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Zevia PBC (ZVIA) Financials

Zevia PBC logo
$1.73 +0.01 (+0.47%)
Closing price 07/13/2026 03:59 PM Eastern
Extended Trading
$1.69 -0.04 (-2.43%)
As of 07/13/2026 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Zevia PBC

Annual Income Statements for Zevia PBC

This table shows Zevia PBC's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.00 -46 -34 -21 -20 -9.92
Consolidated Net Income / (Loss)		 -6.07 -88 -48 -28 -24 -11
Net Income / (Loss) Continuing Operations		 -6.07 -88 -48 -28 -24 -11
Total Pre-Tax Income 		-5.48 -88 -48 -28 -24 -11
Total Operating Income		 -5.48 -87 -48 -29 -24 -12
Total Gross Profit		 50 64 70 75 72 77
Total Revenue		 110 138 163 166 155 161
Operating Revenue		 110 138 163 166 155 161
Total Cost of Revenue		 61 74 93 92 83 84
Operating Cost of Revenue		 61 74 93 92 83 84
Total Operating Expenses		 55 151 118 104 96 89
Selling, General & Admin Expense		 19 28 37 31 30 30
Marketing Expense		 27 45 53 62 57 52
Depreciation Expense		 0.93 1.00 1.35 1.62 1.33 0.87
Other Operating Expenses / (Income)		 - - - - 4.96 3.76
Restructuring Charge		 - - - 0.00 2.14 2.17
Total Other Income / (Expense), net		 0.00 0.00 0.29 0.67 -0.06 0.68
Other Income / (Expense), net		 - - 0.29 0.67 -0.06 0.68
Income Tax Expense		 0.00 0.03 0.07 0.05 0.07 0.05
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -40 -14 -6.83 -3.78 -1.25
Basic Earnings per Share		 $0.00 ($1.33) ($0.81) ($0.41) ($0.34) ($0.15)
Weighted Average Basic Shares Outstanding		 0.00 34.45M 43.47M 50.62M 58.68M 66.02M
Diluted Earnings per Share		 $0.00 ($1.33) ($0.81) ($0.41) ($0.34) ($0.15)
Weighted Average Diluted Shares Outstanding		 0.00 34.45M 43.47M 50.62M 58.68M 66.02M
Weighted Average Basic & Diluted Shares Outstanding		 - 66.69M 70.36M 71.85M 73.51M 75.10M

Quarterly Income Statements for Zevia PBC

This table shows Zevia PBC's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -8.22 -7.26 -5.82 -5.89 -2.53 -5.76 -5.23 -0.70 -2.69 -1.31 -2.27
Consolidated Net Income / (Loss)		 -11 -9.15 -7.20 -6.96 -2.84 -6.78 -6.37 -0.65 -2.85 -1.30 -2.36
Net Income / (Loss) Continuing Operations		 -11 -9.15 -7.20 -6.96 -2.84 -6.78 -6.37 -0.65 -2.85 -1.30 -2.36
Total Pre-Tax Income 		-11 -9.13 -7.19 -6.93 -2.85 -6.76 -6.33 -0.63 -2.88 -1.27 -2.33
Total Operating Income		 -11 -8.90 -7.28 -7.07 -2.96 -6.34 -6.39 -1.02 -2.87 -1.51 -2.37
Total Gross Profit		 20 15 18 17 18 19 19 22 19 18 22
Total Revenue		 43 38 39 40 36 39 38 45 41 38 46
Operating Revenue		 43 38 39 40 36 39 38 45 41 38 46
Total Cost of Revenue		 24 22 21 23 19 20 19 23 22 20 24
Operating Cost of Revenue		 24 22 21 23 19 20 19 23 22 20 24
Total Operating Expenses		 31 24 25 24 21 26 25 23 21 20 25
Selling, General & Admin Expense		 8.25 8.39 8.12 7.69 7.38 6.84 6.98 8.08 7.67 7.29 9.07
Marketing Expense		 20 14 15 14 12 16 15 13 13 11 15
Depreciation Expense		 0.41 0.38 0.33 0.40 0.31 0.29 0.25 0.24 0.20 0.18 0.17
Other Operating Expenses / (Income)		 - - - - 1.03 - 0.73 - 0.95 - 0.89
Restructuring Charge		 0.00 - 0.00 0.87 0.11 - 2.14 0.03 0.00 - 0.00
Total Other Income / (Expense), net		 0.17 -0.24 0.10 0.14 0.12 -0.42 0.06 0.38 -0.01 0.25 0.05
Other Income / (Expense), net		 0.17 -0.24 0.10 0.14 0.12 -0.42 0.06 0.38 -0.01 0.25 0.05
Income Tax Expense		 -0.01 0.02 0.01 0.03 -0.00 0.02 0.04 0.02 -0.03 0.03 0.04
Net Income / (Loss) Attributable to Noncontrolling Interest		 -3.03 -1.90 -1.38 -1.07 -0.32 -1.02 -1.15 0.05 -0.16 0.02 -0.10
Basic Earnings per Share		 ($0.16) ($0.14) ($0.10) ($0.10) ($0.04) ($0.10) ($0.08) ($0.01) ($0.04) ($0.02) ($0.03)
Weighted Average Basic Shares Outstanding		 50.75M 50.62M 55.89M 58.65M 59.49M 58.68M 62.95M 66.33M 67.33M 66.02M 68.21M
Diluted Earnings per Share		 ($0.16) ($0.13) ($0.10) ($0.10) ($0.04) ($0.10) ($0.08) ($0.01) ($0.04) ($0.02) ($0.03)
Weighted Average Diluted Shares Outstanding		 50.75M 50.62M 55.89M 58.65M 59.49M 58.68M 76.50M 66.33M 67.33M 66.02M 68.21M
Weighted Average Basic & Diluted Shares Outstanding		 71.34M 71.85M 72.30M 72.71M 73.01M 73.51M 74.22M 74.95M 75.00M 75.10M 76.98M

