The Vita Coco Company (COCO) investor relations material

Executive summary

• Net sales grew 17.1% year-over-year to $169M in Q2 2025, driven by 25% growth in coconut water and strong international performance, especially in the UK and Germany.

• Gross profit increased to $61M, with gross margin at 36% (down from 41%) due to higher freight, product costs, and tariffs.

• Net income rose to $23M ($0.38/share) from $19M ($0.32/share) year-over-year, aided by higher gross profit and lower tax rate.

• Adjusted EBITDA was $29.2M (17% of net sales), down from $32.2M (22%) last year, mainly due to higher SG&A.

• Full-year net sales guidance was raised, reflecting strong coconut water demand and new product rollouts.

Financial highlights

• Americas: Coconut water net sales up 22% to $120M; private label down 37% to $15M.

• International: Net sales up 37%, coconut water up 43%, private label up 29%.

• SG&A rose to $36M, driven by marketing, people costs, bad debt reserves, and double rent.

• Year-to-date net sales totaled $300M, up 17% from the prior year period.

• Cash and cash equivalents stood at $167M as of June 30, 2025, with no debt.

Outlook and guidance

• Full-year net sales guidance raised to $565M–$580M, with coconut water sales expected to grow in the high teens.

• Gross margin expected at ~36% for the year; Q3 margin to be sequentially lower due to tariffs and freight, with Q4 improving.

• Full-year adjusted EBITDA guided to $86M–$92M.

• SG&A to grow low to mid-single digits, with marketing spend front-loaded in the year.

• Guidance assumes 10% baseline US tariff; no impact from potential higher tariffs included.