Zevia sees Q1 revenue $36M-$38M, consensus $40.75M

For the first quarter of 2025, the Company expects net sales to be in the range of $36M to $38M , and an adjusted EBITDA loss of between $5.6 M and $6M . The net sales guidance reflects the impacts of the aforementioned lost distribution in our club channel and one customer in our mass channel. Adjusted EBITDA reflects planned reinvestment in marketing spend, particularly in the first and third quarters of 2025. We have not provided the forward-looking GAAP equivalent to our Adjusted EBITDA outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation, income tax, and charges associated with restructuring and cost saving initiatives, including but not limited to severance costs, warehouse/distribution facility exit costs, and asset impairments.