Annual Cash Flow Statements for Zevia PBC

This table details how cash moves in and out of Zevia PBC's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 12 28 4.29 -15 -1.30 -5.30
Net Cash From Operating Activities		 -3.26 -18 -21 -16 -1.02 -4.70
Net Cash From Continuing Operating Activities		 -3.26 -18 -21 -16 -1.02 -4.70
Net Income / (Loss) Continuing Operations		 -6.07 -88 -48 -28 -24 -11
Consolidated Net Income / (Loss)		 -6.07 -88 -48 -28 -24 -11
Depreciation Expense		 0.93 1.00 1.35 1.62 1.33 0.87
Amortization Expense		 0.05 0.09 0.06 0.08 0.08 0.08
Non-Cash Adjustments To Reconcile Net Income		 8.38 78 28 9.33 5.32 4.32
Changes in Operating Assets and Liabilities, net		 -6.55 -9.51 -2.08 1.03 16 1.20
Net Cash From Investing Activities		 -0.81 -33 27 0.81 -0.28 -0.31
Net Cash From Continuing Investing Activities		 -0.81 -33 30 2.43 -0.28 -0.31
Purchase of Property, Plant & Equipment		 -0.81 -3.14 - - -0.28 -0.31
Net Cash From Financing Activities		 16 79 -2.34 0.03 0.00 -0.29
Net Cash From Continuing Financing Activities		 16 79 -2.34 0.03 0.00 -0.29
Repayment of Debt		 -115 -75 -0.33 0.00 -8.00 -0.35
Issuance of Debt		 114 75 0.00 0.00 8.00 0.00
Other Financing Activities, net		 0.34 0.01 -2.01 0.03 0.00 0.06
Cash Interest Paid		 0.32 0.15 0.06 0.08 0.09 0.06
Cash Income Taxes Paid		 - 0.00 0.07 0.13 0.09 0.05

Quarterly Cash Flow Statements for Zevia PBC

This table details how cash moves in and out of Zevia PBC's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -8.49 -6.59 -3.24 0.22 3.75 -2.04 -2.94 -1.42 -0.27 -0.68 1.24
Net Cash From Operating Activities		 -11 -6.61 -3.20 0.28 3.89 -1.99 -2.93 -1.39 0.12 -0.51 1.64
Net Cash From Continuing Operating Activities		 -11 -6.61 -3.20 0.28 3.89 -1.99 -2.93 -1.39 0.12 -0.51 1.64
Net Income / (Loss) Continuing Operations		 -11 -9.15 -7.20 -6.96 -2.84 -6.78 -6.37 -0.65 -2.85 -1.30 -2.36
Consolidated Net Income / (Loss)		 -11 -9.15 -7.20 -6.96 -2.84 -6.78 -6.37 -0.65 -2.85 -1.30 -2.36
Depreciation Expense		 0.41 0.38 0.33 0.40 0.31 0.29 0.25 0.24 0.20 0.18 0.17
Amortization Expense		 0.02 0.02 0.02 0.02 0.47 0.02 0.02 0.02 0.02 0.02 0.02
Non-Cash Adjustments To Reconcile Net Income		 2.12 2.19 1.62 1.58 0.80 1.50 0.87 1.12 1.09 1.24 1.03
Changes in Operating Assets and Liabilities, net		 -2.04 -0.04 2.03 5.24 5.15 2.98 2.30 -2.11 1.66 -0.65 2.79
Net Cash From Investing Activities		 2.25 0.02 -0.03 -0.06 -0.15 -0.05 -0.01 -0.03 -0.18 -0.08 -0.27
Net Cash From Continuing Investing Activities		 2.27 0.09 0.00 - -0.24 - -0.01 - -0.23 -0.08 -0.27
Purchase of Property, Plant & Equipment		 - - - - - - -0.01 - - -0.08 -0.27
Net Cash From Financing Activities		 0.00 - 0.00 - - - 0.00 0.01 -0.21 -0.09 -0.13
Net Cash From Continuing Financing Activities		 0.00 - 0.00 - - - 0.00 0.01 -0.21 -0.09 -0.13
Repayment of Debt		 - - -8.00 - - - 0.00 -0.05 -0.21 -0.09 -0.13
Other Financing Activities, net		 0.00 - 0.00 - - - 0.00 0.06 - - 0.00
Cash Interest Paid		 0.02 0.02 0.03 0.02 0.03 0.02 0.01 0.01 0.02 0.01 0.01
Cash Income Taxes Paid		 0.02 0.03 0.02 0.06 0.01 -0.01 0.00 0.02 0.00 0.02 0.04

