$JSDA

JONES SODA CO

CIK:0001083522|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net Revenue	$ 10,168	$ 4,894	$ 22,600	$ 9,124
Cost of goods sold	(7,376)	(3,266)	(15,910)	(6,101)
Gross profit	2,792	1,628	6,690	3,023
Operating expenses:
Selling and marketing	1,900	1,060	3,936	2,173
General and administrative	1,417	1,328	2,926	2,531
Total operating expenses	(3,317)	(2,388)	(6,862)	(4,704)
Loss from operations	(525)	(760)	(172)	(1,681)
Other income (expenses):
Interest income	5	5	19	6
Interest expense	(126)	(70)	(366)	(148)
Other (expense) income, net	(1)	(179)	(11)	(273)
Gain on disposition of subsidiaries		3,663		3,663
Total other income (expense)	(122)	3,419	(358)	3,248
Income (loss) before income taxes	(647)	2,659	(530)	1,567
Income tax expense, net	(3)	(7)	(5)	(7)
Net income (loss) from continuing operations	(650)	2,652	(535)	1,560
Loss (income) from discontinued operations		(41)		199
Net income (loss)	$ (650)	$ 2,611	$ (535)	$ 1,759
Earning (loss) per share – basic and diluted
Income (loss) from continuing operations	$ (0.01)	$ 0.02	$ (0.00)	$ 0.01
Income from discontinued operations		0.00		0.01
Total	$ (0.01)	$ 0.02	$ (0.00)	$ 0.02
Weighted average common shares outstanding , basic	118,780,917	116,180,383	118,698,360	116,023,676
Weighted average common shares outstanding , diluted	118,780,917	116,180,383	118,698,360	116,023,676

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
OPERATING ACTIVITIES:
Net income (loss)	$ (650)	$ 2,611	$ (535)	$ 1,759
Less: Income from discontinued operations				(199)
Net income (loss) from continuing operations	(650)	2,652	(535)	1,560
Adjustments to reconcile net income (loss) to net cash flows used in operating activities:
Accretion of interest of note receivable				(5)
Accretion of interest of loan payable			242
Change in allowance for credit losses			25	(46)
Depreciation			171	30
Finance costs			124	117
Finance income			(15)
Gain on disposition of subsidiaries		(3,663)		(3,663)
Licensing fees			(84)
Stock-based compensation			235	287
Write-off of obsolete inventory				(38)
Changes in operating assets and liabilities:
Accounts receivable			267	(805)
Inventories			(2,049)	145
Prefunded insurance premiums from financing			125	141
Prepaid expenses and other current assets			226	(855)
Accounts payable			(1,029)	1,403
Accrued expenses			(558)	(862)
Net cash used in continuing operations			(2,855)	(2,591)
INVESTING ACTIVITIES:
Cash receipts from licensing fee receivables			150
Disposal of a subsidiary, net of cash disposed of				617
Proceeds from disposal of property, plant and equipment				4
Proceeds from sale of note receivable			1,400
Purchase of property, plant and equipment			(33)
Net cash provided by investing activities			1,517	621
FINANCING ACTIVITIES:
Net cash from revolving credit facility			457	587
Proceeds on issuance of promissory notes				450
Repayment of promissory notes			(190)	(165)	$ (300)
Repayments on insurance financing			(125)	(141)
Net cash provided by financing activities			142	731
Net cash provided by operating activities of discontinued operations				288
Net cash Provided by discontinued operations				288
Net change in cash			(1,196)	(951)
Effect of exchange rate changes on cash			(52)	68
Cash from continuing operations, beginning of period			3,599	1,275	1,275
Cash from discontinued operations, beginning of period				258	258
Cash, end of period	$ 2,351	$ 650	2,351	650	$ 3,599
Supplemental disclosure:
Interest			238	97
Income taxes

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 2,351	$ 3,599
Accounts receivable, net of allowance of $75 and $50, respectively	3,280	3,603
Note receivable		1,400
Current licensing fees receivable	225	150
Inventories, net	4,689	2,657
Prefunded insurance premiums from financing	71	214
Prepaid expenses and other current assets	996	1,224
Deferred financing costs	415	415
Total current assets	12,027	13,262
Long-term licensing fees receivable	1,521	1,647
Fixed assets, net of accumulated depreciation of $754 and $583, respectively	183	321
Total assets	13,731	15,230
Current liabilities:
Accounts payable	5,340	6,378
Accrued expenses	3,376	3,960
Revolving credit facility and loans	3,721	3,022
Insurance premium financing	71	214
Promissory notes		190
Total current liabilities	12,508	13,764
Total liabilities	12,508	13,764
Commitments and contingencies (Note 14)
Shareholders’ equity:
Common stock, no par value:Authorized — 800,000,000. Issued and outstanding shares — 118,780,917 shares and 118,227,478 shares, respectively	96,254	95,895
Accumulated other comprehensive income	232	299
Accumulated deficit	(95,263)	(94,728)
Total shareholders’ equity	1,223	1,466
Total liabilities and shareholders’ equity	$ 13,731	$ 15,230