Jones Soda Q1 revenue $3.9M loss improves, margins up 200bps

JONES SODA CO.

Revenue down to $3.9M vs $4.5M YoY due to one-time stocking event in prior year.
Gross margin expanded 200 bps to 29.3%; net loss narrowed to $1.4M from $1.7M.
Adjusted EBITDA unchanged at -$1.1M; operating expenses reduced.
Core bottled soda expanded: Target store count up, Kroger national Root Beer listing, Meijer velocity exceeded expectations.
Cannabis segment Mary Jones grows in CA with Grape and Cola flavors planned; expansion in WA, MI, NV on track.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JONES SODA CO. reported the first quarter ended March 31, 2023 results: revenue $3.9 million, net income $1.4 million, EPS $(0.01) per share.

Period: the first quarter ended March 31, 2023
Revenue: $3.9 million
Net income: $1.4 million
EPS: $(0.01) per share
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Summary vs. Year-Ago Quarter Revenue was $3.9 million compared to $4.5 million. Gross profit as a percentage of revenue increased 200 basis points to 29.3% compared to 27.3%. Net loss improved to $1.4 million, or $(0.01) per share, compared to a net loss of $1.7 million, or $(0.02) per share.

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JONES SODA CO. filing history →

Source: SEC EDGAR

accession 0001171843-23-002892

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