The Vita o pany(COCO) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales increased 37% to $182 million in Q3 2025, driven by a 42% growth in Vita Coco Coconut Water[1][4] - Net income rose to $24 million in Q3 2025, compared to $19 million in the prior year, with net income per diluted share at $0.40[1][8] - Non-GAAP Adjusted EBITDA increased to $32 million in Q3 2025, up from $23 million in the prior year[1][9] - Year-to-date net sales reached $482 million, a 24% increase, with Vita Coco Coconut Water net sales growing 31%[1][4] - The company raised its full year 2025 net sales guidance to between $580 million and $595 million, driven by high teens growth in Vita Coco Coconut Water[1][14] - Net sales for Q3 2025 reached $182.3 million, a 37.3% increase from $132.9 million in Q3 2024[27] - Net income for the nine months ended September 30, 2025, was $65.8 million, compared to $52.6 million for the same period in 2024, reflecting a 25.1% increase[29] - Adjusted EBITDA for Q3 2025 was $32.4 million, a 41.2% increase from $22.9 million in Q3 2024[30] - The Americas segment net sales for Q3 2025 were $151.7 million, a 35.1% increase from $112.2 million in Q3 2024[33] - Vita Coco Coconut Water sales in the Americas segment increased by 30.3% in Q3 2025 compared to Q3 2024[33] Profitability and Margins - Gross profit for Q3 2025 was $69 million, an increase of $17 million, with a gross margin of 38%[1][4][6] - Gross profit for Q3 2025 was $68.7 million, up 33.2% from $51.6 million in Q3 2024, resulting in a gross margin of 37.7%[27] - Future gross margin is expected to be approximately 36%, impacted by increased finished goods costs and current tariffs[1][14] Expenses and Cash Flow - SG&A expenses increased to $41 million in Q3 2025, up from $31 million in the prior year, primarily due to higher marketing investments[1][7] - Operating expenses for Q3 2025 were $40.7 million, compared to $31.0 million in Q3 2024, reflecting a 31.5% increase[27] - Cash and cash equivalents as of September 30, 2025, were $204 million, up from $165 million at the start of the year[1][9] - Cash and cash equivalents at the end of Q3 2025 totaled $204.98 million, up from $157.96 million at the end of Q3 2024[29] Shareholder Returns - The company has approximately $42 million remaining on its share repurchase program as of September 30, 2025[1][10] Foreign Currency Impact - The company reported a foreign currency loss of $1.4 million in Q3 2025, compared to a gain of $0.6 million in Q3 2024[27] Share Information - The weighted-average number of diluted shares outstanding increased to 59.9 million in Q3 2025 from 59.3 million in Q3 2024[27]