Strong Revenue Growth
Revenue rose 47% year-over-year to $7.9 million, exceeding the $7.8 million guidance, driven by balanced growth in the VINIA business.
Increase in Gross Margin
Gross margins improved by 227 basis points to 58.5%, up from 56.2% a year ago, driven by the benefits of scale and cost efficiencies.
Growth in Active Subscribers
Total active subscribers exceeded 50,000, with recurring subscribers comprising 90% of revenue on the vinia.com platform.
Successful Product Expansion
Launched VINIA SuperFood Tea lineup and VINIA SuperFood Coffee, with plans to introduce new SKUs and expand into the hydration beverage category.
Progress in CDMO Division
Completed Stage 1 of development for a major CDMO program with a NASDAQ-listed pharmaceutical partner, and the partnership with Tate & Lyle for next-generation sweeteners.
Financial Resilience
Net losses decreased significantly to $2.3 million from $6.6 million in the same quarter last year.