Zevia PBC - ZVIA STOCK NEWS

Zevia PBC announced a significant expansion of its distribution network through Walmart, increasing from 800 to over 4,300 stores nationwide. The zero sugar, naturally sweetened beverage company has seen substantial growth in existing Walmart stores over the past two years. According to Numerator Shopper Metrics Data, consumers are purchasing 4x more Zevia products per household versus competitors. The Better-for-You soda category has reached $1 billion in sales. Zevia's portfolio includes 18 naturally sweetened zero sugar sodas, featuring popular flavors like Cola, Creamy Root Beer, and Vanilla Cola, all without artificial ingredients and at a more affordable price point compared to premium competitors.

Zevia (NYSE: ZVIA) reported Q3 2024 results with net sales of $36.4 million, down 15.6% year-over-year. Despite sales decline, the company showed improvements in several metrics: gross profit margin increased to 49.1%, net loss improved to $2.8 million, and Adjusted EBITDA loss reduced to $1.5 million. Loss per share was $0.04, improving from $0.16 year-over-year. Notably, Zevia expanded its distribution to over 4,300 Walmart stores, up from 800 previously. The company expects to achieve $15 million in annual cost savings through its Productivity Initiative and projects Q4 2024 net sales between $38-40 million.

Zevia (NYSE:ZVIA) has announced it will release its third quarter 2024 financial results on Wednesday, November 6, 2024, before the market opens. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Investors can access the webcast through Zevia's Investor Relations website, where a replay will be available for approximately 30 days. The earnings press release and supplemental financial disclosures will also be accessible on the company's investor website.

Zevia PBC (NYSE: ZVIA) has announced that it has regained compliance with the New York Stock Exchange's minimum stock price requirement. The company received a notice from the NYSE on October 1, 2024, confirming its compliance with the continued listing standard outlined in Section 802.01C of the NYSE Listed Company Manual.

Previously, on June 26, 2024, Zevia had received a noncompliance notice due to its Class A common stock's average closing price falling below $1.00 per share over a consecutive 30 trading-day period. However, as of September 30, 2024, the company's stock closed above $1.00 and maintained an average closing share price of at least $1.00 over the preceding 30 trading days, thus meeting the NYSE's requirements.

Zevia PBC (NYSE:ZVIA) has announced the appointment of Alexandre Ruberti to its Board of Directors, effective August 6, 2024. Ruberti brings extensive beverage industry experience, including 16 years in executive leadership roles at Red Bull. He currently serves as Managing Director Americas and General Manager USA at Waterdrop®, a company focused on disrupting the hydration industry.

Amy Taylor, President and CEO of Zevia, praised Ruberti's proven ability to develop strategies for sustainable growth in the beverage industry. Paddy Spence, Chair of the Board, highlighted Ruberti's deep industry experience and strong network as valuable assets for Zevia's next growth phase. Ruberti expressed enthusiasm for joining Zevia's board and contributing to the company's mission and growth strategy.

Zevia PBC (NYSE: ZVIA) reported Q2 2024 results with net sales of $40.4 million, exceeding guidance but down 4.3% year-over-year. The company faced a net loss of $7.0 million and an Adjusted EBITDA loss of $4.4 million. Gross profit margin decreased to 41.9%, impacted by inventory write-downs. Despite challenges, Zevia saw accelerating retail growth trends and double-digit growth in soda sales. The company's Productivity Initiative is now expected to deliver $12 million in annualized savings. Zevia reaffirmed its full-year 2024 guidance, projecting net sales between $158-$166 million, and expects Q3 2024 net sales of $37-$40 million.

Zevia PBC (NYSE:ZVIA) has announced that it will release its financial results for the second quarter ended June 30, 2024, on Wednesday, August 7, 2024, before the market opens. This will be followed by a conference call at 8:30 a.m. Eastern Time to discuss the results. Investors and interested parties can listen to the webcast of the conference call through the Investor Relations section of Zevia's website. A replay of the webcast will be available for approximately 30 days following the call. Additionally, a copy of the earnings press release and supplemental financial disclosures will be accessible on Zevia's investor relations website.

Zevia PBC (NYSE: ZVIA) announced it received a notice from the NYSE on June 26, 2024, indicating non-compliance with Section 802.01C due to its stock price averaging below $1.00 over 30 trading days. This notice doesn't result in immediate delisting. Zevia plans to reaffirm its intent to cure the deficiency within 10 business days and is considering options to regain compliance during a six-month cure period. Compliance can be regained if the closing share price reaches at least $1.00 at the end of any calendar month within this period. The notice doesn't impact Zevia's current listing, trading status, business operations, or SEC reporting requirements.

Zevia announced its first quarter 2024 results, highlighting a 10.4% decrease in net sales and unit volume, a gross profit margin of 45.7%, and a net loss of $7.2 million. The company reported a focused productivity initiative targeting cost benefits of $8-$12 million annually, amidst challenges faced in 2023. Zevia aims to re-energize growth in the latter part of the year by launching regional direct-store-delivery partnerships and driving towards profitability.