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Zevia PBC (Symbol: ZVIA) is a pioneering beverage company dedicated to disrupting the liquid refreshment industry with its innovative, zero-calorie, zero-sugar, and naturally sweetened products. Founded in 2007, Zevia was the first company to introduce zero-calorie soda sweetened with stevia, setting a new standard in the industry. Today, Zevia continues to lead the zero-calorie, naturally sweetened beverage category with a diverse portfolio that includes sodas, energy drinks, organic teas, mixers, kids' drinks, and sparkling water, all of which are Non-GMO Project Verified.
Zevia's mission is to support the health of individuals and communities by providing beverages that cater to health-conscious consumers seeking alternatives to traditional sugary drinks. The company's product range is available across the U.S. and Canada through a robust network of retailers spanning food, drug, mass, natural, and e-commerce channels. Zevia derives the majority of its revenue from the United States, underscoring its strong market presence and consumer trust.
Committed to innovation and sustainability, Zevia is continuously reimagining its product offerings to challenge the status quo. The company's relentless pursuit of positive change in the beverage industry is fueled by its vision of creating a healthier world. Recent achievements include expanding its product lines and enhancing distribution channels, ensuring that more consumers have access to their refreshing and health-conscious beverage options.
Stay updated with the latest news and developments regarding Zevia PBC to understand how this dynamic company is shaping the future of the beverage industry.
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.
Zevia, a leading producer of zero sugar beverages, will be participating in two upcoming investor conferences, the Goldman Sachs Global Staples Forum, and the BMO Global Farm to Market Conference. President Amy Taylor and CFO Girish Satya will present at these events, providing insights into the company's growth strategies and financial performance.
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