---
schema_version: "secwatch.filing_event.v1"
accession: "0001482981-23-000043"
form_type: "8-K"
ticker: "COCO"
cik: "0001482981"
company_name: "Vita Coco Company, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:55:13.067176+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vita Coco Q1 net sales +14% to $110M; raises FY23 guidance on margin recovery

## Summary
- Net income of $7M ($0.12 diluted EPS) vs $2M ($0.04) a year ago; Adj. EBITDA of $9M vs -$3M.
- Gross margin improved to 30.7% from 19.8% on lower transportation costs and pricing actions.
- Vita Coco Coconut Water volumes +15% CE; net sales +17% driven by mid-teens volume growth.
- FY23 outlook raised: net sales growth 9-12% (prev. 9-11%); Adj. EBITDA $54-59M (prev. $52-58M).
- Cash balance $29M, no revolver borrowings; inventories down to $64M from $84M at year-end.

## SEC filing metadata
- accession: 0001482981-23-000043
- form_type: 8-K
- ticker: COCO
- cik: 0001482981
- company_name: Vita Coco Company, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1482981/000148298123000043/0001482981-23-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1482981/000148298123000043/coco-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001482981-23-000043
- JSON: https://secwatch.observer/filing/0001482981-23-000043.json
- Plain text: https://secwatch.observer/filing/0001482981-23-000043.txt

## Key facts
- Earnings Releases
  Vita Coco Company, Inc. reported the three months ended March 31, 2023 results: revenue $110 million, net income $7 million, EPS $0.12 per diluted share. Guidance raised.
  - Period: the three months ended March 31, 2023
  - Revenue: $110 million
  - Net income: $7 million
  - EPS: $0.12 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: as expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- THE VITA COCO COMPANY REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS First Quarter Net Sales Increased 14% to $110 million Driven by Vita Coco Coconut Water Growth of 17% on Strong Mid-teens Volume Growth First Quarter Gross Margin of 31% Improving from 20% in the Prior Year First Quarter First
  evidence_url: https://www.sec.gov/Archives/edgar/data/1482981/000148298123000043/0001482981-23-000043-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.