Zevia reports Q3 EPS (16c), consensus (16c)

Reports Q3 revenue $43.09M, consensus $39.57M. Adjusted EBITDA loss was $9.1 M…”The Zevia brand remains healthy with strong demand reflected in continued double-digit velocity growth,” said Amy Taylor, President and Chief Executive Officer. “As expected, net sales were down slightly and operating expenses increased due to customer fulfillment interruptions that occurred during our supply chain transformation, and we are executing our plan to resolve these by year-end. We are seeing progress in improved on-time and in-full deliveries, which will be evident in on-shelf distribution recovery and return to growth in Q4. Our sustained improvement in gross margin is indicative of the health of the business, and promising innovation performance plus distribution expansion initiatives support our expectations to return to double-digit growth for the future.”