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Zevia PBC (ZVIA) investor relations material
Zevia PBC Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Full year 2025 net sales grew 4.0% to $161.3 million, with Q4 net sales down 4.0% to $37.9 million due to timing shifts in Costco programs, lapping Walmart pipeline fill, and reduced promotions.
Adjusted EBITDA loss improved to $4.7 million for 2025 (from $15.2 million in 2024); Q4 Adjusted EBITDA was positive at $0.05 million, up from a $3.9 million loss in Q4 2024.
Net loss for 2025 narrowed to $11.2 million, more than halved from $23.8 million in 2024; Q4 net loss was $1.3 million, $5.5 million better than prior year.
Strategic focus on marketing, product innovation, and distribution drove improved financial performance and competitive positioning.
Andrew Ruben appointed Chair of the Board, replacing Padraic Spence, and Suzanne Ginestro named Director.
Financial highlights
Full year 2025 net sales: $161.3 million (+4.0% YoY); Q4 net sales: $37.9 million (-4.0% YoY).
Full year gross margin: 48.0% (+160 bps YoY); Q4 gross margin: 47.7% (-150 bps YoY), impacted by channel mix and tariffs.
Full year net loss: $11.2 million (improved by $12.6 million YoY); Q4 net loss: $1.3 million (improved by $5.5 million YoY).
Full year Adjusted EBITDA: -$4.7 million (improved by $10.5 million YoY); Q4 Adjusted EBITDA: $0.05 million (improved by $3.9 million YoY).
Ended Q4 with $25.4 million in cash, no outstanding debt, and an undrawn $20 million credit line.
Outlook and guidance
2026 net sales expected between $169 million and $173 million, representing 6% growth at midpoint.
Full year 2026 adjusted EBITDA guidance ranges from a $1 million loss to $0.5 million profit, factoring in $5 million in new aluminum tariffs and productivity savings.
Q1 2026 net sales expected at $40–$42 million, with adjusted EBITDA loss of $1.6–$1.9 million.
Gross margins expected in the high 40% range from Q2 onward, barring further aluminum cost increases.
Guidance reflects discontinuation of tea line and $5 million in incremental aluminum tariff costs for 2026.
- Q2 net sales topped guidance but fell 4.3% as margin dropped and cost-saving efforts increased.ZVIA
Q2 20242 Feb 2026 - Gross margin rose to 49.1% as net loss narrowed and Walmart distribution expanded.ZVIA
Q3 202416 Jan 2026 - Expanding distribution and innovation drive optimism for growth and margin improvement.ZVIA
Stephens 26th Annual Investment Conference | NASH202413 Jan 2026 - Taste innovation, expanded distribution, and cost savings set the stage for multi-year growth.ZVIA
28th Annual ICR Conference 202612 Jan 2026 - Viral marketing and Walmart expansion fuel growth, with profitability targeted for 2026.ZVIA
27th Annual ICR Conference 202510 Jan 2026 - Q4 2024 net sales and margins rebounded, setting up growth and margin gains for 2025.ZVIA
Q4 202424 Dec 2025 - Shelf registration allows $50M in offerings and major secondary sales, supporting growth.ZVIA
Registration Filing16 Dec 2025 - Shelf registration enables up to $50M in flexible securities offerings for growth and corporate needs.ZVIA
Registration Filing16 Dec 2025 - Health beverage firm registers $50M in securities, with a major secondary share offering.ZVIA
Registration Filing16 Dec 2025
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