Lifeway Foods, Inc. (LWAY)
Nasdaq · Dairy Products · Manufacturing · CIK 814586 · fiscal year ends in Dec
Closing price $22.89 on 30 Oct 2026; 52-week range $17.80 to $32.33.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $242.4M
- Revenue growth
- 25.6%
- Net income, last twelve months
- $10.9M
- Earnings per share
- $0.70
- Gross margin
- 25.6%
- Operating margin
- 6.5%
- Net margin
- 4.5%
- Free cash flow
- -$27.3M
- Return on equity
- 12.9%
- Market value
- $345.8M
- Price to earnings
- 32.7x
- Cash
- $7.1M
- Debt
- $22.1M
- Debt to equity
- 0.26
- Shares outstanding
- 15.1M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $212.5M | $16.2M | $13.9M | $0.89 | -$16.4M | 10-K filed 17 Mar 2026 |
| FY2024 | 31 Dec 2024 | $186.8M | $13.9M | $9.0M | $0.60 | $6.3M | 10-K filed 14 Mar 2025 |
| FY2023 | 31 Dec 2023 | $160.1M | $17.0M | $11.4M | $0.75 | $12.6M | 10-K filed 20 Mar 2024 |
| FY2022 | 31 Dec 2022 | $141.6M | $2.3M | $924.0K | $0.06 | $538.0K | 10-K filed 27 Mar 2023 |
| FY2021 | 31 Dec 2021 | $119.1M | $5.9M | $3.3M | $0.21 | $3.6M | 10-K filed 21 Jul 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $66.9M | $127.0K | $0.01 |
| Q1 FY2026 | 31 Mar 2026 | $63.0M | $4.7M | $0.30 |
| Q4 FY2025 | 31 Dec 2025 | $55.4M | $2.5M | $0.16 |
| Q3 FY2025 | 30 Sep 2025 | $57.1M | $3.5M | $0.23 |
| Q2 FY2025 | 30 Jun 2025 | $53.9M | $4.2M | $0.28 |
| Q1 FY2025 | 31 Mar 2025 | $46.1M | $3.5M | $0.23 |
| Q4 FY2024 | 31 Dec 2024 | $46.9M | -$160.0K | $0.00 |
| Q3 FY2024 | 30 Sep 2024 | $46.1M | $3.0M | $0.19 |
Company events
The newest 8-K filings of 159 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 13 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 7 Jul 2026 | 8-K | Material agreement, New debt | 1.01, 2.03, 9.01 |
| 18 Jun 2026 | 8-K | Shareholder vote, Investor update | 5.07, 7.01, 9.01 |
| 5 Jun 2026 | 8-K | Agreement ended, Shareholder rights change | 1.02, 3.03 |
| 3 Jun 2026 | 8-K | Other events | 8.01 |
| 14 May 2026 | 8-K | Material agreement, Other events | 1.01, 8.01, 9.01 |
| 14 May 2026 | 8-K | Results | 2.02, 9.01 |
| 1 Apr 2026 | 8-K | Results | 2.02, 9.01 |
| 17 Mar 2026 | 8-K | Results | 2.02, 9.01 |
| 11 Mar 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 8 Jan 2026 | 8-K | Results | 2.02, 9.01 |
| 31 Dec 2025 | 8-K | Shareholder vote | 5.07 |
Every filing
The newest filings with the SEC of 476 held.
