Every 10-K that Jones Soda Co (JSDA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow JSDA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full JSDA filings page.
Jones Soda Co. filed Amendment No. 2 to its 2025 annual report, adding a missing 2024 audit opinion and correcting an auditor PCAOB ID, while reaffirming full 2025 financials. The 2025 audit includes a going concern warning due to recurring losses and a net capital deficiency.
Net revenue rose to $25.3 million from $17.8 million, and the net loss narrowed to $1.8 million from $9.9 million, helped by a $3.9 million gain on the sale of its cannabis subsidiaries. Year-end cash increased to $3.6 million, but working capital turned slightly negative and total debt rose with a higher-cost credit facility.
The company sold its THC beverage business for a $3.0 million promissory note and a licensing deal initially valued at $1.7 million, then later sold the note for $1.4 million cash, recording a loss on that sale. It also secured a loan facility up to $10 million at 13.75% interest, with about $3.0 million outstanding at year-end. Management plans to cut costs and focus on higher-margin products and believes existing resources and this facility can fund operations for at least 12 months, though substantial doubt about long-term viability remains.
Jones Soda Co. filed an amendment to its annual report to replace Part III after choosing not to file a 2026 proxy statement. The filing updates disclosures on directors, executive officers, board committees, compensation programs, equity incentives, beneficial ownership and related-party policies, without changing previously reported financial statements.
It details new leadership appointments in 2025, option and RSU grants under the 2022 Omnibus Equity Incentive Plan, director independence determinations, insider trading and clawback policies, and auditor fee information for 2024 and 2025.
Jones Soda Co. reports its annual business overview and risk factors for the year ended December 31, 2025, highlighting ongoing losses and funding needs. The company incurred a net loss of $1.8 million, lifting its accumulated deficit to $94.7 million. Management stresses the need to meet sales goals and may require additional, potentially dilutive financing to support operations.
Jones is expanding beyond craft soda into modern soda and alternative adult beverages, including hemp-derived HD9 and alcohol-based products, but new federal legislation is expected to force significant reformulation or discontinuation of current HD9 lines. In 2025, about 39% of net revenue came from licensed properties such as the Fallout collaboration, and one customer represented roughly 31% of revenue, underscoring customer and brand concentration risk.