In Q4, Zevia reported net sales of $37.9 million, down 4% year over year. Gross margin was 47.7%, a 150 basis point decline, while net loss improved to $1.3 million from $6.8 million and adjusted EBITDA reached break-even at $50,000, benefiting from lower promotional spend and a timing shift in Costco rotation.

For full-year 2025, net sales rose 4% to $161.3 million and gross margin expanded to 48%. Net loss narrowed to $11.1 million from $23.8 million the prior year, and the adjusted EBITDA loss improved to $4.7 million from $15.2 million, driven primarily by expanded Walmart distribution and improved inventory management.

Management emphasized three strategic pillars: amplified marketing with campaigns targeting natural soda positioning, product innovation featuring new flavors like Strawberry Lemon Burst and national rollout of Orange Creamsicle, and distribution expansion through nationwide Costco placement, increased shelf space at Albertsons, and accelerated e-commerce growth.

Zevia guided to net sales of $169 million to $173 million for 2026, implying roughly 6% growth. The outlook incorporates the planned discontinuation of its tea line, expected to reduce growth by 1–1.5 points, and anticipates higher aluminum tariff costs beginning in the second quarter.