Zevia PBC Class A (ZVIA)

Zevia PBC's stock has experienced a significant decline over the past six months. Key events impacting the stock include the Q3 2025 earnings report, which showed net sales growth but a decrease in gross profit margin and a net loss, the Q4 2024 outlook, which anticipated net sales at the high end of its previous outlook but also an Adjusted EBITDA loss due to a holiday marketing campaign, and continued stock price fluctuations.

While the demand for beverages is typically stable, Zevia has shown some indications of seasonality in its marketing and product releases. The company has launched limited-time summer flavors and made an "incremental investment" in a holiday marketing campaign. Despite these efforts, Zevia's sales volumes have not been consistently strong.

Zevia PBC is a public benefit corporation based in Los Angeles that develops, markets, sells, and distributes zero-sugar, naturally sweetened beverages in the United States and Canada. The company focuses on health-conscious consumers seeking alternatives to traditional sugary drinks, offering a range of beverages like sodas, energy drinks, and organic teas. Zevia's products are made with plant-based ingredients, sweetened with stevia, and are Non-GMO Project Verified, gluten-free, Kosher, and vegan. The company partners with co-manufacturers for production, packaging, and logistics, while maintaining control over its formulations and ingredient sourcing.

Zevia PBC's geographic footprint primarily spans the United States and Canada. The company distributes its products through a network of major retailers, reaching over 39,000 retail locations across both countries.

Zevia has focused on reinforcing its brand as a "better-for-you" beverage option, emphasizing its zero-sugar, clean-label, and naturally sweetened products. A notable event impacting its reputation was the "Break from Artificial" holiday marketing campaign, which used exaggerated AI imagery to parody mainstream soda holiday ads. The company also underwent a brand refresh and maintains its commitment to being a Certified B Corporation.

Zevia PBC has a mixed ownership structure, with a significant concentration among institutional and insider groups. Institutional investors hold approximately 53.21% of the company's shares, while insiders and 10% owners hold about 40.70%. Retail/individual investors account for the remaining 6.09%.