable convertible preferred stock (Series B, Series C and Series D), shares outstanding	8,192,876	8,192,876
Redeemable convertible preferred stock (Series B, Series C and Series D), aggregate liquidation preference	$ 40,436	$ 40,436
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	40,348,565	40,348,565
Common stock, shares issued	31,683,486	31,429,898
Common stock, shares outstanding	26,188,568	25,934,980
Treasury stock, common shares	5,494,918	5,494,918

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net revenue	$ 59,341	$ 32,285	$ 106,920	$ 65,230
Cost of goods sold	36,643	21,285	68,367	42,724
Gross profit	22,698	11,000	38,553	22,506
Operating expenses:
Selling, general and administrative	9,970	4,758	19,648	9,922
Shipping and distribution	3,666	2,333	6,940	4,412
Total operating expenses	13,636	7,091	26,588	14,334
Income from operations	9,062	3,909	11,965	8,172
Other (expense) income, net:
Interest expense	(97)	(79)	(255)	(165)
Other (expense) income, net	(181)	53	(161)	1,322
Total other (expense) income, net	(278)	(26)	(416)	1,157
Net income before income taxes	8,784	3,883	11,549	9,329
Provision for income taxes	2,848	1,095	3,679	2,516
Net income	5,936	2,788	7,870	6,813
Less: Net (loss) income attributable to noncontrolling interests	(28)	(11)	(39)	956
Net income attributable to Vital Farms, Inc. common stockholders	$ 5,964	$ 2,799	$ 7,909	$ 5,857
Net income per share attributable to Vital Farms, Inc. stockholders:
Basic:	$ 0.23	$ 0.11	$ 0.30	$ 0.23
Diluted:	$ 0.16	$ 0.08	$ 0.21	$ 0.17
Weighted average common shares outstanding:
Basic:	26,007,459	26,440,796	25,974,873	25,426,563
Diluted:	37,896,742	36,241,488	37,755,675	35,067,996

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK , REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Redeemable Noncontrolling InterestVariable Interest Entity, Primary Beneficiary	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Total Stockholders’ Equity Attributable to Vital Farms, Inc. Stockholders	Noncontrolling Interests
Beginning balance, shares at Dec. 30, 2018		8,192,876
Beginning balance at Dec. 30, 2018		$ 23,036
Beginning balance at Dec. 30, 2018			$ 175
Beginning balance, shares at Dec. 30, 2018				28,461,978	(2,642,148)
Beginning balance at Dec. 30, 2018	$ 4,267			$ 3	$ (1,987)	$ 4,245	$ 2,854	$ 5,115	$ (848)
Issuance of common stock, net of issuance costs	7,003					7,003		7,003
Issuance of common stock, net of issuance costs, Shares				1,407,506
Stock-based compensation expense	143					143		143
Net income (loss) attributable to non- controlling interests - stockholders	967								967
Net income attributable to Vital Farms, Inc.	3,058						3,058	3,058
Ending balance at Mar. 31, 2019	15,438			$ 3	$ (1,987)	11,391	5,912	15,319	119
Ending balance, shares at Mar. 31, 2019		8,192,876
Ending balance at Mar. 31, 2019		$ 23,036
Ending balance at Mar. 31, 2019			175
Ending balance, shares at Mar. 31, 2019				29,869,484	(2,642,148)
Beginning balance, shares at Dec. 30, 2018		8,192,876
Beginning balance at Dec. 30, 2018		$ 23,036
Beginning balance at Dec. 30, 2018			175
Beginning balance, shares at Dec. 30, 2018				28,461,978	(2,642,148)
Beginning balance at Dec. 30, 2018	4,267			$ 3	$ (1,987)	4,245	2,854	5,115	(848)
Net income (loss) attributable to non- controlling interests - stockholders	956
Net income attributable to Vital Farms, Inc.	5,857
Ending balance at Jun. 30, 2019	11,392			$ 3	$ (16,276)	18,846	8,711	11,284	108
Ending balance, shares at Jun. 30, 2019		8,192,876
Ending balance at Jun. 30, 2019		$ 23,036
Ending balance at Jun. 30, 2019			175
Ending balance, shares at Jun. 30, 2019				31,424,830	(5,494,918)
Beginning balance, shares at Mar. 31, 2019		8,192,876
Beginning balance at Mar. 31, 2019		$ 23,036
Beginning balance at Mar. 31, 2019			175
Beginning balance, shares at Mar. 31, 2019				29,869,484	(2,642,148)
Beginning balance at Mar. 31, 2019	15,438			$ 3	$ (1,987)	11,391	5,912	15,319	119
Issuance of common stock, net of issuance costs	7,094					7,094		7,094
Issuance of common stock, net of issuance costs, Shares				1,407,506
Exercise of stock options	218					218		218
Exercise of stock options, Shares				147,840
Repurchase of common stock	(14,289)				$ (14,289)			(14,289)
Repurchase of common stock, Shares					(2,852,770)
Stock-based compensation expense	143					143		143
Net income (loss) attributable to non- controlling interests - stockholders	(11)								(11)
Net income attributable to Vital Farms, Inc.	2,799						2,799	2,799
Ending balance at Jun. 30, 2019	$ 11,392			$ 3	$ (16,276)	18,846	8,711	11,284	108
Ending balance, shares at Jun. 30, 2019		8,192,876
Ending balance at Jun. 30, 2019		$ 23,036
Ending balance at Jun. 30, 2019			175
Ending balance, shares at Jun. 30, 2019				31,424,830	(5,494,918)
Beginning balance, shares at Dec. 29, 2019	8,192,876	8,192,876
Beginning balance at Dec. 29, 2019	$ 23,036	$ 23,036
Beginning balance at Dec. 29, 2019			175
Beginning balance, shares at Dec. 29, 2019				31,429,898	(5,494,918)
Beginning balance at Dec. 29, 2019	8,638			$ 3	$ (16,276)	19,593	5,239	8,559	79
Exercise of stock options	10					10		10
Exercise of stock options, Shares				7,588
Stock-based compensation expense	448					448		448
Net income (loss) attributable to non- controlling interests - stockholders	(11)								(11)
Net income attributable to Vital Farms, Inc.	1,945						1,945	1,945
Ending balance at Mar. 29, 2020	$ 11,030			$ 3	$ (16,276)	20,051	7,184	10,962	68
Ending balance, shares at Mar. 29, 2020		8,192,876
Ending balance at Mar. 29, 2020		$ 23,036
Ending balance at Mar. 29, 2020			175
Ending balance, shares at Mar. 29, 2020				31,437,486	(5,494,918)
Beginning balance, shares at Dec. 29, 2019	8,192,876	8,192,876
Beginning balance at Dec. 29, 2019	$ 23,036	$ 23,036
Beginning balance at Dec. 29, 2019			175
Beginning balance, shares at Dec. 29, 2019				31,429,898	(5,494,918)
Beginning balance at Dec. 29, 2019	$ 8,638			$ 3	$ (16,276)	19,593	5,239	8,559	79
Exercise of stock options, Shares	56,788
Net income (loss) attributable to non- controlling interests - stockholders	$ (39)
Net income attributable to Vital Farms, Inc.	7,909
Ending balance at Jun. 28, 2020	$ 17,704			$ 3	$ (16,276)	20,789	13,148	17,664	40
Ending balance, shares at Jun. 28, 2020	8,192,876	8,192,876
Ending balance at Jun. 28, 2020	$ 23,036	$ 23,036
Ending balance at Jun. 28, 2020			175
Ending balance, shares at Jun. 28, 2020				31,683,486	(5,494,918)
Beginning balance, shares at Mar. 29, 2020		8,192,876
Beginning balance at Mar. 29, 2020		$ 23,036
Beginning balance at Mar. 29, 2020			175
Beginning balance, shares at Mar. 29, 2020				31,437,486	(5,494,918)
Beginning balance at Mar. 29, 2020	11,030			$ 3	$ (16,276)	20,051	7,184	10,962	68
Exercise of stock options	160					160		160
Exercise of stock options, Shares				49,200
Exercise of warrant	282					282		282
Exercise of warrant, Shares				196,800
Stock-based compensation expense	296					296		296
Net income (loss) attributable to non- controlling interests - stockholders	(28)								(28)
Net income attributable to Vital Farms, Inc.	5,964						5,964	5,964
Ending balance at Jun. 28, 2020	$ 17,704			$ 3	$ (16,276)	$ 20,789	$ 13,148	$ 17,664	$ 40
Ending balance, shares at Jun. 28, 2020	8,192,876	8,192,876
Ending balance at Jun. 28, 2020	$ 23,036	$ 23,036
Ending balance at Jun. 28, 2020			$ 175
Ending balance, shares at Jun. 28, 2020				31,683,486	(5,494,918)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK , REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Issuance of common stock, net of issuance costs	$ 406	$ 497

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Cash flows provided by operating activities:
Net income	$ 7,870	$ 6,813
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	954	726
Non-cash interest expense	11	4
Bad debt recovery	(150)
Inventory provisions	165	(67)
Change in fair value of contingent consideration	(350)	38
Stock-based compensation expense	744	286
Loss on write-off of construction in progress	209
Deferred taxes	1,551
Non-cash interest income	(13)	(66)
Changes in operating assets and liabilities:
Accounts receivable	241	(225)
Inventories	2,860	(5,737)
Income taxes payable	1,970	1,100
Prepaid expenses and other current assets	848	222
Deposits and other assets	(28)	85
Accounts payable	2,290	316
Accrued liabilities and other liabilities	(1,444)	(1,449)
Net cash provided by operating activities	17,728	2,046
Cash flows used in investing activities:
Purchases of property, plant and equipment	(5,388)	(1,479)
Notes receivable provided to related parties		(4,000)
Net cash used in investing activities	(5,388)	(5,479)
Cash flows provided by (used in) financing activities:
Proceeds from borrowings under term loan	5,000
Proceeds from borrowings under equipment loan	1,461
Proceeds from Paycheck Protection Program loan	2,593
Proceeds from issuance of common stock		15,000
Repayment of revolving line of credit	(1,325)
Repayment of equipment loan	(98)
Repayment of term loan	(335)	(335)
Repayment of Paycheck Protection Program loan	(2,593)
Repurchase of common stock		(14,289)
Payment of contingent consideration	(89)	(233)
Payment of issuance costs of common stock		(903)
Principal payments under lease obligation	(222)	(211)
Proceeds from exercise of stock options	170	218
Proceeds from exercise of warrant	282
Payment of deferred offering costs	(1,364)
Net cash provided by (used in) financing activities	3,480	(753)
Net increase in cash and cash equivalents	15,820	(4,186)
Cash and cash equivalents at beginning of the period	1,274	11,815
Cash and cash equivalents at end of the period	17,094	7,629
Supplemental disclosure of cash flow information:
Cash paid for interest	261	181
Cash paid for income taxes	10	1,291
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property, plant and equipment included in accounts payable and accrued liabilities	254	$ 68
Deferred offering costs in accounts payable and accrued liabilities	$ 974

