Zevia’s second quarter results came in above Wall Street’s revenue expectations, but the market reacted negatively, likely reflecting concerns around profitability and ongoing cost pressures. Management attributed the quarter’s performance to successful pricing actions and initial results from its new packaging and flavor rollout. CEO Alexandre Ruberti acknowledged the need for improved in-store execution and highlighted the importance of expanding Zevia’s singles platform, saying, “singles represent a cost entry point into the brand and a catalyst for driving trial and long-term customer acquisition.”
Is now the time to buy ZVIA? Find out in our full research report (it’s free for active Edge members).
Zevia (ZVIA) Q2 CY2026 Highlights:
- Revenue: $45 million vs analyst estimates of $44.22 million (1.1% year-on-year growth, 1.8% beat)
- Adjusted EPS: -$0.02 vs analyst estimates of -$0.03 (in line)
- Adjusted EBITDA: $523,000 (1.2% margin, 124% year-on-year growth)
- The company reconfirmed its revenue guidance for the full year of $172.5 million at the midpoint
- EBITDA guidance for the full year is -$3 million at the midpoint, above analyst estimates of -$2.99 million
- Operating Margin: -6.4%, down from -2.3% in the same quarter last year
- Sales Volumes were up 3.7% year on year
- Market Capitalization: $98.11 million
While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Zevia’s Q2 Earnings Call
- Andrew Strelzik (BMO Capital Markets) pressed on which strategic priorities could yield the fastest results and inquired about the implied Q4 slowdown. CEO Alexandre Ruberti emphasized singles as the most immediate opportunity and attributed Q4’s flat outlook to marketing timing and club channel fluctuations, not new headwinds.
- James Salera (Stephens Inc.) asked about the operational readiness to scale singles nationwide and queried the mix of distribution models. Ruberti outlined plans to balance direct store delivery, brokers, and merchandising agencies, targeting a full go-to-market rollout by early 2027, with product and format improvements supporting the shift.
- Salera (Stephens Inc.) also questioned input cost inflation and the potential for further price increases. CFO Girish Satya said recent pricing actions were preemptive, and further increases are unlikely this year; focus will shift to cost savings and margin management.
- Eric Des Lauriers (Craig-Hallum) probed early results from the new packaging and flavors rollout. Ruberti said it was too early for definitive sales impact, but initial velocity trends in natural channels were encouraging.
- Eric Serotta (Morgan Stanley) sought clarity on whether new initiatives would require meaningfully higher investment. Ruberti replied the plan is still being developed, but the goal is to “make the dollars work harder” and pursue the most efficient go-to-market mix, with selective incremental spending likely needed for execution.
Catalysts in Upcoming Quarters
Looking ahead, the StockStory team will be monitoring (1) progress on the singles rollout and whether Zevia can secure new distribution deals, (2) signs of improved in-store execution and merchandising productivity within existing accounts, and (3) the ability of the Cardi B campaign and new product launches to drive measurable increases in consumer engagement and sales velocity. Ongoing cost management and the timing of additional efficiency gains will also be important to watch.
Zevia currently trades at $1.37, down from $1.71 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it’s free).
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