Zevia Q1 net sales +13.8% to $43.3M; gross margin 46.4%; net loss narrows to $2.9M

Zevia PBC

2023-Q1 EPS reported -$0.04 revenue$43,300,000

Net loss of $2.9M vs $17.5M loss in Q1 2022; diluted EPS loss $0.04 vs $0.28.
Gross profit margin 46.4%, up 470 bps YoY; strongest quarterly margin as public company.
Adjusted EBITDA loss of $0.5M, improvement from $8.3M loss in prior year.
Cash and equivalents $56.0M, no debt; $20M unused credit line.
FY 2023 net sales guidance maintained at $180M-$190M (10-16% YoY growth).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Zevia PBC reported first quarter ended March 31, 2023 results: revenue $43.3 million, net income $2.9 million, EPS $0.04 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $43.3 million
Net income: $2.9 million
EPS: $0.04 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights • Net sales increased 13.8% year-over-year to $43.3 million • Unit volume decreased 2.7% year-over-year to 3.3 million equivalized cases • Gross profit margin of 46.4%, the strongest gross margin percentage of any quarterly period to date as a public company • Net loss was $2.9 million, including $2.4 million of non-cash equity-based compensation expense, the strongest quarter to date as a public company • Adjusted EBITDA loss was $0.5 million (1) , the strongest quarter to date as a public company • Loss per share was $0.04 per diluted share to Zevia’s Class A common stockholders

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Source: SEC EDGAR

accession 0000950170-23-019127

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