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	6 Months Ended
	Jun. 28, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	1. Nature of the Business and Basis of Presentation Vital Farms, Inc. (“Vital Farms”) was incorporated in Delaware on June 6, 2013 and is headquartered in Austin, Texas. Vital Farms packages, markets and distributes pasture-raised shell eggs, pasture-raised butter and other products. These products are sold under the trade names Vital Farms, Alfresco Farms, Lucky Ladies and RedHill Farms, primarily to retail foodservice channels in the United States. Vital Farms Arkansas, LLC, Vital Farms Missouri, LLC, Backyard Eggs, LLC, Barn Door Farms, LLC and Sagebrush Foodservice, LLC are all wholly owned subsidiaries of Vital Farms (collectively referred to with Vital Farms as the “Company”). All significant intercompany transactions and balances have been eliminated in the Vital Farms unaudited condensed consolidated financial statements. The accompanying unaudited condensed consolidated financial statements as of June 28, 2020 and for the 13-week and 26-week periods ended June 28, 2020 and June 30, 2019 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. The accompanying unaudited condensed consolidated financial statements include the accounts of Vital Farms, its subsidiaries and a variable interest entity (“VIE”) in which Vital Farms has a variable interest and is the primary beneficiary. The noncontrolling interest attributable to the VIE is presented as a component separate from stockholders’ equity in the unaudited condensed consolidated balance sheets. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the fiscal year ended December 29, 2019 included in the Company’s final prospectus that forms a part of the Company’s Registration Statement on Form S-1 (Reg. No. 333-239772), filed with the SEC pursuant to Rule 424(b)(4) on July 31, 2020 (the “Prospectus”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, the included disclosures are adequate and the accompanying unaudited condensed consolidated financial statements contain all adjustments which are necessary for a fair presentation of the Company’s consolidated financial position as of June 28, 2020, consolidated results of operations for the 13-week and 26-week periods ended June 28, 2020 and June 30, 2019, and consolidated cash flows for the 26-week periods ended June 28, 2020 and June 30, 2019. Such adjustments are of a normal and recurring nature. The consolidated results of operations for the 13-week period and 26-week period ended June 28, 2020 are not necessarily indicative of the consolidated results of operations that may be expected for the fiscal year ending December 27, 2020. Reclassification of Prior Period Presentation: Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported consolidated results of operations. Fiscal Year: The Company’s fiscal year ends on the last Sunday in December and contains either 52 or 53 weeks. In a 52-week fiscal year, each of the Company’s fiscal quarters consist of 13 weeks. The additional week in a 53-week fiscal year is added to the fourth quarter, making such quarter consist of 14 weeks. Therefore, the financial results of certain 53-week fiscal years, and the associated 14-week quarters, will not be exactly comparable to the prior and subsequent 52-week fiscal years and the associated 13-week quarters. The quarters ended June 28, 2020 and June 30, 2019 both contain operating results for 13 weeks. Impact of COVID-19 Pandemic: Due to the ongoing COVID-19 pandemic, the Company has implemented business continuity plans designed to address and mitigate the impact of the COVID-19 pandemic on the Company’s business. The Company does not currently anticipate that the COVID-19 pandemic will have a material impact on the timelines for the Company’s product development and expansion efforts. However, the extent to which the COVID-19 pandemic impacts the Company’s business, product development and expansion efforts, corporate development objectives and the value of and market for the Company’s common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, and the effectiveness of actions taken globally to contain and treat the disease. The global economic slowdown, the overall disruption of global supply chains and distribution systems and the other risks and uncertainties associated with the pandemic could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Forward Stock Split: In July 2020, the board of directors and the stockholders of the Company approved a 2.46-for-1 forward stock split of the Company’s outstanding common stock and preferred stock, which was effected on July 22, 2020. Stockholders entitled to fractional shares as a result of the forward stock split will receive a cash payment in lieu of receiving fractional shares. All common stock, preferred stock, and per share information has been retroactively adjusted to give effect to this forward stock split for all periods presented. Shares of common stock underlying outstanding stock options and other equity instruments were proportionately increased and the respective per share value and exercise prices, if applicable, were proportionately decreased in accordance with the terms of the agreements governing such securities. There were no changes in the par values of the Company’s common stock and preferred stock as a result of the forward stock split. Initial Public Offering: In August 2020, the Company completed its initial public offering (“IPO”) of 10,699,573 shares of common stock at an offering price of $ 22.00 per share. The Company offered 5,040,323 shares of common stock and the selling stockholders identified in the Prospectus offered an additional 5,659,250 shares of common stock, including the underwriter’s option to purchase up to an additional 1,395,596 shares of common stock from the selling stockholders. The Company received gross proceeds of approximately $ 110,887 before deducting underwriting discounts, commissions and offering related transaction costs; the Company did not receive any proceeds from the sale of shares by the selling stockholders. Upon the closing of the IPO in August 2020, which was deemed a Qualified IPO (as defined below), all of the then-outstanding shares of preferred stock automatically converted into 8,192,876 shares of common stock on a one-for-one basis. Subsequent to the closing of the IPO, there were no shares of preferred stock outstanding. The condensed consolidated financial statements as of June 28, 2020, including share and per share amounts, do not include the effects of the IPO.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 28, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The significant accounting policies and estimates used in preparation of the unaudited condensed consolidated financial statements are described in the Company’s audited consolidated financial statements as of and for the fiscal year ended December 29, 2019, and the notes thereto, which are included in the Prospectus. Except as detailed below, there have been no material changes to the Company’s significant accounting policies during the 26-week period ended June 28, 2020. Use of Estimates: The Company does not currently anticipate that the COVID-19 pandemic will have a material impact on the timelines for the Company’s product development and expansion efforts and the Company’s corporate development objectives. Because future COVID-19 developments are highly uncertain and cannot be predicted with confidence at this time, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the unaudited condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s unaudited condensed consolidated financial statements. Deferred Offering Costs: The Company capitalizes certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings until such financings are consummated. After consummation of an equity financing, these costs are recorded as a reduction of the proceeds received as a result of the financing. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses. As of June 28, 2020, the Company recorded deferred offering costs related to its initial public offering (“IPO”) of $2,338 in the accompanying unaudited condensed consolidated balance sheets and are included in prepaid expenses and other current assets. Recently Adopted Accounting Pronouncements: The new accounting pronouncements recently adopted by the Company are described in the Company’s audited consolidated financial statements as of and for the fiscal year ended December 29, 2019, and the notes thereto, which are included in the Company’s Prospectus. Except as described below, there have been no new accounting pronouncements adopted by the Company during the 26-week period ended June 28, 2020. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting Recently Issued Accounting Pronouncements Not Yet Adopted: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) and also issued subsequent amendments to the initial guidance, ASU 2017-13, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20, ASU 2019-01, ASU 2019-10, ASU 2020-02, and ASU 2020-05 (collectively, “Topic 842”). The guidance in Topic 842 supersedes the leasing guidance in Topic 840, Leases . Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the unaudited condensed consolidated statement of operations. An entity may adopt the guidance either (1) retrospectively to each prior reporting period presented in the financial statements with a cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented or (2) retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment. The Company expects to adopt Topic 842 retrospectively at the beginning of the period of adoption, December 27, 2021, through a cumulative-effect adjustment, and will not apply the new standard to comparative periods presented. The new standard provides a number of practical expedients. Upon adoption, the Company expects to elect all of the practical expedients available. The Company is currently evaluating the impact of its pending adoption of Topic 842 on its consolidated financial statements. It is anticipated that the primary impact of the adoption of Topic 842 will be the recording of a right-of-use asset and lease liability of similar amount on the Company’s unaudited condensed consolidated balance sheet. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Fair Value

Fair Value	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Fair Value	3. Fair Value The contingent consideration in the unaudited condensed consolidated balance sheets relates to royalty payments in connection with the Heartland Eggs, LLC asset acquisition. The fair value of the contingent consideration was determined based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The following tables presents information about the Company’s financial liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 28, 2020, Using: Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration, current $ — $ — $ 159 $ 159 Contingent consideration, non-current — — 54 54 Total $ — $ — $ 213 $ 213 Fair Value Measurements as of December 29, 2019 Using: Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration, current $ — $ — $ 270 $ 270 Contingent consideration, non-current — — 382 382 Total $ — $ — $ 652 $ 652 During the 13-week and 26-week periods ended June 28, 2020 and June 30, 2019, there were no transfers between fair value measurement levels. During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recognized unrealized (gains) and losses associated with the fair value of contingent consideration of ($327) and $16, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recognized unrealized (gains) and losses associated with the fair value of contingent consideration of ($350) and $38, respectively. The following table provides a rollforward of the aggregate fair value of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs: Balance as of December 29, 2019 $ 652 Payment of contingent consideration (47 ) Change in fair value (23 ) Balance as of March 29, 2020 $ 582 Payment of contingent consideration (42 ) Change in fair value (327 ) Balance as of June 28, 2020 $ 213 The following table presents the unobservable inputs incorporated into the valuation of contingent consideration: Unobservable Input June 28, 2020 Dozens of eggs supplied 3,208,304 Royalty rate per dozen eggs $ 0.07 Estimated royalty income $ 225 Discount interval (in years) 1.9

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 28, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	4. Revenue Recognition The following table summarizes the Company’s net revenue by primary product for the periods presented: 13-Weeks Ended 26-Weeks Ended June 28, 2020 June 30, 2019 June 28, 2020 June 30, 2019 Net Revenue: Eggs $ 54,494 $ 30,012 $ 98,439 $ 60,151 Butter 4,847 2,273 8,481 5,079 Net Revenue $ 59,341 $ 32,285 $ 106,920 $ 65,230 Net revenue is primarily generated from the sale of eggs and butter. Historically, the Company’s product offering was comprised of pasture-raised shell eggs, pasture-raised hard-boiled eggs and pasture-raised butter. In 2019, the Company added both liquid whole eggs and clarified butter (“ghee”) to its product offerings. During the 13-week periods ended June 28, 2020 and June 30, 2019, net revenue generated from eggs included net revenue from pasture-raised shell eggs of $53,912 and $29,639, respectively, net revenue generated from liquid whole eggs of $252 and $0, respectively, and net revenue generated from pasture-raised hard boiled eggs of $330 and $373, respectively. During the 13-week periods ended June 28, 2020 and June 30, 2019, net revenue generated from butter included net revenue from pasture-raised butter of $4,557 and $2,237, respectively, and net revenue generated from ghee of $290 and $36, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, net revenue generated from eggs included net revenue from pasture-raised shell eggs of $97,352 and $59,380, respectively, net revenue generated from liquid whole eggs of $401 and $0, respectively, and net revenue generated from pasture-raised hard boiled eggs of $686 and $771, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, net revenue generated from butter included net revenue from pasture-raised butter of $7,937 and $4,980, respectively, and net revenue generated from ghee of $544 and $99, respectively. The 13-week and 26-week periods ended June 28, 2020 include $624 revenue resulting from reduction of a sales promotion incentive settled in Q2 2020 that related to a prior year’s gross sales. As of June 28, 2020 and December 29, 2019, the Company had customers that individually represented 10% or more of the Company’s accounts receivable, net and during the 13-week periods and 26-week periods ended June 28, 2020 and June 30, 2019, the Company had customers that individually exceeded 10% or more of the Company’s net revenue. The percentage of net revenue from these significant customers during the 13-week periods and 26-week periods ended June 28, 2020 and June 30, 2019, and accounts receivable, net due from these significant customers as of June 28, 2020 and December 29, 2019, are as follows: Net Revenue for the 13-Weeks Ended June 28, 2020 Net Revenue for the 13-Weeks Ended June 30, 2019 Net Revenue for the 26-Weeks Ended June 28, 2020 Net Revenue for the 26-Weeks Ended June 30, 2019 Customer A 11% 34% 22% 35% Customer B 14% 13% 14% 13% Customer C 13% 11% 12% 11% Customer D 21% * 12% * * Revenue was less than 10%. Accounts Receivable, Net as of June 28, 2020 Accounts Receivable, Net as of December 29, 2019 Customer A * 25% Customer B 20% 21% Customer C * * Customer D 22% * * Accounts receivable was less than 10%.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 28, 2020
Receivables [Abstract]
Accounts Receivable	5. Accounts Receivable Accounts receivable, net was $16,016 and $16,108 as of June 28, 2020 and December 29, 2019, respectively. As of June 28, 2020 and December 29, 2019, the Company recorded an allowance for doubtful accounts of $154 and $304, respectively. Changes in the allowance for doubtful accounts were as follows: Allowance for doubtful accounts As of December 29, 2019 $ (304 ) Provisions Charged to Operating Results — Account Write-off and Recoveries 116 As of March 29, 2020 (188 ) Provisions Charged to Operating Results — Account Write-off and Recoveries 34 As of June 28, 2020 $ (154 )

