No. of Recommendations: 5
ZVIA is a 4 bagger in the last 2 months -- after 3 years of disappointment. I see it in RiteAid, Whole Foods, Fresh Thyme and they recently announced the expansion of a pilot in WalMart which is what got me in. I think they're ramping to all WalMarts in the US and the next goal is to get single cans in coolers in many places. Might require different distribution for that. They have several "healthier" sodas, a kids' drink and an energy drink. Will probably start reducing this small position shortly.
Third Quarter 2024 Highlights
Net sales of $36.4 million, a decline of $6.7 million year over year
Gross profit margin was 49.1%, an improvement of 3.7 percentage points year over year
Net loss was $2.8 million, including $1.0 million of non-cash equity-based compensation expense, an improvement of $8.4 million year over year
Adjusted EBITDA loss was $1.5 million (1) , an improvement of $7.6 million year over year
Loss per share was $0.04 to Zevia’s Class A Common stockholders, an improvement of $0.12 year over year
Subsequent to the third quarter, Zevia expanded distribution to more than 4,300 U.S. Walmart stores from the 800 it previously served
Guidance
The Company is updating its guidance for the full year of 2024 to reflect recent results. Net sales for the full year of 2024 are now expected to be in the range of $154 million to $156 million. For the fourth quarter of 2024, net sales are expected to be in the range of $38 million to $40 million. Adjusted EBITDA losses for the fourth quarter of 2024 are expected to be in the range of $1.8 million to $2.2 million.
