Zevia PBC (ZVIA): Results of Operations and Financial Condition
Zevia PBC (ZVIA) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Zevia Announces Second Quarter 2026 Results Net Sales at the High End of Outlook; Adjusted EBITDA Exceeds Outlook LOS ANGELES – August 5, 2026 (BUSINESS WIRE) – Zevia PBC (“Zevia” or the “Company”) (NYSE: ZVIA), the Company bringing naturally delicious, zero sugar, c
How this was made
The 30-second read
Why it matters
Traders can update models using the provided Q2 performance metrics and the explicit FY2026 and Q3 2026 guidance ranges for net sales and adjusted EBITDA loss.
Market read
The release combines a sales and margin update with forward guidance, making it a direct catalyst for near-term positioning in ZVIA.
What to watch
Equity-based compensation rose to $2.1M, and restructuring/productivity initiatives drove costs; both can distort GAAP vs adjusted trends and affect forward expectations.
Zevia Announces Second Quarter 2026 Results Net Sales at the High End of Outlook; Adjusted EBITDA Exceeds Outlook
Net sales grew 1.1% to $45.0 million and gross profit margin improved to 48.9%, while volume declined 3.7% and GAAP net loss widened to $2.9 million from $0.7 million. Adjusted EBITDA improved to $0.5 million, and the Company continued its full-year outlook.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $45.0 million | – | 1.1% |
| Volumeother | 3.7% decline | – | 3.7% decline |
| Gross profit marginGAAP | 48.9% | – | 0.2 percentage points |
| Selling and marketing expensesGAAP | $13.1 million, or 29.0% of net sales | – | – |
| Selling expensesGAAP | $8.1 million, or 17.9% of net sales | – | a decrease of $0.6 million |
| Marketing expensesGAAP | $5.0 million, or 11.1% of net sales | – | an increase of $0.3 million |
| General and administrative expensesGAAP | $8.6 million, or 19.0% of net sales | – | – |
| Equity-based compensationGAAP | $2.1 million | – | $1.1 million increase |
| Restructuring expensesGAAP | $1.0 million | – | – |
| Net lossGAAP | $2.9 million | – | an increase in net loss of $2.3 million |
| Loss per share to Zevia’s Class A Common stockholdersGAAP | $0.04 | – | – |
| Adjusted net lossnon-GAAP | $1.8 million | – | – |
| Adjusted EBITDAnon-GAAP | $0.5 million | – | an improvement of $0.3 million |
| First-half net sales growthGAAP | 10.4% | – | 10.4% |
full year 2026 and third quarter of 2026 outlook
- RevenueFor the full year 2026, net sales to be in the range of $170 million to $175 million
- NoteFor the full year 2026, an adjusted EBITDA loss of between $2.0 million and $4.0 million
- NoteFor the third quarter of 2026, net sales to be in the range of $44.0 million to $46.0 million
- NoteFor the third quarter of 2026, an adjusted EBITDA loss of between $3.0 million and $3.5 million
What drove it
- Net sales growth was due to pricing actions, partially offset by a 3.7% decline in volume, primarily reflecting the comparison against distribution load-ins in the prior-year period.
- Gross profit margin increased primarily from pricing actions, partially offset by higher aluminum costs.
- Selling-expense savings reflected the Productivity Initiative, lower distribution fees, and lower other direct selling costs.
- Higher freight costs were driven by increased fuel rates.
- Marketing expense increased due to investments to drive brand awareness.
- General and administrative expense increased due to higher personnel-related costs and outside service expenses, partially offset by lower accrued variable compensation.
- The increase in equity-based compensation was primarily driven by equity awards granted in connection with the Company's brand endorsement agreement with Cardi B.
- Restructuring expenses primarily consisted of contract termination costs and freight costs incurred to transfer inventory as part of the Company's productivity initiatives.
Concerns
- Volume declined 3.7%.
- GAAP net loss increased to $2.9 million from $0.7 million.
- Equity-based compensation increased to $2.1 million from $1.0 million.
- General and administrative expenses increased to $8.6 million, or 19.0% of net sales, from $8.1 million, or 18.2% of net sales.
- The third-quarter outlook calls for an adjusted EBITDA loss of between $3.0 million and $3.5 million.
- The Company cited higher aluminum costs and higher freight costs driven by increased fuel rates.
What to watch
- Whether pricing actions continue to offset volume trends.
- Execution of the stated go-to-market strategy, brand identity initiatives, financial discipline, and performance-driven culture.
- Progress under the Productivity Initiative and its effects on warehousing, repackaging, distribution, and direct selling costs.
- Third-quarter net sales relative to the range of $44.0 million to $46.0 million.
- Third-quarter adjusted EBITDA loss relative to the range of $3.0 million to $3.5 million.
- Full-year net sales relative to the range of $170 million to $175 million and adjusted EBITDA loss relative to between $2.0 million and $4.0 million.