Inventories

Inventories	6 Months Ended
	Jun. 28, 2020
Inventory Disclosure [Abstract]
Inventories	6. Inventories Inventory consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Eggs and inventory in transit $ 5,939 $ 8,811 Butter 1,069 646 Packaging 1,575 1,949 Ghee 606 792 Egg Bites 77 — Other 656 749 $ 9,922 $ 12,947 Changes in the excess and obsolete inventory reserve for the period presented, were as follows: Excess and obsolete inventory reserve As of December 29, 2019 $ (189 ) Provisions Charged to Operating Results (73 ) Account Write-off — As of March 29, 2020 (262 ) Provisions Charged to Operating Results (92 ) Account Write-off — As of June 28, 2020 $ (354 ) During the 13-week periods ended June 28, 2020 and June 30, 2019, laying-hen costs amortized to cost of goods sold were approximately $125 and $139, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, laying-hen costs amortized to cost of goods sold were approximately $240 and $278, respectively. On a periodic basis, the Company compares the amount of inventory on hand with its latest forecasted requirement to determine whether write-offs for excess or obsolete inventory reserves are required.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 28, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	7. Property, Plant and Equipment Property, plant and equipment consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Land $ 525 $ 525 Buildings and improvements 14,266 14,241 Vehicles 502 454 Machinery and equipment 8,493 6,297 Leasehold improvements 486 483 Furniture and fixtures 447 422 Construction in progress 6,418 3,396 31,137 25,818 Less: Accumulated depreciation and amortization (4,314 ) (3,360 ) Property, plant and equipment, net $ 26,823 $ 22,458 During the 13-week periods ended June 28, 2020 and June 30, 2019, depreciation and amortization of property, plant and equipment was approximately $498 and $370, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, depreciation and amortization of property, plant and equipment was approximately $954 and $726, respectively. As of June 28, 2020 and December 29, 2019, machinery and equipment that was leased under capital leases and included in property, plant and equipment, net in the unaudited condensed consolidated balance sheets was approximately $1,347 and $1,505, respectively.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 28, 2020
Payables And Accruals [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Accrued promotions and expired product chargebacks $ 1,927 $ 2,038 Accrued grower payments 16 1,649 Accrued employee related costs 2,428 1,132 Accrued offering costs 1,190 385 Accrued distribution fees and freight 345 624 Accrued accounting and legal fees 73 86 Accrued marketing and commissions 348 887 Property, plant and equipment — 964 Other 1,493 843 Accrued liabilities $ 7,820 $ 8,608

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt In October 2017, the Company entered into a credit facility agreement with PNC Bank, National Association (the “Credit Facility”) that provided for an initial term loan of $4,700 (the “Term Loan”) and a revolving line of credit of up to $10,000 (the “Revolving Line of Credit”). The Credit Facility also originally provided for a $1,500 equipment loan (the “Equipment Loan”) for the purpose of funding permitted capital expenditures, subject to certain restrictions. The Credit Facility matures in October 2022. In April 2018, the Company entered into amended loan agreements in connection with the Credit Facility (the “First Amendment Loan” and “Second Amendment Loan,” respectively). The First Amendment Loan was entered to decrease the maximum borrowing capacity under the Equipment Loan from $1,500 to $750 and to waive existing events of default. The Second Amendment Loan was entered to modify various definitions and terms that were not significant. In February 2019, the Company entered into the Third Amendment to the Credit Facility (“Third Amendment Loan”). The Third Amendment Loan waived existing events of default under the Credit Facility. In February 2020, the Company entered into the Fourth Amendment to the Credit Facility (“Fourth Amendment Loan”) which amended certain terms and conditions under the Credit Facility. In addition, the Fourth Amendment Loan increased the maximum borrowing capacity under the Credit Facility to $17,700. The Fourth Amendment Loan also increased the maximum borrowing capacity under the Equipment Loan to $3,000 and extended the borrowing period for the Equipment Loan from October 2019 to October 2021. In May 2020, the Company entered into the Fifth Amendment to the Credit Facility (‘Fifth Amendment Loan”) which waived a technical default that was triggered by exceeding the capital expenditure limit under the Credit Facility, and amended certain terms and conditions, including an increase to the capital expenditure limit. In addition, the Fifth Amendment Loan increased the maximum borrowing capacity of the Credit Facility to $22,700. The Fifth Amendment Loan also increased the maximum borrowing capacity under the Revolving Line of Credit to $15,000. In June 2020, the Company entered into the Sixth Amendment to the Credit Facility (“Sixth Amendment Loan”) which amended certain terms and conditions under the Credit Facility and increased the maximum borrowing capacity of the Credit Facility to $25,910. In addition, the Sixth Amendment Loan refinanced the Term Loan and provided for the borrowing of an additional $5,000, resulting in the issuance of an amended and restated secured term loan note in the amount of $7,910. Borrowings under the amended and restated Term Loan are repayable in monthly installments of principal and interest, followed by a balloon payment of all unpaid principal and accrued and unpaid interest due in July 2027. Interest on borrowings under the amended and restated Term Loan accrues at a rate, at the Company’s election at the time of borrowing, equal to (i) LIBOR plus 3.25% or (ii) 2.25% plus the sum of the Federal Funds Open Rate plus 50 basis points and the Daily LIBOR Rate plus 100 basis points. As of June 28, 2020 and December 29, 2019, the interest rate applicable to borrowings under the amended and restated Term Loan was 3.53% and 4.64%, respectively. The maximum borrowing capacity under the Revolving Line of Credit is $15,000. Interest on borrowings under the Revolving Line of Credit, as well as loan advances thereunder, accrues at a rate, at the Company’s election at the time of borrowing, equal to (i) LIBOR plus 2.25% or (ii) 1.25% plus the alternate base rate. As of June 28, 2020 and December 29, 2019, the interest rate applicable to borrowings under the Revolving Line of Credit was 4.50% and 5.75%, respectively. The maximum borrowing capacity under the Equipment Loan is $3,000, subject to certain restrictions. Any borrowings under the Equipment Loan from October 2018 through October 2021 will be due and payable beginning the following month with 36 monthly installments of principal due through October 2022, and all accrued and unpaid interest due October 2022. Interest on borrowings under the Equipment Loan accrues at a rate, at the Company’s election at the time of borrowing, equal to (i) LIBOR plus 3.00% or (ii) 2.00% plus the alternate base rate. As of June 28, 2020 and December 29, 2019, the interest rate applicable to borrowings under the Equipment Loan was 4.76% and 4.44%, respectively. The Credit Facility is secured by all of the Company’s assets and requires the Company to maintain two financial covenants: a fixed charge coverage ratio and a leverage ratio. The Credit Facility also contains various covenants relating to limitations on indebtedness, dividends, investments and acquisitions, mergers, consolidations, the sale of properties and liens and capital expenditures. In addition, the Credit Facility imposes limitations on the Company’s ability to pay dividends or distributions on any equity interest, declare any stock splits or reclassifications of its stock, or apply any of its funds, property or assets to purchase, redeem or retire any of its equity interests or to purchase, redeem or retire any of its options to purchase any of its equity interests. As a result of the limitations contained in the Credit Facility, all of the net assets on the Company’s unaudited condensed consolidated balance sheet as of June 28, 2020 are restricted in use. The Company’s wholly owned subsidiaries are non-operating and do not hold any assets or liabilities; therefore, these subsidiaries have no restricted net assets within the meaning of Rule 4-08(e)(3) or Rule 12-04 of Regulation S-X. The Credit Facility also contains other customary covenants, representations and events of default. As of June 28, 2020, the Company was in compliance with all covenants under the Credit Facility. Debt issuance costs associated with the Credit Facility are reflected as a reduction of the carrying value of long-term debt on the Company’s unaudited condensed consolidated balance sheets and are being amortized to interest expense over the term of the Credit Facility using the effective interest method. During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recognized interest expense of $97 and $79, respectively, which includes amortization of debt issuance costs of $7 and $10, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recognized interest expense of $255 and $165, respectively, which includes amortization of debt issuance costs of $16 and $20, respectively. As of the periods presented, long-term debt, net of current portion, consisted of the following: June 28, 2020 December 29, 2019 Term Loan $ 7,910 $ 3,245 Revolving Line of Credit — 1,325 Equipment Loan 1,917 554 Less: current portion of long-term debt (1,460 ) (2,160 ) Less: unamortized debt issuance costs (52 ) (68 ) Long-term debt, net of current portion $ 8,315 $ 2,896 Future principal payments for long-term debt as of June 28, 2020 are as follows: For 26-Week Period 2020 (remaining twenty-six weeks) $ 664 2021 1,731 2022 7,432 Total $ 9,827 Amounts outstanding under the Company’s Revolving Line of Credit as of December 29, 2019 have been presented as current obligations under current portion of long-term debt in the Company’s unaudited condensed consolidated balance sheets due to the Company’s ability and intent to repay the amounts within the next twelve months. The Company repaid all amounts outstanding under the Revolving Line of Credit in April 2020 and all amounts outstanding under the Equipment Loan in September 2020. Paycheck Protection Program Loan: In April 2020, the Company received loan proceeds of approximately $2,593 under the Paycheck Protection Program (“PPP”) (the “PPP Loan”). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), provides for loans to qualify businesses for amounts up to 2.5 times of the average monthly payroll expenses for the qualifying business. The Company elected to not use any of the PPP Loan proceeds of $2,593 and repaid the entire balance of the PPP Loan in April 2020.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Redeemable Convertible Preferred Stock	10. Redeemable Convertible Preferred Stock As of June 28, 2020, and December 29, 2019, the Company’s amended and restated certificate of incorporation authorized the Company to issue 8,192,876 shares, par value $0.0001 per share, of preferred stock, of which 2,728,018 shares are designated Series B redeemable convertible preferred stock, 2,464,466 shares are designated Series C redeemable convertible preferred stock, and 3,000,392 shares are designated Series D redeemable convertible preferred stock (collectively, the “Preferred Stock”). As of the dates presented, Preferred Stock consisted of the following: June 28, 2020 Preferred Stock Designated Preferred Stock Issued and Outstanding Carrying Value Liquidation Preference Common Stock Issuable Upon Conversion Series B preferred stock 2,728,018 2,728,018 $ 4,377 $ 9,005 2,728,018 Series C preferred stock 2,464,466 2,464,466 7,639 12,002 2,464,466 Series D preferred stock 3,000,392 3,000,392 11,020 19,429 3,000,392 Total Preferred Stock 8,192,876 8,192,876 $ 23,036 $ 40,436 8,192,876 December 29, 2019 Preferred Stock Designated Preferred Stock Issued and Outstanding Carrying Value Liquidation Preference Common Stock Issuable Upon Conversion Series B preferred stock 2,728,018 2,728,018 $ 4,377 $ 9,005 2,728,018 Series C preferred stock 2,464,466 2,464,466 7,639 12,002 2,464,466 Series D preferred stock 3,000,392 3,000,392 11,020 19,429 3,000,392 Total Preferred Stock 8,192,876 8,192,876 $ 23,036 $ 40,436 8,192,876 Prior to the IPO, the holders of the Preferred Stock have the following rights and preferences: Voting: The holders of the Preferred Stock are entitled to the number of votes equal to the number of whole shares of the Company’s common stock into which the shares of Preferred Stock held by such holder are convertible on such date. The holders of Preferred Stock shall vote together with the holders of the Company’s common stock, as a single class, on all matters submitted to a vote of stockholders. Liquidation: Upon any voluntary or involuntary liquidation, dissolution or winding up of the Company, holders of Series D preferred stock will be entitled to be paid out of the assets of the Company available for distribution to its stockholders before any payment shall be made to the holders of Series B preferred stock, Series C preferred stock or the Company’s common stock by reason of their ownership thereof, an amount equal to the greater of (a) $6.48 per share of Series D preferred stock, plus any dividends declared but unpaid thereon, and (b) such amount per share as would have been payable had all shares of Series D preferred stock been converted into common stock immediately prior to a liquidation, dissolution or deemed liquidation event; provided that, if upon any liquidation event the amount payable with respect to any Series D preferred stock are not paid in full, the holders thereof shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them. Upon any voluntary or involuntary liquidation, dissolution or winding up of the Company, holders of Series B preferred stock and Series C preferred stock will be entitled to be paid out of the assets of the Company available for distribution to its stockholders, before any payment shall be made to the holders of the Company’s common stock, an amount equal to the greater of (i) $3.30 per share of Series B preferred stock, plus any declared but unpaid dividends, or $4.87 per share of Series C preferred stock or (ii) such amount per share as would have been payable had all shares of Series B preferred stock and Series C preferred stock been converted into shares of the Company’s common stock immediately prior to such liquidation, dissolution or deemed liquidation event; provided that, if upon any liquidation event the amounts payable with respect to any series of Series B preferred stock and Series C preferred stock, are not paid in full, the holders there of shall share ratably in all the assets available for payment in proportion to the full respective liquidation preference amount to which they are entitled. Upon completion of the distributions required above, the remaining assets of the Company available for distribution to its stockholders shall be distributed ratably to the holders of the Company’s common stock. Conversion: Each share of Preferred Stock is convertible into shares of the Company’s common stock on a one-for-one basis, subject to appropriate adjustment in the event of any stock dividend, stock split or similar recapitalization, at the option of the stockholder and subject to adjustments in accordance with anti-dilution provisions. In addition, such shares will be converted automatically into shares of the Company’s common stock at the then applicable conversion ratio upon the earlier of (i) a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (a “Qualified IPO”), or (ii) the occurrence of an event specified by vote or written consent of the holders of at least 66.66% of the then outstanding shares of Preferred Stock. Dividends: Dividends are payable if and when declared by the Company’s board of directors. Redemption: The holders of the Company’s Preferred Stock have no voluntary rights to redeem shares. A liquidation, dissolution or winding up of the Company would constitute a redemption event, which may be outside of the Company’s control. Upon the closing of the IPO in August 2020, which was deemed a Qualified IPO, all of the then-outstanding shares of Preferred Stock automatically converted into 8,192,876 shares of common stock on a one-for-one basis. Subsequent to the closing of the IPO, there were no shares of Preferred Stock outstanding.

