Zevia Q3 net sales down 2.6% to $43.1M; net loss widens to $11.3M

Zevia PBC

2023-Q3 EPS reported -$0.27 revenue$128,630,000

Net sales $43.1M vs $44.2M YoY; unit volume down 8.2% to 3.3M cases.
Gross margin improved to 45.4% (+2.1pp); net loss $11.3M ($0.16/sh) vs $9.2M loss.
Adjusted EBITDA loss $9.1M vs $2.1M loss a year ago; selling & marketing costs surged.
FY 2023 net sales guidance narrowed to $165M-$168M; Q4 projected $36M-$39M.
Cash $38.5M, no debt; supply chain logistics challenges cited for volume decline.

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 third quarter ended September 30, 2023 results: revenue $43.1 million, net income $11.3 million, EPS $0.16 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $43.1 million
Net income: $11.3 million
EPS: $0.16 per diluted share
Result: reported results

Exact text from the filing

Net sales decreased 2.6% year over year to $43.1 million • Unit volume decreased 8.2% year over year to 3.3 million equivalized cases • Gross profit margin was 45.4%, up 2.1 percentage points year over year • Net loss was $11.3 million, including $1.9 million of non-cash equity-based compensation expense • Adjusted EBITDA loss was $9.1 million (1) • Loss per share was $0.16 per diluted share to Zevia’s Class A Common stockholders

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Source: SEC EDGAR

accession 0000950170-23-059761

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