Vital Farms (VITL) 10-Q 10 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 27, 2021	Aug. 04, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-26
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		40,171,156

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Current assets:
Cash and cash equivalents	$ 37,349	$ 29,544
Investment securities	68,988	68,357
Accounts receivable, net	18,137	20,934
Inventories	13,719	12,902
Income taxes receivable	1,368	1,554
Prepaid expenses and other current assets	1,913	3,965
Total current assets	141,474	137,256
Property, plant and equipment, net	36,330	30,118
Goodwill	3,858	3,858
Deposits	46	142
Total assets	181,708	171,374
Current liabilities:
Accounts payable	15,902	15,489
Accrued liabilities	10,453	9,845
Lease obligation, current	482	471
Contingent consideration, current	58	109
Total current liabilities	26,895	25,914
Lease obligation, net of current portion	83	327
Contingent consideration, non-current		18
Deferred tax liabilities, net	1,340	2,537
Other liability, non-current	192	192
Total liabilities	28,510	28,988
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, $0.0001 par value per share, 310,000,000 shares authorized as of June 27, 2021 (unaudited) and December 27, 2020; 40,153,228 and 39,444,040 shares issued and outstanding as of June 27, 2021 (unaudited) and December 27, 2020, respectively	5	5
Treasury stock, at cost, 5,494,918 common shares as of June 27, 2021 (unaudited) and December 27, 2020	(16,276)	(16,276)
Additional paid-in capital	147,808	144,311
Retained earnings	21,437	14,039
Accumulated other comprehensive loss	(79)	(31)
Total stockholders’ equity attributable to Vital Farms, Inc. stockholders	152,895	142,048
Noncontrolling interests	128	163
Total stockholders’ equity	153,023	142,211
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity	181,708	171,374
Variable Interest Entity, Primary Beneficiary
Current liabilities:
Redeemable noncontrolling interest	$ 175	$ 175

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 27, 2021	Dec. 27, 2020
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	310,000,000	310,000,000
Common stock, shares issued	40,153,228	39,444,040
Common stock, shares outstanding	40,153,228	39,444,040
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. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Income Statement [Abstract]
Net revenue	$ 60,324	$ 59,341	$ 118,869	$ 106,920
Cost of goods sold	38,391	36,643	75,606	68,367
Gross profit	21,933	22,698	43,263	38,553
Operating expenses:
Selling, general and administrative	13,544	9,970	26,726	19,648
Shipping and distribution	5,374	3,666	10,437	6,940
Total operating expenses	18,918	13,636	37,163	26,588
Income from operations	3,015	9,062	6,100	11,965
Other income (expense), net:
Interest expense	(13)	(97)	(31)	(255)
Other income (expense), net	186	(181)	297	(161)
Total other income (expense), net	173	(278)	266	(416)
Net income before income taxes	3,188	8,784	6,366	11,549
Provision (benefit) for income taxes	(695)	2,848	(999)	3,679
Net income	3,883	5,936	7,365	7,870
Less: Net loss attributable to noncontrolling interests	(24)	(28)	(34)	(39)
Net income attributable to Vital Farms, Inc. common stockholders	$ 3,907	$ 5,964	$ 7,399	$ 7,909
Net income per share attributable to Vital Farms, Inc. stockholders:
Basic:	$ 0.10	$ 0.23	$ 0.19	$ 0.30
Diluted:	$ 0.09	$ 0.16	$ 0.17	$ 0.21
Weighted average common shares outstanding:
Basic:	40,000,136	26,007,459	39,767,127	25,974,873
Diluted:	43,375,668	37,896,742	43,444,101	37,755,675

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 3,883	$ 5,936	$ 7,365	$ 7,870
Other comprehensive loss
Unrealized holding loss on available-for-sale securities, net of tax	(26)		(48)
Total comprehensive income	$ 3,857	$ 5,936	$ 7,317	$ 7,870

