🔔 Jones Reports Mixed Q2 Results

From top to bottom, Jones Soda’s Q2 earnings, released this week, were both up and down – reflecting the company’s emphasis on innovation and the costs that come with a large portfolio spread over multiple categories. Here’s a look at the numbers:

• Revenue was $7.2 million during the quarter, a 49% increase compared to the same period last year.
• Gross margin was 35%, a 3% improvement year-over-year.
• Net loss was $1.6 million versus a loss of $1 million in Q2 2023.
• Adjusted EBITDA was -$1.1 million compared to -$729,000 in the prior year period.

🗣️ What they said: “We do expect our bottom line to continue to improve… We’re very committed to being good stewards of capital, and have intentionally ramped up our investments in the short term to accelerate growth and increase profitability over the long term.” - David Knight, president and CEO, during a call with investors 

Jones has been on a mission to scale the company from its craft soda roots into disruptive beverage industry competitor by launching into new formats, RTD cocktails, zero-calorie sodas and an entrance this year into prebiotic soft drinks and canned mixers.

BevNET Insiders can read the full earnings recap to understand what direction the beverage brand is building.

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Believe it or not, not all new soda brands include gut health claims: see United Sodas (formerly United Sodas of America). The brand is using a revamped formulation and new packaging as a route to connect with retail consumers eager for a flavor-first approach.

🔀 As it transitions from a predominantly online company into a larger brick-and-mortar retail presence, the brand is aiming to reintroduce itself with a new formulation that drops much-maligned erythritol in favor of an improved blend of stevia and cane sugar, raising the total to 8 grams (35 calories) per 12 oz. can.

United Sodas’ minimalist approach offers a refreshingly straightforward proposition within a category that increasingly embraces functionality.

• No functional ingredients means consumers “don’t have to make any decisions” outside of pleasure, said Kate Reeder, United Sodas’ COO and Head of Brand. 
• There may be something to that notion: conventional CSDs are still putting up impressive growth numbers – just ask Dr Pepper.

BevNET Insiders can hear more about the brand’s new approach from Reeder and United Sodas’ head of marketing Carli Nichols.

BevNET proudly presents the 2024 Natural Beverage Guide, now available in the July/August edition of BevNET Magazine, both in print and online. This guide showcases a wide range of brands, from kombuchas to healthy sodas, along with essential suppliers and service providers. View now. 

The podcast team takes the temperature of the CPG industry as it gears up for the impending return of next-gen convenience chain Foxtrot and non-alcoholic beverage retailer Boisson. 

🦊The group kicks off the conversation with Foxtrot and sifts through how the c-store can rebuild trust with suppliers and bring the company back to its roots where it found early success and an avid fanbase.

😠 Later, the chatter shifts to discuss what non-alc brands are saying about Boisson’s rebirth as a wholesaler and ecommerce retailer and why there are still some hard feelings within the category over unpaid bills.

🥂 The episode wraps up with a look at a another NA retailer – Sèchey – and how its new investment partner InvestBev represents a vote of confidence for the category.

Listen to the full episode on Nosh.

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The world’s relationship with alcohol is changing and with it comes an array of non-alc beer, wine, and spirits to meet growing consumer demand. How can food and beverage owners and operators leverage the fastest-growing category in bev-alc? Here’s what America’s #1 non-alc spirits brand recommends. Learn more

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