Zevia reports record Q2 net sales of $34.4M but net loss widens; CEO takes $1 salary

Zevia PBC

2021-Q2 EPS reported -$0.20 revenue$65,046,000

Net sales $34.4M (+24% YoY), record high; gross margin 47% vs 50% due to higher trade discounts.
Net loss $0.7M ($0.30 diluted loss per share) vs net income $3.1M ($0.10 EPS) in Q2 2020.
Adjusted EBITDA loss $0.4M vs income $3.5M; selling & marketing expenses nearly doubled to $10.7M.
CEO Paddy Spence to forgo $306,820 annual salary and bonus, moving to $1 cash compensation effective Aug 1.
IPO completed July 26, raised $139.7M net; ESG metrics: eliminated 3K metric tons sugar and 44M plastic bottles.

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