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK , REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Variable Interest Entity, Primary Beneficiary	Redeemable Convertible Preferred Stock	Redeemable Noncontrolling InterestVariable Interest Entity, Primary Beneficiary	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total Stockholders' Equity Attributable to Vital Farms, Inc. Stockholders	Noncontrolling Interests
Beginning balance at Dec. 29, 2019	$ 8,638				$ 3	$ (16,276)	$ 19,593	$ 5,239		$ 8,559	$ 79
Beginning balance, shares at Dec. 29, 2019			8,192,876
Beginning balance at Dec. 29, 2019			$ 23,036
Beginning balance at Dec. 29, 2019				$ 175
Beginning balance, shares at Dec. 29, 2019					31,429,898	(5,494,918)
Exercise of stock options	10						10			10
Exercise of stock options, Shares					7,558
Stock-based compensation expense	448						448			448
Net 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					31,437,456	(5,494,918)
Beginning balance at Dec. 29, 2019	8,638				$ 3	$ (16,276)	19,593	5,239		8,559	79
Beginning balance, shares at Dec. 29, 2019			8,192,876
Beginning balance at Dec. 29, 2019			$ 23,036
Beginning balance at Dec. 29, 2019				175
Beginning balance, shares at Dec. 29, 2019					31,429,898	(5,494,918)
Net 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
Ending balance at Jun. 28, 2020			$ 23,036
Ending balance at Jun. 28, 2020				175
Ending balance, shares at Jun. 28, 2020					31,683,456	(5,494,918)
Beginning balance at Mar. 29, 2020	11,030				$ 3	$ (16,276)	20,051	7,184		10,962	68
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					31,437,456	(5,494,918)
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 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
Ending balance at Jun. 28, 2020			$ 23,036
Ending balance at Jun. 28, 2020				175
Ending balance, shares at Jun. 28, 2020					31,683,456	(5,494,918)
Beginning balance at Dec. 27, 2020	142,211				$ 5	$ (16,276)	144,311	14,039	$ (31)	142,048	163
Beginning balance at Dec. 27, 2020		$ 175		175
Beginning balance, shares at Dec. 27, 2020					44,938,958	(5,494,918)
Exercise of stock options	525						525			525
Exercise of stock options, Shares					300,266
Stock-based compensation expense	853						853			853
Net loss attributable to non- controlling interests - stockholders	(11)										(11)
Other comprehensive loss, net	(22)								(22)	(22)
Net income attributable to Vital Farms, Inc.	3,491							3,491		3,491
Ending balance at Mar. 28, 2021	147,047				$ 5	$ (16,276)	145,689	17,530	(53)	146,895	152
Ending balance at Mar. 28, 2021				175
Ending balance, shares at Mar. 28, 2021					45,239,224	(5,494,918)
Beginning balance at Dec. 27, 2020	$ 142,211				$ 5	$ (16,276)	144,311	14,039	(31)	142,048	163
Beginning balance at Dec. 27, 2020		175		175
Beginning balance, shares at Dec. 27, 2020					44,938,958	(5,494,918)
Exercise of stock options, Shares	694,188
Net loss attributable to non- controlling interests - stockholders	$ (34)
Net income attributable to Vital Farms, Inc.	7,399
Ending balance at Jun. 27, 2021	153,023				$ 5	$ (16,276)	147,808	21,437	(79)	152,895	128
Ending balance at Jun. 27, 2021		175		175
Ending balance, shares at Jun. 27, 2021					45,648,146	(5,494,918)
Beginning balance at Mar. 28, 2021	147,047				$ 5	$ (16,276)	145,689	17,530	(53)	146,895	152
Beginning balance at Mar. 28, 2021				175
Beginning balance, shares at Mar. 28, 2021					45,239,224	(5,494,918)
Exercise of stock options	978						978			978
Exercise of stock options, Shares					393,922
Vested restricted stock, Shares					15,000
Stock-based compensation expense	1,141						1,141			1,141
Net loss attributable to non- controlling interests - stockholders	(24)										(24)
Other comprehensive loss, net	(26)								(26)	(26)
Net income attributable to Vital Farms, Inc.	3,907							3,907		3,907
Ending balance at Jun. 27, 2021	$ 153,023				$ 5	$ (16,276)	$ 147,808	$ 21,437	$ (79)	$ 152,895	$ 128
Ending balance at Jun. 27, 2021		$ 175		$ 175
Ending balance, shares at Jun. 27, 2021					45,648,146	(5,494,918)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Cash flows provided by operating activities:
Net income	$ 7,365	$ 7,870
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,620	954
Bad debt recovery	(67)	(150)
Stock-based compensation expense	1,994	744
Deferred taxes	(1,198)	1,551
Other	181	22
Changes in operating assets and liabilities:
Accounts receivable	2,864	241
Inventories	(1,052)	2,860
Income taxes (receivable) payable	185	1,970
Prepaid expenses and other current assets	2,052	848
Deposits and other assets	96	(28)
Accounts payable	361	2,290
Accrued liabilities and other liabilities	614	(1,444)
Net cash provided by operating activities	15,015	17,728
Cash flows used in investing activities:
Purchases of property, plant and equipment	(7,811)	(5,388)
Purchases of available-for-sale debt securities	(27,630)
Sales, maturities, and call redemptions of available-for-sale debt securities	27,036
Net cash used in investing activities	(8,405)	(5,388)
Cash flows provided by 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
Repayment of revolving line of credit		(1,325)
Repayment of equipment loan		(98)
Repayment of term loan		(335)
Repayment of Paycheck Protection Program loan		(2,593)
Payment of contingent consideration	(75)	(89)
Payment of deferred offering costs		(1,364)
Principal payments under finance lease obligation	(233)	(222)
Proceeds from exercise of stock options	1,503	170
Proceeds from exercise of warrant		282
Net cash provided by financing activities	1,195	3,480
Net increase in cash and cash equivalents	7,805	15,820
Cash and cash equivalents at beginning of the period	29,544	1,274
Cash and cash equivalents at end of the period	37,349	17,094
Supplemental disclosure of cash flow information:
Cash paid for interest	32	261
Cash paid for income taxes	4	10
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property, plant and equipment included in accounts payable and accrued liabilities	$ 51	254
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. 27, 2021
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 and foodservice channels in the United States. 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 27, 2021 and for the 13-week and 26-week periods ended June 27, 2021 and June 28, 2020 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 on our Annual Report on Form 10-K and the notes thereto for the fiscal year ended December 27, 2020. 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 27, 2021, consolidated results of operations for the 13-week and 26-week periods ended June 27, 2021 and June 28, 2020, and consolidated cash flows for the 26-week periods ended June 27, 2021 and June 27, 2020. Such adjustments are of a normal and recurring nature. The condensed consolidated results of operations for the 13-week and 26-week periods ended June 27, 2021 are not necessarily indicative of the consolidated results of operations that may be expected for the fiscal year ending December 26, 2021. 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 27, 2021 and June 28, 2020 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; new or re-imposed 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, including vaccination efforts. 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, 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 27, 2021, including share and per share amounts, include the effects of the IPO.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 27, 2021
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 27, 2020, and the notes thereto, which are included in our Annual Report on Form 10-K. There have been no material changes to the Company’s significant accounting policies during the 26-week period ended June 27, 2021. 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 27, 2020, and the notes thereto, which are included in our Annual Report on Form 10-K. Except as described below, there have been no new accounting pronouncements adopted by the Company during the 26-week period ended June 27, 2021. 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 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 (“ASU 2019-12”), which intends to simplify the guidance by removing certain exceptions to the general principles and clarifying or amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company expects to adopt ASU 2019-12 on December 26, 2022. Although the Company is currently evaluating the impact of the adoption of ASU 2019-12, the Company does not expect it to have a material impact on its consolidated financial statements.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 27, 2021
Investments Debt And Equity Securities [Abstract]
Investment Securities	3. Investment Securities The following table summarizes the Company’s available-for-sale investment securities as of June 27, 2021, which were purchased in October 2020: Amortized Cost Unrealized Losses Fair Value U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds $ 64,090 $ (101 ) $ 63,989 Commercial Paper 3,999 — 3,999 U.S. Treasury 1,002 (2 ) 1,000 Total $ 69,091 $ (103 ) $ 68,988 The following table summarizes the Company’s available-for-sale investment securities as of December 27, 2020: Amortized Cost Unrealized Losses Fair Value U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds $ 58,671 $ (41 ) $ 58,630 Commercial Paper 6,697 — 6,697 U.S. Treasury 3,030 — 3,030 Total $ 68,398 $ (41 ) $ 68,357 In October 2020, the Company purchased available-for-sale debt securities of approximately $68,336. During the 13-weeks ended June 27, 2021 there were purchases of $13,196, sales and maturities of $11,286 with no realized gains or losses and call redemptions of $760 with realized losses of $1. During the 26-weeks ended June 27, 2021 there were purchases of $27,582, sales and maturities of $23,808 with realized losses of $1, and call redemptions of $3,228 with realized losses of $9. The securities incurred unrealized losses of $33 and related tax benefit of $7 for the 13-weeks ended June 27, 2021. The securities incurred unrealized losses of $62 and related tax benefit of $14 for the 26-weeks ended June 27, 2021. Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Contractual maturities of investment securities as of June 27, 2021 are as follows: Amortized Cost Fair Value Due within one year $ 36,529 $ 36,528 Due in 1-5 years 32,562 32,460 Total available-for-sale $ 69,091 $ 68,988 The following tables present information about the Company’s financial assets measured at fair value on a recurring basis for the periods presented: Fair Value Measurements as of June 27, 2021, Using: Level 1 Level 2 Level 3 Total Assets: U.S. Corporate Bonds and U.S. Denominated Foreign Bonds $ — $ 63,989 $ — $ 63,989 Commercial Paper — 3,999 — 3,999 Money Market 24,901 — — 24,901 U.S. Treasury — 1,000 — 1,000 Total assets measured at fair value $ 24,901 $ 68,988 $ — $ 93,889 Fair Value Measurements as of December 27, 2020, Using: Level 1 Level 2 Level 3 Total Assets: U.S. Corporate Bonds and U.S. Denominated Foreign Bonds $ — $ 58,630 $ — $ 58,630 Commercial Paper — 6,697 — 6,697 Money Market 25,469 — — 25,469 U.S. Treasury — 3,030 — 3,030 Total assets measured at fair value $ 25,469 $ 68,357 $ — $ 93,826

