Welcome to our dedicated page for Splash Beverage Group news (Ticker: SBEV), a resource for investors and traders seeking the latest updates and insights on Splash Beverage Group stock.
Splash Beverage Group, Inc. reports developments for a portfolio of alcoholic and non-alcoholic beverage brands. Its recurring updates cover brand distribution for Pulpoloco sangria, SALT flavored tequilas, Copa di Vino wine by the glass, and hydration or recovery drinks, including retail authorizations and state-level alcohol-market access.
Company news also includes operating and financial results calls, capital-structure updates, private-placement activity, material agreements, shareholder voting matters, and governance changes. These items reflect Splash Beverage Group's model of managing and expanding consumer beverage brands through retail channels, distribution relationships, and public-company financing activity.
Splash Beverage Group (SBEV) reported strong financial results for Q4 and the full year ended December 31, 2022. Q4 revenues rose 56% to $4.79 million, while full-year revenues increased 61% to $19.0 million, driven by growth in its ecommerce platform Qplash and the Copa Di Vino brand.
Gross margins improved significantly, reaching $3.3 million in Q4 and $5.9 million for the full year. The net loss narrowed to $4.8 million in Q4 and $21.7 million for the year, compared to $6.2 million and $29.0 million, respectively, in 2021. Cash reserves increased slightly to $4.4 million. The CEO emphasized ongoing investments in marketing and distribution as key to future growth.
Splash Beverage Group, Inc. (SBEV) recently announced that its Pulpoloco Sangria has been awarded the prestigious 7-Eleven, Inc. Brands with Heart™ designation, enabling it to be showcased in select 7-Eleven and Speedway stores across the U.S. This recognition highlights the brand's growing visibility in the competitive beverage market. Pulpoloco Sangria, crafted in Madrid, is presented in an innovative eco-friendly packaging called CartoCan, emphasizing sustainability. CEO Robert Nistico expressed enthusiasm about this opportunity, indicating confidence in the product's quality and the company's distribution capabilities as pivotal factors for success in major retail outlets.
On March 2, 2023, Splash Beverage Group (SBEV) announced a new distribution agreement with Carolina Premium Beverage to deliver its brands, Copa di Vino, Pulpoloco, and TapouT, across North Carolina. Carolina Premium Beverage has over 80 years of experience and delivers more than 6.8 million cases annually, placing it among the top beer wholesalers in the U.S. CEO Robert Nistico expressed enthusiasm for the partnership, signaling an expansion into key markets like Charlotte. This agreement, along with a recent Publix authorization for TapouT, enhances Splash’s distribution strategy in the Southeastern U.S., aiming to boost retail presence and revenue.
Splash Beverage Group (SBEV) announced new distributor agreements to enhance the presence of SALT Tequila across most counties in New York, excluding New York City. The distributors, Try-It Distributing, A. L. George Distributing, and Saratoga Eagle Sales & Service, are part of the Anheuser Busch network, providing a strong distribution network. Chairman Robert Nistico emphasized the growth potential of tequila in the spirits market, which could favorably impact SALT Tequila's expansion. The company aims to capitalize on the growing demand in the spirits sector.
Splash Beverage Group (SBEV) announced the upcoming launch of TapouT Energy, an energy drink aimed at enhancing cognitive performance and focus, set for late March 2023. Developed by elite nutritionist Sanjeev Javia and NFL star Drew Brees, the drink will be available in three flavors: Cherry Lemonade, Orange, and Peach Mango, all zero sugar and derived from natural ingredients. CEO Robert Nistico highlighted that the U.S. energy drink market is nearing $12 billion and is expected to grow to $28.25 billion by 2027. The launch capitalizes on a booming sector, with innovative brands seeing an 18% increase in sales.
Splash Beverage Group (NYSE American: SBEV) shared a shareholder update highlighting recent growth and distribution agreements. The company has added over a dozen new distributors and several national retail authorizations, including Circle K, Publix, and Target. Gross sales grew by 73% quarter-over-quarter and 64% over nine months. The company has also secured financing through the sale of convertible notes and warrants. New hires, including a veteran sales leader, aim to capitalize on growth opportunities, bolstered by celebrity endorsements such as NFL star Drew Brees.
Splash Beverage Group (NYSE: SBEV) is set to present virtually at the Emerging Growth Conference on December 14 at 10:50 AM ET. CEO Robert Nistico will lead the presentation, expected to last around 30 minutes, providing updates and engaging with shareholders and the investment community. The event promotes real-time interaction and will be accessible for those who register. Splash Beverage is known for its innovative beverage portfolio, including brands like Copa di Vino and SALT tequila, aimed at accelerating growth in the beverage sector.
Splash Beverage Group (SBEV) has secured authorization from Publix to sell all four TapouT SKUs across 1,018 stores in Tennessee, Florida, Alabama, Georgia, and North Carolina. Publix is a major employee-owned supermarket chain with over 1,300 locations. CEO Robert Nistico highlighted this authorization as a significant milestone for the TapouT brand, stating it will enhance consumer accessibility and open new distribution opportunities as some distributors in these areas currently do not carry the product.
Splash Beverage Group (SBEV) has secured agreements with nine new beverage distributors across the southeastern U.S., enhancing the distribution of its TapouT hydration drink from Florida to Virginia. This expansion is expected to increase retail orders as TapouT gains traction. The distributors include Allstate Beverage, Southern Eagle, and Ajax Turner Company, among others. CEO Robert Nistico emphasized the critical role of distribution in driving retail growth. The company is optimistic about meeting rising demand as it prepares for 2023.
Splash Beverage Group (NYSE American: SBEV) has appointed James Michael Allred as Senior Vice President of Sales. Allred, with over 20 years of experience at Anheuser-Busch InBev, will enhance sales initiatives and expand the company's retail-chain customer base under President Bill Meissner. CEO Robert Nistico emphasized the importance of executing distribution opportunities across the U.S. as the company grows. Splash Beverage Group owns several beverage brands and aims to rapidly develop its portfolio and global distribution.