Vital Farms sells pasture-raised eggs and butter to U.S. consumers who pay a premium for ethically sourced food. Shell eggs are the core business and the dominant revenue driver, with butter as a fast-growing secondary product. Vital Farms sources eggs from a network of more than 600 contracted family farms in the U.S. "Pasture Belt," where hens have at least 108 square feet of outdoor access per bird under Certified Humane standards. Butter is sourced from grass-fed Irish dairy farms and processed via a U.S. co-manufacturer. Vital Farms sells through natural retailers like Whole Foods and Sprouts, and mainstream retailers like Walmart, Kroger, and Target, with mainstream accounting for roughly 62% of retail dollar sales. Products are available in more than 24,000 stores, with a small foodservice channel still in early stages. Vital Farms processes eggs at its owned facility, Egg Central Station (ECS) in Springfield, Missouri, which is capable of packing more than 7.5M eggs per day. A second facility in Seymour, Indiana is under construction and expected to be operational in early 2027. Volume growth is the primary earnings driver and is directly constrained by farm count and processing capacity. Gross margins benefit from operating leverage at ECS when utilization is high. Vital Farms spends roughly 5% of net revenue on marketing to drive brand awareness and household trial, with current household penetration at roughly 10.5% of U.S. households against roughly 97% category penetration for eggs broadly.