Splash Beverage Group (SBEV)
XASE:SBEV
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Splash Beverage Group
(NYSE MKT:SBEV)
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Rating:40Underperform
Price Target:
$0.23
▼(-69.18% Downside)
Action:Downgraded
Date:05/15/26
The score is driven primarily by very weak financial performance (sharp TTM revenue contraction, ongoing operating losses, and continued cash burn) and a fragile, highly levered balance sheet with dilution/refinancing risk. Technicals also reflect a sustained downtrend (price below all key moving averages with negative MACD). Corporate events provide some strategic upside via the Medterra pivot, but are outweighed by listing-compliance and funding-related risks; valuation metrics are not meaningfully supportive due to a negative P/E and no dividend yield provided.
Positive Factors
Strategic Merger Opportunity
A completed Medterra merger would add a profitable, scaled business (>$52M revenue, ~2M customers), materially expanding Splash’s revenue base and TAM into cannabinoid wellness. That structural revenue and customer footprint could restore equity, diversify cash flow and improve long-term financing access if integration succeeds.
Negative Factors
Severe Revenue Decline & Weak Margins
The legacy beverage business currently lacks scale and consistent profitability: a near-total revenue collapse and deeply negative margins undermine operating leverage. Structural recovery requires sustained volume growth or new, sizable revenue streams; absent that, profitability remains unattainable and cash requirements persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Merger Opportunity
A completed Medterra merger would add a profitable, scaled business (>$52M revenue, ~2M customers), materially expanding Splash’s revenue base and TAM into cannabinoid wellness. That structural revenue and customer footprint could restore equity, diversify cash flow and improve long-term financing access if integration succeeds.
Read all positive factors
Splash Beverage Group (SBEV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.18M
Dividend YieldN/A
Average Volume (3M)3.65M
Price to Earnings (P/E)―
Beta (1Y)2.03
Revenue Growth-83.63%
EPS Growth65.38%
CountryUS
Employees32
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)-10.45
Shares Outstanding10,964,788
10 Day Avg. Volume5,591,683
30 Day Avg. Volume3,647,912
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.57
Price to Sales (P/S)20.58
P/FCF Ratio-0.31
Enterprise Value/Market Cap2.99
Enterprise Value/Revenue-17.83
Enterprise Value/Gross Profit-34.10
Enterprise Value/Ebitda-0.53
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-13.2
Revenue Forecast (FY)$17.89M
Splash Beverage Group Business Overview & Revenue Model
Company Description
Splash Beverage Group, Inc. engages in the manufacturing, distribution, marketing, and sale of various beverages in the United States. Its products include flavored tequilas under the SALT Naturally Flavored Tequila name; hydration and recovery is...
How the Company Makes Money
Splash Beverage Group primarily makes money by selling branded beverage products to distributors, retailers, and other channel partners. Its key revenue stream is product sales generated from its portfolio of beverage brands, which are produced (v...
Splash Beverage Group Earnings Call Summary
Earnings Call Date:Nov 25, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 25, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant improvements in gross margins and distribution expansion, along with substantial capital raising efforts and promising acquisition opportunities. However, persistent liquidity challenges and legal issues with ABG TapouT, coupled with a notable net loss, underscore ongoing financial hurdles.Positive Updates
Improved Gross Margins
Q3 2024 gross margins increased to 30%, up from 23% in Q2 2024 and 11% in Q1 2024, driven by strategic sourcing and lower wine costs.
Negative Updates
Liquidity Challenges
Ongoing liquidity issues impacting inventory and sales, with net sales of $381,000 in Q3 2024, down from over $1 million in Q2 2024.
Read all updates
Q3-2024 Updates
Positive
Negative
Improved Gross Margins
Q3 2024 gross margins increased to 30%, up from 23% in Q2 2024 and 11% in Q1 2024, driven by strategic sourcing and lower wine costs.
