Zevia PBC (ZVIA)
NYSEConsumer StaplesBeverages - Non-alcoholicSnapshot 2026-09-04
$1.370.00%
Close 2026-09-04 · 1-day change
NYSEConsumer StaplesBeverages - Non-alcoholicSnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Zevia aims for $170M-$175M revenue in 2026. Gross profit rose from $18M to $22M last quarter. Operating loss improved from -$2.87M to -$2.37M. The company is growing sales and cutting losses.
Zevia is still losing money with a $2M-$4M loss target in 2026. Revenue growth is slow at about 6%. The company may not reach profitability soon.
The price is about 22% below our fair value near $2. Analysts expect 5.7% revenue growth. Our view aligns with moderate growth but loss-making status.
Breaks if: Loss exceeds -$4M in FY26
Target adjusted EBITDA loss between $2.0 million and $4.0 million for the full year 2026 to improve profitability.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story with a focus on improving revenue and margins. Currently, the thesis is in a watch state due to recent weak financial performance compared to peers.
The market appears to price ZVIA as cheap compared to its peers, with a slight expectations gap indicating that investors may not fully anticipate the challenges ahead. The valuation reflects a justified assessment given the company's ongoing losses.
Management is on track to increase revenue and improve gross profit margins, but the adjusted EBITDA remains a loss, indicating mixed results. Recent financial performance has been weak, which poses a risk to achieving future targets.
The thesis hinges on management's ability to meet revenue and margin targets, as well as external factors like inflation and performance of sector leaders. A cut in guidance could negatively impact sentiment, while favorable trends in the sector could provide support.
The most important moves since the prior daily snapshot.
Yes, our read has weakened. The latest earnings miss negatively impacts the outlook. Management is also facing pressure from an activist investor. This call may disrupt their strategic plans.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. Adjusted EBITDA improved from a loss of $3.3 million in 2025-Q1 to positive $0.5 million in 2026-Q2. Management continues to target an adjusted EBITDA loss between $2.0 million and $4.0 million for 2026. The trajectory shows improvement but remains a loss within the guided range.
“For the full year 2026, the Company continues to expect an adjusted EBITDA loss of between $2.0 million and $4.0 million.”
“For the full year 2026, the Company now expects an adjusted EBITDA loss of between $2.0 million and $4.0 million.”
“For the full year 2026, the Company expects an adjusted EBITDA range from a loss of $1.0 million to positive $0.5 million.”
Breaks if: Gross profit falls below $18M next quarter
Focus on improving gross profit margins through pricing actions and cost management despite commodity cost pressures.
Stated as a priority in 2 of last 3 quarters. Gross profit margin improved slightly from 48.7% in 2025-Q2 to 48.9% in 2026-Q2, reflecting pricing actions offset by higher aluminum costs. The trajectory shows modest improvement consistent with management's focus.
“Gross profit margin was 48.9%, an improvement of 0.2 percentage points year over year.”
“Gross profit margin was 48.4%, a reduction of 1.7 percentage points year over year.”
Breaks if: Revenue falls below $162M in FY26
Continue to grow net sales to reach $170 million to $175 million for the full year 2026.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $38.0 million in 2025-Q1 to $45.0 million in 2026-Q2. Management has consistently guided full year 2026 net sales between $170 million and $175 million. The trajectory is delivering steady growth aligned with this target.
“For the full year 2026, the Company continues to expect net sales to be in the range of $170 million to $175 million.”
“For the full year 2026, the Company now expects net sales to be in the range of $170 million to $175 million.”
“For the full year 2026, the Company expects net sales to be in the range of $169 million to $173 million.”
Over the next 1 to 3 years, ZVIA's performance will depend on both internal execution and broader market conditions. Not investment advice.