The following is a summary of the Zevia PBC (ZVIA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Zevia's Q1 2024 reported net sales were $38.8 million, a decrease of 10.4% from the previous year.

• The gross margin was down by 0.8% to 45.7% compared to the same quarter a year ago.

• The company had a net loss of $7.2 million, showing an increase of $4.3 million from the previous year.

• The company's 2024 net sales guidance ranges from $158 million to $166 million.

Business Progress:

• Zevia has initiated a significant productivity initiative set to enhance long-term growth and profitability, with plans to accelerate the Direct Store Delivery (DSD) rollout, increase investments in digital channels and brand activation, and focus more on product innovation.

• The company intends to save costs by optimizing contract manufacturing strategies and reducing shipping logistic and product costs.

• Zevia aims to achieve profitability by 2026; the company plans to accomplish this by driving top-line growth and ensuring route-to-market evolution.

• The company strategy includes expanding its footprint beyond conventional grocery stores using the DSD model.

More details: Zevia IR

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