The Vita Coco Company (COCO) investor relations material

Executive summary

• Q3 net sales rose 33.7% YoY to $243.8M, with 17.8% organic growth excluding Copra; demand, Private Label growth and the acquisition drove results.

• Q3 net income increased to $35.0M from $24.0M; adjusted EBITDA rose to $53.2M from $32.4M.

• Nine-month net sales grew 32.7% to $639.7M, including a one-time $15.6M tariff refund recognized as a reduction of cost of goods sold.

Financial highlights

• Q3 gross profit was $92.7M versus $68.7M; operating income was $45.5M versus $27.9M.

• Q3 net income was $35.0M versus $24.0M; diluted EPS was $0.58 versus $0.40.

• Q3 adjusted EBITDA was $53.2M versus $32.4M; nine-month adjusted EBITDA was $159.1M versus $84.1M.

• Nine-month operating cash flow reached $151.9M versus $51.1M, supported by higher net income and a $42.0M working-capital improvement.

• Q3 SG&A rose 15.9% to $47.2M, below sales growth; increases included Copra costs, amortization, headcount, stock compensation and sales expenses.

Outlook and guidance

• FY2026 net sales guidance increased to $810M–$820M from $790M–$805M; adjusted EBITDA guidance rose to $170M–$175M from $154M–$161M.

• FY2026 gross margin guidance remains ~40%; Q4 gross margin is expected at ~33% as freight, transportation costs and mix weigh on results.

• Guidance assumptions include low-20s Vita Coco coconut water growth, 110%–120% U.S. private-label growth and ~1.5 percentage points of SG&A leverage.

• Early-2027 pricing adjustments have been communicated to retail and distributor partners to address structural cost increases.

• Long-term targets include mid-teens branded net sales growth and high-teens adjusted EBITDA margin.