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 27, 2021
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 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Net Revenue: Egg and egg-related products $ 56,339 $ 54,494 $ 110,768 $ 98,439 Butter and butter-related products 3,984 4,847 8,101 8,481 Net Revenue $ 60,324 $ 59,341 $ 118,869 $ 106,920 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. As of June 27, 2021 and December 27, 2020, the Company had customers that individually represented 10% or more of the Company’s accounts receivable, net and during the 13-week and 26-week periods ended June 27, 2021 and June 28, 2020, 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 and 26-week periods ended June 27, 2021 and June 28, 2020 is as follows: Net Revenue for the 13-Weeks Ended June 27, 2021 Net Revenue for the 13-Weeks Ended June 28, 2020 Net Revenue for the 26-Weeks Ended June 27, 2021 Net Revenue for the 26-Weeks Ended June 28, 2020 Customer A * 11% * 22% Customer B 25% 21% 25% 12% Customer C 10% 13% 11% 12% Customer D 11% 14% 11% 14% * Revenue was less than 10%. The decrease in net revenue for Customer A for the 13-week and 26-week periods ended June 27, 2021 compared to the 13-week and 26-week periods ended June 28, 2020 is due to a shift in the Company’s distribution channels to Customer B. The decrease in net revenue for Customers C and D for the 13-week and 26-week periods ended June 27, 2021 compared to the same periods in the prior year is due to COVID-19 related pantry-loading that has not recurred at similar levels, offset by increased net revenue with other customers and new distribution channels in the current periods. The percentage of accounts receivable, net due from these significant customers as of June 27, 2021 and December 27, 2020 is as follows: Accounts Receivable, Net as of June 27, 2021 Accounts Receivable, Net as of December 27, 2020 Customer A * * Customer B 23% 20% Customer C * * Customer D 14% 15% * Accounts receivable was less than 10%.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 27, 2021
Receivables [Abstract]
Accounts Receivable	5. Accounts Receivable Accounts receivable, net was $18,137 and $20,934 as of June 27, 2021 and December 27, 2020, respectively. As of June 27, 2021 and December 27, 2020, the Company recorded an allowance for doubtful accounts of $129 and $196, respectively. Changes in the allowance for doubtful accounts were as follows: Allowance for doubtful accounts As of December 27, 2020 $ (196 ) Provisions Charged to Operating Results (52 ) Account Write-off and Recoveries 97 As of March 27, 2021 (151 ) Provisions Charged to Operating Results (111 ) Account Write-off and Recoveries 133 As of June 27, 2021 $ (129 )

Inventories

Inventories	6 Months Ended
	Jun. 27, 2021
Inventory Disclosure [Abstract]
Inventories	6. Inventories Inventory consisted of the following as of the periods presented: June 27, 2021 December 27, 2020 Eggs and egg-related products $ 5,988 $ 6,407 Butter and butter-related products 4,830 3,347 Packaging 1,673 1,997 Other 1,228 1,151 $ 13,719 $ 12,902 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. 27, 2021
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 27, 2021 December 27, 2020 Land $ 525 $ 525 Buildings and improvements 14,292 14,297 Vehicles 576 551 Machinery and equipment 13,775 12,473 Leasehold improvements 973 973 Furniture and fixtures 452 447 Construction in progress 13,008 6,654 43,601 35,920 Less: Accumulated depreciation and amortization (7,271 ) (5,802 ) Property, plant and equipment, net $ 36,330 $ 30,118 During the 13-week periods ended June 27, 2021 and June 28, 2020, depreciation and amortization of property, plant and equipment was approximately $835 and $498, respectively. During the 26-week periods ended June 27, 2021 and June 28, 2020, depreciation and amortization of property, plant and equipment was approximately $1,620 and $954, respectively. As of June 27, 2021 and December 27, 2020, 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 $1,034 and $1,193, respectively.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 27, 2021
Payables And Accruals [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following as of the periods presented: June 27, 2021 December 27, 2020 Accrued promotions and expired product chargebacks $ 3,257 $ 2,724 Accrued grower payments 27 34 Accrued employee related costs 2,338 3,718 Accrued offering costs — 123 Accrued distribution fees and freight 1,088 436 Accrued accounting and legal fees 547 238 Accrued marketing and commissions 521 739 Property, plant and equipment 1,164 502 Other 1,511 1,331 Accrued liabilities $ 10,453 $ 9,845

