The Vita Coco Company (COCO) investor relations material

Executive summary

• Net sales rose 37.3% year-over-year to $179.8–$180 million, driven by strong Vita Coco Coconut Water volume growth and improved pricing, with both Americas and International segments contributing significantly.

• Net income attributable to shareholders increased to $30–$30.5 million ($0.50 per diluted share), up from $19 million ($0.31 per share) year-over-year.

• Adjusted EBITDA reached $38.7–$39 million (21.5%–22% of net sales), up from $22.5–$23 million (17% of net sales) in Q1 2025.

• Ended Q1 with $201.9–$202 million in cash and no debt, reflecting a healthy balance sheet.

• Coconut water category is rapidly expanding, with 31% growth in the U.S. and 63% in Europe year-over-year; international business, especially Europe, outpaced Americas in growth.

Financial highlights

• Q1 2026 net sales rose 37%–37.3% year-over-year to $179.8–$180 million, led by 41.6%–42% growth in Vita Coco Coconut Water and 28% in private label.

• Americas segment net sales grew 31.6%–32% to $148–$148.2 million; international segment net sales surged 72%–72.5% to $31.6–$32 million.

• Gross profit increased by $24 million to $71.8–$72 million, with gross margin improving to 39.9%–40% from 36.7%–37% last year.

• Net income margin improved to 16.9%–17% from 14.4% in Q1 2025.

• SG&A expenses rose to $38–$38.2 million, mainly due to higher personnel, stock compensation, and marketing investments.

Outlook and guidance

• Raised full-year 2026 net sales guidance to $720–$735 million and adjusted EBITDA to $132–$138 million; gross margin expected at ~38%.

• Expect U.S. coconut water category growth in the mid to high teens and international business, led by the U.K. and Germany, to maintain strong growth.

• Private label net sales in the U.S. expected to grow 35–40%.

• SG&A expenses projected to rise by high single digits versus 2025.

• Outlook subject to risks from geopolitical instability, tariffs, and competitive pricing actions.