$ZVIA

Zevia PBC

CIK:0001854139|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net sales	$ 45,002	$ 44,524	$ 91,093	$ 82,547
Cost of goods sold	22,977	22,834	46,778	41,822
Gross profit	22,025	21,690	44,315	40,725
Operating expenses:
Selling and marketing	13,062	13,375	27,597	28,698
General and administrative	8,553	8,082	17,619	15,060
Equity-based compensation	2,079	982	2,973	1,713
Depreciation and amortization	182	236	351	488
Restructuring	1,037	31	1,037	2,169
Total operating expenses	24,913	22,706	49,577	48,128
Loss from operations	(2,888)	(1,016)	(5,262)	(7,403)
Other (expense) income, net	(14)	382	35	439
Loss before income taxes	(2,902)	(634)	(5,227)	(6,964)
Provision for income taxes	12	17	50	58
Net loss and comprehensive loss	(2,914)	(651)	(5,277)	(7,022)
Loss (income) attributable to noncontrolling interest	108	(46)	204	1,099
Net loss attributable to Zevia PBC	$ (2,806)	$ (697)	$ (5,073)	$ (5,923)
Net loss per share attributable to common stockholders
Basic (in dollars per share)	$ (0.04)	$ (0.01)	$ (0.07)	$ (0.09)
Diluted (in dollars per share)	$ (0.04)	$ (0.01)	$ (0.07)	$ (0.09)
Weighted average common shares outstanding
Basic (in shares)	71,833,745	66,332,703	70,029,702	64,651,141
Diluted (in shares)	71,833,745	66,332,703	70,029,702	64,651,141

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net loss	$ (5,277)	$ (7,022)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Non-cash lease expense	274	275
Depreciation and amortization	351	488
Loss on disposal of property, equipment and software, net	0	8
Amortization of debt issuance cost	43	38
Equity-based compensation	2,973	1,713
Changes in operating assets and liabilities:
Accounts receivable, net	1,102	(2,325)
Inventories	2,877	2,878
Prepaid expenses and other assets	(1,244)	90
Accounts payable	2,595	(1,000)
Accrued expenses and other current liabilities	615	772
Operating lease liabilities	(359)	(227)
Net cash provided by (used in) operating activities	3,950	(4,312)
Investing activities:
Purchases of property, equipment and software	(394)	(45)
Net cash used in investing activities	(394)	(45)
Financing activities:
Proceeds from exercise of stock options	1	59
Equity financing costs paid	(244)	(54)
Debt issuance costs paid	(195)	0
Net cash (used in) provided by financing activities	(438)	5
Net change from operating, investing, and financing activities	3,118	(4,352)
Cash and cash equivalents at beginning of period	25,354	30,653
Cash and cash equivalents at end of period	28,472	26,301
Non-cash investing and financing activities
Capital expenditures included in accounts payable	11	69
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes	71	22
Conversion of Class B Common Stock into Class A Common Stock [Member]
Non-cash investing and financing activities
Conversion of Class B common stock to Class A common stock	4,808	7,709
Accounts Payable [Member]
Non-cash investing and financing activities
Equity financing costs	247	136
Accrued Expenses and Other Current Liabilities [Member]
Non-cash investing and financing activities
Equity financing costs	$ 16	$ 0

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 28,472	$ 25,354
Accounts receivable, net	10,004	11,106
Inventories	17,516	20,393
Prepaid expenses and other current assets	2,610	1,367
Total current assets	58,602	58,220
Property and equipment, net	820	867
Right-of-use assets under operating leases, net	275	549
Intangible assets, net	3,105	3,135
Other non-current assets	1,376	849
Total assets	64,178	63,620
LIABILITIES AND EQUITY
Accounts payable	20,154	17,565
Accrued expenses and other current liabilities	10,417	9,786
Current portion of operating lease liabilities	309	668
Total current liabilities	30,880	28,019
Total liabilities	30,880	28,019
Commitments and contingencies (Note 9)
Stockholders’ equity
Preferred Stock, $0.001 par value. 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025.	0	0
Additional paid-in capital	180,390	182,226
Accumulated deficit	(136,335)	(131,262)
Total Zevia PBC stockholders’ equity	44,132	51,039
Noncontrolling interests	(10,834)	(15,438)
Total equity	33,298	35,601
Total liabilities and equity	64,178	63,620
Common Class A [Member]
Stockholders’ equity
Common stock, value	71	67
Common Class B [Member]
Stockholders’ equity
Common stock, value	$ 6	$ 8