Read all positive updates
Company Guidance
During the Q3 2024 earnings call for Splash Beverage Group, CEO Robert Nistico provided comprehensive guidance on the company's financial and strategic outlook. Key highlights included a significant improvement in gross margins, which rose to 30% from 23% in Q2 and 11% in Q1, driven by strategic sourcing programs and a reduction in SG&A expenses by $500,000 from the previous quarter. Despite liquidity challenges, the company managed to raise approximately $8 million since August 2024 to support working capital and potential acquisitions. CFO Julius Ivancsits reported Q3 net sales of $381,000, a slight decline from Q2, attributed to inventory limitations. However, the gross margin saw an increase of $244,000 from Q2, reaching $981,000 in Q3, supported by the restart of the Qplash resale business, which boasts a gross margin of 59%. Operating expenses decreased by $1 million, contributing to an improved EBITDA loss of $1.7 million, a $2 million improvement from Q3 2023. The company's liquidity remained tight, with a cash balance of $457,000 at the end of Q3. Looking forward, Splash anticipates positive cash flow and EBITDA by Q3 2025, bolstered by distribution expansions and strategic acquisitions, including an energy drink company with projected growth of over 30%.Splash Beverage Group Financial Statement Overview
Summary
Income Statement
7
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
9
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -365.21K | 73.07K | 4.16M | 18.85M | 18.09M | 11.32M |
| Gross Profit | -190.94K | -11.66M | 355.45K | 5.57M | 5.92M | 2.58M |
| EBITDA | -12.19M | -14.19M | -15.84M | -14.76M | -20.45M | -28.67M |
| Net Income | -21.58M | -25.23M | -23.76M | -21.00M | -21.84M | -29.05M |
Balance Sheet | ||||||
| Total Assets | 769.95K | 965.69K | 2.76M | 9.90M | 17.30M | 16.39M |
| Cash, Cash Equivalents and Short-Term Investments | 381.19K | 281.44K | 15.35K | 379.98K | 4.43M | 4.18M |
| Total Debt | 6.31M | 6.67M | 12.55M | 9.35M | 4.37M | 5.04M |
| Total Liabilities | 857.00 | 6.39K | 21.39M | 15.50M | 7.98M | 7.51M |
| Stockholders Equity | 769.10K | 959.30K | -18.63M | -5.61M | 9.32M | 8.87M |
Cash Flow | ||||||
| Free Cash Flow | -2.13M | -4.79M | -8.01M | -10.20M | -14.20M | -15.13M |
| Operating Cash Flow | -2.13M | -4.79M | -8.00M | -10.19M | -14.09M | -15.13M |
| Investing Cash Flow | 0.00 | 0.00 | -3.23K | -14.11K | -102.70K | 0.00 |
| Financing Cash Flow | 364.84K | 5.10M | 7.54M | 6.15M | 14.45M | 18.93M |
Splash Beverage Group Technical Analysis
Negative
0.73
Price Trends
0.33
Negative
0.48
Negative
1.07
Negative
Market Momentum
-0.04
Negative
30.19
Neutral
16.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBEV, the sentiment is Negative. The current price of 0.73 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.33, and below the 200-day MA of 1.07, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 30.19 is Neutral, neither overbought nor oversold. The STOCH value of 16.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SBEV.
Splash Beverage Group Risk Analysis
Splash Beverage Group disclosed 42 risk factors in its most recent earnings report. Splash Beverage Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Splash Beverage Group Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $2.16B | 9.05 | 7.53% | 2.53% | 0.23% | -28.74% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | $8.04B | 13.44 | -19.15% | 4.08% | -1.30% | -312.85% | |
52 Neutral | $1.91B | ― | -7.30% | ― | -4.69% | -204.08% | |
40 Underperform | $2.18M | ― | ― | ― | -83.63% | 65.38% |
* Consumer Defensive Sector Average
SBEV
Splash Beverage Group
0.19
-3.40
-94.68%
SAM
Boston Beer
186.03
-47.94
-20.49%
CCU
Compania Cervecerias Unidas SA
11.73
-1.90
-13.95%
TAP
Molson Coors
42.53
-9.69
-18.56%
YHC
LQR House
0.92
-0.46
-33.55%
IBG
Innovation Beverage Group Ltd.
0.86
-16.37
-95.01%
Splash Beverage Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
Splash Beverage names interim CEO amid cannabis pivot
Positive
May 15, 2026
On May 9, 2026, Splash Beverage Group appointed director Brady Cobb as Interim Chief Executive Officer and principal executive officer, marking a leadership change toward a wellness and cannabinoid‑focused growth strategy. Cobb brings extens...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Splash Beverage Faces NYSE Noncompliance Amid Capital Changes
Negative
May 5, 2026
On April 28, 2025, Splash Beverage Group borrowed and repaid a $30,000 loan that included an equity option for DMF Ventures, and on May 27, 2025, it raised $200,000 via Series A-1 Convertible Preferred Stock sold to investor Kevin Digmann, issuing...
Business Operations and StrategyExecutive/Board Changes
Splash Beverage Group Adds Veteran Executive to Board
Positive
Apr 27, 2026
On April 27, 2026, Splash Beverage Group appointed veteran executive Francis Knuettel II to its board of directors, effective immediately, adding a director with extensive CXO experience in early-stage public technology and life sciences companies...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Splash Beverage Reshapes Board, Retains Nistico as Consultant
Negative
Apr 24, 2026
On April 20, 2026, Splash Beverage Group amended prior settlement agreements with three investors relating to disputed October 2024 investments, extending the due date for remaining settlement payments of $535,595 to June 1, 2026, adding 12% inter...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Splash Beverage Announces Planned Merger With Medterra CBD
Positive
Mar 12, 2026
On March 4, 2026, Splash Beverage Group entered into a letter of intent with Medterra CBD for a potential merger valuing Medterra at $37.6 million, to be paid in approximately 75.2 million shares assuming repayment of its $10.4 million debt. The d...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Splash Beverage Plans Medterra CBD Merger to Refocus Strategy
Positive
Mar 5, 2026
On March 5, 2026, Splash Beverage Group announced it had signed a non-binding letter of intent to merge with Medterra CBD, a profitable, federally compliant cannabinoid wellness company that generated more than $52 million in revenue in fiscal 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.