Q4 2024 Jones Soda Co Earnings Call Transcript
Key Points
- Jones Soda Co (JSDA) reported a 15% increase in net revenue for 2024, reaching $19.1 million compared to $16.7 million in the prior year.
- The company saw strong growth in its hemp-derived HD9 products, generating $1.7 million in net revenues during 2024.
- Jones Soda Co (JSDA) expanded its distribution network to 81 partners, enhancing its presence in key national and regional retailers across 37 states.
- The company launched innovative products like zero colas and limited edition collaborations, such as the exclusive agreement with Crayola.
- Jones Soda Co (JSDA) is optimistic about the future of the functional soda segment, with new products like Popp Jones and Fiesta Jones gaining traction.
- Gross profit as a percentage of revenue decreased to 21.3% from 29.1% in the prior period, primarily due to a $1.2 million one-time inventory impairment charge.
- Total operating expenses increased significantly to $14 million in 2024 from $9.7 million in 2023, driven by higher selling and marketing expenses.
- The company reported a net loss of $9.9 million for 2024, up from a net loss of $4.9 million in 2023.
- Jones Soda Co (JSDA) faced operational challenges and poor financial discipline in the latter half of the year, impacting growth.
- The company experienced a decrease in adjusted EBITDA, which was negative $8.7 million compared to negative $4.6 million in the previous year.
Good morning everyone. Thank you for participating in today's conference call to discuss Joan Soda's financial results for the fourth quarter and full year ended December 31, 2024. Before we begin, let me remind everyone of the company's Safe Harbor disclaimer.
Certain portions of our comments today will concern future expectations, plans, and prospects of the company that constitute forward-looking statements for the purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include all statements containing verbs such as aims, anticipates, estimates, expects, beliefs, intends, plans, predicts, will, may, continue, projects or targets, and negatives of these words in similar words or expressions.
Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements.
Factors that could affect our actual results include, among others, those that are discussed under the headings risk factors in
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