Zevia PBC (ZVIA) Market Cap
Zevia PBC has a market capitalization of $80.3M.
Financials based on reported quarter end 2025-12-31
Price: $1.19
▼ -0.07 (-5.56%)
Market Cap: 80.31M
NYSE · time unavailable
CEO: Amy E. Taylor
Sector: Consumer Defensive
Industry: Beverages - Non-Alcoholic
IPO Date: 2021-07-22
Website: https://www.zevia.com
Zevia PBC (ZVIA) - Company Information
Market Cap: 80.31M · Sector: Consumer Defensive
Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels. It provides its products under the Zevia brand name. The company was founded in 2007 and is headquartered in Encino, California.
Analyst Sentiment
Based on 8 ratings
Analyst 1Y Forecast: $5.00
Average target (based on 3 sources)
Consensus Price Target
Low
$4
Median
$4
High
$4
Average
$4
Potential Upside: 236.1%
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"ZVIA reported revenue of $37.87M for the year ending December 31, 2025, but incurred a net loss of $1.35M, leading to an EPS of -$0.0201. The company has total assets of $63.62M against total liabilities of $28.02M, resulting in a total equity of $35.60M and negative net debt of $24.69M, indicating a strong cash position relative to debt obligations. However, the operating cash flow was negative at -$507k, reflecting challenges in operational efficiency. The company does not pay dividends and has experienced a significant price depreciation of over 44% in the past year, indicating weak market sentiment. With a current share price of $1.23, the market performance suggests difficulties in maintaining investor confidence. This lack of shareholder returns combined with ongoing operating losses reflects broader challenges that ZVIA will need to address to achieve sustainable growth."
Revenue Growth
Moderate revenue; growth rates need improvement.
Profitability
Negative net income; faces significant profitability challenges.
Cash Flow Quality
Negative operating cash flow raises concerns over cash generation.
Leverage & Balance Sheet
Strong balance sheet with low net debt, providing some cushion.
Shareholder Returns
No dividends and poor stock performance negatively impact score.
Analyst Sentiment & Valuation
Negative market performance and stagnant price target affect sentiment.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Zevia’s Q4 shows operational progress but near-term financial pressure from timing and tariffs. Management highlighted that Q4 adjusted EBITDA reached breakeven (~$50k) despite net sales falling 4% to $37.9M. The key culprit in the Q&A was not demand collapse—it was Costco timing: planned Q4 regional rotations were shifted into a broader national rotation in Q1, explaining a ~$1M miss versus the prior Q4 top-line guide. Tariffs remain a concrete hurdle: gross margin fell 150 bps YoY to 47.7% in Q4, and management guided to an incremental $5M in tariff-related aluminum costs starting in Q2. Mitigation is explicit—(1) price increase beginning Q2 (scale not quantified; elasticity assumed ~1.1) and (2) the last tranche of $5M productivity savings also hitting P&L in Q2. Analysts pressed for packaging timing and Costco regional penetration; management confirmed rolling packaging launch largely into Q2 and that ~35%–40% of Costco regions are net-new. Overall tone in prepared remarks is confident, but Q&A reveals the market will likely view 2026 margin recovery as dependent on execution around Q2 price/tariff offsets.
