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Jones Soda Co. (JSDA) is headquartered in Seattle, Washington and is a leading craft soda manufacturer that markets and distributes premium beverages under the Jones Soda, Jones Zilch, and Jones Stripped brands. Known for its variety of flavors, high-quality ingredients, and innovative labeling techniques, Jones Soda offers a diverse product line with options for everyone. Their products, including cane sugar soda, zero-calorie soda, and naturally sweetened sparkling beverages, are sold primarily in traditional beverage retailers across North America. Additionally, Jones Soda has expanded its offerings to include cannabis-infused products under the Mary Jones brand.
Jones Soda Co. (OTCQB: JSDA) has entered a sponsorship agreement with UFC Women's Bantamweight Champion Julianna Peña, enhancing their brand visibility and marketing efforts. As part of the collaboration, Peña will promote Jones Soda during media appearances and on social media, wearing the company’s logo on her fight apparel. This partnership aims to leverage Peña's popularity and authentic brand alignment with Jones Soda's bold identity, contributing to the company's growth strategy.
Jones Soda Co. (OTCQB: JSDA) announced the promotion of Eric Chastain to president of its new Jones Soda Beverage Division. This aligns with the company's strategy to expand into the cannabis-infused beverage and edibles market, as previously announced in July. Chastain, a veteran of the company since 2001, aims to leverage brand equity while continuing to drive growth in its core soda business. This shift marks an executive expansion, including the recent appointment of a chief marketing officer, in preparation for these new ventures.
Jones Soda Co. (JSDA) reported its third-quarter results for 2021, marking its fifth consecutive quarter of revenue growth. Revenue increased by 29% to $4.6 million, with a gross profit margin improvement to 32%. The net loss decreased significantly to $59,000, compared to $450,000 a year earlier. The company also plans to launch a portfolio of cannabis products in Q1 2022, enhancing its market presence. Cash reserves reached $5.9 million, up from $4.6 million at the end of 2020, signaling improved financial stability.
Jones Soda Co (OTCQB: JSDA) announces the addition of 210 Meijer stores across six Midwestern states, enhancing its retail presence. This agreement allows Meijer to stock Jones Soda's top five flavors and offers flexibility for introducing 4-packs and 12-count Variety Packs. With a restored partnership, Jones Soda aims to build its brand and meet growth targets following a previous collaboration from 2004 to 2016. Initial shipments began this month, extending the brand's reach to consumers in Michigan, Illinois, Indiana, Kentucky, Ohio, and Wisconsin.
Jones Soda Co. (OTCQB: JSDA) will host a conference call on November 4, 2021, at 4:30 p.m. Eastern time to discuss its third-quarter financial results for the period ending September 30, 2021. A press release detailing these results will be issued before the call. Investors are invited to submit questions via email by November 3, 2021. The call will be accessible via a toll-free number and will also be available for replay from 7:30 p.m. Eastern time on the same day through November 11, 2021.
Jones Soda Co. (OTCQB: JSDA) has entered into a definitive agreement to acquire Pinestar Gold Inc. as per a previously announced term sheet. The arrangement includes exchanging one Jones share for each Pinestar share on a post-consolidation basis. Pinestar plans to raise at least $8 million through a concurrent offering to fund expansions into cannabis-infused beverages and edibles. The deal, expected to close shortly after Pinestar's special meeting in December 2021, is subject to various approvals, including shareholder and regulatory consents.
Jones Soda Co (OTCQB: JSDA) has appointed Bohb Blair as its first chief marketing officer, a new role aimed at supporting the upcoming launch of a cannabis-infused beverage and edibles division. With over 20 years of marketing experience, including significant roles at Starcom and various creative agencies, Blair is expected to enhance brand management and marketing efforts. This strategic move aligns with Jones Soda's plans for expansion into the cannabis sector, which was previously announced in July. Blair’s appointment is effective immediately.
Jones Soda Co (OTCQB: JSDA) has launched a new series of augmented reality (AR) labels featuring the iconic fortune teller character Zoltar. These AR labels will showcase humorous fortunes through short videos accessed via the Jones Soda app and phone cameras. The labels will appear on popular flavors like Orange and Cream, Cream Soda, and Root Beer, aiming to engage younger consumers and enhance brand storytelling. This initiative, supported by a partnership with Characters Unlimited, is a key element in Jones Soda's strategy to attract new customers.
Jones Soda Co. (JSDA) reported a notable 44% increase in second-quarter revenue, reaching $4.5 million, compared to $3.1 million a year ago.
This marks the company's fourth consecutive quarter of revenue growth and its first profitable quarter since 2016, with a net income of $309,000.
Gross profit margin increased to 31.3% from 18.9%.
Management attributes this success to strategic initiatives, including product expansion in major retail chains.
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