Common Stock and Common Stock W

Common Stock and Common Stock Warrant	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Common Stock and Common Stock Warrant	11. Common Stock and Common Stock Warrant Common Stock: As of June 28, 2020, the Company’s amended and restated certificate of incorporation authorized the Company to issue 40,348,565 shares of common stock, par value $0.0001 per share. In March 2019 and April 2019, the Company issued and sold an aggregate of 2,815,012 shares of common stock at a purchase price of $5.3286 per share, for proceeds of $14,097, net of issuance costs of $903. In March 2019 and April 2019, the Company executed a tender offer to repurchase 2,852,770 shares of its common stock and the vested equity of certain directors, employees and officers for a net purchase price of $5.0087 per shares for net proceeds of $14,289. The voting, dividend and liquidation rights of the holders of the Company’s common stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth above. Each share of the Company’s common stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders. Holders of the Company’s common stock are entitled to receive dividends as may be declared by the Company’s board of directors, if any, subject to the preferential dividend rights of Preferred Stock. No cash dividends had been declared or paid during the periods presented. As of each balance sheet date, the Company had reserved shares of common stock for issuance in connection with the following: June 28, 2020 December 29, 2019 Conversion of outstanding shares of redeemable convertible preferred stock 8,192,876 8,192,876 Warrants to purchase common stock — 196,800 Options to purchase common stock 4,902,229 5,413,064 Shares available for grant under the 2013 Incentive Plan 694,126 240,079 Total 13,789,231 14,042,819 Common Stock Warrant: In June 2015, the Company issued a warrant to the guarantor of a line of credit agreement that was entered in 2015 and matured and was repaid in full in 2017. The guarantor was also the Company’s Chief Executive Officer. The warrant provided for the purchase of a total of 196,800 shares of the Company’s common stock at an exercise price of $1.43 per share. The warrant was schedule to expire on the earlier of June 12, 2020 or the completion of the IPO. At the time of issuance, the Company classified the warrant as equity in its unaudited condensed consolidated balance sheets. On June 9, 2020, the guarantor exercised the warrant to purchase 196,800 shares of the Company’s common stock resulting in net proceeds of approximately $282.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 28, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation As of June 28, 2020, 694,126 shares were available for future grants of the Company’s common stock. The following table summarizes the Company’s stock option activity since December 29, 2019: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of December 29, 2019 5,413,064 $ 3.73 7.3 $ 60,059 Granted 40,588 $ 12.43 Exercised (56,788 ) $ 2.99 $ 751 Cancelled (494,635 ) $ 5.29 Outstanding as of June 28, 2020 4,902,229 $ 3.66 6.6 $ 61,561 Options exercisable as of June 28, 2020 2,478,270 $ 2.08 4.5 $ 35,027 Options vested and expected to vest as of June 28, 2020 4,902,229 $ 3.66 6.6 $ 61,561 The fair value of shares vested during the 13-week period and the 26-week period ended June 28, 2020 was $40 and $312, respectively. The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of the stock options granted by the Company during the 26-week period ended June 28, 2020: Expected term (in years) 5.6 Expected stock price volatility 41.18% Risk-free interest rate 0.41% Expected dividend yield 0.00% During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recognized stock-based compensation expense of $296 and $143, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recognized stock-based compensation expense of $744 and $286, respectively. The Company records stock-based compensation expense in selling, general and administrative expenses. As of June 28, 2020, total unrecognized stock-based compensation expense related to unvested stock options was $4,700, which is expected to be recognized over a weighted-average period of 1.9 years.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective tax rate for the 13-week periods ended June 28, 2020 and June 30, 2019 was approximately 32% and 28%, respectively. The Company’s effective tax rate for the 26-week periods ended June 28, 2020 and June 30, 2019 was approximately 32% and 27%, respectively. The effective tax rates differ from the federal statutory rate of 21% principally as a result of non-deductible expenses, partially offset by the enhanced food donation tax deduction for both the 26-week periods ended June 28, 2020 and June 30, 2019.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Net Income Per Share	14. Net Income Per Share Basic and diluted net income per share attributable to Vital Farms, Inc. common stockholders were calculated as follows: 13-Weeks Ended June 28, 2020 June 30, 2019 Numerator: Net income $ 5,936 $ 2,788 Less: Net loss attributable to noncontrolling interests (28 ) (11 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 5,964 $ 2,799 Denominator: Weighted average common shares outstanding — basic 26,007,459 26,440,796 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,580,960 1,463,816 Effect of potentially dilutive common stock warrants 115,447 144,000 Effect of potentially dilutive redeemable convertible preferred stock 8,192,876 8,192,876 Weighted average common shares outstanding — diluted 37,896,742 36,241,488 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.23 $ 0.11 Diluted $ 0.16 $ 0.08 26-Weeks Ended June 28, 2020 June 30, 2019 Numerator: Net income $ 7,870 $ 6,813 Less: Net (loss) income attributable to noncontrolling interests (39 ) 956 Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 7,909 $ 5,857 Denominator: Weighted average common shares outstanding — basic 25,974,873 25,426,563 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,444,989 1,304,557 Effect of potentially dilutive common stock warrants 142,937 144,000 Effect of potentially dilutive redeemable convertible preferred stock 8,192,876 8,192,876 Weighted average common shares outstanding — diluted 37,755,675 35,067,996 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.30 $ 0.23 Diluted $ 0.21 $ 0.17 For the 13-week periods ended June 28, 2020 and June 30, 2019, options to purchase 118,584 shares of common stock and 399,701 shares of common stock, respectively, were excluded from the computation of diluted net income per share attributable to Vital Farms Inc. common stockholders because including them would have been antidilutive. For the 26-week periods ended June 28, 2020 and June 30, 2019, options to purchase 116,764 shares of common stock and 1,073,637 shares of common stock, respectively, were excluded from the computation of diluted net income per share attributable to Vital Farms Inc. common stockholders because including them would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Operating Leases: As of June 28, 2020, the Company was leasing 9,082 square feet of office space and parking spaces in Austin, Texas. The lease expires in April 2026. The Company has the option to extend the lease agreement for successive periods of up to five years. The monthly lease payments, which include base rent charges of $19, are subject to periodic rent increases through April 2026. As of June 28, 2020, the Company was leasing warehouse space in Webb City, Missouri for 5,000 rentable pallet spaces. The Company has the option to exceed the 5,000 pallet spaces through December 31, 2021, the amended lease expiration date. The monthly lease payments include base rent charges of $55. As of June 28, 2020, the Company was leasing warehouse space in Springfield, Missouri for 3,750 rentable pallet spaces. The Company has the option to exceed the 3,750 pallet spaces through September 30, 2023, the lease expiration date. The monthly lease payments, which include base rent charges of $85, are subject to periodic rent increases through September 2023. The Company recognizes rent expense on a straight-line basis over the respective lease period and has recorded deferred rent for rent expense incurred but not yet paid. During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recognized rent expense, including associated common area maintenance charges, of $107 and $83, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recognized rent expense, including associated common area maintenance charges, of $222 and $162, respectively. As of June 28, 2020, future minimum lease payments under noncancelable operating leases are as follows: 2020 (remaining twenty-six weeks) $ 734 2021 1,989 2022 1,362 2023 1,121 2024 329 Thereafter 454 Total $ 5,989 Supplier Contracts: The Company purchases its egg inventories under long-term supply contracts with farms. Purchase commitments contained in these arrangements are variable dependent upon the quantity of eggs produced by the farms. Accordingly, there are no estimable future purchase commitments associated with these supplier contracts. In addition, substantially all the Company’s long-term supply contracts with farms contain components that meet the definition of embedded leases within the scope of Topic 840, Leases . These arrangements convey to the Company the right to control implicitly identified property, plant and equipment as it takes substantially all the utility generated by these assets over the term of the arrangements at a variable price. As total purchase commitments contained in these arrangements are variable, the amounts attributable to the lease components are contingent rentals; there are no minimum lease payments associated with these long-term supply contracts. As the classification and timing of recognition of costs attributable to the eggs and embedded cost of the lease rentals are identical, the Company does not allocate the total purchase cost of eggs between the cost of the eggs and the embedded cost of the lease rentals or distinguish between them in its accounting records. The Company records the total purchase costs of eggs, which includes costs associated with the eggs and the corresponding costs of embedded lease rentals from the same arrangement, into inventory. These costs are expensed to cost of goods sold when the associated eggs are sold to customers. During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recognized total costs associated with its long-term supply contracts with farms of $22,624 and $11,851, respectively. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recognized total costs associated with its long-term supply contracts with farms of $42,689 and $23,535, respectively. Indemnification Agreements: In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and its executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. As of June 28, 2020, the Company has not incurred any material costs as a result of such indemnifications. Litigation: The Company is subject to various claims and contingencies which are in the scope of ordinary and routine litigation incidental to its business, including those related to regulation, litigation, business transactions, employee-related matters and taxes, among others. When the Company becomes aware of a claim or potential claim, the likelihood of any loss or exposure is assessed. If it is probable that a loss will result and the amount of the loss can be reasonably estimated, the Company records a liability for the loss. The liability recorded includes probable and estimable legal costs incurred to date and future legal costs to the point in the legal matter where the Company believes a conclusion to the matter will be reached. If the loss is not probable or the amount of the loss cannot be reasonably estimated, the Company discloses the claim if the likelihood of a potential loss is reasonably possible. In January 2019, Ovabrite Inc. (“Ovabrite”) settled claims made pursuant to a lawsuit in which Ovabrite was the defendant and a countersuit in which Ovabrite was the plaintiff and recorded a related gain of $1,200, which is included in other income in the unaudited condensed consolidated statements of operations.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 28, 2020