Annual Balance Sheets for Zevia PBC

This table presents Zevia PBC's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 50 125 99 91 68 64
Total Current Assets		 44 117 89 83 62 58
Cash & Equivalents		 15 43 47 32 31 25
Accounts Receivable		 6.94 9.05 11 11 11 11
Inventories, net		 21 32 28 35 19 20
Prepaid Expenses		 1.49 3.42 2.61 5.06 1.84 1.37
Plant, Property, & Equipment, net		 0.99 3.17 4.64 2.11 1.26 0.87
Total Noncurrent Assets		 4.79 4.75 5.63 6.06 4.78 4.53
Intangible Assets		 3.94 4.23 4.39 3.52 3.18 3.14
Other Noncurrent Operating Assets		 0.85 0.51 1.25 2.54 1.60 1.40
Total Liabilities & Shareholders' Equity		 50 125 99 91 68 64
Total Liabilities		 14 20 17 29 25 28
Total Current Liabilities		 14 20 17 28 24 28
Accounts Payable		 8.97 13 8.02 21 15 18
Accrued Expenses		 4.48 6.71 8.41 5.97 8.34 9.79
Other Current Liabilities		 0.62 0.24 0.72 0.58 0.59 0.67
Total Noncurrent Liabilities		 0.24 0.00 0.00 1.37 0.78 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -197 105 82 62 43 36
Total Preferred & Common Equity		 -197 128 110 90 65 51
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -197 128 110 90 65 51
Common Stock		 -197 174 190 191 186 182
Retained Earnings		 0.00 -46 -80 -101 -121 -131
Noncontrolling Interest		 0.00 -24 -28 -28 -22 -15

Quarterly Balance Sheets for Zevia PBC

This table presents Zevia PBC's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 116 85 73 73 62 62 60 58
Total Current Assets		 107 77 65 66 56 57 55 53
Cash & Equivalents		 39 29 29 33 28 26 26 27
Accounts Receivable		 16 14 11 10 8.80 13 13 9.07
Inventories, net		 49 31 22 21 17 16 14 15
Prepaid Expenses		 2.91 3.97 2.95 2.68 2.72 1.75 1.74 1.77
Plant, Property, & Equipment, net		 2.47 1.90 1.71 1.49 1.08 1.00 0.87 0.89
Total Noncurrent Assets		 6.66 5.81 5.57 5.31 4.56 4.53 4.63 4.36
Intangible Assets		 3.93 3.44 3.36 3.28 3.11 3.05 3.15 3.12
Other Noncurrent Operating Assets		 2.73 2.37 2.20 2.03 1.45 1.48 1.48 1.24
Total Liabilities & Shareholders' Equity		 116 85 73 73 62 62 60 58
Total Liabilities		 47 29 22 24 25 25 24 24
Total Current Liabilities		 46 28 21 23 24 24 24 24
Accounts Payable		 38 19 12 15 14 14 14 14
Accrued Expenses		 7.17 8.15 8.46 7.70 9.49 9.23 9.46 9.06
Other Current Liabilities		 0.58 0.59 0.61 0.63 0.67 0.69 0.64 0.49
Total Noncurrent Liabilities		 1.52 1.22 1.06 0.95 0.64 0.46 0.25 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 69 56 51 49 37 38 36 34
Total Preferred & Common Equity		 101 80 75 73 54 53 51 45
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 101 80 75 73 54 53 51 45
Common Stock		 195 187 188 188 180 180 181 178
Retained Earnings		 -94 -107 -113 -116 -127 -127 -130 -134
Noncontrolling Interest		 -32 -24 -24 -24 -16 -15 -15 -11

