Second Quarter 2026
Filed Aug 4, 2026Net sales increased 11.6% year-over-year to $83.9 million; fiscal year 2026 outlook updated for near-term softness concentrated in the grocery channel.
Second-quarter net sales and Adjusted EBITDA grew at double-digit and 50.0% rates, respectively, but gross margin declined, the Company updated its outlook for grocery-channel softness, and GAAP net loss included $25.1 million of IPO-related transaction costs and $2.3 million of loss on debt extinguishment.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $83.9 million | – | 11.6% |
| Cost of salesGAAP | $(44,689) ($ in thousands) | – | – |
| Gross profitGAAP | $39.2 million | – | 9.9% |
| Gross profit marginGAAP | 46.7% | – | – |
| Operating expensesGAAP | $(34,632) ($ in thousands) | – | – |
| Other SG&A expensesGAAP | $34.6 million or 41.3% of net sales | – | 360bps of year-over-year change |
| Transaction costsGAAP | $(25,077) ($ in thousands) | – | – |
| Income (loss) from operationsGAAP | $(20,543) ($ in thousands) | – | – |
| Other income (expense), netGAAP | $(31) ($ in thousands) | – | – |
| Loss on debt extinguishmentGAAP | $(2,273) ($ in thousands) | – | – |
| Interest expenseGAAP | $(5,423) ($ in thousands) | – | – |
| Loss before taxesGAAP | $(28,270) ($ in thousands) | – | – |
| Provision for income taxesGAAP | $472 ($ in thousands) | – | – |
| Net lossGAAP | $(27.8) million | – | increased 391% |
| Net loss marginGAAP | (33.2)% | – | – |
| Net income (loss) attributable to Suja Life, Inc.GAAP | $(3,268) ($ in thousands) | – | – |
| Net loss per Class A common stock - basic and dilutedGAAP | $(0.14) | – | – |
| Weighted-average Class A common stock outstanding—basic and dilutedGAAP | 23,788,700 | – | – |
| EBITDAnon-GAAP | $(15,286) ($ in thousands) | – | – |
| EBITDA marginnon-GAAP | (18.2)% | – | – |
| Adjusted EBITDAnon-GAAP | $14.6 million | – | 50.0% |
| Adjusted EBITDA marginnon-GAAP | 17.5% | – | – |
| Six-month net salesGAAP | $190,913 ($ in thousands) | – | – |
| Six-month gross profitGAAP | $93,281 ($ in thousands) | – | – |
| Six-month income (loss) from operationsGAAP | $(4,263) ($ in thousands) | – | – |
| Six-month net lossGAAP | $(20,064) ($ in thousands) | – | – |
| Six-month Adjusted EBITDAnon-GAAP | $39,671 ($ in thousands) | – | – |
| Six-month Adjusted EBITDA marginnon-GAAP | 20.8% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Suja CoreDriven by significant year-over-year growth on Vive and Suja shots as well as strong performance on cold pressed juice. | $81.9 million | – | 9.8% |
| Emerging BrandsReflecting continued distribution gains and the success of new product innovation. | $3.0 million | – | 61.2% |
full fiscal year 2026 ending December 28, 2026 outlook
- Revenue$360 million to $369 million, reflecting growth of 10.2% to 13.0% compared to $326.6 million in fiscal 2025
- Tax ratebase tax rate of 26.1%
- NoteAdjusted EBITDA of $70 million to $72 million, reflecting growth of 72.8% to 77.7% compared to $40.5 million in fiscal 2025
- Noteinterest expense to be approximately $19.0 million for the year ending December 28, 2026
- NoteAdjusted EBITDA guidance is consistent with prior expectations.
- NoteGuidance does not reflect any expected benefits of the proposed refinancing.
What drove it
- Net sales growth was driven primarily by volume growth across key products and retailers and new product distribution gains, partially offset by shipment timing at the beginning of the quarter that benefited Q1.
- The gross-margin decline was primarily driven by unfavorable absorption timing as the Company built inventory in Q1 that was sold in Q2.
- The 360bps of year-over-year change in other SG&A expenses was driven by the lapping of one-time startup costs in Emerging Brands and disciplined deployment of fixed spending into the business.
- Adjusted EBITDA growth reflected supply chain, operations and procurement teams managing cost headwinds without passing price increases on to consumers.
Concerns
- The outlook update reflects near-term softness concentrated in the grocery channel.
- Net loss was impacted by one-time IPO-related transaction costs of $25.1 million and loss on debt extinguishment of $2.3 million.
- Gross profit margin declined to 46.7% from 47.4%.