Balance sheet and cash flow
- As of June 30, 2026, the Company had $28.5 million in cash and cash equivalents.
- The Company had no outstanding debt.
- The Company had an unused credit line of $20 million.
Analysis
Second-quarter net sales grew 1.1% to $45.0 million from $44.5 million. Pricing actions supported growth, but volume declined 3.7%, which the Company said primarily reflected comparison against prior-year distribution load-ins. Management also cited net sales growth of 10.4% in the first half of 2026, although the release did not provide the underlying first-half sales amount.
Gross profit margin improved 0.2 percentage points to 48.9%, as pricing actions more than offset higher aluminum costs. Selling and marketing expense declined to $13.1 million from $13.4 million, with selling expense down $0.6 million through Productivity Initiative savings, lower distribution fees, and lower other direct selling costs. Those savings were partly offset by fuel-driven freight costs, while marketing expense rose $0.3 million to support brand awareness.
Profitability remained mixed. General and administrative expense increased to $8.6 million from $8.1 million, and equity-based compensation rose to $2.1 million from $1.0 million, primarily due to awards linked to the Cardi B brand endorsement agreement. Restructuring expenses were $1.0 million. GAAP net loss widened to $2.9 million, or $0.04 per share, from $0.7 million, or $0.01 per share, while adjusted net loss was $1.8 million compared with $0.6 million.
On a non-GAAP basis, Adjusted EBITDA improved to $0.5 million from $0.2 million. The Company ended the period with $28.5 million in cash and cash equivalents, no outstanding debt, and an unused credit line of $20 million. Zevia continued to expect full-year net sales of $170 million to $175 million and an adjusted EBITDA loss of between $2.0 million and $4.0 million. Third-quarter guidance calls for net sales of $44.0 million to $46.0 million and an adjusted EBITDA loss of between $3.0 million and $3.5 million.
Management, verbatim
Stepping into the role as CEO of Zevia, I am excited to begin this new chapter following net sales growth of 10.4% in the first half of 2026, which demonstrates the strong momentum in our business.
Alexandre Ruberti, President and CEO of Zevia
We are working aggressively to build a strategic plan that we believe will accelerate growth and deliver sustainable outcomes for the organization. Our immediate areas of focus are to evolve the go-to market strategy, sharpen and scale our brand identity, execute with financial discipline, and establish a performance driven culture.
Alexandre Ruberti, President and CEO of Zevia
Our first half of 2026 reflects steady execution and a continued focus on our strategic growth pillars.
Girish Satya, Chief Financial Officer of Zevia
Not in the filing
stated, not guessed- Prior-quarter comparisons for reported operating metrics.
- Gross profit dollars.
- GAAP operating income or loss and operating margin.
- GAAP net income attributable to common stockholders beyond the reported net loss and loss per share.
- Diluted weighted-average shares outstanding.
- Cash flow from operations.
- Free cash flow.
- Capital expenditures.
- Share repurchases, dividends, and other capital-return activity.
- Segment revenue disclosures.
- Full-year and third-quarter gross-margin guidance.
- Full-year and third-quarter operating-expense guidance.
- Full-year and third-quarter tax-rate guidance.
- Forward-looking GAAP equivalent and reconciliation for Adjusted EBITDA outlook.
- Prior outlook for comparison with actual results.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is Zevia’s SEC 8-K filing for Q2 2026 results (Item 2.02) with an attached earnings release and 2026 outlook.
Ticker impact
Zevia reported Q2 net sales of $45.0M, improved gross margin to 48.9%, and guided FY2026 net sales to $170M-$175M with adjusted EBITDA loss of $2.0M-$4.0M.
Likely modest volatility around the release and call, driven by whether investors focus on sales growth at the high end of outlook versus continued adjusted EBITDA losses.
The filing includes specific Q2 datapoints (sales, margin, net loss, adjusted EBITDA) and explicit FY and Q3 guidance ranges, which are direct inputs to valuation and positioning.
Market effects
Signals ongoing cost discipline and pricing-led revenue support for zero-sugar beverage brands, but highlights margin sensitivity to aluminum and freight.
No specific regional demand signal beyond company-wide financials.
Limited, as the disclosure is company-specific with no stated international regulatory or macro shock.
Counterpoint
Investors may discount the gross margin improvement if volume softness (down 3.7%) persists, implying pricing is masking demand weakness.
Key entities
- public_companyZevia PBC
Reports Q2 2026 results and provides FY2026 and Q3 2026 guidance in the 8-K earnings release.
- executiveAlexandre Ruberti
CEO quoted on strategic priorities and momentum in 2026.
- executiveGirish Satya
CFO quoted on outlook and disciplined execution.
- contractCardi B brand endorsement agreement
Mentioned as the driver of higher equity awards in Q2.