Capital Leases

Capital Leases	6 Months Ended
	Jun. 27, 2021
Debt Disclosure [Abstract]
Capital Leases	9. Capital Leases Future principal payments for capital lease payments as of June 27, 2021 are as follows: For 26-Week Period End 2021 (remaining twenty-six weeks) 238 2022 327 Total $ 565

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Redeemable Convertible Preferred Stock	10. Redeemable Convertible Preferred Stock Upon the closing of the IPO in August 2020, all of the then-outstanding shares of preferred stock automatically converted into 8,192,876 shares of common stock on a one-for-one

Common Stock and Common Stock W

Common Stock and Common Stock Warrant	6 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Common Stock and Common Stock Warrant	11. Common Stock and Common Stock Warrant Common Stock: As of June 27, 2021, the Company’s amended and restated certificate of incorporation authorized the Company to issue 310,000,000 shares of common stock, par value $0.0001 per share, of which 40,153,228 shares were issued and outstanding 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. 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 27, 2021 December 27, 2020 Options to purchase common stock 5,439,823 5,815,684 Restricted stock units 97,949 45,000 Shares available for grant under the 2020 Employee Stock Purchase Plan 1,294,440 900,000 Shares available for grant under the 2020 Incentive Plan 8,746,140 7,615,143 Total 15,578,352 14,375,827 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 scheduled 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. 27, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation Stock Option Activity The following table summarizes the Company’s stock option activity since December 27, 2020: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of December 27, 2020 5,815,684 $ 6.87 6.7 $ 112,762 Granted 450,892 $ 25.65 Exercised (694,188 ) $ 2.12 $ 15,512 Cancelled (132,565 ) $ 14.58 Outstanding as of June 27, 2021 5,439,823 $ 8.83 7.0 $ 71,449 Options exercisable as of June 27, 2021 2,214,695 $ 2.92 4.9 $ 40,528 Options vested and expected to vest as of June 27, 2021 5,421,233 $ 8.85 7.0 $ 71,123 The fair value of shares vested during the 13-week periods ended June 27, 2021 and June 28, 2020 was $608 and $40, respectively. The fair value of shares vested during the 26-week periods ended June 27, 2021 and June 28, 2020 was $912 and $312, respectively. Restricted Stock Unit Activity The following table summarizes the Company’s restricted stock unit (“RSU”) activity since December 27, 2020: Number of RSUs Weighted- Average Exercise Price Unvested as of December 27, 2020 45,000 $ 37.61 Granted 68,887 24.70 Vested (15,000 ) 37.61 Forfeited (938 ) 25.78 Unvested as of June 27, 2021 97,949 $ 28.64 The Company measures compensation expense for all stock-based awards based on the estimated fair values on the date of the grant. The fair value of stock options granted was estimated using the Black-Scholes option-pricing valuation model. The fair value of RSUs is determined using the closing stock price of our common stock on the date of grant. The Company records stock-based compensation expense in selling, general and administrative expenses and cost of goods sold. During the 13-week periods ended June 27, 2021 and June 28, 2020, the Company recognized stock-based compensation expense of $1,141 and $296, respectively. During the 13-week period ended June 27, 2021, $38 of stock-based compensation expense was recognized in cost of goods sold. During the 26-week periods ended June 27, 2021 and June 28, 2020, the Company recognized stock-based compensation expense of $1,994 and $744, respectively. During the 26-week periods ended June 27, 2021 $60 of stock-based compensation expense was recognized in cost of goods sold. No stock-based compensation was recognized in cost of goods sold in the 13-week and 26-week periods ended June 27, 2020 As of June 27, 2021, total unrecognized stock-based compensation expense related to unvested stock options and RSUs was $13,699, which is expected to be recognized over a weighted-average period of 3.0 years. 2020 Equity Incentive Plan: 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 was 8,595,871 shares. 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. As of June 27, 2021, 8,746,140 shares were available for future grants of the Company’s common stock. Awards issued under the 2020 Incentive Plan generally have a three-year ratable vesting period beginning on the date of grant. Employee Stock Purchase Plan: 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. As of June 27, 2021, 1,294,440 shares of the Company’s common stock were available for future issuance. 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 27, 2021, no offerings have been approved.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 27, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective tax rate for the 13-week periods ended June 27, 2021 and June 28, 2020 was approximately (7)% and 32%, respectively. The Company’s effective tax rate for the 26-week periods ended June 27, 2021 and June 28, 2020 was approximately (16)% and 32%, respectively. In the 13-week and 26-week periods ended June 27, 2021 there were favorable tax benefits related to the exercise of non-qualified stock options.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 27, 2021
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 27, 2021 June 28, 2020 Numerator: Net income $ 3,883 $ 5,936 Less: Net income/(loss) attributable to noncontrolling interests (24 ) (28 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 3,907 $ 5,964 Denominator: Weighted average common shares outstanding — basic 40,000,136 26,007,459 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,375,052 3,580,960 Effect of potentially dilutive restricted stock units 480 — Effect of potentially dilutive common stock warrants — 115,447 Effect of potentially dilutive redeemable convertible preferred stock — 8,192,876 Weighted average common shares outstanding — diluted 43,375,668 37,896,742 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.10 $ 0.23 Diluted $ 0.09 $ 0.16 26-Weeks Ended June 27, 2021 June 28, 2020 Numerator: Net income $ 7,365 $ 7,870 Less: Net loss attributable to noncontrolling interests (34 ) (39 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 7,399 $ 7,909 Denominator: Weighted average common shares outstanding — basic 39,767,127 25,974,873 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,676,494 3,444,989 Effect of potentially dilutive restricted stock units 480 — Effect of potentially dilutive common stock warrants — 142,937 Effect of potentially dilutive redeemable convertible preferred stock — 8,192,876 Weighted average common shares outstanding — diluted 43,444,101 37,755,675 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.19 $ 0.30 Diluted $ 0.17 $ 0.21 For the 13-week periods ended June 27, 2021 and June 28, 2020, options to purchase 196,640 shares of common stock and 118,584 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 27, 2021 and June 28, 2020, options to purchase 112,644 shares of common stock and 116,764 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. 27, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Operating Leases: As of June 27, 2021, 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 27, 2021, 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 27, 2021 and June 28, 2020, the Company recognized rent expense, including associated common area maintenance charges, of $159 and $105, respectively. During the 26-week periods ended June 27, 2021 and June 28, 2020, the Company recognized rent expense, including associated common area maintenance charges, of $264 and $215, respectively. As of June 27, 2021, future minimum lease payments under noncancelable operating leases are as follows: 2021 (remaining twenty-six weeks) 725 2022 1,476 2023 1,254 2024 471 Thereafter 454 Total $ 4,380 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 27, 2021 and June 28, 2020, the Company recognized total costs associated with its long-term supply contracts with farms of $24,123 and $22,624, respectively. During the 26-week periods ended June 27, 2021 and June 28, 2020, the Company recognized total costs associated with its long-term supply contracts with farms of $47,378 and $42,689, 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 27, 2021, 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.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 27, 2021
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. The Ovabrite entity is immaterial as of the 13-weeks ended June 27, 2021. 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. In August 2020, the remaining $800 of the promissory notes were repaid. 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 $326 and $135 during the 13-week period ended June 27, 2021 and June 28, 2020, respectively and $625, and $358 during the 26-week period ended June 27, 2021 and June 28, 2020, respectively. Amounts paid to Sandpebble are included in property, plant and equipment, net in the unaudited condensed consolidated balance sheets. Whole Foods Market, Inc: A member of the Company’s board of directors is an executive vice president and senior advisor at Whole Foods Market Inc. (“Whole Foods”). The Company serves the majority of its natural channel retail customers through food distributors, such as US Foods Inc. and United Natural Foods, Inc. who purchase, store, sell and deliver products to Whole Foods. While the Company cannot precisely determine its specific revenue attributable to Whole Foods, it is a significant customer.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 27, 2021
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events None.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 27, 2021
Accounting Policies [Abstract]
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 27, 2020, and the notes thereto, which are included in our Annual Report on Form 10-K. Except as described below, there have been no new accounting pronouncements adopted by the Company during the 26-week period ended June 27, 2021. 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 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 (“ASU 2019-12”), which intends to simplify the guidance by removing certain exceptions to the general principles and clarifying or amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company expects to adopt ASU 2019-12 on December 26, 2022. Although the Company is currently evaluating the impact of the adoption of ASU 2019-12, the Company does not expect it to have a material impact on its consolidated financial statements.

