Lifeway Foods Inc. reported net sales were $186.8 million for the year ended Dec. 31, an increase of $26.7 million or 16.7% versus prior year. The net sales increase was primarily driven by higher volumes of Lifeway's branded drinkable kefir.

Gross profit as a percentage of net sales was 26% for the year ended December 31, 2024. The ompany reported net income of $9 million or $0.61 per basic and $0.60 per diluted common share for the year ended Dec. 31.

"I am pleased to report another record year of net sales for Lifeway, spearheaded by the continued, strong volume growth of our flagship drinkable Lifeway Kefir," said Julie Smolyansky, President and CEO of Lifeway. "After an extremely successful year in 2023 where we saw sales grow by more than 13%, that growth accelerated in 2024 during which Lifeway delivered further year-over-year growth of 17% to achieve annual net sales of $186.8 million.

"Our remarkable results were capped off by our second highest-ever quarterly net sales of $46.9 million in the fourth quarter, marking our 21st consecutive quarter of year-over-year growth. This sustained performance underscores the loyalty of our expanding customer base, and the effectiveness of our sales and marketing strategies. We recognize the tailwind from growing consumer interest in protein-rich foods with probiotics and bioavailable nutrients and have meaningfully invested in our core branded offerings to drive trial and accelerate velocities to capture a greater share of that demand," she added.

Smolyansky continued: "The consumer focus on health and wellness continues to grow, and we remain focused on capitalizing on that heightened interest. As we build for the future, I'd like to celebrate the remarkable achievements our team has made in developing a state-of-the-art facility in Waukesha, Wisconsin. We are strategically investing this year to further boost our growth, and our scheduled upgrades at the Waukesha plant will almost double our production capacity and more than triple our bottling speed. We also expect to drive further operational efficiency across the business as we ship higher volumes of our products. To complement our improved production capabilities, we are accelerating our investments behind key product lines to further enhance our market leading position and broaden our brand awareness. 2024 was an excellent year for Lifeway, and I am confident that we are extremely well positioned to deliver another phenomenal performance in 2025."