Jones Soda (JSDA) LD Micro 20th Annual Main Event Conference summary

Financial progress and outlook

• Net revenue rose from $16.7M in 2023 to $17.8M in 2024 and $25.3M in 2025; 2025 EBITDA loss narrowed to just over $2M from about $7M in 2024.

• 2026 guidance: $45M+ net revenue, 80% growth and adjusted positive EBITDA; Q3 results were scheduled for November 10, 2026.

• A $10M revolver supports large customer opportunities such as Costco; $3.7M was drawn at the end of Q2.

Portfolio and growth strategy

• Growth platforms are core beverages, consumer lifestyle and functional health; 2026 priorities include core expansion, product launches, partnerships and broader distribution.

• ZEROs launched in 2026 to reach consumers seeking reduced sugar; management said the portfolio mix was about 95/5 at launch and expects it to shift as awareness grows.

• Functional-health innovation was in clinical testing, with a potential early-2027 launch under a separate brand within Jones Labs; areas of focus include gut, metabolic and healthy-aging health.

• 2027 and beyond: scale growth across platforms, improve profitability and cash generation, and pursue accretive M&A that fits the portfolio.

Partnerships and consumer engagement

• Fallout/Bethesda, Crayola and Folds of Honor were highlighted partnerships; Crayola was renewed for next year, with plans for broader retail distribution.

• Costco's initial Fallout run sold out in a week; a 24-truck order was followed by a request for 295 more trucks, with premium packs featuring collectible bottle caps.

• Fallout launches generated 27.5M social impressions; the first collectible rocket-bottle release sold 20,000 units in a week at $65 each, and the Orange release exceeded 11,000 units.

• Two years remained on the Bethesda agreement; additional product rotations were planned, including a possible Nuka Cherry release by year-end and a new flavor launch next year.