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 27, 2021
Investments Debt And Equity Securities [Abstract]
Summary of Available-for-sale Investment Securities	The following table summarizes the Company’s available-for-sale investment securities as of June 27, 2021, which were purchased in October 2020: Amortized Cost Unrealized Losses Fair Value U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds $ 64,090 $ (101 ) $ 63,989 Commercial Paper 3,999 — 3,999 U.S. Treasury 1,002 (2 ) 1,000 Total $ 69,091 $ (103 ) $ 68,988 The following table summarizes the Company’s available-for-sale investment securities as of December 27, 2020: Amortized Cost Unrealized Losses Fair Value U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds $ 58,671 $ (41 ) $ 58,630 Commercial Paper 6,697 — 6,697 U.S. Treasury 3,030 — 3,030 Total $ 68,398 $ (41 ) $ 68,357
Summary of Contractual Maturities of Investment Securities	Contractual maturities of investment securities as of June 27, 2021 are as follows: Amortized Cost Fair Value Due within one year $ 36,529 $ 36,528 Due in 1-5 years 32,562 32,460 Total available-for-sale $ 69,091 $ 68,988
Schedule of Financial Assets Measured at Fair Value	The following tables present information about the Company’s financial assets measured at fair value on a recurring basis for the periods presented: Fair Value Measurements as of June 27, 2021, Using: Level 1 Level 2 Level 3 Total Assets: U.S. Corporate Bonds and U.S. Denominated Foreign Bonds $ — $ 63,989 $ — $ 63,989 Commercial Paper — 3,999 — 3,999 Money Market 24,901 — — 24,901 U.S. Treasury — 1,000 — 1,000 Total assets measured at fair value $ 24,901 $ 68,988 $ — $ 93,889 Fair Value Measurements as of December 27, 2020, Using: Level 1 Level 2 Level 3 Total Assets: U.S. Corporate Bonds and U.S. Denominated Foreign Bonds $ — $ 58,630 $ — $ 58,630 Commercial Paper — 6,697 — 6,697 Money Market 25,469 — — 25,469 U.S. Treasury — 3,030 — 3,030 Total assets measured at fair value $ 25,469 $ 68,357 $ — $ 93,826

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Net Revenue: Egg and egg-related products $ 56,339 $ 54,494 $ 110,768 $ 98,439 Butter and butter-related products 3,984 4,847 8,101 8,481 Net Revenue $ 60,324 $ 59,341 $ 118,869 $ 106,920
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 and 26-week periods ended June 27, 2021 and June 28, 2020 is as follows: Net Revenue for the 13-Weeks Ended June 27, 2021 Net Revenue for the 13-Weeks Ended June 28, 2020 Net Revenue for the 26-Weeks Ended June 27, 2021 Net Revenue for the 26-Weeks Ended June 28, 2020 Customer A * 11% * 22% Customer B 25% 21% 25% 12% Customer C 10% 13% 11% 12% Customer D 11% 14% 11% 14% * Revenue was less than 10%. The percentage of accounts receivable, net due from these significant customers as of June 27, 2021 and December 27, 2020 is as follows: Accounts Receivable, Net as of June 27, 2021 Accounts Receivable, Net as of December 27, 2020 Customer A * * Customer B 23% 20% Customer C * * Customer D 14% 15% * Accounts receivable was less than 10%.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2020 $ (196 ) Provisions Charged to Operating Results (52 ) Account Write-off and Recoveries 97 As of March 27, 2021 (151 ) Provisions Charged to Operating Results (111 ) Account Write-off and Recoveries 133 As of June 27, 2021 $ (129 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 27, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of the periods presented: June 27, 2021 December 27, 2020 Eggs and egg-related products $ 5,988 $ 6,407 Butter and butter-related products 4,830 3,347 Packaging 1,673 1,997 Other 1,228 1,151 $ 13,719 $ 12,902

