Zevia Shares Soar On Better-Than-Expected Q2 Top-Line Performance

Zevia Shares Soar On Better-Than-Expected Q2 Top-Line Performance
  • Zevia PBC ZVIA reported second-quarter FY22 sales growth of 33% year-on-year to $45.54 million, beating the consensus of $42.17 million.
  • Unit volume climbed 30% Y/Y to 3.9 million equivalized cases.
  • Gross profit grew 7% to $17.4 million, while the margin contracted 920 basis points to 38.1%, reflecting the impact of broad-based inflationary pressures.
  • Loss from operations for the quarter widened sharply to $(14.7) million.
  • The company held $49.6 million in cash and equivalents as of June 30, 2022.
  • EPS loss for the quarter was $(0.28). Adjusted EBITDA loss for the quarter widened to $(6.4) million.
  • "Growth was balanced across channels as we continued to expand our distribution with new and existing customers," said CEO Amy Taylor.
  • Outlook: Zevia maintained its FY22 sales forecast of $177 million - $182 million, versus the consensus of $178.49 million.
  • The company expects Q3 sales of $46 million - $48 million, below the estimate of $52.15 million.
  • Price Action: ZVIA shares are trading higher by 16.22% at $3.94 on the last check Thursday.

Posted In: BriefsEarningsNewsPenny StocksGuidanceMoversTrading Ideas