Vita Coco Q1 Sales Up 37% to $180M, Raises 2026 Guidance to $735M
Vita Coco reported Q1 net sales of $180M, up 37% y/y, with coconut water sales rising 42% and adjusted EBITDA climbing to $39M. The company raised full-year guidance to $720–735M in net sales and $132–138M in EBITDA, while repurchasing $12M of shares in the quarter.
1. Strong Q1 Financial Performance
Vita Coco achieved net sales of $180 million in Q1, a 37% increase driven by a 42% rise in coconut water volume and improved pricing. Gross profit rose to $72 million with a 40% margin, net income climbed to $30 million ($0.50 per diluted share), and non-GAAP adjusted EBITDA reached $39 million.
2. Balance Sheet Strength and Share Repurchase
The Company remains debt-free with $202 million in cash and cash equivalents and lowered inventory to $86 million. During Q1, it repurchased $12 million of common stock, bringing year-to-date buybacks to $20 million with $21 million remaining under the $65 million authorization.
3. Raised Full-Year 2026 Guidance
Full-year net sales are now projected at $720–735 million (previously $680–700 million) and adjusted EBITDA at $132–138 million (prior $122–128 million). The outlook assumes a 38% gross margin and high single-digit SG&A expense growth driven by continued branded growth and margin improvements.