Jones Soda Q1 revenue +58% to $4.5M; net loss widens to $1.7M on cannabis spend

JONES SODA CO.

Revenue $4.5M vs $2.9M YoY (+58%); gross margin improved 40 bps to 27.3%.
Net loss $1.7M ($0.02/sh) vs $0.7M ($0.01/sh); Adj. EBITDA -$1.1M vs -$0.6M.
Cannabis-related expenses $0.8M; Mary Jones launch postponed to Q2 2022.
Cash $11.9M after $11.0M raised in Pinestar Gold concurrent financing.
Signed binding LOI with Simply Better Brands; 7-Eleven Slurpee program announced.

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