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2021 December 27, 2020 Land $ 525 $ 525 Buildings and improvements 14,292 14,297 Vehicles 576 551 Machinery and equipment 13,775 12,473 Leasehold improvements 973 973 Furniture and fixtures 452 447 Construction in progress 13,008 6,654 43,601 35,920 Less: Accumulated depreciation and amortization (7,271 ) (5,802 ) Property, plant and equipment, net $ 36,330 $ 30,118

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 27, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of the periods presented: June 27, 2021 December 27, 2020 Accrued promotions and expired product chargebacks $ 3,257 $ 2,724 Accrued grower payments 27 34 Accrued employee related costs 2,338 3,718 Accrued offering costs — 123 Accrued distribution fees and freight 1,088 436 Accrued accounting and legal fees 547 238 Accrued marketing and commissions 521 739 Property, plant and equipment 1,164 502 Other 1,511 1,331 Accrued liabilities $ 10,453 $ 9,845

Capital Leases (Tables)

Capital Leases (Tables)	6 Months Ended
	Jun. 27, 2021
Debt Disclosure [Abstract]
Summary of Future Principal Payments for Capital Lease Payments	Future principal payments for capital lease payments as of June 27, 2021 are as follows: For 26-Week Period End 2021 (remaining twenty-six weeks) 238 2022 327 Total $ 565

Common Stock and Common Stock_2

Common Stock and Common Stock Warrant (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2021 December 27, 2020 Options to purchase common stock 5,439,823 5,815,684 Restricted stock units 97,949 45,000 Shares available for grant under the 2020 Employee Stock Purchase Plan 1,294,440 900,000 Shares available for grant under the 2020 Incentive Plan 8,746,140 7,615,143 Total 15,578,352 14,375,827

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2020: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of December 27, 2020 5,815,684 $ 6.87 6.7 $ 112,762 Granted 450,892 $ 25.65 Exercised (694,188 ) $ 2.12 $ 15,512 Cancelled (132,565 ) $ 14.58 Outstanding as of June 27, 2021 5,439,823 $ 8.83 7.0 $ 71,449 Options exercisable as of June 27, 2021 2,214,695 $ 2.92 4.9 $ 40,528 Options vested and expected to vest as of June 27, 2021 5,421,233 $ 8.85 7.0 $ 71,123
Summary of Restricted Stock Unit Activity	The following table summarizes the Company’s restricted stock unit (“RSU”) activity since December 27, 2020: Number of RSUs Weighted- Average Exercise Price Unvested as of December 27, 2020 45,000 $ 37.61 Granted 68,887 24.70 Vested (15,000 ) 37.61 Forfeited (938 ) 25.78 Unvested as of June 27, 2021 97,949 $ 28.64

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 27, 2021
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 27, 2021 June 28, 2020 Numerator: Net income $ 3,883 $ 5,936 Less: Net income/(loss) attributable to noncontrolling interests (24 ) (28 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 3,907 $ 5,964 Denominator: Weighted average common shares outstanding — basic 40,000,136 26,007,459 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,375,052 3,580,960 Effect of potentially dilutive restricted stock units 480 — Effect of potentially dilutive common stock warrants — 115,447 Effect of potentially dilutive redeemable convertible preferred stock — 8,192,876 Weighted average common shares outstanding — diluted 43,375,668 37,896,742 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.10 $ 0.23 Diluted $ 0.09 $ 0.16 26-Weeks Ended June 27, 2021 June 28, 2020 Numerator: Net income $ 7,365 $ 7,870 Less: Net loss attributable to noncontrolling interests (34 ) (39 ) Net income attributable to Vital Farms, Inc. stockholders’ — basic and diluted $ 7,399 $ 7,909 Denominator: Weighted average common shares outstanding — basic 39,767,127 25,974,873 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options 3,676,494 3,444,989 Effect of potentially dilutive restricted stock units 480 — Effect of potentially dilutive common stock warrants — 142,937 Effect of potentially dilutive redeemable convertible preferred stock — 8,192,876 Weighted average common shares outstanding — diluted 43,444,101 37,755,675 Net income per share attributable to Vital Farms, Inc. stockholders Basic $ 0.19 $ 0.30 Diluted $ 0.17 $ 0.21

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 27, 2021
Commitments And Contingencies Disclosure [Abstract]
Summary of Future Minimum Lease Payments Under Noncancelable Operating Leases	As of June 27, 2021, future minimum lease payments under noncancelable operating leases are as follows: 2021 (remaining twenty-six weeks) 725 2022 1,476 2023 1,254 2024 471 Thereafter 454 Total $ 4,380

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. 27, 2021shares	Dec. 27, 2020shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation			Jun. 6, 2013
Forward stock split			2.46-for-1
Forward stock split conversion ratio	2.46
Common stock, shares issued			40,153,228	39,444,040
Preferred stock, shares outstanding		0
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
Preferred stock, shares outstanding		0
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) - ASU 2020-04	Jun. 27, 2021
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

Investment Securities - Summary

Investment Securities - Summary of Available-for-sale Investment Securities (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 69,091	$ 68,398
Unrealized Losses	(103)	(41)
Investment securities	68,988	68,357
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	3,999	6,697
Investment securities	3,999	6,697
U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	64,090	58,671
Unrealized Losses	(101)	(41)
Investment securities	63,989	58,630
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,002	3,030
Unrealized Losses	(2)
Investment securities	$ 1,000	$ 3,030