Annual Metrics And Ratios for Zevia PBC

This table displays calculated financial ratios and metrics derived from Zevia PBC's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 25.58% 18.10% 1.99% -6.84% 4.01%
EBITDA Growth		 0.00% -1,821.12% 46.52% 42.43% 16.05% 54.43%
EBIT Growth		 0.00% -1,495.95% 45.57% 40.59% 16.11% 53.15%
NOPAT Growth		 0.00% -1,495.95% 45.25% 39.54% 18.27% 50.16%
Net Income Growth		 0.00% -1,344.03% 45.65% 40.56% 16.03% 53.05%
EPS Growth		 0.00% 0.00% 39.10% 49.38% 17.07% 55.88%
Operating Cash Flow Growth		 0.00% -446.53% -16.69% 21.68% 93.74% -361.53%
Free Cash Flow Firm Growth		 0.00% 0.00% 49.34% 56.96% 106.13% -745.19%
Invested Capital Growth		 0.00% 51.86% 9.34% -13.30% -58.77% -16.64%
Revenue Q/Q Growth		 0.00% 0.00% 0.74% 1.48% 1.08% -0.98%
EBITDA Q/Q Growth		 0.00% 0.00% 40.54% -12.55% 9.27% 36.44%
EBIT Q/Q Growth		 0.00% 0.00% 39.76% -11.89% 9.09% 33.07%
NOPAT Q/Q Growth		 0.00% 0.00% 39.39% -9.65% 9.76% 29.04%
Net Income Q/Q Growth		 0.00% 0.00% 39.60% -11.76% 9.06% 32.94%
EPS Q/Q Growth		 0.00% 0.00% 37.21% -7.89% 8.11% 34.78%
Operating Cash Flow Q/Q Growth		 0.00% -25.12% 13.63% -46.61% 81.92% 23.97%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -15.55% 126.26% -15.59%
Invested Capital Q/Q Growth		 0.00% 0.00% -3.45% -2.93% -23.30% 4.90%
Profitability Metrics		 - - - - - -
Gross Margin		 44.99% 46.28% 42.91% 44.92% 46.39% 48.01%
EBITDA Margin		 -4.08% -62.48% -28.29% -15.97% -14.39% -6.31%
Operating Margin		 -4.98% -63.27% -29.33% -17.39% -15.26% -7.31%
EBIT Margin		 -4.98% -63.27% -29.16% -16.99% -15.30% -6.89%
Profit (Net Income) Margin		 -5.52% -63.45% -29.20% -17.02% -15.34% -6.92%
Tax Burden Percent		 110.83% 100.04% 100.14% 100.18% 100.28% 100.49%
Interest Burden Percent		 100.00% 100.24% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -18.52% -234.66% -101.79% -63.12% -78.65% -73.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.54% -174.54% -78.33% -42.80% -55.57% -62.83%
Return on Net Nonoperating Assets (RNNOA)		 1.48% 109.61% 50.65% 23.66% 33.23% 44.80%
Return on Equity (ROE)		 -17.03% -125.06% -51.14% -39.46% -45.43% -28.43%
Cash Return on Invested Capital (CROIC)		 0.00% -275.85% -110.72% -48.86% 4.57% -55.09%
Operating Return on Assets (OROA)		 -10.97% -99.94% -42.50% -29.79% -29.87% -16.89%
Return on Assets (ROA)		 -12.15% -100.22% -42.56% -29.85% -29.95% -16.97%
Return on Common Equity (ROCE)		 94.04% 60.95% -65.43% -54.93% -67.14% -41.96%
Return on Equity Simple (ROE_SIMPLE)		 3.08% -68.23% -43.33% -31.51% -36.66% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.83 -61 -34 -20 -17 -8.25
NOPAT Margin		 -3.49% -44.29% -20.53% -12.17% -10.68% -5.12%
Net Nonoperating Expense Percent (NNEP)		 -14.97% -60.12% -23.47% -20.32% -23.08% -10.40%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -32.80% -38.56% -23.18%
Cost of Revenue to Revenue		 55.01% 53.72% 57.09% 55.08% 53.61% 51.99%
SG&A Expenses to Revenue		 17.13% 19.91% 22.55% 18.92% 19.36% 18.62%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 49.97% 109.55% 72.24% 62.31% 61.65% 55.32%
Earnings before Interest and Taxes (EBIT)		 -5.48 -87 -48 -28 -24 -11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.49 -86 -46 -27 -22 -10
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 3.54 2.56 1.60 4.72 3.41
Price to Tangible Book Value (P/TBV)		 0.00 3.66 2.67 1.66 4.96 3.63
Price to Revenue (P/Rev)		 1.82 3.29 1.73 0.86 1.97 1.08
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 20.17 11.39 5.99 2.80 20.61 13.00
Enterprise Value to Revenue (EV/Rev)		 3.80 2.59 1.26 0.50 1.63 0.83
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 263.29 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.42 -0.63 -0.65 -0.55 -0.60 -0.71
Leverage Ratio		 1.40 1.25 1.20 1.32 1.52 1.68
Compound Leverage Factor		 1.40 1.25 1.20 1.32 1.52 1.68
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 652.14% -22.88% -34.44% -45.51% -51.07% -43.36%
Common Equity to Total Capital		 -552.14% 122.88% 134.44% 145.51% 151.07% 143.36%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 10.96 12.58 9.66 2.93 6.64 3.37
Noncontrolling Interest Sharing Ratio		 652.14% 148.74% -27.95% -39.20% -47.79% -47.58%
Liquidity Ratios		 - - - - - -
Current Ratio		 3.14 5.73 5.17 2.98 2.56 2.08
Quick Ratio		 1.55 4.02 3.41 1.55 1.71 1.30
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -72 -36 -16 0.96 -6.21
Operating Cash Flow to CapEx		 -404.72% -566.53% 0.00% 0.00% 0.00% -1,531.92%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 2.20 1.58 1.46 1.75 1.95 2.45
Accounts Receivable Turnover		 15.84 17.28 16.22 15.00 14.15 14.73
Inventory Turnover		 2.91 2.84 3.15 2.95 3.13 4.30
Fixed Asset Turnover		 111.02 66.43 41.79 49.31 92.02 151.56
Accounts Payable Turnover		 6.75 6.61 8.66 6.28 4.56 5.10
Days Sales Outstanding (DSO)		 23.04 21.12 22.51 24.34 25.79 24.79
Days Inventory Outstanding (DIO)		 125.44 128.58 115.73 123.69 116.74 84.92
Days Payable Outstanding (DPO)		 54.10 55.23 42.15 58.12 80.06 71.53
Cash Conversion Cycle (CCC)		 94.37 94.48 96.09 89.91 62.47 38.18
Capital & Investment Metrics		 - - - - - -
Invested Capital		 21 31 34 30 12 10
Invested Capital Turnover		 5.31 5.30 4.96 5.18 7.37 14.31
Increase / (Decrease) in Invested Capital		 0.00 11 2.94 -4.58 -18 -2.05
Enterprise Value (EV)		 418 358 206 83 253 133
Market Capitalization		 200 455 282 143 306 174
Book Value per Share		 ($13.76) $1.99 $1.60 $1.26 $0.89 $0.68
Tangible Book Value per Share		 ($14.04) $1.92 $1.53 $1.21 $0.85 $0.64
Total Capital		 36 105 82 62 43 36
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -15 -73 -47 -32 -31 -25
Capital Expenditures (CapEx)		 0.81 3.14 0.00 -2.43 0.00 0.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 15 24 24 23 7.03 4.85
Debt-free Net Working Capital (DFNWC)		 30 97 72 55 38 30
Net Working Capital (NWC)		 30 97 72 55 38 30
Net Nonoperating Expense (NNE)		 2.24 26 14 8.06 7.23 2.91
Net Nonoperating Obligations (NNO)		 -15 -73 -47 -32 -31 -25
Total Depreciation and Amortization (D&A)		 0.98 1.09 1.41 1.69 1.41 0.94
Debt-free, Cash-free Net Working Capital to Revenue		 13.78% 17.03% 14.78% 13.83% 4.54% 3.01%
Debt-free Net Working Capital to Revenue		 27.36% 69.95% 43.82% 33.03% 24.31% 18.73%
Net Working Capital to Revenue		 27.36% 69.95% 43.82% 33.03% 24.31% 18.73%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.33) $0.00 ($0.41) ($0.34) ($0.15)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 34.45M 0.00 50.62M 58.68M 66.02M
Adjusted Diluted Earnings per Share		 $0.00 ($1.33) $0.00 ($0.41) ($0.34) ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 34.45M 0.00 50.62M 58.68M 66.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 66.69M 0.00 71.85M 73.51M 75.10M
Normalized Net Operating Profit after Tax (NOPAT)		 1.67 -6.79 -15 -14 -12 -6.73
Normalized NOPAT Margin		 1.52% -4.92% -9.00% -8.69% -7.47% -4.18%
Pre Tax Income Margin		 -4.98% -63.42% -29.16% -16.99% -15.30% -6.89%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% -3.04% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -12.30% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Zevia PBC