| Filed | Form | Period |
|---|---|---|
| 13 Aug 2026 | 10-Q | 30 Jun 2026 |
| 13 Aug 2026 | 8-K | 13 Aug 2026 |
| 7 Jul 2026 | 8-K | 30 Jun 2026 |
| 18 Jun 2026 | 8-K | 17 Jun 2026 |
| 5 Jun 2026 | 8-K | 5 Jun 2026 |
| 3 Jun 2026 | 8-K | 3 Jun 2026 |
| 3 Jun 2026 | DEFA14A | – |
| 14 May 2026 | 8-K | 14 May 2026 |
| 14 May 2026 | 10-Q | 31 Mar 2026 |
| 14 May 2026 | 8-K | 14 May 2026 |
| 30 Apr 2026 | DEFA14A | – |
| 30 Apr 2026 | DEF 14A | 17 Jun 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 13 Oct 2026 | Smolyansky Edward, 10% owner | Sale outside a trading plan | 30,000 | $22.64 | $679.2K | 864,793 | 15 Oct 2026 |
| 6 Oct 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 50,000 | $20.80 | $1.0M | 2,451,792 | 6 Oct 2026 |
| 5 Oct 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 36,202 | $21.01 | $760.5K | 2,401,792 | 6 Oct 2026 |
| 2 Oct 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 17,482 | $21.09 | $368.7K | 2,365,590 | 6 Oct 2026 |
| 19 Aug 2026 | Smolyansky Julie, CEO, President and Secretary | Purchase | 2,000 | $25.26 | $50.5K | 2,214,095 | 19 Aug 2026 |
| 17 Aug 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 35,952 | $24.78 | $890.9K | 2,348,108 | 17 Aug 2026 |
| 14 Aug 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 15,000 | $24.69 | $370.4K | 2,312,156 | 17 Aug 2026 |
| 13 Aug 2026 | Divisadero Street Capital Management, Lp, 10% owner | Purchase | 195,616 | $24.87 | $4.9M | 2,297,156 | 17 Aug 2026 |
| 14 Aug 2026 | Smolyansky Edward, 10% owner | Sale outside a trading plan | 29,931 | $24.89 | $745.0K | 939,862 | 14 Aug 2026 |
| 14 Aug 2026 | Smolyansky Edward, 10% owner | Sale outside a trading plan | 45,038 | $25.82 | $1.2M | 894,824 | 14 Aug 2026 |
| 14 Aug 2026 | Smolyansky Edward, 10% owner | Sale outside a trading plan | 31 | $26.50 | $822 | 894,793 | 14 Aug 2026 |
| 12 Aug 2026 | Smolyansky Edward, 10% owner | Sale outside a trading plan | 35,000 | $28.74 | $1.0M | 969,793 | 14 Aug 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 13 Oct 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 30,000 | $679.1K | 13 Oct 2026 |
| 14 Aug 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 75,000 | $1.9M | 14 Aug 2026 |
| 12 Aug 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 35,000 | $1.0M | 12 Aug 2026 |
| 22 Jul 2026 | SMOLYANSKY LUDMILA, AFFILIATE | 100,000 | $3.1M | 22 Jul 2026 |
| 15 Jul 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 6,916 | $221.5K | 15 Jul 2026 |
| 7 Jul 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 39,098 | $1.1M | 7 Jul 2026 |
| 6 Jul 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 7,984 | $237.8K | 6 Jul 2026 |
| 30 Jun 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 50,000 | $1.5M | 30 Jun 2026 |
| 29 Jun 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 14,542 | $438.1K | 29 Jun 2026 |
| 26 Jun 2026 | SMOLYANSKY EDWARD, 10% Stockholder | 111,548 | $3.3M | 26 Jun 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 27 May 2026 | Citadel Advisors LLC | 13G | 5.8% | 884.8K |
| 20 May 2026 | Ludmila Smolyansky | 13D amended | 19.7% | 3.0M |
| 20 May 2026 | Danone S.A. | 13D amended | 0% | 0 |
| 18 May 2026 | Divisadero Street Capital Management, LP | 13G amended | 13.8% | 2.1M |
| 13 Feb 2026 | Divisadero Street Capital Management, LP | 13G amended | 8.9% | 1.3M |
| 18 Nov 2025 | Ludmila Smolyansky | 13D amended | 20% | 3.1M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 670.2K | -2.18% | 4.55 |
| 30 Sep 2026 | 685.1K | +33.55% | 3.92 |
| 15 Sep 2026 | 513.0K | +20.27% | 5.21 |
| 31 Aug 2026 | 426.5K | +15.11% | 2.88 |
| 14 Aug 2026 | 370.6K | +20.06% | 1.95 |
| 31 Jul 2026 | 308.6K | -8.38% | 3.05 |
| 15 Jul 2026 | 336.9K | -27.33% | 1.3 |
| 30 Jun 2026 | 463.6K | +9.96% | 1.86 |
Funds that hold it
From each fund's latest Form 13F.
110 funds held it at 30 Jun 2026: 67 added and 13 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Divisadero Street Capital Management, LP | 2,101,540 | $62.7M | +692,772 |
| Citadel Advisors LLC | 930,109 | $27.8M | +858,228 |
| Wellington Management Group LLP | 585,100 | $17.5M | +585,100 |
| Renaissance Technologies LLC | 377,171 | $11.3M | +8,500 |
| Vanguard Capital Management LLC | 366,771 | $10.9M | +104,710 |
| BlackRock, Inc. | 322,184 | $9.6M | +44,434 |
| Pillsbury Lake Capital LLC | 291,709 | $8.7M | +291,709 |
| Dimensional Fund Advisors LP | 258,374 | $7.7M | +22,664 |
| Two Sigma Investments, LP | 228,136 | $6.8M | +108,507 |
| AWM Investment Company, Inc. | 223,000 | $6.7M | +223,000 |