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The Vita Coco Company, Inc. (NASDAQ: COCO) is a pioneering force in the functional beverage industry, renowned for its flagship product, Vita Coco Coconut Water. Since its inception in 2004, the company has revolutionized the beverage market by introducing coconut water as a mainstream, premium lifestyle drink. Today, Vita Coco is a global brand with a presence in over 30 countries, celebrated for providing delicious, electrolyte-rich hydration.
Headquartered in New York City, The Vita Coco Company has diversified its product range to include coconut oil, coconut milk, and sparkling coconut water. In addition to Vita Coco, the company's product portfolio features several other brands such as Runa, a clean energy drink; Ever & Ever, a sustainable enhanced water; and PWR LIFT, a protein-infused water. These product offerings cater to a broad spectrum of consumer needs, from hydration and nutrition to wellness and fitness.
The company's commitment to environmental and social initiatives is demonstrated through The Vita Coco Project, launched in 2014. This project aims to support and empower coconut sourcing communities by distributing seedlings and trees, training farmers in regenerative agriculture, and constructing educational facilities. A recent partnership with Brazilian environmental nonprofit Apremavi underscores the company's dedication to global reforestation and biodiversity protection.
Despite its impressive growth, The Vita Coco Company remains true to its entrepreneurial roots, fostering a 'can-do' culture that continually seeks to unlock the full potential of the coconut. Financially, the company has shown robust performance, with a 15% net sales growth and a net income of $47 million in 2023. Its strategic initiatives and strong retail execution have driven category and brand growth, positioning the company for continued success in the years ahead.
To learn more about The Vita Coco Company and its commitment to creating healthier and more sustainable beverage options, visit vitacoco.com.
The Vita Coco Company, a leading high-growth platform of better-for-you beverage brands, will participate in the Goldman Sachs Global Staples Forum on May 14, 2024. The Company's CEO, Martin Roper, will engage in a fireside chat during the event.
The Vita Coco Company reported positive financial results for the first quarter of 2024, with a 2% increase in net sales to $112 million. The company's net income rose to $14 million, while Non-GAAP Adjusted EBITDA increased to $21 million. Gross profit also saw a significant increase, and the company raised its full-year guidance, expecting net revenue between $500-$510 million and Adjusted EBITDA between $76-$82 million.
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