This table displays calculated financial ratios and metrics derived from Zevia PBC's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 71,352,798.00 71,340,335.00 71,850,035.00 72,297,861.00 72,712,605.00 - 73,508,696.00 74,221,241.00 74,949,593.00 - 75,101,464.00
DEI Adjusted Shares Outstanding		 71,352,798.00 71,340,335.00 71,850,035.00 72,297,861.00 72,712,605.00 - 73,508,696.00 74,221,241.00 74,949,593.00 - 75,101,464.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.12 -0.10 -0.08 -0.08 -0.03 - -0.07 -0.01 -0.04 - -0.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.60% 6.87% -10.39% -4.30% -15.60% 4.40% -2.00% 10.14% 12.31% -4.03% 21.22%
EBITDA Growth		 -22.33% -51.40% -176.55% -42.94% 80.91% 26.11% 11.41% 94.17% -28.64% 84.48% 64.70%
EBIT Growth		 -22.40% -49.01% -146.86% -39.26% 74.71% 25.98% 11.91% 90.85% -1.19% 81.24% 63.25%
NOPAT Growth		 -23.85% -40.10% -124.02% -31.47% 74.05% 28.75% 12.30% 85.63% 3.07% 76.11% 62.85%
Net Income Growth		 -22.34% -48.31% -147.22% -38.97% 74.74% 25.90% 11.50% 90.65% -0.21% 80.89% 62.91%
EPS Growth		 0.00% -30.00% -150.00% -25.00% 75.00% 23.08% 20.00% 90.00% 0.00% 80.00% 62.50%
Operating Cash Flow Growth		 -5,262.98% -361.31% -134.07% 103.39% 136.23% 69.88% 8.65% -591.84% -97.02% 74.52% 156.10%
Free Cash Flow Firm Growth		 70.34% 77.63% -195.54% 131.24% 508.06% 892.21% 286.62% 87.02% -66.31% -92.47% -97.08%
Invested Capital Growth		 -13.77% -13.30% 7.97% -31.70% -47.81% -58.77% -64.93% -47.20% -39.05% -16.64% -21.37%
Revenue Q/Q Growth		 2.01% -12.29% 2.66% 4.19% -10.04% 8.50% -3.64% 17.10% -8.27% -7.29% 21.71%
EBITDA Q/Q Growth		 -137.86% 19.35% 21.66% 4.88% 68.22% -156.30% 12.20% 93.74% -601.58% 59.72% -99.72%
EBIT Q/Q Growth		 -126.28% 18.88% 21.29% 3.60% 58.91% -137.46% 6.33% 89.98% -354.26% 55.97% -83.44%
NOPAT Q/Q Growth		 -112.39% 22.11% 18.12% 2.94% 58.07% -113.83% -0.77% 84.09% -182.78% 47.30% -56.74%
Net Income Q/Q Growth		 -124.60% 18.66% 21.33% 3.31% 59.17% -138.60% 6.05% 89.78% -337.48% 54.49% -82.33%
EPS Q/Q Growth		 -100.00% 18.75% 23.08% 0.00% 60.00% -150.00% 20.00% 87.50% -300.00% 50.00% -50.00%
Operating Cash Flow Q/Q Growth		 -28.98% 38.49% 51.53% 108.81% 1,279.79% -151.14% -46.98% 52.58% 108.36% -537.07% 423.67%
Free Cash Flow Firm Q/Q Growth		 -241.03% 46.55% -330.83% 171.21% 148.86% 3.76% 1.49% -28.64% -55.17% -76.81% -60.63%
Invested Capital Q/Q Growth		 -2.80% -2.93% -8.30% -21.06% -25.74% -23.30% -22.00% 18.84% -14.27% 4.90% -26.43%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 45.42% 40.72% 45.67% 41.91% 49.08% 49.21% 50.06% 48.72% 45.58% 47.74% 48.36%
EBITDA Margin		 -25.12% -23.10% -17.63% -16.09% -5.68% -16.35% -15.94% -0.85% -6.51% -2.83% -4.64%
Operating Margin		 -26.50% -23.54% -18.77% -17.49% -8.15% -16.06% -16.80% -2.28% -7.03% -4.00% -5.15%
EBIT Margin		 -26.12% -24.16% -18.52% -17.14% -7.83% -17.13% -16.65% -1.42% -7.05% -3.35% -5.05%
Profit (Net Income) Margin		 -26.11% -24.21% -18.55% -17.22% -7.82% -17.19% -16.76% -1.46% -6.97% -3.42% -5.13%
Tax Burden Percent		 99.96% 100.23% 100.18% 100.49% 99.86% 100.34% 100.65% 102.68% 98.89% 102.21% 101.59%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -91.74% -85.42% -80.81% -73.71% -37.45% -82.81% -98.25% -15.34% -62.17% -40.05% -71.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 -84.33% -78.05% -75.85% -68.41% -35.29% -75.32% -91.52% -15.56% -59.32% -39.20% -68.68%
Return on Net Nonoperating Assets (RNNOA)		 48.03% 43.14% 46.77% 40.24% 21.31% 45.04% 55.32% 9.74% 41.21% 27.95% 52.21%
Return on Equity (ROE)		 -43.71% -42.27% -34.04% -33.47% -16.14% -37.78% -42.93% -5.60% -20.96% -12.09% -19.05%
Cash Return on Invested Capital (CROIC)		 -40.93% -48.86% -95.33% -53.60% -15.68% 4.57% 9.85% -9.14% -41.64% -55.09% -39.64%
Operating Return on Assets (OROA)		 -37.29% -42.37% -30.25% -29.14% -12.69% -33.44% -34.93% -3.34% -17.28% -8.21% -14.25%
Return on Assets (ROA)		 -37.28% -42.46% -30.30% -29.28% -12.67% -33.56% -35.16% -3.42% -17.09% -8.39% -14.48%
Return on Common Equity (ROCE)		 -61.07% -58.85% -47.05% -47.41% -23.77% -55.83% -61.62% -8.12% -30.69% -17.85% -26.29%
Return on Equity Simple (ROE_SIMPLE)		 -25.03% 0.00% -40.62% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -7.99 -6.23 -5.10 -4.95 -2.07 -4.44 -4.47 -0.71 -2.01 -1.06 -1.66
NOPAT Margin		 -18.55% -16.47% -13.14% -12.24% -5.71% -11.24% -11.76% -1.60% -4.92% -2.80% -3.60%
Net Nonoperating Expense Percent (NNEP)		 -7.42% -7.37% -4.96% -5.30% -2.15% -7.49% -6.73% 0.22% -2.85% -0.84% -2.58%
Return On Investment Capital (ROIC_SIMPLE)		 - -10.08% -9.09% -9.79% -4.26% -10.33% -11.98% -1.89% -5.62% -2.98% -4.87%
Cost of Revenue to Revenue		 54.58% 59.28% 54.33% 58.09% 50.92% 50.79% 49.94% 51.28% 54.42% 52.26% 51.64%
SG&A Expenses to Revenue		 19.15% 22.21% 20.92% 19.03% 20.29% 17.33% 18.35% 18.15% 18.79% 19.25% 19.67%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 71.93% 64.25% 64.44% 59.39% 57.23% 65.27% 66.86% 51.00% 52.61% 51.74% 53.51%
Earnings before Interest and Taxes (EBIT)		 -11 -9.13 -7.19 -6.93 -2.85 -6.76 -6.33 -0.63 -2.88 -1.27 -2.33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -11 -8.73 -6.84 -6.51 -2.07 -6.45 -6.06 -0.38 -2.66 -1.07 -2.14
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.56 1.60 1.05 0.65 1.08 4.72 2.96 4.51 3.98 3.41 1.96
Price to Tangible Book Value (P/TBV)		 1.63 1.66 1.09 0.68 1.13 4.96 3.14 4.78 4.24 3.63 2.11
Price to Revenue (P/Rev)		 0.97 0.86 0.52 0.30 0.51 1.97 1.03 1.51 1.25 1.08 0.52
