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]

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 ...

Financial Performance - Net sales for the first quarter of 2024 were $38.8 million, a decrease of 10.5% compared to $43.3 million in the same period of 2023[112]. - The company reported a net loss of $7.2 million for Q1 2024, compared to a net loss of $2.9 million in Q1 2023, with a loss per share of $0.10[112]. - Net sales decreased by 10.4% to $38.8 million for the three months ended March 31, 2024, compared to $43.3 million in the same period of 2023, primarily due to a decrease in the number of equivalized cases sold[113]. - Gross profit fell by 11.9% to $17.7 million for the three months ended March 31, 2024, compared to $20.1 million in the prior year, with gross margin decreasing to 45.7% from 46.4%[116][117]. - Adjusted EBITDA for Q1 2024 was $(5,466) thousand, a significant decline from $(452) thousand in Q1 2023, with net loss increasing to $(7,199) thousand from $(2,912) thousand[146]. Cost Management - Cost of goods sold decreased to $21.1 million in Q1 2024 from $23.2 million in Q1 2023, maintaining a gross margin of 46%[112]. - Cost of goods sold decreased by 9.1% to $21.1 million for the three months ended March 31, 2024, down from $23.2 million in 2023, driven by a 10.4% decrease in shipment of equivalized cases[115]. - Selling and marketing expenses increased to $15.1 million, representing 39% of net sales, up from 28% in the prior year[112]. - Selling and marketing expenses increased by 26.5% to $15.1 million for the three months ended March 31, 2024, up from $11.9 million in 2023, primarily due to higher freight and warehousing costs[118]. - General and administrative expenses decreased by 6.1% to $8.1 million for the three months ended March 31, 2024, compared to $8.6 million in 2023, mainly due to a reduction in employee costs[119]. - Equity-based compensation expenses decreased by 37.4% to $1.5 million for the three months ended March 31, 2024, down from $2.4 million in 2023, primarily due to changes in expense recognition methods[120]. Operational Challenges - The company experienced delays in SKU level distribution recovery due to supply chain challenges from 2023, impacting sales volumes[92]. - The company anticipates continued inflationary pressures and increased operating costs throughout 2024, affecting margins and operating results[97]. - Inflation has materially affected the company's business, and further significant inflationary pressures could harm financial performance[161]. - The company is subject to commodity risks related to aluminum, diesel fuel, cartons, and corrugate, which may limit the ability to recover increased costs through pricing[162]. Strategic Initiatives - A multi-year Productivity Initiative is projected to yield annualized benefits between $8.0 million and $12.0 million, expected to begin in Q3 2024[96]. - The cash impact of the Productivity Initiative is expected to be between $0.5 million and $0.8 million for the three months ended June 30, 2024[96]. - New distribution strategies include a regional approach to direct store delivery and gaining distribution in select regional convenience chains[93]. - The company has onboarded a new global transportation management company to optimize freight procurement and management activities[91]. Cash Flow and Liquidity - Net cash used in operating activities was $3.2 million for the three months ended March 31, 2024, compared to net cash provided of $9.4 million in the same period of 2023, influenced by a net loss of $7.2 million[138][139]. - As of March 31, 2024, the company had $28.7 million in cash and cash equivalents, which is expected to provide adequate liquidity for ongoing operations and planned capital expenditures[123]. - The company drew $8 million on its Secured Revolving Line of Credit during the first quarter of 2024, which was subsequently repaid, leaving no outstanding amount as of March 31, 2024[132]. - Future capital requirements will depend on revenue growth, gross margin, and expenditure levels, with potential needs for additional financing if existing resources are insufficient[125]. - Net cash used in investing activities was $33 thousand for Q1 2024, compared to $0.9 million for Q1 2023, primarily due to purchases of property and equipment[140]. - Net cash provided by financing activities was $0.0 million for Q1 2024, with $8 million drawn from a revolving line of credit and repaid in the same period; in Q1 2023, it was $23 thousand from stock option exercises[141]. Vendor and Supply Chain Management - Three vendors accounted for approximately 93% of total raw material and finished goods purchases in Q1 2024, indicating a high vendor concentration risk[159]. - The company entered into a two-year agreement for stevia leaf extract effective October 15, 2023, with fixed pricing to mitigate supply disruptions[156]. - The company expects to satisfy inventory purchase commitments through cash on hand and cash generated from product sales[150]. Real Estate and Corporate Structure - The company has extended its corporate headquarters lease through December 31, 2026, increasing the total square footage from 17,923 to 20,185 square feet[147]. Foreign Exchange and Market Risks - Foreign exchange gains and losses were not material for Q1 2024 and 2023, as most sales and costs are in U.S. dollars[160].

