CWGL on OTC

Crimson Wine Group, Ltd

Crimson is in the business of producing and selling luxury wines (i.e., wines that retail for over $16 per 750ml bottle).4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerCWGL on OTC2
  • IndustryBeverages2
  • HeadquartersNapa, United States2
  • Incorporated inDE3
  • Business address5901 Silverado Trail, Napa, Ca 945583
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI254900L67L3ONFDU2R822
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 22559582

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Crimson is in the business of producing and selling luxury wines (i.e., wines that retail for over $16 per 750ml bottle). Crimson is headquartered in Napa, California, and through its wholly-owned subsidiaries, owns seven primary wine estates and brands: Pine Ridge Vineyards, Archery Summit, Chamisal Vineyards, Seghesio Family Vineyards, Double Canyon, Seven Hills Winery and Malene Wines.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

47.2%Gross margin5
-5.7%Operating margin5
0.9%Net margin5
-10.8%Revenue growth, 20255
0.3%Return on equity5
0.08×Debt to equity5
-$2.5MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Wholesalers brought in 57% of the revenue Crimson Wine Group, Ltd broke down this way in fiscal 2025.

  1. Wholesalers$35.5M557%down 14% from 2024
  2. Direct To Consumers$26.4M543%down 6% from 2024
Business segments by year
Business segments20242025
Wholesalers$41.1M$35.5M
Direct To Consumers$28.0M$26.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue51¢$34.4M
  • Selling, general and admin48¢$32.1M
  • Income tax0¢$263.0K
  • Profit1¢$613.0K

Out of $65.1M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending92¢$3.9M
  • Share buybacks8¢$351.0K

Out of $1.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue6789105$65.1M in 2025−3% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $67.1M$67.1M20192020: $64.1M$64.1M2020−5%2021: $68.9M$68.9M2021+8%2022: $74.2M$74.2M2022+8%2023: $72.4M$72.4M2023−2%2024: $73.0M$73.0M2024+1%2025: $65.1M$65.1M2025−11%
Gross profit6789105$30.7M in 2025+22% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $25.1M$25.1M20192020: $19.7M$19.7M2020−22%2021: $30.1M$30.1M2021+53%2022: $32.8M$32.8M2022+9%2023: $33.7M$33.7M2023+3%2024: $35.1M$35.1M2024+4%2025: $30.7M$30.7M2025−12%
Operating income6789105-$3.7M in 2025−48% since 2019
-$10.0M-$5.0M0$5.0M2019: -$7.1M-$7.1M20192020: -$8.9M-$8.9M2020+25%2021: $244.0K$244.0K20212022: $2.0M$2.0M2022+707%2023: $2.0M$2.0M2023+0%2024: $68.0K$68.0K2024−97%2025: -$3.7M-$3.7M2025
Net income6789105$613.0K in 2025
-$7.5M-$5.0M-$2.5M0$2.5M$5.0M2019: -$5.7M-$5.7M20192020: -$6.4M-$6.4M2020+13%2021: $3.2M$3.2M20212022: $1.1M$1.1M2022−66%2023: $3.1M$3.1M2023+190%2024: $851.0K$851.0K2024−73%2025: $613.0K$613.0K2025−28%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Net sales (net of excise taxes of $666 and $691, respectively)$65.1M$73.0M
Cost of sales$34.4M$37.9M
Gross profit$30.7M$35.1M
Sales and marketing$17.3M$18.6M
General and administrative$14.7M$15.6M
Total operating expenses$32.1M$34.2M
Net loss on disposal of property and equipment$1.1M$805.0K
Goodwill impairment$1.3M$0
(Loss) income from operations-$3.7M$68.0K
Interest expense, net-$741.0K-$781.0K
Other income, net$5.3M$1.8M
Total other income, net$4.6M$1.1M
Income before income taxes$876.0K$1.1M
Income tax provision$263.0K$270.0K
Net income$613.0K$851.0K
Basic weighted-average shares outstanding (in shares)20.6M shares20.8M shares
Fully diluted weighted-average shares outstanding (in shares)20.6M shares20.8M shares
Basic earnings per share (in dollars per share)$0.03$0.04
Fully diluted earnings per share (in dollars per share)$0.03$0.04
Excise taxes$666.0K$691.0K

