Vita Coco Q3 net sales $124M (+7% YoY); gross margin 26.3% improves sequentially; FY22 guidance $422-427M net sales

Vita Coco Company, Inc.

2022-Q3 EPS reported $0.19 revenue$335,796,000

Net sales $124M (+7% YoY); Vita Coco Coconut Water grew 14% with record revenue despite flavored SKU out-of-stocks.
GAAP net income $7M ($0.13/diluted share) vs $13M ($0.24) in Q3 2021; adjusted EBITDA $12M vs $21M.
Gross margin 26.3% improved 90+ bps sequentially, down from 33% YoY on higher transportation costs; Q4 margin expected to improve further.
Full-year 2022 guidance: net sales $422-427M (11-12% growth), gross margin mid-20%’s, adjusted EBITDA $20-22M.
Cash $21M, debt $10M on revolver; shares outstanding 55.9M.

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

Vita Coco Company, Inc. updated its the three and nine months ended September 30, 2022 guidance (reaffirmed).

Period: the three and nine months ended September 30, 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On November 9, 2022, The Vita Coco Company, Inc. (the “Company”) issued a press release announcing financial results for the three and nine months ended September 30, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vita Coco Company, Inc. reported fiscal year 2022 results: revenue $422-427 million. Guidance reaffirmed.

Period: fiscal year 2022
Revenue: $422-427 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Expect net sales in the range of $422-427 million, representing a growth of approximately 11-12% compared to fiscal year 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vita Coco Company, Inc. reported the third quarter ended September 30, 2022 results: revenue $124 million, net income $7 million, EPS $0.13 per diluted share.

Period: the third quarter ended September 30, 2022
Revenue: $124 million
Net income: $7 million
EPS: $0.13 per diluted share
Result: reported results

Exact text from the filing

of 1933, as amended, except as expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- THE VITA COCO COMPANY REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS Net Sales of $124 Million, up 7% from Prior Year Driven by Strong 14% Growth of Vita Coco Coconut Water Gross Margin of 26.3% Represents Continued Sequential Improvement over 90 Basis Points from Prior

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Vita Coco Company, Inc. filing history →

Source: SEC EDGAR

accession 0001482981-22-000069

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