Financial Performance - Net sales for the year ended December 31, 2023, were $166.4 million, a 2.0% increase from $163.2 million in 2022[248]. - The net loss attributable to Zevia PBC was $21.5 million in 2023, an improvement from a net loss of $33.9 million in 2022[246]. - Adjusted EBITDA for 2023 was $(19,049) thousand, compared to $(19,641) thousand in 2022, indicating a slight improvement year-over-year[283]. - The net loss for 2023 was $(28,322) thousand, a decrease from $(47,647) thousand in 2022, reflecting a reduction in overall losses[283]. Sales and Marketing - The number of equivalized cases sold decreased to 12.7 million in 2023 from 13.6 million in 2022, primarily due to supply chain logistics challenges[248]. - Selling and marketing expenses rose to $62.3 million in 2023, up from $52.9 million in 2022, reflecting increased warehousing and distribution costs[246]. - Selling and marketing expenses rose to $62.3 million in 2023, up $9.4 million or 17.9% from $52.9 million in 2022, mainly due to higher freight transfer and warehousing costs[252]. Cost Management - Cost of goods sold decreased by $1.5 million, or 1.6%, to $91.7 million in 2023, attributed to a 6.9% decrease in shipments and higher inventory losses[249]. - General and administrative expenses decreased to $31.5 million in 2023 from $36.8 million in 2022, while remaining a smaller percentage of net sales[246][247]. - General and administrative expenses decreased to $31.5 million in 2023, down $5.3 million or 14.4% from $36.8 million in 2022, driven by reduced employee-related costs and cost productivity initiatives[253]. - Equity-based compensation expense significantly decreased to $8.3 million in 2023, down $18.6 million or 69.2% from $26.9 million in 2022, primarily due to changes in equity award vesting[254]. Profitability - Gross profit increased to $74.8 million in 2023, up from $70.0 million in 2022, resulting in a gross margin of 45% compared to 43% in the previous year[246][247]. - Gross profit for the year ended December 31, 2023, was $74.8 million, an increase of $4.7 million or 6.8% from $70.0 million in 2022, primarily driven by pricing increases[250]. - Gross margin improved to 44.9% in 2023 from 42.9% in 2022, attributed to pricing increases, partially offset by higher inventory losses[251]. Liquidity and Capital Resources - As of December 31, 2023, the company had $32.0 million in cash and cash equivalents, which, along with operating activities and available borrowings, is expected to provide adequate liquidity for ongoing operations[258]. - Net cash used in operating activities was $16.3 million in 2023, influenced by a net loss of $28.3 million, partially offset by non-cash expenses and changes in operating assets and liabilities[273]. - Future capital requirements will depend on revenue growth, gross margin, and expenditures, with potential needs for additional financing if existing resources are insufficient[260]. - The company had a revolving credit facility with a commitment of $20 million, with no amounts drawn as of December 31, 2023[267]. Supply Chain and Manufacturing - A strategic change in manufacturing will take effect in Q1 2024, with contract manufacturers responsible for raw material procurement, aimed at optimizing the supply chain[230]. - The brand refresh initiative included a new logo and discontinuation of selected SKUs to focus on high-potential products[229]. - The Company has entered into a two-year agreement effective October 15, 2023, with a supplier for stevia extract, which includes fixed pricing[306]. - The Company is diversifying its sources of supply for raw materials to mitigate potential supply disruptions, although there is no assurance of securing alternative sources[306]. Tax and Deferred Tax Assets - As of December 31, 2023, the company has a full valuation allowance against deferred tax assets totaling $75.5 million, indicating potential challenges in realizing these tax benefits[295]. - The company did not record any unrecognized tax benefits as of December 31, 2023, indicating no significant tax disputes or uncertainties[297]. - As of December 31, 2023, the Company has not recorded a liability related to the tax savings from its Deferred Tax Assets (DTAs) subject to the TRA, as it is more likely than not that these DTAs will not be realized[303]. - The TRA liability, if the associated tax benefits were fully realizable, would total $56.2 million as of December 31, 2023, up from $55.8 million in 2022, primarily due to Class B to Class A exchanges[303]. Economic and Market Conditions - The company expects continued inflationary pressures to impact operating costs and margins into 2024[231]. - Inflation has had a material effect on the Company's business, and further significant inflationary pressures could harm its financial condition[310]. - The Company is subject to commodity risks related to purchases of aluminum, diesel fuel, cartons, and corrugate, which may limit its ability to recover increased costs through higher pricing[311]. - Foreign exchange gains and losses were not material for the years ended December 31, 2023, and 2022, as the majority of sales and costs are in U.S. dollars[309].

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 ...

Zevia PBC (NYSE:ZVIA) Q4 2023 Earnings Conference Call February 27, 2024 8:30 AM ET Company Participants Reed Anderson - Managing Director, Investor Relations Amy Taylor - President and CEO Girish Satya - Chief Financial Officer Florence Neubauer - Senior Vice President, Finance and Business Transformation Conference Call Participants Ethan Huntley - Goldman Sachs Andrew Strelzik - BMO Capital Markets Sarang Vora - Telsey Advisory Group Jim Salera - Stephens Operator Ladies and gentlemen, good morning. And ...

Zevia Announces Fourth Quarter and Full Year 2023 Results Q4 Net Sales up 6.9%, including unit volumes up 3.7% Exhibit 99.1 LOS ANGELES – February 27, 2024 (BUSINESS WIRE) – Zevia PBC ("Zevia" or the "Company") (NYSE: ZVIA), the company bringing great tasting, zero sugar beverages made with simple, plant-based ingredients across usage occasions today reported results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights Full Year 2023 Highlights "Our fourth quarter v ...

Zevia PBC (NYSE:ZVIA) Q3 2023 Earnings Conference Call November 7, 2023 8:08 AM ET Company Participants Reed Anderson - Managing Director ICR Amy Taylor - President & Chief Executive Officer Florence Neubauer - Interim Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Jim Salera - Stephens Chris Carey - Wells Fargo Securities Dana Telsey - Telsey Advisory Daniel Gold - Bank of Montreal Alton Stump - Loop Capital Markets Operator Greetings and welcome to Zevia PBC Q3 2023 ear ...

| --- | --- | --- | --- | --- | |----------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Peach | | | | | | Sweetened Black Tea Naturally Flavored 12 FL OZ (355 mL) | | | | | Q3 2023 Financial Results ZEUIA 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 o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Zevia PBC 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 September 30, 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 (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Org ...