Zevia PBC

Zevia PBC is a U.S.-based beverage company focused on zero sugar, naturally sweetened soft drinks and related better-for-you beverages. Its portfolio includes soda, energy drinks, and organic tea products sold primarily in the United States and Canada through retail, club, mass, natural, convenience, and e-commerce channels.

−6,8 %

48,0 %

−6,2 %

+4,0 %

2.08

1.35

— Zevia PBC
	%
Zero Sugar Soda	55% Carbonated soft drinks sweetened with plant-based ingredients and no sugar.
Energy Drinks	20% Zero sugar energy beverages sold through retail and e-commerce channels.
Organic Tea	10% Tea-based beverages positioned as naturally sweetened, better-for-you drinks.
Other Beverage Formats	15% Additional flavors, package formats, and adjacent beverage offerings.

Zevia sells mainly to retailers and distributors that place its beverages in grocery, drug, warehouse club, mass,...

Retail chainsprimary
Large grocery, drug, mass, and warehouse customers that buy for shelf placement and consumer turnover.
Distributorsprimary
Wholesale partners that resell Zevia into smaller accounts and help expand channel coverage.
Natural and specialty storessecondary
Health-oriented retailers that buy Zevia for its zero sugar, plant-based positioning.
E-commerce consumerssecondary
Online shoppers purchasing directly through digital retail channels for convenience and variety.

Zevia’s business is concentrated in the United States and Canada, where it sells through a broad retail and distributor...

•Primary sales markets are the United States and Canada
•North American retail channels drive most consumer access
•Third-party manufacturing and warehousing are in the U.S. and Canada
•Cross-border trade policy can affect sourcing and landed costs
•Channel mix varies by region, especially club, mass, and natural retail

Zevia is focused on growing brand awareness, expanding distribution, and increasing velocity in key retail accounts...

Grow distribution and shelf presenceshort-term

More doors and better placement increase consumer reach and repeat purchase potential.

Drive velocity through promotionshort-term

Trade support helps move product off shelves and supports consumer trial.

Focus innovation on core better-for-you beveragesmedium-term

New flavors and formats can refresh demand and defend brand relevance.

Simplify operations and improve executionmedium-term

A leaner operating model supports scaling and better route-to-market performance.

Zevia is exposed to demand volatility, retailer inventory management, and intense competition in the beverage aisle,...

high

Trade policy and tariff disruption

The company sources and sells across North America, so tariffs can raise costs and affect affordability.

Scope: U.S., Canada, and cross-border supply chain
Materiality: high

high

Consumer demand weakness in a discretionary category

Beverage purchases can shift toward lower-priced alternatives during inflation or downturns.

Scope: Retail sell-through and repeat purchases
Materiality: high

high

Channel inventory and distribution loss

Lost distribution or retailer destocking can quickly reduce sales volumes.

Scope: Club, mass, grocery, and distributor channels
Materiality: high

medium

Supply chain dependence on third parties

Manufacturing and warehousing are outsourced, so service failures can disrupt availability.

Scope: Contract manufacturing and third-party logistics
Materiality: medium

Gross-to-net sales deductions

Affects revenue recognition and comparability across periods

Promotional accruals

Affects SG&A and net sales presentation

Seasonality and channel inventory

Affects quarterly revenue and margin comparability

Intangible asset impairment

Could create non-cash charges if performance weakens

Zevia PBC

Trade policy and tariff disruption

Consumer demand weakness in a discretionary category

Channel inventory and distribution loss

Supply chain dependence on third parties

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