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Financial Results for Jones Soda Co. Q1 2025

Seattle, May 15, 2025 - Jones Soda Co. (CSE: JSDA, OTCQB: JSDA) has recently released its financial outcomes for the first quarter of 2025, outlining a mixture of challenges and positive developments. The results, while showing a revenue drop, reflect strategic enhancements led by the new executive team.

Key Financial Highlights

During the first quarter ending March 31, 2025, Jones Soda reported total revenue of $4.6 million, a modest decrease compared to $5.0 million during the same quarter last year. A notable aspect was the Cannabis (THC) segment, which maintained steady revenue of $0.4 million—mirroring figures from the first quarter of 2024.

The net loss decreased to $0.9 million, translating to $(0.01) per share, which reflects a better performance than the previous year's net loss of $1.2 million for the same quarter. The Adjusted EBITDA showed an improvement of 39%, reaching $(0.6) million compared to $(1.0) million last year.

Operational Changes

These financial outcomes can be attributed to the new cost management strategies that have contributed to a 20% reduction in both selling, general, and administrative expenses without sacrificing productivity. The changes underscore the commitment of the new management team to operational efficiency.

In February 2025, Jones Soda secured a $5 million revolving credit facility aimed at supporting significant initiatives for expansion and sales growth. This step, combined with the hiring of seasoned executives Scott Harvey and Brian Meadows as CEO and CFO respectively, sets a promising trajectory for the company.

Segment Performance

The performance of Jones Soda’s beverage segment, which includes brands such as Pop Jones, generated approximately $4.2 million in revenue, decreasing from $4.6 million the year prior. A significant contributing factor to this decline was attributed to a one-time pipeline fill reported in Q1 2024.

Despite the revenue drop, the company’s HD9 product line reported strong sales of $0.9 million, marking the fourth consecutive quarter of growth in this area. The introduction of Jones Zero Cola, launched in over 10,000 stores, emphasizes the company’s focus on innovative low-calorie beverage options, with plans to introduce further flavors throughout the year.

Expansion in the Cannabis Segment

In the cannabis market, Jones Soda expanded into Missouri, tapping into the state’s fifth-largest legal cannabis sector through a partnership with Kansas City-based CLOVR. This move allows the company to diversify and enhance its product offerings under the Mary Jones brand, which includes cannabis-infused products.

Executive Insight

Scott Harvey, the new CEO, remarked: “The first quarter of 2025 marked the onset of a strategic turnaround for Jones, with significant improvements implemented across various areas of the business. Our focus has been on optimizing supply chain operations, tightening oversight, and instilling cost management to drive efficiency.”

He added, “We are committed to scaling the business while maintaining the integrity of the Jones brand. With strong industry momentum and the right team, we are optimistic about our future.”

Conference Call Announcement

Further insights will be shared in a conference call today at 4:30 p.m. ET, hosted by Scott Harvey and Brian Meadows. Investors and interested parties can participate via the provided dial-in numbers. A recording of the call will be available for later review through the company’s investor relations section on their website.

To summarize, while Jones Soda faced revenue challenges, the effective strategies implemented under new leadership point towards an optimistic outlook and potential future growth across its beverage and cannabis segments.