Zevia PBC (ZVIA) investor relations material

Executive summary

• Net sales for Q2 2026 reached $45.0 million, up 1.1% year-over-year, driven by pricing actions despite a 3.7% volume decline; six-month net sales rose 10.4% to $91.1 million, primarily from expanded distribution and higher e-commerce volumes.

• Gross profit margin improved to 48.9%, up 0.2 percentage points year-over-year, aided by pricing actions but partially offset by higher aluminum costs.

• Net loss widened to $2.9 million, primarily due to higher equity-based compensation, including a $1.0 million brand endorsement agreement and restructuring costs.

• Adjusted EBITDA rose to $0.5 million, a $0.3 million improvement year-over-year, with first half adjusted EBITDA at $1.5 million.

• CEO Alexandre Ruberti appointed in June 2026, outlining a strategic focus on growth, profitability, and disciplined execution.

Financial highlights

• Q2 2026 net sales increased by $0.5 million year-over-year to $45.0 million, with gross profit of $22.0 million and gross margin of 48.9%.

• First half 2026 net sales were $91.1 million, up 10.4% year-over-year; gross margin for the period was 48.6%.

• Net loss for Q2 2026 was $2.9 million, and for the first half $5.1 million; adjusted net loss for Q2 was $1.8 million.

• Cash and cash equivalents at June 30, 2026, were $28.5 million, with no outstanding debt and a $20 million undrawn credit facility.

• Operating expenses for Q2 2026 were $24.9 million, up 9.7% year-over-year, mainly from higher equity-based compensation and restructuring costs.

Outlook and guidance

• Full-year 2026 net sales expected between $170 million and $175 million, with adjusted EBITDA loss projected between $2.0 million and $4.0 million.

• Q3 2026 net sales guidance: $44.0 million to $46.0 million; adjusted EBITDA loss: $3.0 million to $3.5 million; gross margin expected to dip to 46% due to higher aluminum and promotional costs.

• $3 million–$5 million in additional cost savings targeted for Q1 2027.

• Ongoing cost pressures from tariffs and inflation are expected, but productivity initiatives and warehouse restructuring are anticipated to yield annualized cost savings of $4.1 million.

• Discontinuation of the tea line in 2026, with focus on core soda and energy drinks.