Zevia Q1 net sales +24% to $38M; net loss widens to $17.5M; CFO departs

Zevia PBC

2022-Q1 EPS reported -$0.30 revenue$38,034,000

Net sales $38.0M, up 24% YoY; unit volume +21% to 3.4M equivalized cases.
Gross margin fell to 38.4% from 46.2% due to inflation and mix; net loss $17.5M ($0.30/share).
Adjusted EBITDA loss $8.3M vs. +$0.5M a year ago; includes $8.9M non-cash equity comp.
FY2022 guidance reaffirmed: net sales $177M-$182M (+28-32%); Q2 seen at $41M-$43M.
CFO Bill Beech departed May 6; severance of $280K over 12 months plus health benefits.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

William “Bill” D. Beech

Chief Financial Officer

ZVIA · Zevia PBC

Effective: 2022-05-06
Filed: May 12, 2022, 7:59 PM ET

As previously announced, William “Bill” D. Beech, the Company’s former Chief Financial Officer, departed the Company on May 6, 2022 (the “Separation Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

William “Bill” D. Beech departed as Chief Financial Officer at Zevia PBC.

Action: departed
Role: Chief Financial Officer

Exact text from the filing

As previously announced, William “Bill” D. Beech, the Company’s former Chief Financial Officer, departed the Company on May 6, 2022 (the “Separation Date”).

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Zevia PBC filing history →

Source: SEC EDGAR

accession 0000950170-22-009461

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