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Jones Soda Co. reports developments across its craft soda business, including financial results, product launches, retail distribution and branded partnerships. The company’s updates have featured core soda sales, direct-to-consumer activity, food service, modern soda products and multi-pack programs in Walmart and warehouse club channels in the United States and Canada.
Company announcements also cover licensed beverage programs such as Fallout-inspired Sunset Sarsaparilla, packaging partnerships tied to consumer campaigns, conference calls, operating guidance and management commentary on margins, cost discipline and channel expansion.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) reported a 35% revenue increase to $6.0 million for Q2 2022, marking its eighth consecutive quarter of year-over-year growth. Despite the growth, gross profit margin fell to 28.0% from 31.3% due to inflation and product mix impacts. The company posted a net loss of $1.4 million, compared to a net income of $0.3 million last year. The rise in losses primarily resulted from $1.2 million in cannabis product development costs. However, positive feedback from the Mary Jones cannabis product launch and strong consumer demand were highlighted as future growth drivers.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) is set to hold a conference call on August 4, 2022, at 4:30 PM ET to discuss its second-quarter financial results ending June 30, 2022. Investors are encouraged to submit questions via email by August 3, 2022, at 5:00 PM ET. The call will include a live broadcast and subsequent replay available until August 18, 2022. Jones Soda, known for its unique flavors and cannabis product line, markets its beverages across North America. For further details, visit their official website.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) has collaborated with Sub Pop Records to promote 15 artists through an innovative AR experience. This partnership blends music and craft soda, allowing fans to access exclusive artist clips by scanning the new animated soda labels using the Jones app. The labels feature popular flavors like Berry Lemonade and Root Beer, available at major retailers across North America. This initiative aims to revitalize the indie music scene post-pandemic while enhancing Jones' brand presence and engagement with consumers.
Jones Soda Co. has launched a line of cannabis-infused sodas under the brand Mary Jones in California, featuring popular flavors like Root Beer, Berry Lemonade, Green Apple, and Orange & Cream. Each 12 oz glass bottle contains 10mg of THC. The company emphasizes its longstanding tradition of consumer engagement through unique labeling and community involvement. Upcoming products include a 100mg cannabis soda and 5mg gummies. With partnerships for distribution and manufacturing, Mary Jones aims to expand its footprint in the cannabis beverage market.
Jones Soda Co. (OTCQB: JSDA, CSE: JSDA) has partnered with Kiva Sales and Service to launch its first cannabis-infused beverage, Mary Jones, in California. This exclusive collaboration aims to leverage Kiva’s distribution expertise to deliver Mary Jones, which includes 10mg THC sodas available in flavors like Root Beer and Berry Lemonade, to top dispensaries. The partnership positions Mary Jones as a unique offering in the cannabis market, appealing to both new and experienced consumers. The launch reflects Jones Soda's strategy to innovate and expand its product line in the evolving cannabis sector.
Simply Better Brands and Jones Soda Co. have mutually agreed to terminate their letter of intent due to challenging market conditions. Both companies expressed disappointment but remain optimistic about future opportunities. Kathy Casey, CEO of Simply Better Brands, noted the potential value Jones Soda could add, while Mark Murray, CEO of Jones, emphasized the ongoing potential for both brands despite this setback.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) announced distribution agreements that expand its retail presence beyond traditional grocery stores, marking a strategic move that contributes to seven consecutive quarters of growth for its core bottled soda business. New partnerships include placements at TJ Maxx/Marshalls/HomeGoods, Dollar Tree, World Market, and others. These agreements leverage Jones Soda's unique brand and innovative flavors, allowing the company to enhance brand awareness and product accessibility across various retail channels.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) announced its financial results for Q1 2022, reporting a 58% increase in revenue to $4.5 million compared to $2.9 million in the previous year. The gross profit margin rose to 27.3%, up from 26.9%. Despite these gains, the company recorded a net loss of $1.7 million and an adjusted EBITDA of $(1.1 million), impacted by cannabis-related expenses. Additionally, delays in launching its Mary Jones cannabis line were noted, which has been postponed to Q2.
Management expressed confidence in their growth strategies and partnerships including a binding LOI with Simply Better Brands, aiming to diversify revenue.
Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) announced a conference call on May 11, 2022, at 4:30 p.m. Eastern time to discuss its financial results for Q1 ended March 31, 2022. Investors are encouraged to submit questions via email by May 10, 2022, at 5:00 p.m. Eastern time. The call will be available for live broadcast and recorded replay thereafter until May 18, 2022. Jones Soda specializes in craft sodas and cannabis products, distributing under the Jones and Mary Jones brands.
Simply Better Brands Corp. and Jones Soda Co. have announced a binding letter of intent for a business combination aimed at accelerating growth in the plant-based wellness, food and beverage, and health and beauty markets. The transaction is expected to generate annual sales exceeding USD $60 million with a combined gross margin of approximately 48%. Simply Better Brands will acquire all Jones common shares at a deemed value of USD $0.75 per share, resulting in a transaction value of approximately USD $98.9 million. Completion is subject to various approvals and conditions.