The Vita Coco Company, Inc. · NASDAQ:COCO

The Vita Coco — Q1 2022 Earnings Presentation

14 slides from The Vita Coco's earnings presentation, May 11, 2022

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

    THE PIONEER IN THE NATURAL & PLANT-BASED REVOLUTION 1ST 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: First Quarter 2022 Performance Highlights

    FIRST QUARTER 2022 PERFORMANCE HIGHLIGHTS NET SALES % GROWTH VS. PRIOR YEAR (PY) • Continued strong top line NET SALES: momentum with Vita Coco Coconut Water business Americas International $96MM / +28% vs. PY driving Net Sales growth • Vita Coco brand reached ADJUSTED EBITDA*: 50% market share in I

  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 50% SHARE TOTAL US MULO+C $ % CHANGE 2022 Q1 vs. 2019 Q1 #1 COCONUT WATER BRAND IN THE US! 60.3% 58.8% 40.6% 31.3% 32.5% 19.5% 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 42.0% 39.5% 35.9% 34.9% 36.3% 32.2% 27.1% 28.0% 27.8% 26.1% 22.7% 19.5% Total US MULO + C Total US Food Total US Drug Total US Convenience L52 VELOCITY GROWTH +22% +22% +34% +26% P

  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 …+20% MORE HOUSEHOLDS …SHOPPING +6% MORE OFTEN FOR VC …SHOPPING +7% MORE PER TRIP VITA COCO % HH PENETRATION VITA COCO VITA COCO SPEND PER TRIP PURCHASE FRE

  8. Slide 8: Vita Coco Pressed Is a Consumer and Retail Success

    VITA COCO PRESSED IS A CONSUMER AND RETAIL SUCCESS Vita Coco Pressed is adding unique drinkers And driving significant incremental dollars Vita Coco Pressed MULO-C $ Households $275M 3.9M Pressed $202M $184M 2.8M Vita Coco (ex-Pressed) 2021 March L52wks 2022 March L52wks 2020 March L52wks 2021 March

  9. Slide 9: First Quarter Financial Highlights

    FIRST QUARTER FINANCIAL HIGHLIGHTS Q1 2021 Q1 2022 28% Growth NET SALES $96 $75 X -12ppts margin GROSS $24 PROFIT $19 X 32% 20% -11ppts margin $6 ADJ. EBITDA* 8% X -3% -$3 ©2022 THE VITA COCO COMPANY. PROPRIETARY AND CONFIDENTIAL 9 Note: Figures in USD millions. *For all non-GAAP information through

  10. Slide 10: Significant Inflation Pressure on COGS Driven by Transportation

    WE HAVE CONTINUED TO EXPERIENCE SIGNIFICANT INFLATION PRESSURE ON OUR COGS DRIVEN BY TRANSPORTATION COGS BREAKDOWN ($ USD IN MILLIONS) 2021 Q1 TRANSPORTATION 2022 Q1 FINISHED GOODS 25% 40% ESTIMATED YOY $51 $77 RATE IMPACT OF OCEAN 75% 60% FREIGHT & DOMESTIC LOGISTICS: ~$15MM ON GROSS TOTAL CE VOLUM

  11. Slide 11: Updated 2022 Full Year Guidance

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

  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 Q1’22 Q1’21 Vs PY VOLUME (CE) / % gr. 11.0 8.7 27% 2.3 NET SALES / % gr. 96.4 75.5 28% 21.0 GROSS PROFIT / % marg. 19.1 / 19.8% 24.1 / 31.9% -21% (5.0) SG&A 24.8 19.8 25% 5 INCOME FROM OPERATIONS -5.7 4.3 -233% (10.0) NET INCOME / % marg. 2.2 / 2% 1.6 / 2% 35% 0.6

  14. Slide 14: Net Income to EBITDA Reconciliation

    Net Income to EBITDA reconciliation THREE MONTHS ENDING MAR 31 2022 2021 Net Income $2 $2 Depreciation & Amortization 0 0 Interest Income / Expense 0 0 Income Tax Expense 1 1 EBITDA $3 $3 Stock-Based Compensation 2 0 Unrealized Loss on Derivative Instrument (9) 1 FX Gain / Loss 0 1 Other Adjustments

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