Investment Securities - Additio

Investment Securities - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2020	Jun. 27, 2021	Jun. 27, 2021
Investments Debt And Equity Securities [Abstract]
Available-for-sale debt securities purchased	$ 68,336,000	$ 13,196,000	$ 27,582,000
Proceeds from the sales and maturities of available-for-sale debt securities		11,286,000	23,808,000
Realized gains or losses on sales and maturities		0
Realized losses on sales and maturities			1,000
Proceeds from the call redemptions of available-for-sale debt securities		760,000	3,228,000
Realized losses on call redemptions		1,000	$ 9,000
Securities incurred unrealized losses		33,000
Securities related tax benefit		$ 7,000

Investment Securities - Summa_2

Investment Securities - Summary of Contractual Maturities of Investment Securities (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Investments Debt And Equity Securities [Abstract]
Due within one year Amortized Cost	$ 36,529
Due in 1-5 years Amortized Cost	32,562
Amortized Cost	69,091	$ 68,398
Due within one year Fair Value	36,528
Due in 1-5 years Fair Value	32,460
Total available-for-sale Fair Value	$ 68,988

Investment Securities - Schedul

Investment Securities - Schedule of Financial Assets Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	$ 93,889	$ 93,826
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	24,901	25,469
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	68,988	68,357
U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	63,989	58,630
U.S. Corporate Bonds and U.S. Dollar Denominated Foreign Bonds | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	63,989	58,630
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	3,999	6,697
Commercial Paper | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	3,999	6,697
Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	24,901	25,469
Money Market | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	24,901	25,469
U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	1,000	3,030
U.S. Treasury Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Assets measured at fair value	$ 1,000	$ 3,030

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Revenue by Primary Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Disaggregation Of Revenue [Line Items]
Net revenue	$ 60,324	$ 59,341	$ 118,869	$ 106,920
Egg and Egg Related Products
Disaggregation Of Revenue [Line Items]
Net revenue	56,339	54,494	110,768	98,439
Butter and Butter Related Products
Disaggregation Of Revenue [Line Items]
Net revenue	$ 3,984	$ 4,847	$ 8,101	$ 8,481

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. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Customer A
Disaggregation Of Revenue [Line Items]
Concentration risk percentage		11.00%		22.00%
Customer B
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	25.00%	21.00%	25.00%	12.00%
Customer C
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	10.00%	13.00%	11.00%	12.00%
Customer D
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	11.00%	14.00%	11.00%	14.00%

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. 27, 2021	Dec. 27, 2020
Customer B
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	23.00%	20.00%
Customer D
Disaggregation Of Revenue [Line Items]
Concentration risk percentage	14.00%	15.00%

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 28, 2021	Dec. 27, 2020
Receivables [Abstract]
Accounts receivable, net	$ 18,137		$ 20,934
Allowance for doubtful accounts	$ 129	$ 151	$ 196

Accounts Receivable - Summary o

Accounts Receivable - Summary of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Mar. 28, 2021
Receivables [Abstract]
Allowance for doubtful accounts, Beginning balance	$ (151)	$ (196)
Provisions Charged to Operating Results	(111)	(52)
Account Write-off and Recoveries	133	97
Allowance for doubtful accounts, Ending balance	$ (129)	$ (151)

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Inventory [Line Items]
Inventories	$ 13,719	$ 12,902
Eggs and Egg Related Products
Inventory [Line Items]
Inventories	5,988	6,407
Butter and Butter Related Products
Inventory [Line Items]
Inventories	4,830	3,347
Packaging
Inventory [Line Items]
Inventories	1,673	1,997
Other
Inventory [Line Items]
Inventories	$ 1,228	$ 1,151

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 43,601	$ 35,920
Less: Accumulated depreciation and amortization	(7,271)	(5,802)
Property, plant and equipment, net	36,330	30,118
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	14,292	14,297
Vehicles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	576	551
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	13,775	12,473
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	973	973
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	452	447
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 13,008	$ 6,654

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020	Dec. 27, 2020
Property Plant And Equipment [Line Items]
Depreciation and amortization of property, plant and equipment	$ 835	$ 498	$ 1,620	$ 954
Machinery and Equipment
Property Plant And Equipment [Line Items]
Capital leases included in property, plant and equipment	$ 1,034		$ 1,034		$ 1,193

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Payables And Accruals [Abstract]
Accrued promotions and expired product chargebacks	$ 3,257	$ 2,724
Accrued grower payments	27	34
Accrued employee related costs	2,338	3,718
Accrued offering costs		123
Accrued distribution fees and freight	1,088	436
Accrued accounting and legal fees	547	238
Accrued marketing and commissions	521	739
Property, plant and equipment	1,164	502
Other	1,511	1,331
Accrued liabilities	$ 10,453	$ 9,845

Capital Leases - Summary of Fut

Capital Leases - Summary of Future Principal Payments for Capital Lease Payments (Details) $ in Thousands	Jun. 27, 2021USD ($)
Debt Disclosure [Abstract]
2021 (remaining twenty-six weeks)	$ 238
2022	327
Total	$ 565

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock - Additional Information (Details)	1 Months Ended
	Aug. 31, 2020shares
Class Of Stock [Line Items]
Preferred stock, shares outstanding	0
IPO
Class Of Stock [Line Items]
Shares issued upon conversion of preferred stock	8,192,876
Preferred stock convertible into common stock conversion ratio	100.00%
Preferred stock, shares outstanding	0

Common Stock and Common Stock_3

Common Stock and Common Stock Warrant - Additional Information (Details) - USD ($)	Jun. 09, 2020	Jun. 27, 2021	Jun. 28, 2020	Dec. 27, 2020
Class Of Stock [Line Items]
Common stock, shares authorized		310,000,000		310,000,000
Common stock, shares issued		40,153,228		39,444,040
Common stock, shares outstanding		40,153,228		39,444,040
Common stock, par value		$ 0.0001		$ 0.0001
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

Common Stock and Common Stock_4

Common Stock and Common Stock Warrant - Schedule of Reserved Shares of Common Stock for Issuance (Details) - shares	Jun. 27, 2021	Dec. 27, 2020
Class Of Stock [Line Items]
Common stock for issuance	15,578,352	14,375,827
2020 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock for issuance	1,294,440
Options to Purchase Common Stock
Class Of Stock [Line Items]
Common stock for issuance	5,439,823	5,815,684
Restricted Stock Units
Class Of Stock [Line Items]
Common stock for issuance	97,949	45,000
Shares Available for Grant | 2020 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock for issuance	1,294,440	900,000
Shares Available for Grant | 2020 Incentive Plan
Class Of Stock [Line Items]
Common stock for issuance	8,746,140	7,615,143

