Jones Soda Reports Q3 2026 Revenue Up 204% to $13.7 Million, With Positive Net Income
Jones Soda Reports Q3 2026 Revenue Up 204% to $13.7 Million, With Positive Net Income |
| [10-November-2026] |
Reaffirms Fiscal 2026 Revenue Outlook of More Than $45 Million and Positive Adjusted EBITDA
SEATTLE, Nov. 10, 2026 /PRNewswire/ -- Jones Soda Co. (CSE: JSDA) (OTCQB: JSDA) ("Jones Soda" or the "Company") today announced its financial results for the third quarter and nine months ended September 30, 2026.
"The third quarter marked an important step forward for Jones Soda," said Scott Harvey, Chief Executive Officer. "Revenue grew 204% year over year to a record $13.7 million, gross margin expanded to 34.4%, and we generated $400,000 of operating income compared with a $1.4 million operating loss a year earlier. These results reflect the progress we are making in expanding distribution, strengthening our product portfolio and improving operating leverage." "Our growth initiatives include additional club distribution, our Zero Sugar product lineup in Western Canada, and collaborations that connect the Jones brand with new audiences, including Fallout and Crayola. We are also evaluating opportunities to expand into functional health and nutrition. We remain focused on converting revenue growth into sustainable profitability and improved operating cash flow, while maintaining disciplined management of expenses and working capital." Third Quarter 2026 Financial Summary vs. Third Quarter 2025
Year-to-Date 2026 Financial Summary vs. Year-to-Date 2025
Recent Business Highlights
Third Quarter 2026 Financial Results Revenue for the third quarter ended September 30, 2026 increased 204% to $13.7 million from $4.5 million in the prior-year period. The Company continued to expand its club retail and direct-to-consumer activities. For the three months ended September 30, 2026, gross profit increased $3.4 million, or 263%, to $4.7 million from $1.3 million for the corresponding 2025 period. Gross margin improved to 34.4% from 28.9%, an increase of approximately 5.5 percentage points. Total operating expenses for the third quarter of 2026 were $4.3 million, an increase of $1.6 million compared with $2.7 million in the prior-year period. Selling and marketing expense increased to $2.3 million from $1.0 million, while general and administrative expense increased to $2.0 million from $1.7 million. Selling and marketing expenses as a percentage of revenue decreased to 17.0% in the third quarter of 2026 from 22.5% in the same quarter of 2025. Net income from continuing operations was $471,000, or $0.00 per share, an improvement of $1.9 million compared to a net loss from continuing operations of $(1.4) million, or $(0.01) per share, in the third quarter of 2025. Adjusted EBITDA from continuing operations was $869,000, compared with a loss of $897,000 in the prior-year quarter, an improvement of $1.77 million. As of September 30, 2026, the Company had cash of $4.4 million and positive working capital of approximately $2.1 million, compared with cash of $3.6 million and a working capital deficit of approximately $0.5 million at December 31, 2025. Net cash used in continuing operating activities was $2.3 million during the first nine months of 2026, compared with $4.0 million in the year-earlier period. Outlook The following forward-looking fiscal 2026 outlook reflects management's expectations as of November 10, 2026 and is subject to substantial risks and uncertainties. In particular, revenue growth and operating income do not necessarily imply positive cash flow because working capital and other cash requirements may vary. The Company reaffirms its fiscal 2026 outlook for net revenue in excess of $45 million, representing growth of more than 80% over fiscal 2025, and positive Adjusted EBITDA. Conference Call Jones Soda will hold a conference call at 9 a.m. Eastern time on November 10, 2026, to discuss its results for the third quarter ended September 30, 2026. Chief Executive Officer Scott Harvey and Chief Financial Officer Brian Meadows will host the conference call, followed by a question-and-answer period. During the question-and-answer period, management will address common themes and questions submitted through the webcast portal. Participants who wish to ask a question should join the call via the webcast. Date: Tuesday, November 10, 2026 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 Hayden IR at 1-646-755-7412. A telephonic replay of the conference call will be available approximately three hours after the conclusion of the call through Tuesday, November 24, 2026, at 11:59 p.m. Eastern time. To access the replay, dial 1-844-512-2921 (toll-free) or 1-412-317-6671 (international) and enter access ID 13763628. Presentation of Non-GAAP Information This release includes Adjusted EBITDA, a non-GAAP financial measure, which management uses as a supplemental measure of operating performance. Adjusted EBITDA is reconciled below to net income (loss) from continuing operations, the most directly comparable U.S. GAAP measure, through adjustments for interest expense, income taxes, depreciation, amortization, stock-based compensation, finance income and specified other items as shown in the reconciliation. Adjusted EBITDA should not be considered a substitute for GAAP results and may not be comparable with similarly titled measures used by other companies. About Jones Soda Co. Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading craft soda manufacturer. The Company markets and distributes premium craft sodas under the Jones® Soda 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 www.jonessoda.com. Forward-Looking Statements Disclosure Certain statements in this press release are forward-looking statements within the meaning of applicable U.S. and Canadian securities laws. These include statements about fiscal 2026 revenue and Adjusted EBITDA expectations, anticipated product introductions and distribution opportunities, strategic collaborations, functional-health initiatives, and management's plans to improve profitability and cash flow. Forward-looking statements are based on estimates and assumptions and involve known and unknown risks and uncertainties. Actual outcomes may differ materially because of, among other factors, changes in customer demand and product mix; performance of distributors and retail accounts; the timing of shipments; promotional and royalty costs; raw-material, production and freight costs; working-capital needs; the ability to secure financing; competition; product development and launch risk; regulatory changes, including rules governing hemp-derived products; and other risks discussed in the Company's Form 10-K for the year ended December 31, 2025 and subsequent SEC reports. The Company has historically experienced operating losses and negative operating cash flows, and its September 30, 2026 Form 10-Q includes a substantial-doubt going-concern disclosure. Forward-looking statements speak only as of the date made. Except as required by law, the Company undertakes no obligation to update them. --Tables Follow-- JONES SODA CO. — CONDENSED CONSOLIDATED BALANCE SHEETS
JONES SODA CO. — CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
JONES SODA CO. — RECONCILIATION OF GAAP NET INCOME (LOSS) FROM CONTINUING OPERATIONS TO NON-GAAP ADJUSTED EBITDA
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Company Codes: CNSX:JSDA,OTC-QB:JSDA,OTC-BB:JSDA,OTC-PINK:JSDA |
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