Zevia PBC develops and sells zero-sugar, zero-calorie, naturally sweetened beverages under the Zevia brand. The Delaware public benefit corporation and Certified B Corporation offers clean-label beverage categories that include soda, energy drinks, organic tea, mixers, Kidz drinks and sparkling water, with distribution in the United States and Canada through grocery, drug, warehouse club, mass, natural, convenience and e-commerce channels.
Zevia news commonly covers quarterly and annual results, volume trends by retail channel, gross margin and adjusted EBITDA disclosures, product innovation, packaging and marketing initiatives, distribution expansion, brand partnerships, investor-conference participation and board governance changes.
Zevia PBC (NYSE: ZVIA) announced it received a notice from the NYSE on June 26, 2024, indicating non-compliance with Section 802.01C due to its stock price averaging below $1.00 over 30 trading days. This notice doesn't result in immediate delisting. Zevia plans to reaffirm its intent to cure the deficiency within 10 business days and is considering options to regain compliance during a six-month cure period. Compliance can be regained if the closing share price reaches at least $1.00 at the end of any calendar month within this period. The notice doesn't impact Zevia's current listing, trading status, business operations, or SEC reporting requirements.
Zevia announced its first quarter 2024 results, highlighting a 10.4% decrease in net sales and unit volume, a gross profit margin of 45.7%, and a net loss of $7.2 million. The company reported a focused productivity initiative targeting cost benefits of $8-$12 million annually, amidst challenges faced in 2023. Zevia aims to re-energize growth in the latter part of the year by launching regional direct-store-delivery partnerships and driving towards profitability.
Zevia, a leading producer of zero sugar beverages, will be participating in two upcoming investor conferences, the Goldman Sachs Global Staples Forum, and the BMO Global Farm to Market Conference. President Amy Taylor and CFO Girish Satya will present at these events, providing insights into the company's growth strategies and financial performance.
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