- The proposed refinancing would have one-time costs at close associated with retiring the existing facilities.
What to watch
- Net sales performance in the grocery channel relative to the updated fiscal year 2026 outlook of $360 million to $369 million.
- Whether volume growth, retailer gains and new product distribution continue across Suja Core and Emerging Brands.
- Gross-margin effects from inventory absorption timing and the Company's management of cost headwinds.
- Completion and terms of the proposed cost-of-capital refinancing, which would not add leverage and whose expected benefits are not reflected in guidance.
- Expansion of the Oceanside campus manufacturing footprint and infrastructure for future capacity.
Balance sheet and cash flow
- As of June 29, 2026, cash was $20.6 million, compared to $31.0 million as of December 29, 2025.
- As of June 29, 2026, total debt was $163.0 million, compared to $303.9 million as of December 29, 2025, prior to the completion of the IPO.
- Net cash used in operating activities for the six months ended June 29, 2026 was $(5,150) ($ in thousands), compared to $(3,041) ($ in thousands).
- Purchase of property and equipment for the six months ended June 29, 2026 was $(13,407) ($ in thousands), compared to $(6,395) ($ in thousands).
- Net cash used in investing activities for the six months ended June 29, 2026 was $(13,921) ($ in thousands), compared to $(6,409) ($ in thousands).
- Proceeds from the IPO, net underwriting discounts and offering expenses, were $164,829 ($ in thousands) for the six months ended June 29, 2026.
- Repayments of term loan were $(101,626) ($ in thousands) and repayments of revolver loan were $(40,000) ($ in thousands) for the six months ended June 29, 2026.
- Net cash used in financing activities was $8,641 ($ in thousands) for the six months ended June 29, 2026, compared to $1,735 ($ in thousands).
Analysis
Suja reported second-quarter net sales of $83.9 million, up 11.6% from $75.2 million. The Company attributed the increase primarily to volume growth across key products and retailers and new product distribution gains, partly offset by shipment timing at the beginning of the quarter that benefited Q1. Suja Core net sales grew 9.8% to $81.9 million, while Emerging Brands net sales rose 61.2% to $3.0 million on distribution gains and new product innovation.
Gross profit increased 9.9% to $39.2 million, but gross profit margin declined to 46.7% from 47.4%. Management attributed the margin decline to unfavorable absorption timing from inventory built in Q1 and sold in Q2. Other SG&A expenses were $34.6 million, or 41.3% of net sales, versus $33.8 million, or 44.9% of net sales, with the stated 360bps year-over-year change reflecting the lapping of one-time Emerging Brands startup costs and disciplined fixed-spending deployment.
GAAP results were affected by IPO-related and financing items. Net loss was $(27.8) million, compared with $(5.7) million, and included $25.1 million of one-time IPO-related transaction costs and $2.3 million of loss on debt extinguishment. In contrast, Adjusted EBITDA increased 50.0% to $14.6 million and Adjusted EBITDA margin improved to 17.5% from 13.0%. For the first six months, net cash used in operating activities was $(5,150) ($ in thousands), while purchases of property and equipment were $(13,407) ($ in thousands).
At June 29, 2026, cash was $20.6 million and total debt was $163.0 million, compared with $31.0 million and $303.9 million, respectively, at December 29, 2025. The Company updated its fiscal-year outlook in response to near-term grocery-channel softness, now expecting net sales of $360 million to $369 million and Adjusted EBITDA of $70 million to $72 million. The Company also reduced its expected base tax rate to 26.1% from 27.4%, maintained expected interest expense at approximately $19.0 million, and said its guidance does not reflect potential benefits from a proposed refinancing.
Management, verbatim
We are pleased to report double-digit net sales growth in the second quarter, a result that reflects continued consumer adoption of our portfolio and brand momentum as we outperformed the natural healthy beverage category that we operate in.
Maria Stipp, Chief Executive Officer
Our supply chain, operations, and procurement teams continue to demonstrate the competitive strength of our vertically integrated platform by managing through cost headwinds during the quarter while delivering meaningful Adjusted EBITDA growth, without passing price increases on to consumers.
Maria Stipp, Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided; therefore, no actual-versus-prior-guidance comparisons are available.
- Prior-quarter comparisons for reported second-quarter metrics were not provided.
- Quarterly operating cash flow was not provided; only six-month cash flow was reported.
- Free cash flow was not reported.
- Share repurchases and dividends were not reported.
- Forward gross-margin and operating-expense guidance were not reported.
- A forward reconciliation of Adjusted EBITDA to net income (loss) was not provided.
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.