The Vita Coco Company (COCO) 46th Annual William Blair Growth Stock Conference summary

Conference overview

• The event was William Blair's 46th Annual Growth Stock Conference, featuring a presentation by the CEO and CFO of a leading coconut water company.

• The company is a market leader in the U.S., U.K., and Germany, aiming to be a top platform for natural and functional beverage brands with a focus on health, wellness, and community impact.

• The business is a public benefit corporation and B Corp certified, with a foundation supporting farming communities.

• The supply chain is asset-light and globally diversified, built on long-term partnerships with 18 factories and small family farms across six countries.

• Private label business brings scale and efficiency, supporting retailer growth and brand expansion in underdeveloped markets.

Market trends and growth drivers

• Coconut water is experiencing rapid growth as consumers seek natural hydration, functional benefits, and clean-ingredient beverages.

• The category is still in early growth stages, representing less than 1% of U.S. beverage per capita consumption, with significant upside potential domestically and internationally.

• Growth is driven by increased household penetration, higher usage per household, and strong appeal among Gen Z, multicultural consumers, and families with teens.

• Social media marketing and flavor innovation have accelerated growth, with viral campaigns reaching over 200 million views and multi-packs increasing velocity.

• Retailers are increasing shelf space and visibility for coconut water, notably after a major Walmart reset and transition to vertical block merchandising.

Financial performance and outlook

• The company holds a 42% share of the U.S. coconut water market, with strong national distribution and 86% ACV.

• Consistent topline growth with a 5-year net sales CAGR of 14% and adjusted EBITDA CAGR of 30%.

• 2024 guidance includes 18%-20% net sales growth, 38% gross margins, and $132M-$138M adjusted EBITDA; 2026 guidance projects net sales of $720–$735M.

• Long-term objectives are mid-teens branded net sales growth and high-teens adjusted EBITDA margins.

• Balance sheet as of March 2026 shows $202M cash and no debt.