The Vita Coco Company (COCO) Goldman Sachs Global Staples Forum 2026 summary

Consumer trends and category growth

• Coconut water is the fastest-growing beverage category, with year-to-date scans up nearly 30%.

• Growth is broad-based across all demographics and regions, with strong performance among ethnically diverse consumers.

• Category sources volume from conventional juice, premium enhanced water, and sports drinks, with recent acceleration from sports drinks.

• Household penetration remains low compared to other juices, indicating significant runway for growth.

• Category is expected to double in size in the next few years, potentially sooner given current trends.

Financial performance and guidance

• Reported 37% top-line growth in Q1 and raised full-year growth guidance to 18%-21%.

• Full-year branded pricing in the U.S. expected to be low single digits, with increased promotional activity in the back half of the year.

• Q1 gross margin was 40%, with full-year guidance at 38% due to inflation and mix impacts.

• Ocean freight rates have normalized, and cost pressures are manageable.

• Focus remains on growth, with expectations for continued leverage and EBITDA improvement over time.

Distribution, innovation, and channel expansion

• Significant distribution gains in Walmart after moving to the juice aisle, contributing roughly 5% to scan growth.

• Less than half of Walmart stores have the expanded set, with potential to double presence.

• C-store channel ACV increased from mid-50s to mid-60s, with a goal to reach mid-80s.

• 65% of C-stores now carry the product, with strong performance driven by Tetra Pak packaging.

• Distribution partner KDP is driving further gains, especially in C-stores.