Zevia PBC (ZVIA)
NYSE:ZVIA
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Zevia PBC
(NYSE:ZVIA)
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Rating:46Neutral
Price Target:
$1.00
▼(-16.67% Downside)
Action:ReiteratedDate:02/26/26
The score is held back primarily by weak financial performance (ongoing losses, negative free cash flow, and declining equity) and bearish technicals (below major moving averages with negative MACD). These are partially offset by improving operating trends and constructive 2026 guidance targeting mid-single-digit growth and near-breakeven adjusted EBITDA, though tariff and mix headwinds remain meaningful.
Positive Factors
Gross Margin Expansion
Sustained gross margin expansion to ~48% reflects durable improvements in product costing and inventory management. Higher gross profitability provides structural leverage to fund marketing and absorb input cost shocks, making the path to sustained operating profitability more attainable if trends persist.
Negative Factors
Negative Cash Flow
Persistent negative operating and free cash flow, despite improvement, means the business is not yet self-funding. Continued cash burn can force reliance on external financing, constrain strategic investments, and reduce flexibility to withstand prolonged cost or revenue shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross Margin Expansion
Sustained gross margin expansion to ~48% reflects durable improvements in product costing and inventory management. Higher gross profitability provides structural leverage to fund marketing and absorb input cost shocks, making the path to sustained operating profitability more attainable if trends persist.
Read all positive factors
Zevia PBC (ZVIA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$90.12M
Dividend YieldN/A
Average Volume (3M)599.00K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth6.17%
EPS Growth41.09%
CountryUS
Employees108
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)-0.02
Shares Outstanding67,486,640
10 Day Avg. Volume591,337
30 Day Avg. Volume598,997
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)3.00
Price to Sales (P/S)0.95
P/FCF Ratio-30.57
Enterprise Value/Market Cap0.62
Enterprise Value/Revenue0.35
Enterprise Value/Gross Profit0.73
Enterprise Value/Ebitda-6.60
Forecast
1Y Price Target
$3.94Price Target Upside228.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$174.13M
Zevia PBC Business Overview & Revenue Model
Company Description
Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. Th...
How the Company Makes Money
Zevia primarily makes money by selling finished beverage products to retail and distribution customers (wholesale revenue). Revenue is generated when Zevia ships product to customers such as grocery, mass, club, convenience, natural products retai...
Zevia PBC Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive tone: the company returned to growth in 2025, materially improved profitability metrics (narrowed net loss and adjusted EBITDA), expanded distribution (national Walmart presence and Costco rotation), and launched successful product innovations and marketing campaigns. Management provided confident 2026 guidance targeting mid-single-digit top-line growth and near-breakeven adjusted EBITDA, supported by continued marketing investment and the final tranche of productivity savings. Key risks include an immediate aluminum tariff headwind (~$5M), a planned tea discontinuation reducing growth by ~1–1.5 points, near-term margin dilution from club programs (Costco) and sensitivity to retailer reset timing. Overall, positives — revenue growth, improved margins for the year, distribution and product momentum, stronger liquidity and actionable guidance toward profitability — outweigh the headwinds described.Positive Updates
Return to Growth and Improved Full-Year Financials
Full year 2025 net sales grew 4% to $161.3 million. Net loss improved to $11.1 million from $23.8 million in 2024, and adjusted EBITDA loss narrowed materially to negative $4.7 million (versus -$15.2M in 2024), reflecting a significant year-over-year improvement in profitability.
Negative Updates
Q4 Revenue Decline and Timing Shifts
Net sales in Q4 2025 decreased 4% to $37.9 million, driven by lapping prior year expanded Walmart sell-in and a timing shift of Costco rotations from Q4 into Q1, which diluted Q4 results and shifted volume cadence into 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Return to Growth and Improved Full-Year Financials
Full year 2025 net sales grew 4% to $161.3 million. Net loss improved to $11.1 million from $23.8 million in 2024, and adjusted EBITDA loss narrowed materially to negative $4.7 million (versus -$15.2M in 2024), reflecting a significant year-over-year improvement in profitability.
