Zevia PBC Class A (ZVIA)

Zevia PBC experienced several stock events between October 2025 and March 2026. The Q3 2025 earnings surpassed expectations, leading to a stock increase. The Q4 2025 results were mixed, with net sales declining but adjusted EBITDA improving. Guidance for 2026 net sales was provided, reflecting anticipated distribution gains from a national Costco program. Insider selling by the CEO and CFO occurred in late March 2026. Overall, ZVIA's stock price declined by 55.51% over the past six months.

Zevia PBC's products experience demand seasonality, with management expecting higher sales volume in the second and third quarters of the year. This aligns with historical seasonality and is influenced by new product launches and expanded distribution. Strategic investments in the club channel, such as the national Costco program, are intended to support future growth and potentially impact seasonal sales patterns.

Zevia PBC is a beverage company based in Encino, California, specializing in naturally delicious, zero-sugar, clean-label beverages. The company operates in the Consumer Staples sector, specifically the Non-Alcoholic Beverages industry. Zevia's products are plant-based, contain no artificial sweeteners, and are Non-GMO Project verified, gluten-free, Kosher, and vegan. The company offers a variety of product lines, including soda, energy drinks, organic tea, mixers, Kidz beverages, and sparkling water. Zevia employs an asset-light business model, focusing on brand development and distribution while outsourcing production to third-party co-manufacturers.

Zevia PBC's market presence is primarily in North America, with the United States and Canada accounting for over 95% of sales by late 2025. California represented an estimated 18% of U.S. sales in 2025. The company expanded its domestic growth in 2025 into the Sun Belt and Midwest regions through mass-retailer distribution. Canada holds approximately a 15% share of the natural soda segment. Zevia products are distributed in over 37,000 retail locations across the United States and Canada through various channels, including grocery distributors, national retailers, warehouse clubs, natural products retailers, and e-commerce.

Zevia PBC focused on strengthening its brand and engaging consumers, but also faced a legal notice regarding product contents. Zevia has actively engaged consumers through marketing initiatives and introduced new on-trend fruity flavors. Zevia received Notices of Violation under California's Proposition 65 in August and September 2024, alleging that certain Zevia beverage products contained lead and/or mercury.

The ownership structure of Zevia PBC is a mix of institutional, insider, and public investors. Institutional investors hold approximately 52.81% to 55% of the company's stock, with CDPQ being the largest shareholder. Insiders own approximately 31.97% to 40.70% of the stock, including pre-IPO investors and the CEO. Public companies and individual investors hold approximately 5.79% to 25% of the company's stock.