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Cision Canada
15-05-2025
- Business
- Cision Canada
Jones Soda Reports First Quarter 2025 Results
SEATTLE, May 15, 2025 /CNW/ - Jones Soda Co. (CSE: JSDA) (OTCQB: JSDA) ("Jones Soda" or the "Company"), today announced its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Summary vs. Year-Ago Quarter Revenue was $4.6 million compared to $5.0 million. The Company also generated $0.4 million in revenue from the Cannabis (THC) segment, consistent with approximately $0.4 million in the first quarter of 2024 Net loss decreased to $0.9 million, or $(0.01) per share, compared to a net loss of $1.2 million, or $(0.01) per share. Adjusted EBITDA 1 improved 39% to $(0.6) million compared to $(1.0) million. This was primarily due to a reduction in selling, general, and administrative expenses associated with the new cost management strategies implemented by management and was partially offset by the decline in revenue. _____________________________________________________ 1 Adjusted EBITDA is defined as net income (loss) from operations before interest expense, interest income, taxes, depreciation, amortization and stock-based compensation and is a non-GAAP measure (reconciliation provided below). First Quarter 2025 and Recent Activity Update Corporate Announced the hiring of proven business executives Scott Harvey and Brian Meadows to serve as the Company's new Chief Executive Officer and Chief Financial Officer, respectively. Secured a $5 million revolving credit facility in February 2025 to support strategic initiatives for expansion and sales growth. Reduced both selling and marketing and general and administrative expenses by 20%, with no apparent productivity dilution, a testament to new management's dedication to operational rigor. Beverages Segment Announced in April that Pop Jones, is now featured in Modern Beverage POGs across over 1500 national and regional chain stores. Launched Jones Zero Cola in March across 10,000+ national and regional grocery stores, with plans to introduce additional zero-calorie flavors, including Jones Zero Root Beer and Zero Dr. Jones, later in 2025. Development of a strategic plan that calls for an increased focus on HD9 product opportunities and a review of the strategic alternatives for the Company's Cannabis THC business. HD9 sales were $0.9 million representing our fourth consecutive quarter of HD9 sales expansion. Cannabis (THC) Segment Expanded to Missouri, the country's fifth largest legal cannabis market, through a manufacturing and distribution partnership with Kansas City-based CLOVR. Management Commentary "The first quarter of 2025 was the beginning of the strategic turnaround for Jones, and we are off to a good start" said Scott Harvey, CEO of Jones Soda. "Since stepping into leadership in February, we've moved quickly to implement meaningful improvements across key areas of the business. We optimized our supply chain operations, tightened P&L oversight, and instilled disciplined cost management measures which have already begun to yield significant results. These early actions reflect our commitment to operational rigor and set the stage for continued momentum in the quarters ahead. "We remain focused on executing our strategic plan with clear, measurable goals to scale the business while preserving the beloved Jones brand and image. We have leaned into unlocking more efficiencies across our three main categories – Core Soda, Modern Soda, and Adult Beverage - through investing in high-growth opportunities and managing our cost structure with disciplined, ROI-driven decisions. These initiatives represent a commitment to rebuilding sound economic discipline, ensuring SG&A and other costs don't undermine our expansion. With strong industry momentum and the right team in place, the future is bright for Jones." First Quarter 2025 Financial Results Revenue in the first quarter of 2025 was $4.6 million compared to $5.0 million in the prior year period. The decline in revenue was primarily attributable to a large one-time pipeline fill in the first quarter of 2024. The Company's beverages segment, which includes craft soda, HD9, Pop Jones and Fiesta Jones brands, generated approximately $4.2 million in revenue in the first quarter of 2025 compared to approximately $4.6 million in revenue in the first quarter of 2024, including $0.9 million from sales of its HD9 products in the first quarter of 2025. The Company's Cannabis (THC) segment, which includes Mary Jones branded cannabis products, generated approximately $380,000 in revenue in the first quarter of 2025 compared to approximately $410,000 in revenue in the first quarter of 2024. Gross profit for the first quarter of 2025 was $1.7 million compared to $1.9 million in the year-ago period. The decline was primarily driven by the lower sales revenue. Total operating expenses in the first quarter of 2025 were $2.4 million compared to $3.0 million in the year-ago period. The decrease was primarily a result of the rigorous cost management and supply chain optimization efforts by new management in their first months. Net loss decreased to $0.9 million, or $(0.01) per share, compared to a net loss of $1.2 million, or $(0.01) per share. The decrease in net loss was primarily driven by the decline in selling, general, and administrative expenses and were partially offset by the decrease in revenue. Adjusted EBITDA 2 improved 39% to $(0.6) million in the first quarter of 2025 compared to $(1.0) million in the prior period. ______________________________ 2 Adjusted EBITDA is defined as net income (loss) from operations before interest expense, interest income, taxes, depreciation, amortization and stock-based compensation and is a non-GAAP measure (reconciliation provided below). Conference Call Jones Soda will hold a conference call today at 4:30 p.m. Eastern time to discuss its results for the first quarter ended March 31, 2025. Chief Executive Officer Scott Harvey and Chief Financial Officer Brian Meadows will host the conference call. Date: Thursday, May 15, 2025 Time: 9:00 a.m. Eastern time (6:00 a.m. Pacific time) Toll-free dial-in number: 1-877-407-0784 International dial-in number: 1-201-689-8560 Conference ID: 13752687 Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860. The conference call will be broadcast live and available for replay here and via the investor relations section of the Company's website at A replay of the conference call will be available after 11:30 a.m. Eastern time on the same day through April 15, 2025. Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 13752687 Presentation of Non-GAAP Information This press release contains disclosure of the Company's Adjusted EBITDA which is not a United States Generally Accepted Accounting Principle ("GAAP") financial measure. The difference between Adjusted EBITDA (a non-GAAP measure) and Net Loss (the most comparable GAAP financial measure) is the exclusion of interest expense and income, income tax expense, depreciation and amortization expense and stock-based compensation. We have included a reconciliation of Adjusted EBITDA to Net Loss under "Jones Soda Co. Non-GAAP Reconciliation" at the end of this press release. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP. Adjusted EBITDA has certain limitations in that it does not take into account the impact of certain expenses to our consolidated statements of operations. In addition, because Adjusted EBITDA may not be calculated identically by all companies, the presentation here may not be comparable to other similarly titled measures of other companies. We believe that Adjusted EBITDA provides useful information to investors about the Company's results attributable to operations, in particular by eliminating the impact of non-cash charges related to stock-based compensation, amortization and depreciation that is consistent with the manner in which management evaluates the Company's performance. These adjustments to the Company's GAAP results are made with the intent of providing a more complete understanding of the Company's underlying operational results and provide supplemental information regarding the Company's current ability to generate cash flow. Adjusted EBITDA is not intended to be considered in isolation or as a replacement for, or superior to Net Loss as an indicator of the Company's operating performance, or cash flow, as a measure of its liquidity. Adjusted EBITDA should be reviewed in conjunction with Net Loss as calculated in accordance with GAAP. About Jones Soda Co. Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading craft soda manufacturer with a subsidiary dedicated to cannabis products. The company markets and distributes premium craft sodas under the Jones® Soda brand, and a variety of cannabis products under the Mary Jones brand. Jones' mainstream soda line is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. The company is headquartered in Seattle, Washington. For more information, visit or Forward-Looking Statements Disclosure Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all passages containing words such as "will," "aims," "anticipates," "becoming," "believes," "continue," "estimates," "expects," "future," "intends," "plans," "predicts," "projects," "targets," or "upcoming." Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Factors that could affect the Company's actual results, including its financial condition and results of operations, include, among others: its ability to successfully execute on its growth strategies and operating plans for the future;; the Company's ability to continue to develop and market THC/CBD-infused and/or cannabis-infused beverages and edibles, and comply with the laws and regulations governing cannabis, hemp or related products, and the timing and costs of the development of these new product lines; the Company's ability to manage operating expenses and generate sufficient cash flow from operations; the Company's ability to create and maintain brand name recognition and acceptance of its products; the Company's ability to adapt and execute its marketing strategies; the Company's ability to compete successfully against much larger, well-funded, established companies currently operating in the beverage industry generally and in the craft beverage segment specifically; the Company's ability to respond to changes in the consumer beverage marketplace, including potential reduced consumer demand due to health concerns (including obesity) and legislative initiatives against sweetened beverages (including the imposition of taxes); its ability to develop and launch new products and to maintain brand image and product quality; the Company's ability to maintain and expand distribution arrangements with distributors, independent accounts, retailers or national retail accounts; its ability to manage inventory levels and maintain relationships with manufacturers of its products; its ability to maintain a consistent and cost-effective supply of raw materials and flavors and to manage factors affecting its supply chain; its ability to attract, retain and motivate key personnel; its ability to protect its intellectual property; the impact of future litigation and the Company's ability to comply with applicable regulations; its ability to maintain an effective information technology infrastructure, fluctuations in freight and fuel costs; the impact of currency rate fluctuations; its ability to access the capital markets for any future equity financing; the Company's ability to maintain disclosure controls and procedures and internal control over financial reporting; dilutive and other adverse effects from future potential securities issuances; and any actual or perceived limitations by being traded on the OTCQB Marketplace. More information about factors that potentially could affect the Company's operations or financial results is included in its most recent annual report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission ("SEC") on April 1, 2024 and in the other reports filed with the SEC since that that date. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Except as required by law, the Company undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.
Yahoo
12-05-2025
- Business
- Yahoo
Jones Soda Sets First Quarter 2025 Conference Call for Thursday, May 15, 2025, at 4:30 p.m. ET
SEATTLE, May 12, 2025 (GLOBE NEWSWIRE) -- Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) ('Jones Soda' or the 'Company'), today announced it will hold a conference call on Thursday, May 15, 2025, at 4:30 p.m. Eastern time to discuss its financial and operational results for the first quarter ended March 31, 2025. The financial results will be reported in a press release prior to the conference call. Chief Executive Officer Scott Harvey and Chief Financial Officer Brian Meadows will host the conference call, followed by a question-and-answer period. Investors and analysts are encouraged to submit questions they would like management to address during the discussion via email to JSDA@ by Wednesday, May 14, 2025, at 5:00 p.m. Eastern time. During the question-and-answer period, management will respond to the appropriate and common themes submitted online. Date: Thursday, May 15, 2025Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)Toll-free dial-in number: 1-877-407-0784International dial-in number: 1-201-689-8560Conference ID: 13753797 Please call the conference telephone number five minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting to the call, please contact Gateway Group at 1-949-574-3860. The conference call will be broadcast live and available for replay here and via the investor relations section of the Company's website at A telephonic replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through May 29, 2025. Toll-free replay number: 1-844-512-2921International replay number: 1-412-317-6671Replay ID: 13753797 About Jones Soda Co. Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading craft soda manufacturer with a subsidiary dedicated to cannabis products. The company markets and distributes premium craft sodas under the Jones® Soda brand, and a variety of cannabis products under the Mary Jones brand. Jones' mainstream soda line is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. The company is headquartered in Seattle, Washington. For more information, visit or Company Contact:Brian MeadowsChief Financial Officer1-206-624-3357 Investor Relations Contact:Scott LioliosGateway Group, Inc.1-949-574-3860JSDA@
Yahoo
27-03-2025
- Business
- Yahoo
Jones Soda Sets Fourth Quarter and Full Year 2024 Conference Call for Tuesday, April 1, 2025, at 9:00 a.m. ET
SEATTLE, March 27, 2025 (GLOBE NEWSWIRE) -- Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) ('Jones Soda' or the 'Company'), today announced it will hold a conference call on Tuesday, April 1, 2025, at 9:00 a.m. Eastern time to discuss its financial and operational results for the fourth quarter and full year ended December 31, 2024. The financial results will be reported in a press release prior to the conference call. Chief Executive Officer Scott Harvey and Chief Financial Officer Brian Meadows will host the conference call, followed by a question-and-answer period. Investors and analysts are encouraged to submit questions they would like management to address during the discussion via email to JSDA@ by Friday, March 28, 2025, at 5:00 p.m. Eastern time. During the question-and-answer period, management will respond to the appropriate and common themes submitted online. Date: Tuesday, April 1, 2025Time: 9:00 a.m. Eastern time (6:00 a.m. Pacific time)Toll-free dial-in number: 1-877-407-0784International dial-in number: 1-201-689-8560Conference ID: 13752687 Please call the conference telephone number five minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting to the call, please contact Gateway Group at 1-949-574-3860. The conference call will be broadcast live and available for replay here and via the investor relations section of the Company's website at A telephonic replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through April 15, 2025. Toll-free replay number: 1-844-512-2921International replay number: 1-412-317-6671Replay ID: 13752687 About Jones Soda Co. Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading craft soda manufacturer with a subsidiary dedicated to cannabis products. The company markets and distributes premium craft sodas under the Jones® Soda brand, and a variety of cannabis products under the Mary Jones brand. Jones' mainstream soda line is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. The company is headquartered in Seattle, Washington. For more information, visit or Company Contact:Brian MeadowsChief Financial Officer1-206-624-3357 Investor Relations Contact:Cody CreeGateway Group, Inc.1-949-574-3860JSDA@ in to access your portfolio
Yahoo
05-02-2025
- Business
- Yahoo
Jones Soda Appoints New CEO Scott Harvey and CFO Brian Meadows
Experienced Executives Plan to Execute Strategic Plan Focused on Driving Profitable Growth SEATTLE, Feb. 5, 2025 /PRNewswire/ -- Jones Soda Co. ("Jones" or the "Company") (CSE: JSDA, OTCQB: JSDA) today announced the hiring of proven business executives Scott Harvey and Brian Meadows to serve as the Company's new Chief Executive Officer and Chief Financial Officer, respectively. Both are expected to be instrumental in implementing a strategic plan designed to generate profitable growth and transform Jones from a craft soda company into a full-fledged beverage company. "In the last three months we have adjusted our business plan to prioritize what we believe to be the most promising segments of our portfolio, including new products in our innovation pipeline. We are confident that we now have all the pieces in place to deliver high growth and profitable performance," said Paul Norman, Jones' Chairman of the Board of Directors who has served as Interim Chief Executive Officer and Chief Financial Officer since late 2024. "Both Scott and Brian have deep food and beverage experience, have successfully driven business transformation in their previous roles, and we believe will provide immediate hands-on value in