Jones Soda Q2 revenue up 35% to $6M, net loss $1.4M; cannabis launch beats expectations

JONES SODA CO.

2022-Q2 EPS reported -$0.04 revenue$10,538,000

Revenue grew 35% to $6.0M vs $4.5M YoY; net loss of $1.4M ($0.02 loss per share) vs net income $0.3M.
Gross margin fell to 28.0% from 31.3% due to inflation, higher material/freight costs, and product mix.
Adjusted EBITDA -$1.1M (includes $1.2M cannabis launch costs) vs +$0.4M a year ago.
Cash increased to $9.3M from $4.7M at Dec 2021; no outstanding convertible debentures or material debt.
Initial Mary Jones cannabis product launch receives enthusiastic feedback and beats internal expectations.

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