Jones Soda Co. ( (JSDA) ) has released its Q3 earnings. Here is a breakdown of the information Jones Soda Co. presented to its investors.
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Jones Soda Co., headquartered in Seattle, is a beverage innovation company known for its unique craft sodas and cannabis-infused beverages under the Jones and Mary Jones brands.
In its third quarter of 2024, Jones Soda reported a decline in revenue to $4.2 million from $4.5 million in the previous year, attributed mainly to a Canadian distributor transition and the loss of a U.S. retail customer. The company experienced a net loss of $2.6 million, an increase from the previous year, primarily due to higher operating expenses and reduced gross margins.
Key financial highlights include a decrease in gross margin from 32.9% to 21.2%, and an adjusted EBITDA loss of $2.2 million compared to $0.9 million last year. Notably, the Mary Jones brand saw revenue growth, bringing in $800,000 compared to $220,000 the previous year. Despite the financial challenges, the company launched several new products, including a prebiotic beverage line and new cannabis-infused flavors, while winning accolades for its THC-infused sodas.
Looking ahead, Jones Soda’s management is focused on improving operational efficiency, expanding distribution networks, and driving innovation to support sustainable growth. The company remains committed to enhancing shareholder value while navigating the challenges of the beverage market.
