Zevia
Makes zero-sugar sodas and energy drinks sold mainly in the U.S. and Canada.
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Profile
Sells zero-sugar beverages under one brand, led by Soda with Energy as the continuing extension and Tea being phased out. Revenue is concentrated in North America, products move through retail and e-commerce channels, and production relies on third-party beverage facilities.
Sells zero-sugar, naturally sweetened beverages under the Zevia brand, with Soda as the core line and Energy as the continuing extension. Tea remains listed in the portfolio context but is scheduled to be discontinued, leaving the business focused on carbonated better-for-you drinks.
Products are sold principally in the U.S. and Canada through grocery, drug, warehouse club, mass, natural, convenience, e-commerce, and specialty channels. Manufacturing and warehousing are outsourced to third-party beverage facilities in both countries.
The company operates as a Delaware public benefit corporation and Certified B Corporation, with one operating and reporting segment. Soda accounts for most sales, and the model depends on concentrated customers, concentrated suppliers, aluminum-can costs, and beverage labeling compliance.
Company facts
Key statistics
Year to date −27.9% · Average volume (30d) 418.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Morgan Stanley | Target | $2.75 | $1.75 | ||
| May 7, 2026 | Telsey Advisory | Target | $6 | $3 | ||
| Jan 15, 2026 | Craig-Hallum | Target | $4 | |||
| Aug 4, 2025 | Telsey Advisory Group | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.03 | −$0.03 | 0.0% | $44.2M | $45.0M | +1.8% | −14.04% |
| May 6, 2026Q1 FY26 | −$0.03 | −$0.03 | 0.0% | $41.0M | $46.1M | +12.5% | +9.24% |
| Feb 25, 2026Q4 FY25 | −$0.03 | −$0.02 | +33.3% | $40.2M | $37.9M | −5.7% | −12.90% |
| Nov 5, 2025Q3 FY25 | −$0.06 | −$0.04 | +33.3% | $40.0M | $40.8M | +2.2% | +12.39% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $38.0M | $44.5M | $40.8M | $37.9M | $46.1M | $45.0M | |
| Gross profit | $19.0M | $21.7M | $18.6M | $17.2M | $22.1M | $22.0M | |
| Operating income | −$6.4M | −$1.0M | −$2.9M | $655.0K | −$2.4M | −$2.9M | |
| Net income | −$5.2M | −$697.0K | −$2.7M | −$1.4M | −$2.3M | −$2.8M | |
| Diluted EPS | −$0.08 | −$0.01 | −$0.04 | −$0.02 | −$0.03 | −$0.04 | |
| Gross margin | 50.1% | 48.7% | 45.6% | 45.4% | 48.0% | 48.9% | |
| Operating margin | -16.8% | -2.3% | -7.0% | 1.7% | -5.1% | -6.4% |
Fiscal years (4-quarter sums)FY21 $138.2M · FY22 $163.2M · FY23 $166.4M · FY24 $155.0M · FY25 $161.3M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $28.5M · Total debt $309.0K · Total assets $64.2M · Shareholders' equity $44.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 71.78M · Float 49.60M · 69.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Caisse de Depot et Placement du Quebec · 10 percent owner | 11.40M | 15.88% | Form 4 | May 28, 2026 |
| Topline Capital Management, LLC | 6.75M | 9.40% | 13F | May 15, 2026 |
| BlackRock, Inc. | 3.12M | 4.34% | 13F | May 13, 2026 |
| Amy Taylor · director, officer: President & CEO | 2.39M | 3.33% | Form 4 | Mar 30, 2026 |
| Jefferies Financial Group Inc. | 2.10M | 2.92% | 13F | May 8, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 27, 2026 | De Depot Et Placement Du Quebec Caisse | 10 percent owner | −2,150,000 | $1.90 |
| Mar 30, 2026 | Amy Taylor | director, officer: President & CEO | −10,776 | $1.16 |
| Mar 27, 2026 | Amy Taylor | director, officer: President & CEO | −66,501 | $1.14 |
| Mar 26, 2026 | Amy Taylor | director, officer: President & CEO | −66,731 | $1.17 |
| Mar 25, 2026 | Girish Satya | officer: Chief Financial Officer | −41,662 | $1.18 |
Peers
- Coca-Cola
Dominant CSD rival across cola, zero-sugar, and flavored soda
- PepsiCo
Scaled CSD and functional-soda rival through Pepsi, Mountain Dew, Poppi
- Keurig Dr Pepper
North American CSD and energy rival across Dr Pepper, 7UP, and GHOST
- National Beverage
Mid-sized sparkling, CSD, and energy peer with LaCroix, Shasta, Faygo
- Monster Beverage
Energy-drink specialist competing with Zevia's Energy extension
- Reed's
Small listed natural-soda peer through Reed's and Virgil's craft sodas
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Zevia | $1.44 | −0.69% | $103.4M | — | — | 0.6 | +1.1% |
| Coca-Cola | $89.75 | +0.11% | $385.77B | 26.9 | 26.5 | 7.7 | +6.7% |
| PepsiCo | $141.75 | +0.48% | $192.70B | 18.5 | 16.2 | 2.0 | +6.4% |
| Keurig Dr Pepper | $32.50 | +1.03% | $43.78B | 32.4 | 13.1 | 2.2 | +75.6% |
| National Beverage | $32.58 | −0.03% | $3.05B | 16.6 | 16.7 | 2.6 | −5.3% |
| Monster Beverage | $46.92 | +0.13% | $91.66B | 43.2 | 38.3 | 9.9 | +20.2% |
| Reed's | $1.00 | +1.97% | $11.2M | — | — | 0.4 | −21.4% |
| Median | 26.9 | 16.7 | 2.4 | +6.5% |