Related Party Transactions [Abstract]
Related Party Transactions	16. Related Party Transactions Guarantor Warrant: The Company’s executive chairman and former Chief Executive Officer (the “Guarantor”) guaranteed the Company’s obligations under a line of credit agreement that was entered into in 2015 and that matured and was repaid in full in 2017. The Company issued a warrant to purchase 196,800 shares of the Company’s common stock at an exercise price of $1.43 to the Guarantor in exchange for his guaranty. See Note 11, “Common Stock and Common Stock Warrant.” The warrant expired on the earlier of June 12, 2020 or the completion of the IPO. In June 2020, the Guarantor exercised the warrant to purchase 196,800 shares of the Company’s common stock resulting in net proceeds of approximately $282. Ovabrite, Inc.: Ovabrite is a related party because its founders are stockholders of the Company, with the majority stockholder in Ovabrite also serving as the Company’s executive chairman and member of the Company’s board of directors. Since Ovabrite’s incorporation in November 2016, the Company is deemed to have had a variable interest in Ovabrite, and Ovabrite is deemed to have been a VIE, of which the Company is the primary beneficiary. Accordingly, the Company has consolidated the results of Ovabrite since November 2016. All significant intercompany transactions between the Company and Ovabrite have been eliminated in consolidation. Note Receivable from Related Parties: In February 2019, the Company issued promissory notes in the aggregate amount of $4,000 to its founder and a former member of the board of directors that is currently a board observer, both of whom are also stockholders of the Company. The promissory notes bear monthly interest at LIBOR plus 2.0% and mature on the earlier of August 7, 2022 or the date of closing of a liquidity transaction which is defined as a merger, consolidation or sale of the Company’s assets or such time as the notes would be prohibited by the Sarbanes-Oxley Act (“Promissory Note Maturity Date”). All unpaid principal and accrued and unpaid interest are due on the Promissory Note Maturity Date. The borrower may prepay all or any portion of the promissory note at any time without premium or penalty. In November 2019, $3,200 of the promissory notes were repaid. As of June 28, 2020, the Company recorded $44 of interest income receivable in the unaudited condensed consolidated balance sheets. During the 13-week periods and 26-week periods ended June 28, 2020 and June 30, 2019, the Company did not receive any principal payments in connection with the promissory notes. During the 13-week periods ended June 28, 2020 and June 30, 2019, the Company recorded interest income of $8 and $43, respectively, in connection with the promissory notes. During the 26-week periods ended June 28, 2020 and June 30, 2019, the Company recorded interest income of $13 and $66, respectively, in connection with the promissory notes. In August 2020, the remaining $800 of the promissory notes were repaid. Manna Tree Partners: In March 2019 and April 2019, the Company issued and sold an aggregate of 2,815,012 shares of common stock at a purchase price of $5.3286 per share, for an aggregate purchase price of $15,000, to entities associated with Manna Tree Partners. The co-founder and chief operating officer of Manna Tree Partners is a member of the Company’s board of directors. Sandpebble Builders Preconstruction, Inc.: The Company utilizes Sandpebble Builders Preconstruction, Inc. (“Sandpebble”) for project management and related services associated with the construction and expansion of Egg Central Station. The owner and principal of Sandpebble is the father of an executive of the Company. In connection with the services described above, the Company paid Sandpebble $135 and $140 during the 13-week periods ended June 28, 2020 and June 30, 2019, respectively, and $358 and $237 during the 26-week periods ended June 28, 2020 and June 30, 2019, respectively. Amounts paid to Sandpebble are included in property, plant and equipment, net in the unaudited condensed consolidated balance sheets.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 28, 2020
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Management has evaluated all subsequent events through September 9, 2020, the date these unaudited condensed consolidated financial statements were available for issuance. In July 2020, the Company entered into the Seventh Amendment to the Credit Facility (“Seventh Amendment Loan”). The Seventh Amendment Loan amended the Credit Facility to modify various definitions and terms in anticipation of the Company’s IPO. On September 1, 2020 In July 2020, the Company’s board of directors adopted its 2020 Equity Incentive Plan (“2020 Incentive Plan”), which was subsequently approved by its stockholders and became effective on July 30, 2020. Initially, the maximum number of the Company’s common stock that may be issued under the 2020 Incentive Plan is 8,595,871 shares, which is the sum of (i) 3,000,000 new shares, plus (ii) the number of shares available for the grant of new awards under the 2013 Incentive Plan at July 30, 2020, plus (iii) the number of shares subject to outstanding stock awards granted under the 2013 Incentive Plan and that, following the July 30, 2020, terminate, expire or are otherwise forfeited, reacquired or withheld. The 2020 Incentive Plan provides that the number of shares reserved and available for issuance under the 2020 Incentive Plan will automatically increase each January 1, beginning on January 1, 2021 and ending on (and including) January 1, 2030, by an amount equal to 4% of the outstanding number of shares of common stock on the immediately preceding December 31 or such lesser number of shares as determined by the Company’s board of directors. P ursuant to the 2020 Incentive Plan, the Company’s board of directors granted stock options to purchase an aggregate of 820,979 shares of common stock to executive officers and employees with an exercise price of $22.00 per share. In July 2020, the Company’s board of directors adopted the 2020 Employee Stock Purchase Plan (“2020 ESPP”), which was subsequently approved by the Company’s stockholders and became effective on July 30, 2020. The 2020 ESPP authorizes the initial issuance of up to 900,000 shares of the Company’s common stock to eligible employees of the Company or, as designated by the Company’s board of directors, employees of a related company. The 2020 ESPP provides that the number of shares reserved and available for issuance under the 2020 ESPP will automatically increase each January 1, beginning on January 1, 2021 and ending on (and including) January 1, 2030, by an amount equal to the lesser of (i) 1% of the outstanding number of shares of common stock on the immediately preceding December 31 and (ii) 900,000, or such lesser number of shares as determined by the Company’s board of directors. The Company’s board of directors may from time to time grant or provide for the grant to eligible employees of options to purchase common stock under the 2020 ESPP during a specific offering period. As of June 28, 2020, no offerings had been approved.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2020
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates: The Company does not currently anticipate that the COVID-19 pandemic will have a material impact on the timelines for the Company’s product development and expansion efforts and the Company’s corporate development objectives. Because future COVID-19 developments are highly uncertain and cannot be predicted with confidence at this time, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the unaudited condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s unaudited condensed consolidated financial statements.
Deferred Offering Costs	Deferred Offering Costs: The Company capitalizes certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings until such financings are consummated. After consummation of an equity financing, these costs are recorded as a reduction of the proceeds received as a result of the financing. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses. As of June 28, 2020, the Company recorded deferred offering costs related to its initial public offering (“IPO”) of $2,338 in the accompanying unaudited condensed consolidated balance sheets and are included in prepaid expenses and other current assets.
Recently Adopted Accounting Pronouncements / Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements: The new accounting pronouncements recently adopted by the Company are described in the Company’s audited consolidated financial statements as of and for the fiscal year ended December 29, 2019, and the notes thereto, which are included in the Company’s Prospectus. Except as described below, there have been no new accounting pronouncements adopted by the Company during the 26-week period ended June 28, 2020. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting Recently Issued Accounting Pronouncements Not Yet Adopted: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) and also issued subsequent amendments to the initial guidance, ASU 2017-13, ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20, ASU 2019-01, ASU 2019-10, ASU 2020-02, and ASU 2020-05 (collectively, “Topic 842”). The guidance in Topic 842 supersedes the leasing guidance in Topic 840, Leases . Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the unaudited condensed consolidated statement of operations. An entity may adopt the guidance either (1) retrospectively to each prior reporting period presented in the financial statements with a cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented or (2) retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment. The Company expects to adopt Topic 842 retrospectively at the beginning of the period of adoption, December 27, 2021, through a cumulative-effect adjustment, and will not apply the new standard to comparative periods presented. The new standard provides a number of practical expedients. Upon adoption, the Company expects to elect all of the practical expedients available. The Company is currently evaluating the impact of its pending adoption of Topic 842 on its consolidated financial statements. It is anticipated that the primary impact of the adoption of Topic 842 will be the recording of a right-of-use asset and lease liability of similar amount on the Company’s unaudited condensed consolidated balance sheet. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Summary of Financial Liabilities Measured at Fair Value on a Recurring Basis	The following tables presents information about the Company’s financial liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 28, 2020, Using: Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration, current $ — $ — $ 159 $ 159 Contingent consideration, non-current — — 54 54 Total $ — $ — $ 213 $ 213 Fair Value Measurements as of December 29, 2019 Using: Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration, current $ — $ — $ 270 $ 270 Contingent consideration, non-current — — 382 382 Total $ — $ — $ 652 $ 652
Rollforward of Aggregate Fair Value of Contingent Consideration	The following table provides a rollforward of the aggregate fair value of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs: Balance as of December 29, 2019 $ 652 Payment of contingent consideration (47 ) Change in fair value (23 ) Balance as of March 29, 2020 $ 582 Payment of contingent consideration (42 ) Change in fair value (327 ) Balance as of June 28, 2020 $ 213
Schedule of Unobservable Inputs and Valuation of Contingent Consideration	The following table presents the unobservable inputs incorporated into the valuation of contingent consideration: Unobservable Input June 28, 2020 Dozens of eggs supplied 3,208,304 Royalty rate per dozen eggs $ 0.07 Estimated royalty income $ 225 Discount interval (in years) 1.9

