Jones Soda Reports Revenue of $10.2 Million for Q2 2026, Up 108%
Rhea-AI Summary
Jones Soda (CSE/OTCQB: JSDA) reported second-quarter 2026 net revenue of $10.2 million, up 108% from $4.9 million a year earlier, driven mainly by increased Fallout-branded product sales in club channels. Gross margin was 27.5%, down from 33.3%, largely due to higher logistics costs from elevated oil prices.
The quarter showed a net loss from continuing operations of $650,000 or $(0.01) per share, versus net income of $2.7 million in 2025, which included a $3.7 million one-time gain. Adjusted EBITDA loss improved to $(312,000) from $(739,000). Year-to-date revenue rose 147.7% to $22.6 million, with Adjusted EBITDA turning positive at $0.2 million. Management raised 2026 guidance, now expecting net revenue to exceed $45 million (at least ~80% growth) and to deliver positive Adjusted EBITDA for the full year.
Positive
- Q2 2026 revenue up 108% YoY to $10.2 million
- YTD 2026 revenue up 147.7% to $22.6 million
- Adjusted EBITDA improved to $(312,000) loss from $(739,000) in Q2 2025
- YTD Adjusted EBITDA swung to $0.2 million from $(1.7) million
- 2026 guidance raised to at least ~80% net revenue growth, >$45 million
- Liquidity bolstered by approximately $1.9 million in private placement proceeds
Negative
- Q2 gross margin fell to 27.5% from 33.3%, a 580 bps decline
- YTD gross margin declined to 30% from 33% in the prior year
- Q2 2026 net result was a $650,000 loss versus prior-year profit aided by a $3.7 million gain
- Q2 Adjusted EBITDA remained negative at $(312,000)
- Cash balance declined to $2.4 million from $3.6 million at December 31, 2025
News Explained
The immediate structural change is approximately $1.9 million of completed gross financing capital for working capital and growth initiatives.
Jones Soda reports that it completed a brokered private placement and the first tranche of a non-brokered private placement, raising approximately
The release reports cash of approximately
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Management raises expectation for FY2026 net revenue: Now it expects revenue to exceed
$45 million 80% year-over-year - Management adds full-year 2026 outlook to include positive Adjusted EBITDA
Management to Host Conference Call Thursday, August 13, 2026, at 8:30 a.m. ET
"We're very pleased with the progress we're making through disciplined and improved execution across the business," said Scott Harvey, CEO of Jones Soda Co. "During the quarter, we expanded our branded collaboration platform and introduced our Zero Sugar craft soda lineup into new retail channels. While the timing of certain shipments shifted approximately
"Looking ahead, we expect those shipments to contribute to the third quarter being one of the strongest quarters in the Company's history. Based on our year-to-date performance and the opportunities we see ahead, we're raising our full year revenue growth expectation from approximately
Second Quarter 2026 Financial Summary vs. Second Quarter 2025
- Revenue increased
107.8% to$10.2 million $4.9 million - Gross profit margin was
27.5% compared to33.3% in the year ago period. High oil prices was the primary driver for the lower margin. The Company has made progress reducing its freight expenses in the quarter and is seeing improved gross margins. - Net loss from continuing operations of
$650,000 $(0.01) $2.7 million $3.7 million $0.02 - Adjusted EBITDA1 loss from continuing operations was
$(312,000) $(739,000) $427,000
Year-to-date 2026 Financial Summary vs. Year-to-date 2025
- Revenue increased
147.7% to$22.6 million $9.1 million - Gross profit margin was
$6.7 million 30% of net revenue) compared to$3.0 million 33% of net revenue) in the year ago period. The decrease was primarily driven by higher world oil prices in the second quarter. - Net loss from continuing operations of
$0.5 million $(0.00) $1.6 million $3.7 million $0.01 - Adjusted EBITDA2 from continuing operations was
$0.2 million $1.7 million
Recent Business Highlights
- Announced a new collaboration with Rap Snacks, the Official Snack Brand of Hip Hop, to launch a line of hip hop inspired craft sodas, with revenue contribution expected to begin in fiscal 2027.
- Launched a new Zero Sugar craft soda lineup at
Western Canada club stores, broadening the Company's better-for-you beverage offerings and increasing retail presence in a key market. - Launched a second limited edition sale of Fallout Nuka Cola Quantum Rocket Bottles following the rapid sellout of the initial release, demonstrating continued consumer demand for the Fallout partnership.
