Jones Soda 2022 Revenue Grows 29% To $19.1M, What About Adjusted EBITDA?

Jones Soda Co. JSDA JSDA revenue in 2022 increased 29% to $19.1 million compared to $14.8 million.

Q4 2022 Financial Higlihts vs. Year-Ago Quarter

• Revenue increased 28% to $3.7 million compared to $2.9 million.

• Gross profit as a percentage of revenue was 24.8% compared to 26.5%.

• Net loss was $1.6 million, or $0.02 per share, compared to a net loss of $1.3 million, or $0.02 per share.

• Adjusted EBITDA was negative $1.3 million compared to negative $1.2 million.

Full Year 2022 Financial Summary vs. Prior Year

• Gross profit as a percentage of revenue was 26.9% compared to 29.7%.

• Net loss was $6.4 million or $0.07 per share, compared to a net loss of $1.8 million, or $0.03 per share.

• Adjusted EBITDA was negative $4.6 million compared to negative $1.3 million.

“We delivered our 10^th consecutive quarter of year-over-year revenue growth as we completed the second year of our three-year turnaround strategy," stated Mark Murray, president and CEO of Jones Soda. "2022 was another notable year in which we made our successful entry into the cannabis market with our Mary Jones brand and continued market share gains in our core soda business with the addition of outstanding new partners across all of our distribution channels. Despite facing challenges posed by inflationary pressures, we stayed laser-focused on expanding our points of distribution, optimizing cost management, and strategically allocating our trade and marketing dollars. We believe this disciplined approach has enabled us to capitalize on growth opportunities despite volatility in the broader consumer market.

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Photo: Benzinga edit with photo by Michael Veronneau on Unsplash