The Vita Coco Company, Inc. · NASDAQ:COCO

The Vita Coco — Q2 2022 Earnings Presentation

15 slides from The Vita Coco's earnings presentation, Aug 10, 2022

  1. Slide 1: The Pioneer in the Natural & Plant-Based Revolution: 2nd Quarter 2022 Results

    THE PIONEER IN THE NATURAL & PLANT-BASED REVOLUTION 2ND QUARTER 2022 RESULTS 1 ©2022 THE VITA COCO COMPANY. PROPRIETARY AND CONFIDENTIAL

  2. Slide 2: Disclaimer

    DISCLAIMER Non-GAAP Financial Measures In addition to disclosing results determined in accordance with U.S. GAAP, The Vita Coco Company, Inc. (the “Company”) also discloses certain non-GAAP results of operations, including, but not limited to, Adjusted EBITDA, that include certain adjustments or exc

  3. Slide 3: Second Quarter 2022 Performance Highlights

    SECOND QUARTER 2022 PERFORMANCE HIGHLIGHTS NET SALES % GROWTH VS. PRIOR YEAR (PY) • Continued strong top line NET SALES: momentum with Vita Coco Americas International $115MM / +13% vs. PY Coconut Water driving Net Sales growth ADJUSTED EBITDA2: • Vita Coco brand reached $7MM / 6% margin 51% market

  4. Slide 4: Building the Better Beverage Platform of the Future

    BUILDING THE BETTER BEVERAGE PLATFORM OF THE FUTURE A PUBLIC BENEFIT CORPORATION GLOBAL SUPPLY CHAIN – COCONUT WATER COMMITTED TO GIVING BACK AT SOURCE – SUPPORTED BY CO-PACK IN RESPONSIBLE BUSINESS, DIFFERENTIATED MARKET CULTURE, ASSET-LITE & VALUES SUPPLY CHAIN OMNICHANNEL BUSINESS WITH BLUE-CHIP

  5. Slide 5: Vita Coco Brand Showing Strong Growth

    VITA COCO BRAND SHOWING STRONG GROWTH VITA COCO IS DRIVING COCONUT WATER VITA COCO GREW SHARE OVER THE LAST YEAR CATEGORY GROWTH +7% TO 51% SHARE TOTAL US MULO+C $ % CHANGE 2022 Q2 vs. 2019 Q2 #1 COCONUT WATER BRAND IN THE US! 62.4% 64.2% 54.4% 26.3% 33.2% 33.3% Coconut Water Vita Coco L52W L26W L13

  6. Slide 6: Growth Continues in All Channels with Distribution Expansion in 2022 on Track

    GROWTH CONTINUES IN ALL CHANNELS WITH DISTRIBUTION EXPANSION IN 2022 ON TRACK VITA COCO $ % CHANGE VS PY L52W L26W L13W 29.5% 27.2% 26.4% 25.6% 21.4% 20.8% 19.2% 17.1% 13.3% 14.6% 11.2% 3.4% Total US MULO + C Total US Food Total US Drug Total US Convenience L52 VELOCITY GROWTH +18% +22% +24% +16% YE

  7. Slide 7: Vita Coco Household Penetration and Buy Rates Are Growing Simultaneously

    VITA COCO HOUSEHOLD PENETRATION AND BUY RATES ARE GROWING SIMULTANEOUSLY OUR CONSUMER BASE IS GROWING SHOPPERS BUY US MORE OFTEN AND SPEND MORE …+17% MORE HOUSEHOLDS …SHOPPING +7% MORE OFTEN FOR VC …SPENDING +6% MORE PER TRIP VITA COCO % HH PENETRATION VITA COCO VITA COCO SPEND PER TRIP PURCHASE FRE

  8. Slide 8: Second Quarter Financial Highlights

    SECOND QUARTER FINANCIAL HIGHLIGHTS Q2 2021 Q2 2022 13% Growth $115 NET SALES X $102 -3ppts margin GROSS $29 $29 PROFIT X 25% 28% -3ppts margin ADJ. $10 EBITDA* $7 X 10% 6% ©2022 THE VITA COCO COMPANY. PROPRIETARY AND CONFIDENTIAL 8 Note: Figures in USD millions. *For all non-GAAP information throug

  9. Slide 9: Continued Inflation Pressure on Our COGS Driven by Transportation

    CONTINUED INFLATION PRESSURE ON OUR COGS DRIVEN BY TRANSPORTATION, THOUGH SEEING STABILIZATION AND SLIGHT DECREASE IN COSTS VERSUS Q1 COGS BREAKDOWN ($ USD IN MILLIONS) Q2 2021 TRANSPORTATION Q2 2022 FINISHED GOODS ESTIMATED YOY RATE IMPACT OF OCEAN FREIGHT & DOMESTIC 32% 38% LOGISTICS: $73 $86 62%

  10. Slide 10: For Illustrative Purposes Only

    * FOR ILLUSTRATIVE PURPOSES ONLY ©2022 THE VITA COCO COMPANY. PROPRIETARY AND CONFIDENTIAL * Based on internal company data

  11. Slide 11: Reaffirming 2022 Full Year Guidance

    REAFFIRMING 2022 FULL YEAR GUIDANCE KEY HIGHLIGHTS $440-455MM / • Brand momentum and commercial NET SALES +16-20% trends expected to remain strong • Continued belief that transportation cost headwinds are not structural • Profit outlook reflects more pricing actions and acceleration of efficiencies

  12. Slide 12: Appendix

    APPENDIX ©©22002222 TTHHEE VVI TI TAA CCOOCCOO CCOOMMPPAANNYY. . PPRROOPPRRI EI ETTAARRYY AANNDD CCOONNFFI D 12 I DEENNTTI A I ALL

  13. Slide 13: 2022 P&L Summary

    2022 P&L SUMMARY $ & CE UNITS IN MM Q2’22 Q2’21 VS. PY VOLUME (CE) / % gr. 13.0 11.8 10% 1.2 NET SALES / % gr. 115.3 101.8 13% 13.5 GROSS PROFIT / % marg. 29.3 / 25.4% 29.0 / 28.5% 1% 0.3 SG&A 24.3 21.4 13% (2.8) INCOME FROM OPERATIONS 5.0 7.5 -33% (2.5) NET INCOME / % marg. 1.1 / 1% 7.8 / 8% -85% (

  14. Slide 14: Q2 2022 Net Income to Adjusted EBITDA Reconciliation

    Q2 2022 NET INCOME TO ADJUSTED EBITDA RECONCILIATION THREE MONTHS ENDING JUN 30 2022 2021 Net Income $1 $8 Depreciation & Amortization 0 1 Interest Income / Expense 0 0 Income Tax Expense 1 3 EBITDA $2 $12 Stock-Based Compensation 2 1 Unrealized (Gain)/Loss on Derivative Instrument 3 (5) FX (Gain) /

  15. Slide 15: H1 2022 Net Income to Adjusted EBITDA Reconciliation

    H1 2022 NET INCOME TO ADJUSTED EBITDA RECONCILIATION SIX MONTHS ENDING JUN 30 2022 2021 Net Income $3 $9 Depreciation & Amortization 1 1 Interest Income / Expense 0 0 Income Tax Expense 1 4 EBITDA $6 $15 Stock-Based Compensation 4 1 Unrealized Loss on Derivative Instrument (5) (3) FX Gain / Loss 0 2

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