implementing our strategy." "I'm impressed with the steps that Jones has taken to expand beyond its craft soda roots by adding new product lines and formats that I believe are aligned with the preferences of today's consumer," said Mr. Harvey. "I believe the Company's strategic plan provides a clear path to leveraging that foundation to achieve profitability, and I look forward to working with the team to put the plan into action." Scott Harvey most recently served as president of Dunn Brothers Coffee, a chain of coffee shops offering small-batch roast coffee in seven states. His 40-year career also includes top executive posts with Golden Krust Caribbean Bakery, Black Rifle Coffee Company, Nathan's Famous and Einstein Noah Restaurant Group, where his last position involved leading operations for 850 corporate, license and franchise restaurants. His achievements include orchestrating sustained revenue growth, aligning spending with growth objectives, and building high-performing cultures. He earned a B.S. in hotel and restaurant management from Johnson & Wales University. Brian Meadows has over 25 years of experience as a Chief Financial Officer and senior executive in CPG, food ingredients, telecommunications and other industries, including public companies. He most recently served as Chief Financial Officer for Simply Better Brands Corporation, where he helped guide the development and growth of that company's HERO brand TRUBARTM. He also has deep expertise in growth, cash flow and risk management as well as in both equity and debt capital raises, and extensive involvement in strategy and operations. He holds Certified Financials Analyst (CFA) and Certified Public Accountant (CPA) designations and earned an MBA from the University of Glasgow. Both appointments are effective immediately. Under the current strategic plan, Jones intends to concentrate on key new and legacy products in areas including modern soda, adult beverages and craft soda. In the craft soda category, the Company plans to emphasize newer formats such as its 7.5 oz Jones Minis and zero-sugar versions of its most popular flavors while also continuing to market its mainline 12 oz craft sodas, known for their unique flavors, pure cane sugar formulations, user-generated photo labels, and premium taste. In the modern soda category, the Company intends to emphasize Pop Jones, a family of all-natural, 30-calorie functional sodas with just 4 grams of sugar and generous fiber and immune support, and Fiesta Jones, a Latin-inspired collection developed for convenience stores with only 80 calories, no artificial colors or caffeine, and resealable aluminum bottles. In the adult beverage category, the Company expects to focus on Spiked Jones, a hard craft soda that combines six of Jones' classic pure cane sugar soda flavors with hard ciders, and Mary Jones Hemp Delta-9 (HD9) beverages, a line of hemp-derived THC-infused alcohol alternatives. Several of these product lines are included in the new distribution agreements covering 2,000 convenience stores that were announced last month, marking Jones' first significant presence in the convenience channel in its nearly 30-year history. About Jones Soda Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading developer of sodas and hemp-infused beverages known for their premium taste, unique flavors, and unconventional brand personality. Launched in 1996 as the original craft soda brand, the Company today markets a diverse portfolio of sodas, mixers, spiked soda, and wellness beverages under the Jones® Soda brand as well as a line of award-winning hemp beverages and edibles leveraging Jones' trademark flavors under the Mary Jones brand. For more information, visit or The CSE does not accept responsibility for the adequacy or accuracy of this release. NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Statements Regarding Forward‐Looking Information This news release may contain both forward‐looking information and forward-looking statements within the meaning of applicable securities legislation in both Canada and the United States, which reflect management's current expectations regarding future events. Such information and statements include, without limitation, information regarding the successful implementation of the Company's updated strategic plan and the focus on specific beverage product offerings. Although the Company believes that such information and statements are reasonable, it can give no assurance that such expectations will prove to be correct. Both forward‐looking information and forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward‐looking information or forward-looking statements provided by the Company are not a guarantee of future results or performance and that such forward‐looking information or forward-looking statements are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release including, without limitation, that the Company's management will be able to successfully implement the Company's updated strategic in the manner intended; that the Company will be able to successfully launch the products it intends to launch; that general business and economic conditions will not change in a material adverse manner; and assumptions regarding political and regulatory stability and stability in financial and capital markets. Forward‐looking statements also involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others: the risk that the Company may not be able execute on its strategic plan as intended or focus on the products it intends to focus on; the state of the financial markets for the Company's securities; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The forward‐looking statements contained in this news release are made as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward‐ looking statements, whether as a result of new information, future events or otherwise, except as required by law. View original content to download multimedia: SOURCE Jones Soda
