secwatch.observer — SEC 8-K summary
======================================

Issuer:     Vita Coco Company, Inc. (COCO)
CIK:        0001482981
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001482981-24-000060
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vita Coco Q1 net income doubles to $14M ($0.24 EPS); raises FY guidance to $500-510M revenue
--------------------------------------------------------------------------------

- Net sales $112M (+2% YoY); gross margin 42.2% vs 30.7% a year ago.
- Net income $14M ($0.24 diluted EPS) vs $7M ($0.12) in Q1 2023.
- Adjusted EBITDA $21M vs $9M; company raised FY 2024 Adjusted EBITDA guidance to $76-82M.
- Cash $123M, no debt; $10M of shares repurchased under $40M buyback program through Mar 31.
- Management cites lower transportation costs and higher net pricing for margin expansion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1482981/000148298124000060/0001482981-24-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1482981/000148298124000060/coco-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001482981-24-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer