Zevia Pbc Class A ( (ZVIA) ) has released its Q3 earnings. Here is a breakdown of the information Zevia Pbc Class A presented to its investors.
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Zevia PBC is a Delaware public benefit corporation that specializes in zero sugar, zero calorie, naturally sweetened beverages. The company is recognized for its plant-based, clean-label products that are distributed across major retail channels in the U.S. and Canada.
The third quarter of 2024 report for Zevia PBC indicates a significant improvement in financial performance, with a net loss reduced to $2.8 million and an adjusted EBITDA loss reduced to $1.5 million. The company also expanded its distribution reach to over 4,300 Walmart stores.
Key financial highlights include a net sales decrease of 15.6% to $36.4 million, primarily due to lost distribution in certain channels. However, the gross profit margin improved to 49.1%, and selling and marketing expenses were reduced significantly. The company achieved $15 million in annual cost savings through its Productivity Initiative.
Looking ahead, Zevia expects to resume net sales growth in the fourth quarter, driven by its expanded partnership with Walmart. The company remains focused on brand marketing, distribution expansion, and product innovation, aiming for sustainable growth in the natural soda category.