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Leadership

Who has led Crimson Wine Group, Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Erle Martin2013
  2. Patrick M. Delong2014–2019
  3. Nicolas Michel Eric Quille2019
  4. Jennifer L. Locke2019–2024

President

  1. Erle Martin2013
  2. Patrick M. Delong2015–2019
  3. Nicolas Michel Eric Quille2019

Chief financial officer

  1. Patrick M. Delong2014–2015
  2. Shannon McLaren2015–2016
  3. Karen L. Diepholz2018–2021
  4. Kimberly A. Benson2023
  5. Adam D. Howell2023

Chief operating officer

  1. Patrick M. Delong2014
  2. Nicolas Michel Eric Quille2018–now
201520202025
Board members and other officers (15)

Timeline

  1. Dec 6, 2019New chief executive Jennifer L. Locke becomes CEO14
  2. Aug 27, 2019New chief executive Nicolas Michel Eric Quille becomes CEO13
  3. Nov 13, 2014New chief executive Patrick M. Delong becomes CEO15
  4. Feb 5, 2013New chief executive Erle Martin becomes CEO16
  5. Feb 28, 1991Founded Crimson Wine Group, Ltd is founded2

Filings

89 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 21 major events, 19 insider forms, 13 large holders, 16 other. The latest 20:

  1. Aug 6, 202610-Q EDGAR
  2. Jul 28, 20268-K EDGAR
  3. Jun 29, 2026SCHEDULE 13D/A EDGAR
  4. Jun 1, 2026SCHEDULE 13D/A EDGAR
  5. Jun 1, 2026SCHEDULE 13D/A EDGAR
  6. May 28, 2026ARS EDGAR
  7. May 28, 2026DEFA14A EDGAR
  8. May 28, 2026DEF 14A EDGAR
  9. May 26, 20264 EDGAR
  10. May 22, 20264 EDGAR
  11. May 7, 202610-Q EDGAR
  12. Mar 17, 202610-K EDGAR
  13. Feb 9, 20268-K EDGAR
  14. Feb 6, 2026SCHEDULE 13G/A EDGAR
  15. Nov 24, 20254 EDGAR
  16. Nov 24, 20254 EDGAR
  17. Nov 21, 20254 EDGAR
  18. Nov 17, 20254 EDGAR
  19. Nov 6, 202510-Q EDGAR
  20. Aug 7, 202510-Q EDGAR

The 89 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 14 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 22, 2026STEINBERG JOSEPH SDirectorBuy7,474$4.05$30.3KForm 4
May 21, 2026Quille Nicolas Michel EricChief Winemaking & COOBuy1,000$4.03$4.0KForm 4
Nov 20, 2025STEINBERG JOSEPH SDirectorBuy106,308$4.96$527.3KForm 4
Nov 20, 2025Cumming John D.DirectorBuy106,308$4.96$527.3KForm 4
Nov 19, 2025Rollins Colby A.DirectorBuy900$4.86$4.4KForm 4
Nov 14, 2025Quille Nicolas Michel EricChief Winemaking & COOBuy500$5.00$2.5KForm 4
Aug 19, 2024Alvarez-Peters Annette D.DirectorBuy625$6.05$3.8KForm 4
Mar 22, 2024Alvarez-Peters Annette D.DirectorBuy625$6.03$3.8KForm 4
Nov 22, 2023Alvarez-Peters Annette D.DirectorBuy625$5.90$3.7KForm 4
Aug 24, 2023Alvarez-Peters Annette D.DirectorBuy625$6.43$4.0KForm 4
Aug 17, 2023Tierney Luanne DupereDirectorBuy68$6.53$444Form 4
Nov 14, 2022Cumming John D.DirectorBuy171,300$6.25$1.1MForm 4
Nov 14, 2022STEINBERG JOSEPH SDirectorBuy171,300$6.25$1.1MForm 4
May 31, 2022Rollins Colby A.DirectorBuy1,000$7.57$7.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Elgethun Capital Management1,956,931$8.6M1.2%+195,605
Beck Mack & Oliver LLC1,367,472$6.0M0.1%−146,000
Lawson Kroeker Investment Management Inc/ne252,267$1.1M0.3%−1,670
MassMutual Private Wealth & Trust, FSB100$4420.0%No change
Horizon Financial Services, LLC28$1240.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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