Financial Performance - Net sales for Q3 2024 were $36.4 million, a decrease of 15.6% from $43.1 million in Q3 2023[2] - Net loss for Q3 2024 was $2.8 million, an improvement of $8.4 million compared to a net loss of $11.3 million in Q3 2023[4] - Adjusted EBITDA loss was $1.5 million in Q3 2024, improving by $7.6 million from a loss of $9.1 million in Q3 2023[4] - Loss per share improved to $0.04 for Q3 2024, compared to $0.16 in Q3 2023[4] - Net loss for the nine months ended September 30, 2024, was $17,002,000, compared to a net loss of $19,171,000 for the same period in 2023, showing an improvement of approximately 11.3%[16] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(11,348,000), compared to $(12,200,000) for the same period in 2023, indicating a reduction in losses of about 7%[19] Cost Management - Selling and marketing expenses decreased to $12.0 million, or 32.9% of net sales, down from $20.5 million, or 47.5% of net sales in Q3 2023[4] - The company anticipates achieving $15 million in annual cost savings through its Productivity Initiative[1] Sales Projections - The company expects full-year 2024 net sales to be in the range of $154 million to $156 million[6] - For Q4 2024, net sales are projected to be between $38 million and $40 million[6] Distribution and Expansion - Zevia expanded distribution to over 4,300 Walmart stores, up from 800 previously served[1] Asset and Liability Management - Total assets decreased from $90,857,000 on December 31, 2023, to $72,859,000 on September 30, 2024, representing a decline of approximately 19.8%[15] - Current assets fell from $82,687,000 to $66,062,000, a decrease of about 20.2%[15] - Total liabilities decreased from $29,090,000 to $24,144,000, a reduction of approximately 17%[15] - Stockholders' equity decreased from $89,878,000 to $72,508,000, a decline of about 19.4%[15] Cash Flow and Receivables - Cash and cash equivalents increased from $31,955,000 at the beginning of the period to $32,688,000 at the end, reflecting a net change of $733,000[16] - Accounts receivable decreased from $11,119,000 to $10,008,000, a decline of approximately 10%[15] - Inventories significantly dropped from $34,550,000 to $20,690,000, a decrease of about 40%[15] Non-Cash Expenses - The company reported a non-cash lease expense of $450,000 for the nine months ended September 30, 2024, compared to $423,000 for the same period in 2023[16]