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 28, 2020
Revenue From Contract With Customer [Abstract]
Summary of Net Revenue by Primary Product	The following table summarizes the Company’s net revenue by primary product for the periods presented: 13-Weeks Ended 26-Weeks Ended June 28, 2020 June 30, 2019 June 28, 2020 June 30, 2019 Net Revenue: Eggs $ 54,494 $ 30,012 $ 98,439 $ 60,151 Butter 4,847 2,273 8,481 5,079 Net Revenue $ 59,341 $ 32,285 $ 106,920 $ 65,230
Summary of Percentage of Net Revenue and Accounts Receivable, Net Due from Significant Customers	The percentage of net revenue from these significant customers during the 13-week periods and 26-week periods ended June 28, 2020 and June 30, 2019, and accounts receivable, net due from these significant customers as of June 28, 2020 and December 29, 2019, are as follows: Net Revenue for the 13-Weeks Ended June 28, 2020 Net Revenue for the 13-Weeks Ended June 30, 2019 Net Revenue for the 26-Weeks Ended June 28, 2020 Net Revenue for the 26-Weeks Ended June 30, 2019 Customer A 11% 34% 22% 35% Customer B 14% 13% 14% 13% Customer C 13% 11% 12% 11% Customer D 21% * 12% * * Revenue was less than 10%. Accounts Receivable, Net as of June 28, 2020 Accounts Receivable, Net as of December 29, 2019 Customer A * 25% Customer B 20% 21% Customer C * * Customer D 22% * * Accounts receivable was less than 10%.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 28, 2020
Receivables [Abstract]
Schedule of Changes in Allowance for Doubtful Accounts Receivable	Changes in the allowance for doubtful accounts were as follows: Allowance for doubtful accounts As of December 29, 2019 $ (304 ) Provisions Charged to Operating Results — Account Write-off and Recoveries 116 As of March 29, 2020 (188 ) Provisions Charged to Operating Results — Account Write-off and Recoveries 34 As of June 28, 2020 $ (154 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 28, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Eggs and inventory in transit $ 5,939 $ 8,811 Butter 1,069 646 Packaging 1,575 1,949 Ghee 606 792 Egg Bites 77 — Other 656 749 $ 9,922 $ 12,947
Schedule of Changes in Excess and Obsolete Inventory Reserve	Changes in the excess and obsolete inventory reserve for the period presented, were as follows: Excess and obsolete inventory reserve As of December 29, 2019 $ (189 ) Provisions Charged to Operating Results (73 ) Account Write-off — As of March 29, 2020 (262 ) Provisions Charged to Operating Results (92 ) Account Write-off — As of June 28, 2020 $ (354 )

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 28, 2020
Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Land $ 525 $ 525 Buildings and improvements 14,266 14,241 Vehicles 502 454 Machinery and equipment 8,493 6,297 Leasehold improvements 486 483 Furniture and fixtures 447 422 Construction in progress 6,418 3,396 31,137 25,818 Less: Accumulated depreciation and amortization (4,314 ) (3,360 ) Property, plant and equipment, net $ 26,823 $ 22,458

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 28, 2020
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of the periods presented: June 28, 2020 December 29, 2019 Accrued promotions and expired product chargebacks $ 1,927 $ 2,038 Accrued grower payments 16 1,649 Accrued employee related costs 2,428 1,132 Accrued offering costs 1,190 385 Accrued distribution fees and freight 345 624 Accrued accounting and legal fees 73 86 Accrued marketing and commissions 348 887 Property, plant and equipment — 964 Other 1,493 843 Accrued liabilities $ 7,820 $ 8,608

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt, Net of Current Portion	As of the periods presented, long-term debt, net of current portion, consisted of the following: June 28, 2020 December 29, 2019 Term Loan $ 7,910 $ 3,245 Revolving Line of Credit — 1,325 Equipment Loan 1,917 554 Less: current portion of long-term debt (1,460 ) (2,160 ) Less: unamortized debt issuance costs (52 ) (68 ) Long-term debt, net of current portion $ 8,315 $ 2,896
Summary of Future Principal Payments for Long-Term Debt	Future principal payments for long-term debt as of June 28, 2020 are as follows: For 26-Week Period 2020 (remaining twenty-six weeks) $ 664 2021 1,731 2022 7,432 Total $ 9,827

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Summary of Preferred Stock	As of the dates presented, Preferred Stock consisted of the following: June 28, 2020 Preferred Stock Designated Preferred Stock Issued and Outstanding Carrying Value Liquidation Preference Common Stock Issuable Upon Conversion Series B preferred stock 2,728,018 2,728,018 $ 4,377 $ 9,005 2,728,018 Series C preferred stock 2,464,466 2,464,466 7,639 12,002 2,464,466 Series D preferred stock 3,000,392 3,000,392 11,020 19,429 3,000,392 Total Preferred Stock 8,192,876 8,192,876 $ 23,036 $ 40,436 8,192,876 December 29, 2019 Preferred Stock Designated Preferred Stock Issued and Outstanding Carrying Value Liquidation Preference Common Stock Issuable Upon Conversion Series B preferred stock 2,728,018 2,728,018 $ 4,377 $ 9,005 2,728,018 Series C preferred stock 2,464,466 2,464,466 7,639 12,002 2,464,466 Series D preferred stock 3,000,392 3,000,392 11,020 19,429 3,000,392 Total Preferred Stock 8,192,876 8,192,876 $ 23,036 $ 40,436 8,192,876

Common Stock and Common Stock_2

Common Stock and Common Stock Warrant (Tables)	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Schedule of Reserved Shares of Common Stock for Issuance	As of each balance sheet date, the Company had reserved shares of common stock for issuance in connection with the following: June 28, 2020 December 29, 2019 Conversion of outstanding shares of redeemable convertible preferred stock 8,192,876 8,192,876 Warrants to purchase common stock — 196,800 Options to purchase common stock 4,902,229 5,413,064 Shares available for grant under the 2013 Incentive Plan 694,126 240,079 Total 13,789,231 14,042,819

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 28, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity since December 29, 2019: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of December 29, 2019 5,413,064 $ 3.73 7.3 $ 60,059 Granted 40,588 $ 12.43 Exercised (56,788 ) $ 2.99 $ 751 Cancelled (494,635 ) $ 5.29 Outstanding as of June 28, 2020 4,902,229 $ 3.66 6.6 $ 61,561 Options exercisable as of June 28, 2020 2,478,270 $ 2.08 4.5 $ 35,027 Options vested and expected to vest as of June 28, 2020 4,902,229 $ 3.66 6.6 $ 61,561
Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine the Grant-Date Fair Value of Stock Options Granted	The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of the stock options granted by the Company during the 26-week period ended June 28, 2020: Expected term (in years) 5.6 Expected stock price volatility 41.18% Risk-free interest rate 0.41% Expected dividend yield 0.00%

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Per Share	Basic and diluted net income per share attributable to Vital Farms, Inc. common stockholders were calculated as follows: 13-Weeks Ended June 28, 2020 June 30, 2019 Numerator: Net income $ 5,936 $ 2,788 Less: Net loss attributable to noncontrolling interests (28 ) (11 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 5,964 $ 2,799 Denominator: Weighted average common shares outstanding — basic 26,007,459 26,440,796 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,580,960 1,463,816 Effect of potentially dilutive common stock warrants 115,447 144,000 Effect of potentially dilutive redeemable convertible preferred stock 8,192,876 8,192,876 Weighted average common shares outstanding — diluted 37,896,742 36,241,488 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.23 $ 0.11 Diluted $ 0.16 $ 0.08 26-Weeks Ended June 28, 2020 June 30, 2019 Numerator: Net income $ 7,870 $ 6,813 Less: Net (loss) income attributable to noncontrolling interests (39 ) 956 Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 7,909 $ 5,857 Denominator: Weighted average common shares outstanding — basic 25,974,873 25,426,563 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,444,989 1,304,557 Effect of potentially dilutive common stock warrants 142,937 144,000 Effect of potentially dilutive redeemable convertible preferred stock 8,192,876 8,192,876 Weighted average common shares outstanding — diluted 37,755,675 35,067,996 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.30 $ 0.23 Diluted $ 0.21 $ 0.17

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 28, 2020
Commitments And Contingencies Disclosure [Abstract]
Summary of Future Minimum Lease Payments Under Noncancelable Operating Leases	As of June 28, 2020, future minimum lease payments under noncancelable operating leases are as follows: 2020 (remaining twenty-six weeks) $ 734 2021 1,989 2022 1,362 2023 1,121 2024 329 Thereafter 454 Total $ 5,989

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - Additional Information (Details)	Jul. 22, 2020	Aug. 31, 2020USD ($)$ / sharesshares	Jun. 28, 2020shares	Aug. 28, 2020shares	Dec. 29, 2019shares	Apr. 30, 2019$ / shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation			Jun. 6, 2013
Share price | $ / shares						$ 5.0087
Common stock, shares issued			31,683,486		31,429,898
Shares issued upon conversion of preferred stock			8,192,876		8,192,876
Subsequent Event
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Forward stock split	2.46-for-1
Forward stock split conversion ratio	2.46
Preferred stock, shares outstanding				0
Subsequent Event | IPO
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Shares issued		10,699,573
Share price | $ / shares		$ 22
Common stock, shares issued		5,040,323
Additional common stock shares issued		5,659,250
Gross proceeds from sale of common stock | $		$ 110,887
Shares issued upon conversion of preferred stock		8,192,876		8,192,876
Preferred stock, shares outstanding		0
Subsequent Event | IPO | Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Additional common stock shares issued		1,395,596

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	Jun. 28, 2020USD ($)
ASU 2018-13
Summary of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Dec. 30, 2019
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
ASU 2020-04
Summary of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Mar. 12, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
Prepaid Expenses and Other Current Assets | IPO
Summary of Significant Accounting Policies [Line Items]
Deferred offering costs	$ 2,338

Fair Value - Summary of Financi

Fair Value - Summary of Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Contingent consideration, current	$ 159	$ 270
Contingent consideration, non-current	54	382
Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Contingent consideration, current	159	270
Contingent consideration, non-current	54	382
Total	213	652
Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Contingent consideration, current	159	270
Contingent consideration, non-current	54	382
Total	$ 213	$ 652

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair value, liabilities, level 1 to level 2 transfers	$ 0		$ 0	$ 0	$ 0
Fair value, liabilities, level 2 to level 1 transfers	0		0	0	0
Fair value, liabilities, transfers into level 3				0	0
Fair value, liabilities, transfers out of level 3				0	0
Unrealized (gain) loss on fair value of contingent consideration	$ (327,000)	$ (23,000)	$ 16,000	$ (350,000)	$ 38,000

Fair Value - Rollforward of Agg

Fair Value - Rollforward of Aggregate Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Balance	$ 582	$ 652		$ 652
Payment of contingent consideration	(42)	(47)
Change in fair value	(327)	(23)	$ 16	(350)	$ 38
Balance	$ 213	$ 582		$ 213

Fair Value - Schedule of Unobse

Fair Value - Schedule of Unobservable Inputs and Valuation of Contingent Consideration (Details) - Level 3 $ in Thousands	6 Months Ended
	Jun. 28, 2020USD ($)USD_per_DozenDozen
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Dozens of eggs supplied | Dozen	3,208,304
Royalty rate per dozen eggs | USD_per_Dozen	0.07
Estimated royalty income | $	$ 225
Discount interval (in years)	1 year 10 months 24 days

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Revenue by Primary Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Net revenue	$ 59,341	$ 32,285	$ 106,920	$ 65,230
Eggs
Disaggregation Of Revenue [Line Items]
Net revenue	54,494	30,012	98,439	60,151
Butter
Disaggregation Of Revenue [Line Items]
Net revenue	$ 4,847	$ 2,273	$ 8,481	$ 5,079

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Net revenue	$ 59,341	$ 32,285	$ 106,920	$ 65,230
Revenue resulting from reduction of sales promotion incentive related to prior year sales	624		624
Pasture-raised Shell Eggs
Disaggregation Of Revenue [Line Items]
Net revenue	53,912	29,639	97,352	59,380
Liquid Whole Eggs
Disaggregation Of Revenue [Line Items]
Net revenue	252	0	401	0
Pasture-raised Hard Boiled Eggs
Disaggregation Of Revenue [Line Items]
Net revenue	330	373	686	771
Pasture-raised Butter
Disaggregation Of Revenue [Line Items]
Net revenue	4,557	2,237	7,937	4,980
Ghee
Disaggregation Of Revenue [Line Items]
Net revenue	$ 290	$ 36	$ 544	$ 99

