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Earnings Call Summary | Zevia(ZVIA.US) Q1 2024 Earnings Conference

moomoo AI ·  May 11 10:35  · Conference Call

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

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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