Key Highlights

  • Net sales climbed 18.4% to USD 48.3 million in the third quarter from USD 40.8 million, and equivalized cases increased 14.4% to 3.7 million.
  • The net loss attributable to the company contracted to USD 2.1 million, or USD 0.03 a share, versus USD 2.7 million, or USD 0.04, in the earlier year.
  • Gross profit amounted to USD 22.4 million, roughly a 46% gross Margin (calculated), while the operating loss decreased to USD 2.2 million from USD 2.9 million.
  • The company placed USD 15.0 million of Series A preferred stock with an affiliate of GP Investments on October 22, 2026, and up to USD 5.0 million more is deferred.

Club and E-commerce Volumes Lift Third-Quarter Sales

Zevia (NYSE:ZVIA) lodged its quarterly filing on November 4, 2026, for the period ending September 30, 2026. Net sales rose USD 7.5 million to USD 48.3 million, mostly because equivalized cases grew 14.4%, which contributed USD 5.9 million. Gains in the club and e-commerce segments drove much of the Volume increase. Price adjustments added USD 1.2 million, and reduced incentives and discounts contributed USD 0.4 million. The firm produces zero sugar, naturally sweetened sodas and energy drinks sold across the United States and Canada, and it plans to end its Tea line during 2026. Net sales for nine months totaled USD 139.4 million, up from USD 123.4 million.

Selling Costs Rise but the Operating Loss Narrows

Cost of goods sold went up 16.5% to USD 25.9 million, and management anticipates tariffs will keep pressure on costs. Selling and Marketing outlays rose to USD 15.1 million from USD 12.7 million, and general and administrative spending came to USD 8.3 million. Even so, the operating loss narrowed to USD 2.2 million because sales grew faster than costs. For nine months the attributable net loss reached USD 7.2 million, or USD 0.10 a share, compared with USD 8.6 million, or USD 0.13. Cash stood at USD 29.5 million on September 30, 2026, up from USD 25.4 million at year-end, while nine-month Operating Cash Flow hit USD 5.5 million. Alexandre Ruberti became chief executive in June 2026.

Preferred Stock Terms Tie the Deferred USD 5.0 Million to Targets

The Series A Senior Convertible Preferred Stock agreement permits sales of up to 20,000 shares priced at USD 1,000 apiece, equal to USD 20.0 million. Of these, 15,000 shares were issued on October 22, 2026, while the remaining 5,000 shares, worth USD 5.0 million, close after the filing of the 2026 Annual Report if conditions are satisfied, including full-year 2026 net sales of at least USD 172.5 million and adjusted EBITDA no lower than negative USD 3.0 million. Nine-month sales of USD 139.4 million imply that fourth-quarter sales must reach at least USD 33.1 million (calculated). Dividends accrue at 6.00% annually beginning at the earliest of several specified dates, and issuance costs total about USD 3.0 million.

Where Things Stand

Momentum is intact, but conditions are attached. Zevia (NYSE:ZVIA) lifted net sales 18.4% on volume, trimmed its losses and held USD 29.5 million of cash, while the preferred round adds funding. The deferred USD 5.0 million hinges on hitting full-year targets, and tariffs and freight costs weigh on margins. Next, watch fourth-quarter sales against the implied USD 33.1 million level, the annual report and whether club and e-commerce gains persist.