Jones Soda Co.

Jones Soda Co. delivered a transformational fourth quarter and full year 2025, characterized by a dramatic acceleration in revenue growth and significant operational leverage. Q4 2025 revenue surged 450% to $11.7 million, primarily driven by club channel and direct-to-consumer sales of licensed products. This top-line expansion facilitated a substantial margin inflection, with Adjusted Gross Profit Margin expanding 22 percentage points to 32% compared to the prior year period. Consequently, the company achieved positive Adjusted EBITDA of $0.5 million in the fourth quarter, a $3.1 million improvement from the $2.7 million loss in the same quarter last year. For the full year 2025, revenue increased 42% to $25.3 million, while Adjusted EBITDA improved by $5.2 million to a loss of $2.0 million. Management attributed the full year performance to new core soda sales through the club channel, incremental DTC sales, and improved cost management. The company strengthened its balance sheet, ending the year with $3.6 million in cash compared to $1.3 million in the prior year. Looking forward, management provided robust guidance, projecting Q1 2026 revenue to exceed $12 million and full year 2026 revenue to exceed $40 million, representing growth rates of over 260% and 60% respectively. CEO Scott Harvey highlighted that operational streamlining and strategic partnerships have positioned the company for sustained profitability and long-term shareholder value.