- Completed a brokered private placement, raising approximately
$1.7 million - Completed the first tranche of non-brokered private placement, raising approximately
$0.2 million - Completed an RFP for major freight lanes that resulted in significantly lower freight costs beginning late in the second quarter.
- Brought back the limited-edition Crayola x Jones Soda collection featuring a new Fruit Punch flavor for the 2026 back to school season.
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1 Adjusted EBITDA is a Non-GAAP measure. Adjusted EBITDA is meant to reflect management's view of recurring business activities. It is reconciled to the GAAP measure "Net Income (Loss) from continuing operations" by removing interest expense, interest income, taxes, depreciation, amortization, stock-based compensation and one-time items. |
2 Adjusted EBITDA is a Non-GAAP measure. Adjusted EBITDA is meant to reflect management's view of recurring business activities. It is reconciled to the GAAP measure "Net Income (Loss) from continuing operations" by removing interest expense, interest income, taxes, depreciation, amortization, stock-based compensation and one-time items. |
Second Quarter 2026 Financial Results
Revenue increased
For the three months ended June 30, 2026, gross profit increased by
Total operating expenses were
Net loss for the second quarter of 2026 was
Adjusted EBITDA3 loss from continuing operations was
As of June 30, 2026, the Company had cash of
___________________________ |
3 Adjusted EBITDA is a Non-GAAP measure. Adjusted EBITDA is meant to reflect management's view of recurring business activities. It is reconciled to the GAAP measure "Net Income (Loss) from continuing operations" by removing interest expense, interest income, taxes, depreciation, amortization, stock-based compensation and one-time items. |
Second Quarter and 2026 Revenue Guidance
The following forward-looking statements reflect the Company's expectations as of August 13, 2026. They are subject to substantial uncertainty and may be materially affected by many factors, many of which are outside of the Company's control.
The Company is increasing its full-year fiscal 2026 net revenue growth expectation and now expects net revenue to increase approximately a minimum of
Conference Call
Jones Soda will hold a conference call at 8:30 a.m. Eastern time on August 13, 2026, to discuss its results for the second quarter ended June 30, 2026.
Chief Executive Officer Scott Harvey and Chief Financial Officer Brian Meadows will host the conference call, followed by a question-and-answer period. During the question-and-answer period, management will address common themes and questions submitted through the webcast portal. Participants who wish to ask a question should join the call via the webcast.
Date: Thursday, August 13, 2026
Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)
Webcast and Q&A: Link
Toll-free dial-in number: 1-877-407-0784
International dial-in number: 1-201-689-8560
Conference ID: 13762150
Please call the conference telephone number five minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting to the call, please contact Hayden IR at 1-646-755-7412.
A telephonic replay of the conference call will be available after 5:30 p.m. Eastern time on the same day through August 27, 2026.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13762150
Presentation of Non-GAAP Information
This press release contains disclosure of the Company's Adjusted EBITDA and Adjusted Gross Profit Margin which are not a United States Generally Accepted Accounting Principle ("GAAP") financial measures. The difference between Adjusted EBITDA (a non-GAAP measure) and Net Loss (the most comparable GAAP financial measure) It is reconciled to the GAAP measure "Net Income (Loss) from continuing operations" by removing interest expense, interest income, taxes, depreciation, amortization, stock-based compensation and one-time items. Adjusted Gross Profit margin is defined as GAAP Gross Profit plus one time inventory write-offs related to HD9 business and inventories written off related to a legal dispute with a Co-manufacturer divided by GAAP Revenue. We have included reconciliations of Adjusted EBITDA to Net Loss and Adjusted Gross Profit Margin to GAAP Gross Profit Margin under "Jones Soda Co. Non-GAAP Reconciliation" at the end of this press release. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP. Adjusted EBITDA and Adjusted Gross Profit Margin have certain limitations in that it does not take into account the impact of certain expenses to our consolidated statements of operations. In addition, because Adjusted EBITDA may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies. We believe that Adjusted EBITDA provides useful information to investors about the Company's results attributable to operations, in particular by eliminating the impact of non-cash charges related to stock-based compensation, amortization, depreciation and one-time non-recurring items that is consistent with the manner in which management evaluates the Company's performance. These adjustments to the Company's GAAP results are made with the intent of providing a more complete understanding of the Company's underlying operational results and provide supplemental information regarding the Company's current ability to generate cash flow. Adjusted EBITDA is not intended to be considered in isolation or as a replacement for, or superior to Net Loss as an indicator of the Company's operating performance, or cash flow, as a measure of its liquidity. Adjusted EBITDA should be reviewed in conjunction with Net Loss as calculated in accordance with GAAP. Adjusted Gross Profit Margin should be reviewed in conjunction with GAAP Gross Profit Margin.