Sales Performance - Net sales for the three months ended June 30, 2024, were $40.4 million, a decrease of 4.3% from $42.2 million in the same period of 2023[66]. - Net sales for the six months ended June 30, 2024, were $79.2 million, a decrease of 7.4% from $85.5 million in the same period of 2023[72]. - Equivalized cases sold decreased to 3.1 million for the three months ended June 30, 2024, down from 3.3 million in the same period of 2023[66]. Cost and Profitability - Cost of goods sold increased by 4.1% to $23.5 million for the three months ended June 30, 2024, compared to $22.5 million in the prior year[67]. - Gross profit decreased by 14.0% to $16.9 million for the three months ended June 30, 2024, down from $19.7 million in the same period of 2023[68]. - Cost of goods sold decreased by $1.2 million, or 2.6%, to $44.6 million for the six months ended June 30, 2024, primarily due to an 8.2% decrease in shipment of equivalized cases[73]. - Gross profit fell by $5.1 million, or 12.9%, to $34.7 million for the six months ended June 30, 2024, with gross margin declining to 43.8% from 46.5%[74]. Expenses - Selling and marketing expenses were $13.6 million for the three months ended June 30, 2024, a decrease of 15.4% from $16.1 million in the prior year[69]. - Selling and marketing expenses increased by $0.7 million, or 2.4%, to $28.7 million for the six months ended June 30, 2024, driven by higher marketing and warehousing costs[75]. - General and administrative expenses increased by 24.0% to $7.7 million for the three months ended June 30, 2024, compared to $6.2 million in the same period of 2023[70]. - General and administrative expenses rose by $1.0 million, or 6.4%, to $15.8 million for the six months ended June 30, 2024, primarily due to increased employee compensation costs[76]. - Restructuring expenses were $0.9 million for the three months ended June 30, 2024, primarily related to employee severance costs[71]. - Restructuring expenses amounted to $0.9 million for the six months ended June 30, 2024, primarily related to employee severance costs and exiting third-party facilities[78]. Cash Flow and Financing - Cash used in operating activities was $(2.9) million for the six months ended June 30, 2024, compared to $1.1 million provided in the same period of 2023[84]. - Net cash used in operating activities for the six months ended June 30, 2024, was $2.9 million, driven by a net loss of $14.2 million, partially offset by non-cash expenses of $4.0 million and a net increase in cash from changes in operating assets and liabilities of $7.3 million[86]. - Net cash used in investing activities for the six months ended June 30, 2024, was $0.1 million, compared to $1.5 million for the same period in 2023, indicating a reduction in capital expenditures[87]. - Net cash provided by financing activities for the six months ended June 30, 2024, was less than $0.1 million, primarily from proceeds of $8 million from a secured revolving line of credit, which was repaid in the same period[87]. Compliance and Risks - The company received a notice from the NYSE regarding non-compliance with the $1.00 average closing price requirement, with a six-month cure period to regain compliance[53]. - The company is exposed to inflation risks, which could materially affect its business and financial condition if costs rise significantly without the ability to pass on those costs through price increases[96]. - As of June 30, 2024, three vendors accounted for approximately 89% of total raw material and finished goods purchases, indicating a high vendor concentration risk[94]. Strategic Initiatives - The company initiated a multi-year Productivity Initiative expected to yield annualized benefits between $8.0 million and $12.0 million, with costs associated with this initiative amounting to $0.9 million in Q2 2024[52]. - The company has transitioned procurement of raw materials to contract manufacturers, which is expected to optimize the supply chain and improve cost management[51]. - The company is increasing its marketing spend to enhance brand awareness and drive sales velocity, particularly in key accounts[51]. - The company has entered into a two-year agreement effective October 15, 2023, for fixed pricing of stevia extract, a key ingredient, to mitigate raw material cost fluctuations[94]. Operational Insights - The company has sold over 2.0 billion cans of Zevia to date, focusing on zero sugar, zero calorie beverages made with plant-based ingredients[50]. - In the first half of 2024, the company experienced delays in SKU level distribution due to supply chain challenges and increased competition, resulting in reduced volumes[51]. - Gross profit is influenced by the mix of distribution channels and promotional activities, with a focus on leveraging an asset-light business model[57]. - Selling and marketing expenses are expected to increase in absolute dollars long-term due to higher warehousing and distribution costs, but decrease as a percentage of sales over time[59]. - General and administrative expenses are expected to remain flat in absolute dollars in the near term[60]. - The company expects continued seasonality effects, with net sales typically higher in the second and third quarters of the year[79]. - Foreign exchange gains and losses were not material for the three and six months ended June 30, 2024, indicating limited exposure to currency fluctuations[95]. - As of June 30, 2024, the company had $28.9 million in cash and cash equivalents, which is expected to support ongoing operations and planned capital expenditures[80]. - The company drew $8 million on its Secured Revolving Line of Credit during the first quarter of 2024, which was repaid in the same period, leaving no outstanding amount as of June 30, 2024[81]. - Adjusted EBITDA for the six months ended June 30, 2024, was $(9.84) million, compared to $(3.07) million for the same period in 2023, reflecting a decline in operating performance[90].

ZEVIA Q2 2024 FINANCIAL RESULTS AT FORWARD-LOOKING STATEMENTS This presentation and the related earnings press release contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "anticipate," "believe," "consider," "contemplate," "c ...