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Percentage of Net Revenue from Significant Customers (Details) - Customer Concentration Risk - Net Revenue	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Customer A
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	11.00%	34.00%	22.00%	35.00%
Customer B
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	14.00%	13.00%	14.00%	13.00%
Customer C
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	13.00%	11.00%	12.00%	11.00%
Customer D
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	21.00%		12.00%

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Percentage of Accounts Receivable, Net Due from Significant Customers (Details) - Customer Concentration Risk - Accounts Receivable	6 Months Ended	12 Months Ended
	Jun. 28, 2020	Dec. 29, 2019
Customer A
Disaggregation Of Revenue [Line Items]
Concentration risk percentage		25.00%
Customer B
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	20.00%	21.00%
Customer D
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	22.00%

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Mar. 29, 2020	Dec. 29, 2019
Receivables [Abstract]
Accounts receivable, net	$ 16,016		$ 16,108
Allowance for doubtful accounts	$ 154	$ 188	$ 304

Accounts Receivable - Summary o

Accounts Receivable - Summary of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 28, 2020	Mar. 29, 2020
Receivables [Abstract]
Allowance for doubtful accounts, Beginning balance	$ (188)	$ (304)
Account Write-off and Recoveries	34	116
Allowance for doubtful accounts, Ending balance	$ (154)	$ (188)

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Inventory [Line Items]
Inventories	$ 9,922	$ 12,947
Eggs and Inventory in Transit
Inventory [Line Items]
Inventories	5,939	8,811
Butter
Inventory [Line Items]
Inventories	1,069	646
Packaging
Inventory [Line Items]
Inventories	1,575	1,949
Ghee
Inventory [Line Items]
Inventories	606	792
Egg Bites
Inventory [Line Items]
Inventories	77
Other
Inventory [Line Items]
Inventories	$ 656	$ 749

Inventories - Schedule of Chang

Inventories - Schedule of Changes in Excess and Obsolete Inventory Reserve (Details) - Excess and Obsolete Inventory Reserve - USD ($) $ in Thousands	3 Months Ended
	Jun. 28, 2020	Mar. 29, 2020
Change In Accounting Estimate [Line Items]
Beginning balance	$ (262)	$ (189)
Provisions Charged to Operating Results	(92)	(73)
Ending balance	$ (354)	$ (262)

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Inventory Disclosure [Abstract]
Laying-hen costs amortized to cost of goods sold	$ 125	$ 139	$ 240	$ 278

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 31,137	$ 25,818
Less: Accumulated depreciation and amortization	(4,314)	(3,360)
Property, plant and equipment, net	26,823	22,458
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	525	525
Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	14,266	14,241
Vehicles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	502	454
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	8,493	6,297
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	486	483
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	447	422
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 6,418	$ 3,396

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Property Plant And Equipment [Line Items]
Depreciation and amortization of property, plant and equipment	$ 498	$ 370	$ 954	$ 726
Machinery and Equipment
Property Plant And Equipment [Line Items]
Capital leases included in property, plant and equipment	$ 1,347		$ 1,347		$ 1,505

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Payables And Accruals [Abstract]
Accrued promotions and expired product chargebacks	$ 1,927	$ 2,038
Accrued grower payments	16	1,649
Accrued employee related costs	2,428	1,132
Accrued offering costs	1,190	385
Accrued distribution fees and freight	345	624
Accrued accounting and legal fees	73	86
Accrued marketing and commissions	348	887
Property, plant and equipment		964
Other	1,493	843
Accrued liabilities	$ 7,820	$ 8,608

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)

Feb. 28, 2020

Jun. 30, 2020

Apr. 30, 2020

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

May 31, 2020

Feb. 29, 2020

Dec. 29, 2019

Apr. 30, 2018

Apr. 29, 2018

Oct. 31, 2017

Debt Instrument [Line Items]

Interest expense

$ 97,000

$ 79,000

$ 255,000

$ 165,000

Amortization of debt issuance costs

7,000

$ 10,000

16,000

$ 20,000

Proceeds from Paycheck Protection Program loan

2,593,000

Repayment of Paycheck Protection Program loan

$ 2,593,000

CARES Act

Debt Instrument [Line Items]

Proceeds from Paycheck Protection Program loan

$ 2,593,000

Number of times of average monthly payroll expense as loan amount

2.5 times

Repayment of Paycheck Protection Program loan

$ 2,593,000

PNC Bank, National Association | Revolving Line of Credit

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 10,000,000

PNC Bank, National Association | Revolving Line of Credit | Fifth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 15,000,000

PNC Bank, National Association | Revolving Line of Credit | Sixth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 15,000,000

$ 15,000,000

Line of credit facility interest rate at period end

4.50%

4.50%

5.75%

PNC Bank, National Association | Revolving Line of Credit | Sixth Amendment Loan | LIBOR

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

2.25%

PNC Bank, National Association | Revolving Line of Credit | Sixth Amendment Loan | Alternate Base Rate

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

1.25%

PNC Bank, National Association | Term Loan

Debt Instrument [Line Items]

Debt instrument face amount

4,700,000

PNC Bank, National Association | Term Loan | Sixth Amendment Loan

Debt Instrument [Line Items]

Debt instrument maturity date

Jul. 31, 2027

Line of credit facility additional borrowing capacity

$ 5,000,000

Proceeds from issuance of secured debt

7,910,000

Debt instrument payment terms

Borrowings under the amended and restated Term Loan are repayable in monthly installments of principal and interest, followed by a balloon payment of all unpaid principal and accrued and unpaid interest due in July 2027.

Debt instrument, interest rate

3.53%

3.53%

4.64%

PNC Bank, National Association | Term Loan | Sixth Amendment Loan | LIBOR

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

3.25%

Debt instrument basis points

1.00%

PNC Bank, National Association | Term Loan | Sixth Amendment Loan | Federal Funds Open Rate

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

2.25%

Debt instrument basis points

0.50%

PNC Bank, National Association | Equipment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 1,500,000

PNC Bank, National Association | Equipment Loan | First Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 750,000

$ 1,500,000

PNC Bank, National Association | Equipment Loan | Fourth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 3,000,000

Debt instrument borrowing period

2019-10

2021-10

PNC Bank, National Association | Equipment Loan | Sixth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 3,000,000

$ 3,000,000

Debt instrument maturity date

Oct. 31, 2022

Line of credit facility interest rate at period end

4.76%

4.76%

4.44%

Debt instrument frequency of periodic payment

36 monthly

PNC Bank, National Association | Equipment Loan | Sixth Amendment Loan | LIBOR

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

3.00%

PNC Bank, National Association | Equipment Loan | Sixth Amendment Loan | Alternate Base Rate

Debt Instrument [Line Items]

Debt instrument basis spread on variable rate

2.00%

PNC Bank, National Association | Credit Facility

Debt Instrument [Line Items]

Debt instrument maturity date

Oct. 31, 2022

Line of credit facility covenant terms

The Credit Facility is secured by all of the Company’s assets and requires the Company to maintain two financial covenants: a fixed charge coverage ratio and a leverage ratio. The Credit Facility also contains various covenants relating to limitations on indebtedness, dividends, investments and acquisitions, mergers, consolidations, the sale of properties and liens and capital expenditures. In addition, the Credit Facility imposes limitations on the Company’s ability to pay dividends or distributions on any equity interest, declare any stock splits or reclassifications of its stock, or apply any of its funds, property or assets to purchase, redeem or retire any of its equity interests or to purchase, redeem or retire any of its options to purchase any of its equity interests.

Line of credit facility covenant compliance

As of June 28, 2020, the Company was in compliance with all covenants under the Credit Facility.

PNC Bank, National Association | Credit Facility | Fourth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 17,700,000

PNC Bank, National Association | Credit Facility | Fifth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 22,700,000

PNC Bank, National Association | Credit Facility | Sixth Amendment Loan

Debt Instrument [Line Items]

Line of credit facility maximum borrowing capacity

$ 25,910,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt, Net of Current Portion (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Debt Instrument [Line Items]
Less: current portion of long-term debt	$ (1,460)	$ (2,160)
Less: unamortized debt issuance costs	(52)	(68)
Long-term debt, net of current portion	8,315	2,896
Revolving Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross		1,325
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	7,910	3,245
Equipment Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,917	$ 554

Long-Term Debt - Summary of Fut

Long-Term Debt - Summary of Future Principal Payments for Long-Term Debt (Details) $ in Thousands	Jun. 28, 2020USD ($)
Debt Disclosure [Abstract]
2020 (remaining twenty-six weeks)	$ 664
2021	1,731
2022	7,432
Total	$ 9,827

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Additional Information (Details) - $ / shares	1 Months Ended	6 Months Ended
	Aug. 28, 2020	Jun. 28, 2020	Aug. 31, 2020	Dec. 29, 2019
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		8,192,876		8,192,876
Redeemable convertible preferred stock (Series B, Series C and Series D), par value		$ 0.0001		$ 0.0001
Preferred stock convertible into common stock conversion ratio		100.00%
Preferred stock, redemption terms		The holders of the Company’s Preferred Stock have no voluntary rights to redeem shares. A liquidation, dissolution or winding up of the Company would constitute a redemption event, which may be outside of the Company’s control.
Preferred stock, voluntary rights to redeem shares		no
Shares issued upon conversion of preferred stock		8,192,876		8,192,876
Subsequent Event
Class Of Stock [Line Items]
Preferred stock, shares outstanding	0
Subsequent Event | IPO
Class Of Stock [Line Items]
Preferred stock convertible into common stock conversion ratio	100.00%
Shares issued upon conversion of preferred stock	8,192,876		8,192,876
Preferred stock, shares outstanding			0
Minimum
Class Of Stock [Line Items]
Percentage of vote or written consent of holders of outstanding shares of preferred stock for conversion		66.66%
Series B Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		2,728,018		2,728,018
Series C Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		2,464,466		2,464,466
Series D Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		3,000,392		3,000,392
Series D Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		3,000,392		3,000,392
Liquidation preference, per share		$ 6.48
Shares issued upon conversion of preferred stock		3,000,392		3,000,392
Series B Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		2,728,018		2,728,018
Liquidation preference, per share		$ 3.30
Shares issued upon conversion of preferred stock		2,728,018		2,728,018
Series C Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock (Series B, Series C and Series D), shares authorized		2,464,466		2,464,466
Liquidation preference, per share		$ 4.87
Shares issued upon conversion of preferred stock		2,464,466		2,464,466

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock - Summary of Preferred Stock (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Class Of Stock [Line Items]
Preferred Stock Designated	8,192,876	8,192,876
Preferred Stock Issued	8,192,876	8,192,876
Preferred Stock Outstanding	8,192,876	8,192,876
Carrying Value	$ 23,036	$ 23,036
Liquidation Preference	$ 40,436	$ 40,436
Common Stock Issuable Upon Conversion	8,192,876	8,192,876
Series B Preferred Stock
Class Of Stock [Line Items]
Preferred Stock Designated	2,728,018	2,728,018
Preferred Stock Issued	2,728,018	2,728,018
Preferred Stock Outstanding	2,728,018	2,728,018
Carrying Value	$ 4,377	$ 4,377
Liquidation Preference	$ 9,005	$ 9,005
Common Stock Issuable Upon Conversion	2,728,018	2,728,018
Series C Preferred Stock
Class Of Stock [Line Items]
Preferred Stock Designated	2,464,466	2,464,466
Preferred Stock Issued	2,464,466	2,464,466
Preferred Stock Outstanding	2,464,466	2,464,466
Carrying Value	$ 7,639	$ 7,639
Liquidation Preference	$ 12,002	$ 12,002
Common Stock Issuable Upon Conversion	2,464,466	2,464,466
Series D Preferred Stock
Class Of Stock [Line Items]
Preferred Stock Designated	3,000,392	3,000,392
Preferred Stock Issued	3,000,392	3,000,392
Preferred Stock Outstanding	3,000,392	3,000,392
Carrying Value	$ 11,020	$ 11,020
Liquidation Preference	$ 19,429	$ 19,429
Common Stock Issuable Upon Conversion	3,000,392	3,000,392