Read all positive updates
Company Guidance
Zevia guided 2026 net sales of $169–$173 million (about 6% growth at the midpoint versus 2025), noting the planned discontinuation of its tea line will reduce growth by ~1–1.5 percentage points and that volumes will be weighted toward Q1 and Q3; Q1 net sales are forecast at $40–$42 million. Profitability guidance calls for full‑year adjusted EBITDA between a $1.0 million loss and $0.5 million profit, with Q1 adjusted EBITDA expected to be a $1.6–$1.9 million loss; gross margin is expected in the mid‑40% range in Q1 and to improve to the high‑40% range beginning in Q2 (barring further aluminum cost increases). The plan reflects an incremental $5 million of tariff‑related aluminum costs beginning in Q2, realization of the final $5 million of productivity savings toward the end of Q2, price increases effective in Q2 (assumed elasticity ~1.1), and marketing investment of roughly 12–13% of revenue in 2026.Zevia PBC Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 161.26M | 155.05M | 166.42M | 163.18M | 138.17M |
| Gross Profit | 76.55M | 71.93M | 74.76M | 70.02M | 63.94M |
| EBITDA | -10.24M | -20.19M | -27.33M | -46.52M | -86.43M |
| Net Income | -10.08M | -20.00M | -21.49M | -33.86M | -47.90M |
Balance Sheet | |||||
| Total Assets | 63.62M | 67.95M | 90.86M | 98.93M | 124.99M |
| Cash, Cash Equivalents and Short-Term Investments | 25.35M | 30.65M | 31.95M | 47.40M | 73.11M |
| Total Debt | 668.00K | 1.31M | 1.95M | 715.00K | 237.00K |
| Total Liabilities | 28.02M | 25.01M | 29.09M | 17.15M | 20.43M |
| Stockholders Equity | 51.04M | 64.88M | 89.88M | 109.95M | 128.48M |
Cash Flow | |||||
| Free Cash Flow | -5.01M | -1.30M | -17.90M | -23.70M | -20.95M |
| Operating Cash Flow | -4.70M | -1.02M | -16.27M | -21.11M | -17.81M |
| Investing Cash Flow | -307.00K | -283.00K | 805.00K | 27.41M | -33.14M |
| Financing Cash Flow | -289.00K | 0.00 | 25.00K | -2.01M | 79.12M |
Zevia PBC Technical Analysis
Negative
1.20
Price Trends
1.50
Negative
1.94
Negative
2.36
Negative
Market Momentum
-0.09
Negative
38.17
Neutral
37.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZVIA, the sentiment is Negative. The current price of 1.2 is below the 20-day moving average (MA) of 1.24, below the 50-day MA of 1.50, and below the 200-day MA of 2.36, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 38.17 is Neutral, neither overbought nor oversold. The STOCH value of 37.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ZVIA.
Zevia PBC Risk Analysis
Zevia PBC disclosed 55 risk factors in its most recent earnings report. Zevia PBC 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
Zevia PBC Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $2.75B | 42.30 | 23.19% | ― | 23.12% | 16.20% | |
69 Neutral | $3.16B | 19.35 | 35.99% | ― | 0.97% | 0.36% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
52 Neutral | $44.72M | -47.82 | -151.77% | ― | 17.48% | 0.77% | |
47 Neutral | $320.68M | -2.13 | -241.39% | ― | 3.37% | 46.17% | |
46 Neutral | $90.12M | -28.32 | -19.06% | ― | 6.17% | 41.09% |
* Consumer Defensive Sector Average
ZVIA
Zevia PBC
1.20
-0.88
-42.31%
FIZZ
National Beverage
33.75
-8.95
-20.96%
BRFH
Barfresh Food Group
2.80
-0.10
-3.45%
OTLY
Oatly Group
10.27
1.36
15.26%
COCO
Vita Coco Company
48.24
20.30
72.66%
Zevia PBC Corporate Events
Business Operations and StrategyExecutive/Board Changes
Zevia PBC Adds Experienced Consumer Marketer to Board
Positive
Jan 7, 2026
On January 7, 2026, Zevia PBC appointed Suzanne Ginestro, Chief Marketing Officer of Califia Farms, as an independent Class II director effective immediately, adding her to the Board’s Compensation Committee and positioning the company to be...
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.