Zevia(US:ZVIA)2024-11-07 09:56Financial Performance - Net sales decreased by 156% year-over-year to $364 million, primarily due to lost distribution and product category exits[10] - Gross profit margin improved to 491%, a 37 percentage point increase year-over-year, driven by lower inventory losses and improved unit economics[10] - Net loss improved by $84 million year-over-year to $28 million, and Adjusted EBITDA loss improved by $76 million year-over-year to $15 million[10] Growth Initiatives - Expanded distribution into over 4,300 Walmart locations, a significant increase from the previous 800 locations[10] - The Productivity Initiative is expected to drive annualized cost savings of $15 million, an increase from the previously announced $12 million[10] - Zevia buyers spend 42% more on total beverages and make 35% more total beverage trips compared to average shoppers[15] Social & Influencer Engagement - Organic engagement rate on social media increased by 55% compared to Q2[16] - Organic video views increased by 505% since the launch of the Salted Caramel limited-time offer[17] Sustainability & Affordability - Eliminated 27 thousand metric tons of sugar from consumers' diets in Q3[23] - Kept 41 million plastic bottles from littering waterways and communities in Q3[23]