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Zevia PBC (NYSE:ZVIA), a player in the bottled and canned soft drinks industry with a market capitalization of $237.3 million, disclosed its financial outcomes for the fourth quarter and the full fiscal year that concluded on December 31, 2024. The announcement comes as the stock experiences significant volatility, having declined 10.4% in the past week despite an impressive 186% gain over the last six months. The announcement was made public on Tuesday, as part of an earnings release attached to the company’s 8-K filing with the Securities and Exchange Commission (SEC).
The report, which is not considered filed under the SEC’s rules and will not be incorporated by reference into any future filings, outlines the company’s performance metrics for the specified period. However, the 8-K document did not provide specific figures for the earnings results.
Zevia PBC, which is recognized as an emerging growth company, operates out of its headquarters in Encino, California, and is incorporated in Delaware. The company’s Class A common stock is listed on the New York Stock Exchange under the ticker symbol ZVIA.
The financial statements and exhibits, including the earnings release, are part of the company’s official records submitted to the SEC. These documents serve as a means for investors and the public to stay informed about Zevia PBC’s financial health and business operations.
The details of the earnings report are crucial for stakeholders to assess the company’s recent financial trajectory and to make informed decisions. However, the 8-K filing did not elaborate on the specifics of the earnings, such as revenue, net income, or earnings per share.
As of the time of reporting, Zevia PBC has not provided any additional commentary or guidance related to the financial results or its future prospects. The information is strictly based on the press release statement issued by the company and filed with the SEC.
Investors and interested parties can refer to the complete earnings release document, identified as Exhibit 99.1 in the 8-K filing, for a detailed account of the company’s financial performance during the fourth quarter and the entire year of 2024.
In other recent news, Zevia PBC reported fourth-quarter consolidated revenues of $39.5 million, aligning with the higher end of its guidance range and slightly surpassing estimates from Loop Capital Markets. Despite this positive revenue outcome, the company anticipates a larger-than-expected adjusted EBITDA loss for the same period, projected between $3.9 million and $4.2 million, compared to the earlier estimate of a $1.8 million to $2.2 million loss. This revision is attributed to increased investments during the holiday season. Loop Capital maintained a Buy rating on Zevia, raising the price target from $2.00 to $6.00, indicating confidence in the company’s growth despite the wider loss.
Additionally, Zevia has forecasted 2024 net sales to be around $155 million, within its previous range, but also expects a wider adjusted EBITDA loss for the year, estimated between $15.2 million and $15.5 million. In executive news, Zevia announced the upcoming departure of Lorna R. Simms, the Senior Vice President, General Counsel, and Corporate Secretary, effective April 4, 2025. Her departure follows a mutual decision and includes a separation agreement with benefits as per an existing severance agreement. The company has not announced a successor for her role. These developments are being closely monitored by investors as they may impact Zevia’s strategic direction and financial performance.
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