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.86 2.80 1.14 0.00 1.38 20.61 11.96 17.32 16.62 13.00 6.71
Enterprise Value to Revenue (EV/Rev)		 0.54 0.50 0.19 0.00 0.14 1.63 0.74 1.25 1.00 0.83 0.30
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 263.29 63.04 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.57 -0.55 -0.62 -0.59 -0.60 -0.60 -0.60 -0.63 -0.69 -0.71 -0.76
Leverage Ratio		 1.49 1.32 1.44 1.46 1.60 1.52 1.57 1.53 1.57 1.68 1.68
Compound Leverage Factor		 1.49 1.32 1.44 1.46 1.60 1.52 1.57 1.53 1.57 1.68 1.68
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -46.21% -45.51% -43.21% -48.43% -48.84% -51.07% -44.03% -40.65% -43.17% -43.36% -31.42%
Common Equity to Total Capital		 146.21% 145.51% 143.21% 148.43% 148.84% 151.07% 144.03% 140.65% 143.17% 143.36% 131.42%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 2.61 3.62 2.30 1.76 2.41 7.46 3.78 6.07 5.19 3.88 2.38
Noncontrolling Interest Sharing Ratio		 -39.71% -39.20% -38.21% -41.66% -47.30% -47.79% -43.53% -45.11% -46.44% -47.58% -38.01%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.35 2.98 2.78 3.09 2.85 2.56 2.34 2.34 2.27 2.08 2.21
Quick Ratio		 1.20 1.55 1.54 1.90 1.84 1.71 1.52 1.62 1.61 1.30 1.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3.09 -1.65 -7.12 5.07 13 13 13 9.48 4.25 0.99 0.39
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -26,590.91% 0.00% 0.00% -625.93% 607.78%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.43 1.75 1.63 1.70 1.62 1.95 2.10 2.34 2.45 2.45 2.82
Accounts Receivable Turnover		 10.97 15.00 11.42 11.32 11.63 14.15 13.51 12.94 14.40 14.73 18.95
Inventory Turnover		 2.05 2.95 3.01 3.02 2.44 3.13 3.40 4.23 4.83 4.30 5.48
Fixed Asset Turnover		 44.29 49.31 71.07 69.87 77.43 92.02 103.43 116.75 138.01 151.56 171.47
Accounts Payable Turnover		 3.09 6.28 4.34 4.54 3.24 4.56 4.92 6.06 5.85 5.10 6.30
Days Sales Outstanding (DSO)		 33.28 24.34 31.97 32.24 31.39 25.79 27.02 28.20 25.35 24.79 19.26
Days Inventory Outstanding (DIO)		 177.80 123.69 121.40 120.71 149.63 116.74 107.49 86.27 75.57 84.92 66.57
Days Payable Outstanding (DPO)		 117.97 58.12 84.01 80.35 112.50 80.06 74.15 60.20 62.34 71.53 57.90
Cash Conversion Cycle (CCC)		 93.11 89.91 69.36 72.60 68.52 62.47 60.37 54.27 38.57 38.18 27.93
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31 30 27 22 16 12 9.59 11 9.77 10 7.54
Invested Capital Turnover		 4.95 5.18 6.15 6.02 6.56 7.37 8.36 9.61 12.63 14.31 19.77
Increase / (Decrease) in Invested Capital		 -4.90 -4.58 2.02 -10 -15 -18 -18 -10 -6.26 -2.05 -2.05
Enterprise Value (EV)		 88 83 31 -4.59 22 253 115 197 162 133 51
Market Capitalization		 158 143 84 49 79 306 159 239 204 174 88
Book Value per Share		 $1.42 $1.26 $1.12 $1.04 $1.00 $0.89 $0.73 $0.71 $0.68 $0.68 $0.60
Tangible Book Value per Share		 $1.36 $1.21 $1.07 $0.99 $0.95 $0.85 $0.69 $0.67 $0.64 $0.64 $0.56
Total Capital		 69 62 56 51 49 43 37 38 36 36 34
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -39 -32 -29 -29 -33 -31 -28 -26 -26 -25 -27
Capital Expenditures (CapEx)		 -2.27 -0.09 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.08 0.27
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 23 23 21 15 10 7.03 4.59 6.32 4.51 4.85 2.28
Debt-free Net Working Capital (DFNWC)		 62 55 50 44 43 38 32 33 31 30 29
Net Working Capital (NWC)		 62 55 50 44 43 38 32 33 31 30 29
Net Nonoperating Expense (NNE)		 3.26 2.92 2.10 2.01 0.77 2.34 1.90 -0.06 0.84 0.24 0.70
Net Nonoperating Obligations (NNO)		 -39 -32 -29 -29 -33 -31 -28 -26 -26 -25 -27
Total Depreciation and Amortization (D&A)		 0.43 0.40 0.35 0.42 0.78 0.31 0.27 0.26 0.22 0.20 0.19
Debt-free, Cash-free Net Working Capital to Revenue		 14.08% 13.83% 12.87% 9.59% 6.64% 4.54% 2.97% 3.99% 2.77% 3.01% 1.35%
Debt-free Net Working Capital to Revenue		 37.59% 33.03% 30.61% 27.67% 27.95% 24.31% 20.94% 20.60% 18.75% 18.73% 17.05%
Net Working Capital to Revenue		 37.59% 33.03% 30.61% 27.67% 27.95% 24.31% 20.94% 20.60% 18.75% 18.73% 17.05%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.16) ($0.14) ($0.10) ($0.10) ($0.04) ($0.10) ($0.08) ($0.01) ($0.04) ($0.02) ($0.03)
Adjusted Weighted Average Basic Shares Outstanding		 50.75M 50.62M 55.89M 58.65M 59.49M 58.68M 62.95M 66.33M 67.33M 66.02M 68.21M
Adjusted Diluted Earnings per Share		 ($0.16) ($0.13) ($0.10) ($0.10) ($0.04) ($0.10) ($0.08) ($0.01) ($0.04) ($0.02) ($0.03)
Adjusted Weighted Average Diluted Shares Outstanding		 50.75M 50.62M 55.89M 58.65M 59.49M 58.68M 76.50M 66.33M 67.33M 66.02M 68.21M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 71.34M 71.85M 72.30M 72.71M 73.01M 73.51M 74.22M 74.95M 75.00M 75.10M 76.98M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.68 -5.06 -4.06 -3.34 -2.00 -3.73 -2.97 -0.00 -2.01 -1.06 -1.66
Normalized NOPAT Margin		 -15.50% -13.39% -10.45% -8.27% -5.49% -9.45% -7.82% 0.00% -4.92% -2.80% -3.60%
Pre Tax Income Margin		 -26.12% -24.16% -18.52% -17.14% -7.83% -17.13% -16.65% -1.42% -7.05% -3.35% -5.05%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Zevia PBC (NYSE: ZVIA) has shown some improvement in revenue and near-term cash generation, but the company is still struggling with persistent losses and a highly leveraged balance sheet structure. Over the last several quarters, revenue has been fairly resilient, operating cash flow has turned positive in the latest quarter, and cash on hand remains solid. However, margins are under pressure, marketing and operating expenses remain heavy, and net losses continue to weigh on equity value.