Common Stock and Common Stock_3

Common Stock and Common Stock Warrant - Additional Information (Details) - USD ($)	Jun. 09, 2020	Apr. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Class Of Stock [Line Items]
Common stock, shares authorized			40,348,565		40,348,565
Common stock, par value			$ 0.0001		$ 0.0001
Shares purchase price per share		$ 5.0087
Proceeds from issuance of common stock				$ 15,000,000
Stock issuance cost				903,000
Number of common stock shares repurchase during the period		2,852,770
Proceed from repurchase of common stock		$ 14,289,000		$ 14,289,000
Common stock voting rights			Each share of the Company’s common stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders.
Common stock dividend declared or paid			$ 0
Proceeds from exercise of warrant			$ 282,000
Guarantor
Class Of Stock [Line Items]
Warrants issued to purchase of common stock shares	196,800
Warrant exercise price per share	$ 1.43
Proceeds from exercise of warrant	$ 282,000
Manna Tree Partners
Class Of Stock [Line Items]
Number of common stock shares issued and sold during the period		2,815,012
Shares purchase price per share		$ 5.3286
Proceeds from issuance of common stock		$ 14,097,000
Stock issuance cost		$ 903,000

Common Stock and Common Stock_4

Common Stock and Common Stock Warrant - Schedule of Reserved Shares of Common Stock for Issuance (Details) - shares	Jun. 28, 2020	Dec. 29, 2019
Class Of Stock [Line Items]
Total	13,789,231	14,042,819
Options to Purchase Common Stock
Class Of Stock [Line Items]
Total	4,902,229	5,413,064
Shares Available for Grant Under the 2013 Incentive Plan
Class Of Stock [Line Items]
Total	694,126	240,079
Warrants to Purchase Common Stock
Class Of Stock [Line Items]
Total		196,800
Conversion of Outstanding Shares of Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Total	8,192,876	8,192,876

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of shares vested	$ 40		$ 312
Stock-based compensation expense	296	$ 143	744	$ 286
Unrecognized stock-based compensation expense	$ 4,700		$ 4,700
Expected weighted-average period of recognition			1 year 10 months 24 days
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grants	694,126		694,126

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 28, 2020USD ($)$ / sharesshares	Dec. 29, 2019USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning balance | shares	5,413,064
Number of Options, Granted | shares	40,588
Number of Options, Exercised | shares	(56,788)
Number of Options, Cancelled | shares	(494,635)
Number of Options, Ending balance | shares	4,902,229	5,413,064
Number of Options, Options exercisable as of June 28, 2020 | shares	2,478,270
Number of Options, Options vested and expected to vest as of June 28, 2020 | shares	4,902,229
Weighted-Average Exercise Price, Beginning balance | $ / shares	$ 3.73
Weighted-Average Exercise Price, Options Granted | $ / shares	12.43
Weighted-Average Exercise Price, Options Exercised | $ / shares	2.99
Weighted-Average Exercise Price, Options Cancelled | $ / shares	5.29
Weighted-Average Exercise Price, Ending balance | $ / shares	3.66	$ 3.73
Weighted-Average Exercise Price, Options exercisable as of June 28, 2020 | $ / shares	2.08
Weighted-Average Exercise Price, Options vested and expected to vest as of June 28, 2020 | $ / shares	$ 3.66
Weighted Average Remaining Contractual Life (Years), Balance	6 years 7 months 6 days	7 years 3 months 18 days
Weighted Average Remaining Contractual Life (Years), Options exercisable as of June 28, 2020	4 years 6 months
Weighted Average Remaining Contractual Life (Years), Options vested and expected to vest as of June 28, 2020	6 years 7 months 6 days
Aggregate Intrinsic Value | $	$ 61,561	$ 60,059
Aggregate Intrinsic Value, Exercised | $	751
Aggregate Intrinsic Value, Options exercisable as of June 28, 2020 | $	35,027
Aggregate Intrinsic Value, Options vested and expected to vest as of June 28, 2020 | $	$ 61,561

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine the Grant-Date Fair Value of Stock Options Granted (Details)	6 Months Ended
	Jun. 28, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected term (in years)	5 years 7 months 6 days
Expected stock price volatility	41.18%
Risk-free interest rate	0.41%
Expected dividend yield	0.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	32.00%	28.00%	32.00%	27.00%
Federal statutory tax rate			21.00%	21.00%

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 28, 2020	Jun. 30, 2019
Numerator:
Net income	$ 5,936		$ 2,788		$ 7,870	$ 6,813
Less: Net (loss) income attributable to noncontrolling interests	(28)	$ (11)	(11)	$ 967	(39)	956
Net income attributable to Vital Farms, Inc. common stockholders	$ 5,964	$ 1,945	$ 2,799	$ 3,058	$ 7,909	$ 5,857
Weighted average common shares outstanding:
Weighted average common shares outstanding — basic	26,007,459		26,440,796		25,974,873	25,426,563
Weighted average effect of potentially dilutive securities:
Effect of potentially dilutive stock options	3,580,960		1,463,816		3,444,989	1,304,557
Effect of potentially dilutive common stock warrants	115,447		144,000		142,937	144,000
Effect of potentially dilutive redeemable convertible preferred stock	8,192,876		8,192,876		8,192,876	8,192,876
Weighted average common shares outstanding — diluted	37,896,742		36,241,488		37,755,675	35,067,996
Net income per share attributable to Vital Farms, Inc. stockholders:
Basic:	$ 0.23		$ 0.11		$ 0.30	$ 0.23
Diluted:	$ 0.16		$ 0.08		$ 0.21	$ 0.17

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	118,584	399,701	116,764	1,073,637

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2019USD ($)	Jun. 28, 2020USD ($)ft²	Jun. 30, 2019USD ($)	Jun. 28, 2020USD ($)ft²	Jun. 30, 2019USD ($)
Commitments And Contingencies [Line Items]
Rent expense		$ 107	$ 83	$ 222	$ 162
Long-term supply contracts costs		$ 22,624	$ 11,851	$ 42,689	$ 23,535
Other Income
Commitments And Contingencies [Line Items]
Gain on lawsuit settlement	$ 1,200
Austin, Texas
Commitments And Contingencies [Line Items]
Area of office space leased | ft²		9,082		9,082
Lease expiration period				2026-04
Lease options to extend period				5 years
Base rent charges				$ 19
Webb City, Missouri
Commitments And Contingencies [Line Items]
Area of office space leased | ft²		5,000		5,000
Base rent charges				$ 55
Operating lease expiration date				Dec. 31, 2021
Springfield, Missouri
Commitments And Contingencies [Line Items]
Area of office space leased | ft²		3,750		3,750
Base rent charges				$ 85
Operating lease expiration date				Sep. 30, 2023

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Future Minimum Lease Payments Under Noncancelable Operating Leases (Details) $ in Thousands	Jun. 28, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020 (remaining twenty-six weeks)	$ 734
2021	1,989
2022	1,362
2023	1,121
2024	329
Thereafter	454
Total	$ 5,989

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 09, 2020	Aug. 31, 2020	Nov. 30, 2019	Feb. 28, 2019	Apr. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 28, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Proceeds from exercise of warrant									$ 282
Interest income receivable						$ 44			44
Interest income with promissory notes						8	$ 43		13	$ 66
Shares purchase price per share					$ 5.0087
Number of common stock issued and sold during the period							7,094	$ 7,003
Subsequent Event
Related Party Transaction [Line Items]
Promissory notes repaid		$ 800
Manna Tree Partners
Related Party Transaction [Line Items]
Number of common stock shares issued and sold during the period					2,815,012
Shares purchase price per share					$ 5.3286
Number of common stock issued and sold during the period					$ 15,000
Sandpebble Builders Preconstruction, Inc
Related Party Transaction [Line Items]
Paid to related party						$ 135	$ 140		$ 358	$ 237
Note Receivable | Founder and Former Board of Directors
Related Party Transaction [Line Items]
Promissory notes issued				$ 4,000
Promissory maturity date				Aug. 7, 2022
Promissory notes repaid			$ 3,200
LIBOR | Note Receivable | Founder and Former Board of Directors
Related Party Transaction [Line Items]
Promissory notes interest rate				2.00%
Guarantor
Related Party Transaction [Line Items]
Warrants issued to purchase of common stock shares	196,800
Warrant exercise price per share	$ 1.43
Proceeds from exercise of warrant	$ 282

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares	1 Months Ended	6 Months Ended
	Jul. 31, 2020	Jun. 28, 2020
Subsequent Event [Line Items]
Stock options granted to purchase common stock		40,588
Exercise price of stock options granted		$ 12.43
Subsequent Event | 2020 Equity Incentive Plan
Subsequent Event [Line Items]
Share-based compensation award, description	Initially, the maximum number of the Company’s common stock that may be issued under the 2020 Incentive Plan is 8,595,871 shares, which is the sum of (i) 3,000,000 new shares, plus (ii) the number of shares available for the grant of new awards under the 2013 Incentive Plan at July 30, 2020, plus (iii) the number of shares subject to outstanding stock awards granted under the 2013 Incentive Plan and that, following the July 30, 2020, terminate, expire or are otherwise forfeited, reacquired or withheld. The 2020 Incentive Plan provides that the number of shares reserved and available for issuance under the 2020 Incentive Plan will automatically increase each January 1, beginning on January 1, 2021 and ending on (and including) January 1, 2030, by an amount equal to 4% of the outstanding number of shares of common stock on the immediately preceding December 31 or such lesser number of shares as determined by the Company’s board of directors.
Subsequent Event | 2020 Equity Incentive Plan | Common Stock
Subsequent Event [Line Items]
Maximum number of shares issuable	8,595,871
Number of new shares issued	3,000,000
Percentage of outstanding common stock	4.00%
Subsequent Event | 2020 Equity Incentive Plan | Common Stock | Executive Officers and Employees
Subsequent Event [Line Items]
Stock options granted to purchase common stock	820,979
Exercise price of stock options granted	$ 22
Subsequent Event | 2020 Employee Stock Purchase Plan
Subsequent Event [Line Items]
Share-based compensation award, description	The 2020 ESPP authorizes the initial issuance of up to 900,000 shares of the Company’s common stock to eligible employees of the Company or, as designated by the Company’s board of directors, employees of a related company. The 2020 ESPP provides that the number of shares reserved and available for issuance under the 2020 ESPP will automatically increase each January 1, beginning on January 1, 2021 and ending on (and including) January 1, 2030, by an amount equal to the lesser of (i) 1% of the outstanding number of shares of common stock on the immediately preceding December 31 and (ii) 900,000, or such lesser number of shares as determined by the Company’s board of directors. The Company’s board of directors may from time to time grant or provide for the grant to eligible employees of options to purchase common stock under the 2020 ESPP during a specific offering period.
Subsequent Event | 2020 Employee Stock Purchase Plan | Common Stock
Subsequent Event [Line Items]
Maximum number of shares issuable	900,000
Percentage of outstanding common stock	1.00%