Growth Catalysts
- National rotation expansion at Costco (front-of-store placement; new 30k variety pack becoming available nationwide)
- 2025 product innovation: Strawberry Lemon Burst and retailer-exclusive Orange Creamsicle (Sprouts #1 six-pack immediately post-launch; Orange Creamsicle becoming a hero flavor of 2026)
- Improved taste rollout: new fruity variety pack found across retail starting in spring resets
- 2025 distribution gains: nationwide presence in Walmart (anchor brand in modern soda set) and increased shelf space/eye-level placement at Albertsons via vertical brand block
Business Development
- Costco: trade-up from an existing regional rotation in Q4 to a new national rotation launched in January (brand visibility/penetration in new regions)
- Walmart: anchor brand within modern soda set; increased innovation/assortment and mix productivity; lapping pipeline fill from Nov/Dec 2024 impacted Q4
- Albertsons: increased space + eye-level placement (vertical brand block) with growth and share gains; cited as a case study for other grocers
- Sprouts: Orange Creamsicle named #1 six-pack at launch
- DSD grocery distribution partners (Pacific Northwest/Arizona mentioned via DSD operators) improving grocery outperforming rest of market
Financial Highlights
- Q4 net sales: $37.9M, down 4% YoY (primarily Costco timing/rotation shift; also Walmart pipeline fill lapping and Costco rotation trade-up into January)
- Q4 adjusted EBITDA: breakeven (~$50k) vs prior year adjusted EBITDA loss of $3.9M
- Q4 gross margin: 47.7% vs 49.2% prior year (down 150 bps), driven by channel mix (return to club) and higher tariff costs (offset by lower promotional activity)
- Q4 marketing expense: $3.6M (9.6% of net sales) vs $6.5M (16.5%) prior year (lapped prior holiday campaign investment timing)
- Full-year 2025 net sales: $161.3M (+4% YoY)
- Full-year adjusted EBITDA: loss improved to $(4.7)M vs $(15.2)M in 2024 (management described as 'threefold' improvement)
- Full-year gross margin: 48.0% vs 46.4% in 2024 (up 160 bps)
- Full-year 2025 net loss: $(11.1)M vs $(23.8)M in 2024
- 2026 guidance: net sales $169M–$173M (+~6% at midpoint) with tea line discontinuation impacting growth by 1 to 1.5 points
- 2026 profitability guidance: adjusted EBITDA range loss $(1.0)M to +$0.5M incorporating incremental $5M tariff-related aluminum costs beginning in Q2; gross margins expected in high-40% range starting in Q2 barring further aluminum increases
- Q1 2026 guidance: net sales $40M–$42M; adjusted EBITDA loss $(1.6)M–$(1.9)M with mid-40s gross margin
Capital Funding
- Ended Q4 with ~$25.4M cash and cash equivalents
- Undrawn revolving credit line: $20M
Strategy & Ops
- Costco channel shift timing: planned regional rotations in Q4 moved into broader national rotation in Q1 (explained as primary reason for missing Q4 top-line guide)
- Product/package rollout: 'rolling launch' largely into Q2; packaging 'starting to show up on shelf now'; improved taste across legacy/classic flavors rolling in parallel
- Marketing as % of revenue: 2025 finished around ~$20M spend (implied), with 2026 marketing investment expected at 12%–13% of revenue (slight % increase vs 2025)
- Product innovation pipeline for 2026: fruity variety pack and national rollout of Fruit Punch and Peaches & Cream; improved classic flavor taste carried into 2026
- DSD operator approach: time-in-market with DSD yields stronger results; singles programs showing better performance due to improved execution in grocery with DSD partners
Market Outlook
- 2026 net sales guidance: $169M–$173M (+6% midpoint)
- Tea line discontinuation expected to reduce 2026 growth by 1 to 1.5 percentage points
- Cadence expectation: higher volumes in Q1 and Q3; Q2 pressured by tea discontinuation and lapping sell-ins to Walgreens/Albertsons from prior year plus marketing/promotional dollar shift from Q2 to Q3 to align with packaging rollout
- Planned price increases impact beginning in Q2
- Gross margin trajectory: downtick in Q1 (Costco national rotational program at lower margins) then return to upper 40s starting in Q2
Risks & Headwinds
- Tariffs/aluminum cost pressure: incremental $5M tariff-related aluminum costs beginning Q2 included in 2026 guidance; higher aluminum costs drove Q4 gross margin down 150 bps
- Channel-mix and timing headwinds: Q4 net sales down 4% due primarily to lapping Walmart pipeline fill and Costco rotation timing shift (regional rotations moved into national rotation in January)
- Gross margin compression: Q4 gross margin down 150 bps; Costco club mix and tariff costs cited as key drivers
- Visibility limits on retailer spring sets: company guides 'thoughtfully' acknowledging final spring set communications from several retailers not yet received
- Price/elasticity sensitivity: company takes price beginning Q2 as it did not take price last year; relies on elasticity ~1.1 baked into guidance
Sentiment: MIXED
Note: This summary was synthesized by AI from the ZVIA Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.