Zevia Q1 net sales $38.8M (-10.4%); net loss $7.2M; launches DSD and cost-cutting plan

Zevia PBC

2024-Q1 EPS reported -$0.10 revenue$38,799,000

Net sales $38.8M, down 10.4% YoY; unit volume fell 10.4% to 3.0M cases.
Net loss of $7.2M ($0.10 diluted loss per share) vs $2.9M loss YoY.
Gross margin 45.7%, down 0.8pp YoY but up 5.0pp from Q4 2023.
Launched regional direct-store-delivery partnerships in Pacific Northwest; first phase of route-to-market shift.
Productivity initiative aims for $8M-$12M annualized cost savings; FY 2024 net sales guidance $158M-$166M.

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, 2024 results: revenue $38.8 million, net income Net loss was $7.2 million, EPS ($0.10) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $38.8 million
Net income: Net loss was $7.2 million
EPS: ($0.10) per diluted share
Result: reported results

Exact text from the filing

beverages across usage occasions today reported results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights • Net sales decreased 10.4% year over year to $38.8 million • Unit volume decreased 10.4% year over year to 3.0 million equivalized cases • Gross profit margin was 45.7%, down 0.8 percentage points year over year but up 5.0 percentage

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Source: SEC EDGAR

accession 0000950170-24-055058

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