  • Q1 2026 revenue rose to $46.1 million, up from $37.9 million in Q4 2025 and $38.0 million in Q1 2025, showing a meaningful rebound in top-line growth.
  • Gross profit improved to $22.3 million in Q1 2026, with gross margin holding around 48%, suggesting the company is still able to protect pricing and product economics to some degree.
  • Operating cash flow was positive $1.6 million in Q1 2026, a notable improvement from negative $0.5 million in Q4 2025 and negative $2.9 million in Q1 2025.
  • Cash and equivalents increased to $26.6 million at the end of Q1 2026, giving the company a decent liquidity cushion.
  • Total current assets of $52.7 million still exceed total current liabilities of $23.8 million, which supports short-term solvency.
  • The company has limited capital spending, with only $270,000 of PP&E purchases in Q1 2026, indicating a light asset base.
  • Depreciation and amortization remain relatively modest, so non-cash charges are not the primary driver of reported losses.
  • Despite better revenue, Zevia still posted a net loss of $2.4 million in Q1 2026, and losses have been recurring for several years.
  • Operating income was negative $2.4 million in Q1 2026, showing the core business is not yet consistently profitable.
  • Marketing expense remained high at $14.5 million in Q1 2026, representing a large share of revenue and continuing to pressure margins.

Looking at the broader trend, Zevia’s revenue has generally moved in a fairly tight range around the high-$30 million to mid-$40 million level per quarter, but profitability has not kept pace. In 2024, quarterly losses were often much larger, and the latest quarter suggests some improvement in operating discipline. Still, the company is not yet producing sustained earnings power.

