Vita Coco Company, Inc. ( (COCO) ) has released its Q1 earnings. Here is a breakdown of the information Vita Coco Company, Inc. presented to its investors.
The Vita Coco Company, Inc., a public benefit corporation and Certified B Corporation, is a leading provider of better-for-you beverage brands, primarily known for its flagship product, Vita Coco Coconut Water, which is the leading coconut water brand in the U.S. The company also offers sustainably packaged water and protein-infused water.
In its first quarter of 2025, Vita Coco reported a robust financial performance with a 17% increase in net sales, reaching $131 million, driven by a significant 25% growth in Vita Coco Coconut Water sales. The company also saw a notable rise in net income, which increased by $5 million to $19 million, and a slight improvement in Non-GAAP Adjusted EBITDA, which rose to $23 million.
Key financial highlights include a gross profit increase to $48 million, despite a decrease in gross margin from 42% to 37% due to higher freight and product costs. The company’s net income per diluted share rose to $0.31 from $0.24, and it maintained a strong balance sheet with $154 million in cash and no debt. Additionally, Vita Coco continued its share repurchase program, increasing its authorized limit to $65 million.
Looking ahead, Vita Coco reaffirms its full-year 2025 outlook, expecting net sales between $555 million and $570 million, with continued growth in Vita Coco Coconut Water and the rollout of Vita Coco Treats. The company anticipates a gross margin between 35% and 37%, with SG&A expenses increasing slightly. Vita Coco remains optimistic about its growth trajectory, supported by strong market demand and strategic investments.
Overall, Vita Coco’s strong start to 2025 and its strategic initiatives position the company well for continued growth, as it capitalizes on the increasing popularity of coconut water and expands its product offerings.