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. 27, 2021USD ($)$ / sharesshares	Dec. 27, 2020USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning balance | shares	5,815,684
Number of Options, Granted | shares	450,892
Number of Options, Exercised | shares	(694,188)
Number of Options, Cancelled | shares	(132,565)
Number of Options, Ending balance | shares	5,439,823	5,815,684
Number of Options, Options exercisable as of June 27, 2021 | shares	2,214,695
Number of Options, Options vested and expected to vest as of June 27, 2021 | shares	5,421,233
Weighted-Average Exercise Price, Beginning balance | $ / shares	$ 6.87
Weighted-Average Exercise Price, Options Granted | $ / shares	25.65
Weighted-Average Exercise Price, Options Exercised | $ / shares	2.12
Weighted-Average Exercise Price, Options Cancelled | $ / shares	14.58
Weighted-Average Exercise Price, Ending balance | $ / shares	8.83	$ 6.87
Weighted-Average Exercise Price, Options exercisable as of June 27, 2021 | $ / shares	2.92
Weighted-Average Exercise Price, Options vested and expected to vest as of June 27, 2021 | $ / shares	$ 8.85
Weighted Average Remaining Contractual Life (Years), Balance	7 years	6 years 8 months 12 days
Weighted Average Remaining Contractual Life (Years), Options exercisable as of June 27, 2021	4 years 10 months 24 days
Weighted Average Remaining Contractual Life (Years), Options vested and expected to vest as of June 27, 2021	7 years
Aggregate Intrinsic Value | $	$ 71,449	$ 112,762
Aggregate Intrinsic Value, Exercised | $	15,512
Aggregate Intrinsic Value, Options exercisable as of June 27, 2021 | $	40,528
Aggregate Intrinsic Value, Options vested and expected to vest as of June 27, 2021 | $	$ 71,123

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020	Dec. 27, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of shares vested		$ 608	$ 40	$ 912	$ 312
Stock-based compensation expense		1,141	296	1,994	744
Unrecognized stock-based compensation expense related to unvested stock options and RSUs		$ 13,699		$ 13,699
Expected weighted-average period of recognition				3 years
Common stock for issuance		15,578,352		15,578,352		14,375,827
2020 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [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 was 8,595,871 shares. 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.
2020 Equity Incentive Plan | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares issuable	8,595,871
Percentage of outstanding common stock	4.00%
Number of shares available for future grants		8,746,140		8,746,140
2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [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. As of June 27, 2021, 1,294,440 shares of
Common stock for issuance		1,294,440		1,294,440
2020 Employee Stock Purchase Plan | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares issuable	900,000
Percentage of outstanding common stock	1.00%
Cost of goods sold
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 38	$ 0	$ 60	$ 0

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 27, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs, Beginning balance | shares	45,000
Number of RSUs, Granted | shares	68,887
Number of RSUs, Vested | shares	(15,000)
Number of RSUs, Forfeited | shares	(938)
Number of RSUs, Ending balance | shares	97,949
Weighted-Average Exercise Price, Beginning balance | $ / shares	$ 37.61
Weighted-Average Exercise Price, Granted | $ / shares	24.70
Weighted-Average Exercise Price, Vested | $ / shares	37.61
Weighted-Average Exercise Price, Forfeited | $ / shares	25.78
Weighted-Average Exercise Price, Ending balance | $ / shares	$ 28.64

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	(7.00%)	32.00%	(16.00%)	32.00%

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. 27, 2021	Mar. 28, 2021	Jun. 28, 2020	Mar. 29, 2020	Jun. 27, 2021	Jun. 28, 2020
Numerator:
Net income	$ 3,883		$ 5,936		$ 7,365	$ 7,870
Less: Net loss attributable to noncontrolling interests	(24)	$ (11)	(28)	$ (11)	(34)	(39)
Net income attributable to Vital Farms, Inc. common stockholders	$ 3,907	$ 3,491	$ 5,964	$ 1,945	$ 7,399	$ 7,909
Denominator:
Weighted average common shares outstanding — basic	40,000,136		26,007,459		39,767,127	25,974,873
Weighted average effect of potentially dilutive securities:
Effect of potentially dilutive common stock warrants			115,447			142,937
Effect of potentially dilutive redeemable convertible preferred stock			8,192,876			8,192,876
Weighted average common shares outstanding — diluted	43,375,668		37,896,742		43,444,101	37,755,675
Net income per share attributable to Vital Farms, Inc. stockholders:
Basic	$ 0.10		$ 0.23		$ 0.19	$ 0.30
Diluted	$ 0.09		$ 0.16		$ 0.17	$ 0.21
Options to Purchase Common Stock
Weighted average effect of potentially dilutive securities:
Effect of potentially dilutive stock	3,375,052		3,580,960		3,676,494	3,444,989
Restricted Stock Units
Weighted average effect of potentially dilutive securities:
Effect of potentially dilutive stock	480				480

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	196,640	118,584	112,644	116,764

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021USD ($)ft²	Jun. 28, 2020USD ($)	Jun. 27, 2021USD ($)ft²	Jun. 28, 2020USD ($)
Commitments And Contingencies [Line Items]
Rent expense	$ 159	$ 105	$ 264	$ 215
Long-term supply contracts costs	$ 24,123	$ 22,624	$ 47,378	$ 42,689
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
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. 27, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021 (remaining twenty-six weeks)	$ 725
2022	1,476
2023	1,254
2024	471
Thereafter	454
Total	$ 4,380

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	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Related Party Transaction [Line Items]
Proceeds from exercise of warrant								$ 282
Promissory notes repaid		$ 800
Interest income with promissory notes					$ 0	$ 5	$ 0	13
Sandpebble Builders Preconstruction, Inc
Related Party Transaction [Line Items]
Paid to related party					$ 326	$ 135	$ 625	$ 358
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