Financial Data and Key Metrics Changes - In Q2 2024, net sales reached $40.4 million, slightly above the top-end of guidance, but down 4.3% year-over-year [18] - Volume decreased by 5.9%, reflecting challenges in on-shelf distribution, partially offset by a price increase contributing $2.4 million [18] - Gross margin was 41.9%, down 4.7 percentage points from the previous year, impacted by a €1.8 million charge related to excess inventory [16][18] - Net loss increased to $7 million compared to a net loss of $5 million last year, with adjusted EBITDA loss at $4.4 million [19] Business Line Data and Key Metrics Changes - Strong performance in the food channel, with 16% growth over 12 weeks and 20% growth over the last 4-week period [9] - New product launches, including Cran-Raspberry, are expected to drive incremental growth [8][15] - The company implemented a 4.5% price increase on soda multipacks, which was well-received by retailers and consumers [9] Market Data and Key Metrics Changes - Zevia soda scan dollars were up 6% for the 12 weeks ending July 14, with units up 2% [8] - Retail sales growth accelerated, with dollars closing at +10% and units at +11% in the latest 4-week period, marking the highest retail sales month in Zevia's history [8] - The company is seeing promising growth in strategic channels, particularly in food, which outpaced the broader Carbonated Soft Drinks category [9][23] Company Strategy and Development Direction - The company is focused on enhancing brand visibility and expanding distribution through direct-store delivery (DSD) initiatives [10][14] - A productivity initiative aims for annualized savings of $12 million, targeting brand maximization, margin enhancement, and operational discipline [12][13] - The strategic focus includes increasing marketing investments to drive consumer awareness and trial packages to expand the user base [10][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about retail sales growth despite challenges in club distribution, expecting improvements in Q4 [32] - The promotional environment is competitive, with increased promotional spending planned to drive in-store activity [35] - Management anticipates a return to mid-40s gross margins in Q3, with sequential improvements expected [21][41] Other Important Information - The company ended the quarter with approximately $29 million in cash and cash equivalents, alongside an undrawn revolving credit line of $20 million [19] - The company is committed to maintaining a right-sized inventory level, targeting around 90 days of inventory on hand [45] Q&A Session Summary Question: Impact of club distribution losses - Management acknowledged regional losses in club distribution but noted strong retail scan data and overall healthy retail performance [26] Question: Strategies for reaching new consumers without club visibility - The focus is on expanding singles distribution to drive trial packages in various channels, including mainstream grocery and convenience [28] Question: Clarification on Q3 revenue guidance - Management explained that Q3 guidance reflects temporary distribution challenges and a focus on optimizing the product portfolio [32][33] Question: Promotional environment insights - The promotional environment is competitive, with deeper promotions observed, but the company plans to increase promotional investments to drive growth [35] Question: Marketing efficacy and metro outperformance - Marketing campaigns across multiple markets have shown a 3 percentage point improvement in revenue, indicating effective strategic planning [39] Question: Future gross margin potential - Management expects to maintain mid-40s gross margins while reinvesting in promotional activities and expanding the DSD network [41] Question: Inventory management going forward - The company aims to maintain inventory levels close to current levels while managing working capital effectively [45]

Company Performance - Zevia reported a quarterly loss of $0.09 per share, better than the Zacks Consensus Estimate of a loss of $0.13, and compared to a loss of $0.08 per share a year ago, indicating an earnings surprise of 30.77% [1] - The company posted revenues of $40.43 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.13%, but down from $42.24 million in the same quarter last year [2] - Over the last four quarters, Zevia has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Zevia shares have declined approximately 55.2% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $44.85 million, and for the current fiscal year, it is -$0.37 on revenues of $163.17 million [7] Industry Outlook - The Medical - Products industry, to which Zevia belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Zevia's stock performance [5]

Exhibit 99.1 Zevia Announces Second Quarter 2024 Results Net Sales of $40.4 million, exceeding guidance Productivity Initiative now expected to deliver $12 million of annualized savings LOS ANGELES – August 7, 2024 (BUSINESS WIRE) – Zevia PBC ("Zevia" or the "Company") (NYSE: ZVIA), the Company bringing naturally delicious, zero sugar, clean-label beverages across usage occasions today reported results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights • Net sales of $40.4 million, e ...

Zevia PBC (NYSE:ZVIA) Q1 2024 Earnings Conference Call May 8, 2024 8:30 AM ET Company Participants Reed Anderson - Managing Director, Investor Relations Amy Taylor - President & Chief Executive Officer Girish Satya - Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Jim Salera - Stephens Inc. Eric Serotta - Morgan Stanley Sarang Vora - Telsey Advisory Group Operator Good day ladies and gentlemen and welcome to Zevia PBC Q1 2024 Earnings Call. [Operator Instructions] Please n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40630 Zevia PBC (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organiz ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40630 Zevia PBC (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization ...

Zevia ZEUIA ZeyIa ream Soda Zevil k Cherry Zeula revil Zevil Leuil levia 4 GEUI8 Zeula 1 2023 Financial Results 12 FL OZ (355) Safe Harbor Statement This presentation and the related earnings press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievemen ...