The Vita o pany(US:COCO)2022-08-10 13:07Second Quarter 2022 Performance - Net sales reached $115 million, a 13% increase compared to the prior year[8] - Adjusted EBITDA was $7 million, representing a 6% margin[8] - The Vita Coco brand achieved a 51% market share in IRI tracked channels as of the 52 weeks ending June 26, 2022[8] - Vita Coco Coconut Water net sales grew by 21%[8] Financial Highlights - Q2 2022 gross profit was $29 million, with a 25% margin, a decrease of 3 percentage points[17] - Q2 2022 net income was $1 million, representing a 1% margin[25] - Case Equivalent (CE) volumes increased by 7%[8] Brand Performance and Growth - Vita Coco's market share in the US grew by 7% to reach 51%[10, 11] - Household penetration increased by 17%[14] - Shoppers are buying Vita Coco products 7% more often[15] - Spend per trip increased by 6% to $764[16] 2022 Full Year Guidance - The company reaffirmed its net sales guidance of $440-455 million, representing a 16-20% growth[23] - Adjusted EBITDA is projected to be $27-32 million[23]