The balance sheet is another mixed picture. Equity remains positive on a reported basis, with total equity and noncontrolling interests of $34.1 million in Q1 2026, but retained earnings are deeply negative at $(133.5) million. That reflects a long history of losses. Investors should also note the large noncontrolling interest balances and the fact that total liabilities remain meaningful relative to assets.

Bottom line: Zevia is showing signs of stabilization, especially in revenue and operating cash flow, but it is still a turnaround story. For retail investors, the key question is whether the company can keep growing sales while trimming marketing and overhead enough to reach sustained profitability.

07/14/26 02:50 AM ETAI Generated. May Contain Errors.

Zevia PBC Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Zevia PBC's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Zevia PBC's net income appears to be on a downward trend, with a most recent value of -$11.17 million in 2025, rising from -$6.07 million in 2020. The previous period was -$23.78 million in 2024. See where experts think Zevia PBC is headed by visiting Zevia PBC's forecast page.

Zevia PBC's total operating income in 2025 was -$11.79 million, based on the following breakdown:
  • Total Gross Profit: $77.42 million
  • Total Operating Expenses: $89.21 million

Over the last 5 years, Zevia PBC's total revenue changed from $110.03 million in 2020 to $161.26 million in 2025, a change of 46.6%.

Zevia PBC's total liabilities were at $28.02 million at the end of 2025, a 12.0% increase from 2024, and a 95.8% increase since 2020.

In the past 5 years, Zevia PBC's cash and equivalents has ranged from $14.94 million in 2020 to $47.40 million in 2022, and is currently $25.35 million as of their latest financial filing in 2025.

Over the last 5 years, Zevia PBC's book value per share changed from -13.76 in 2020 to 0.68 in 2025, a change of -104.9%.


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Financial statements for NYSE:ZVIA last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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