About Jones Soda Co.
Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading craft soda manufacturer. The Company markets and distributes premium craft sodas under the Jones® Soda brand. Jones' mainstream soda line is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. The Company is headquartered in Seattle,
Forward-Looking Statements Disclosure
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all passages containing words such as "will," "aims," "anticipates," "becoming," "believes," "continue," "estimates," "expects," "future," "intends," "plans," "predicts," "projects," "targets," or "upcoming." Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Factors that could affect the Company's actual results, including its financial condition and results of operations, include, among others: its ability to successfully execute on its growth strategies and operating plans for the future; the Company's ability to continue to develop and market hemp-infused beverages and edibles, and to comply with the new federal and state laws and regulations governing hemp and related products, including but not limited to recent federal legislation that prohibits the unregulated sale of intoxicating hemp-based or hemp-derived products (including HD9 products); the Company's ability to manage operating expenses and generate sufficient cash flow from operations; the Company's ability to create and maintain brand name recognition and acceptance of its products; the Company's ability to adapt and execute its marketing strategies; the Company's ability to compete successfully against much larger, well-funded, established companies currently operating in the beverage industry generally and in the craft beverage segment specifically; the Company's ability to respond to changes in the consumer beverage marketplace, including potential reduced consumer demand due to health concerns (including obesity) and legislative initiatives against sweetened beverages (including the imposition of taxes); its ability to develop and launch new products and to maintain brand image and product quality; the Company's ability to maintain and expand distribution arrangements with distributors, independent accounts, retailers or national retail accounts; its ability to manage inventory levels and maintain relationships with manufacturers of its products; its ability to maintain a consistent and cost-effective supply of raw materials and flavors and to manage factors affecting its supply chain; its ability to attract, retain and motivate key personnel; its ability to protect its intellectual property; the impact of future litigation and the Company's ability to comply with applicable regulations; its ability to maintain an effective information technology infrastructure, fluctuations in freight and fuel costs; the impact of currency rate fluctuations; its ability to access the capital markets for any future equity financing; the Company's ability to maintain disclosure controls and procedures and internal control over financial reporting; dilutive and other adverse effects from future potential securities issuances; and any actual or perceived limitations by being traded on the OTCQB Marketplace. More information about factors that potentially could affect the Company's operations or financial results is included in its most recent annual report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") on March 31, 2026 and in the other reports filed with the SEC since that that date. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Except as required by law, the Company undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.
JONES SODA CO.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
June 30, 2026 (unaudited) | December 31, 2025 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash | $ | 2,351 | $ | 3,599 | ||||
Accounts receivable, net of allowance of | 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 | 183 | 321 | ||||||
Total assets | $ | 13,731 | $ | 15,230 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
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 | ||||
JONES SODA CO.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
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 and diluted | 118,780,917 | 116,180,383 | 118,698,360 | 116,023,676 | ||||||||||||
See accompanying notes to condensed consolidated financial statements.
Jones Soda Co.
Reconciliation of GAAP Net Income from Continuing Operations to Non-GAAP Adjusted EBITDA (unaudited)
(In thousands, except per share data)
For the three months ended | For the six months ended | ||||
June 30, | June 30, | June 30, | June 30, | ||
2026 | 2025 | 2026 | 2025 | ||
$ | $ | $ | $ | ||
Net income (loss) from continuing operations | (650) | 2,652 | (535) | 1,560 | |
Add: Interest expense | 126 | 70 | 366 | 148 | |
Add: Income tax expenses | 3 | 7 | 5 | 7 | |
(521) | 2,729 | (164) | 1,715 | ||
Add: Depreciation | 96 | 17 | 171 | 30 | |
Add: Amortization | - | - | - | - | |
(425) | 2,746 | 7 | 1,745 | ||
Add: Loss on disposal | - | - | - | - | |
Less: Gain on disposition of subsidiaries | - | (3,663) | - | (3,663) | |
Add: Stock-based compensation | 99 | 196 | 235 | 287 | |
Add: Impairment of receivable | 23 | - | 25 | (46) | |
Add: Impairment of note receivable | - | - | - | - | |
Add: Impairment of inventory | - | (13) | - | (38) | |
Less: Finance income | (9) | (5) | (19) | (6) | |
(312) | (739) | 248 | (1,721) | ||
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SOURCE Jones Soda Co.