The Vita Coco Company, Inc. · NASDAQ:COCO
The Vita Coco — Q4 2024 Earnings Presentation
17 slides from The Vita Coco's earnings presentation, Feb 26, 2025
Slide 1: Building the Better Beverage Platform of the Future
BUILDING THE BETTER BEVERAGE PLATFORM OF THE FUTURE 2024 FOURTH QUARTER & FULL YEAR RESULTS ©2024 VITA COCO. PROPRIETARY AND CONFIDENTIAL
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
Slide 3: 2024 Fourth Quarter Performance Highlights vs. Q4 2023
2024 FOURTH QUARTER PERFORMANCE HIGHLIGHTS VS. Q4 2023 +19.9% NET SALES $127MM 32.4% GROSS MARGIN (510) BPS ADJUSTED EBITDA1 $8MM 6.1% MARGIN (174) BPS $3MM NET INCOME $0.06 PER SHARE $165MM CASH-ON-HAND $0MM DEBT 3 1 For all non-GAAP information throughout this presentation, the U.S. GAAP to non-GA
Slide 4: 2024 Full Year Performance Highlights
2024 FULL YEAR PERFORMANCE HIGHLIGHTS VS. 2023 FULL YEAR +4.5% NET SALES $516MM 38.5% GROSS MARGIN +190 BPS ADJUSTED EBITDA1 $84MM 16.3% MARGIN +249 BPS $56MM NET INCOME $0.94 PER SHARE $165MM CASH-ON-HAND $0MM DEBT 4 1 For all non-GAAP information throughout this presentation, the U.S. GAAP to non-
Slide 5: Our Vision
OUR VISION To be the leading platform for brands in the functional beverage category, and help our consumers… EAT A LITTLE BETTER, DRINK A LITTLE BETTER, LIVE A LITTLE BETTER We believe in democratizing health and wellness, while using business as a force for good to drive positive impact in our com
Slide 6: Strategic Growth Pillars
STRATEGIC GROWTH PILLARS EXPAND INNOVATE GROW FUTURE HOUSEHOLDS OUTSIDE THE INTERNATIONAL M&A AND OCCASIONS CORE Expand consumption Extend the brand to new International expansion M&A in markets and occasions and gain share occasions with new with focus on growing categories complementary from retai
Slide 7: Coconut Water Outpacing Other US Beverage Categories
COCONUT WATER OUTPACING OTHER US BEVERAGE CATEGORIES STRONG VOLUME GROWTH, LESS DEPENDENT ON PRICING VS. OTHER CATEGORIES VOLUME SOLD: TOTAL US MULO+ w/C % CHANGE VS. PY DOLLAR $: TOTAL US MULO+ w/C % CHANGE VS. PY Last 52 weeks - 12/29/2024 Last 52 weeks - 12/29/2024 Volume Sales % Change vs YA Dol
Slide 8: Vita Coco Coconut Water Retail Scans Over Last 13 Weeks
VITA COCO COCONUT WATER RETAIL SCANS OVER LAST 13 WEEKS REFLECTING IMPROVED INVENTORY AND HEALTHY CATEGORY IN LAST 13 THROUGH 02-16-25 , VITA COCO COCONUT WATER +20% AND SHARE OF 42% TOTAL US MULO+ w/C $ % CHANGE VS. PY VITA COCO US SHARE OF COCONUT WATER 2024, H2, Q4 AND L13W THROUGH 02-16-25 20.3%
Slide 9: Growing Households and Buy Rate
GROWING HOUSEHOLDS AND BUY RATE OVER INDEX IN GROWING DEMOGRAPHICS VITA COCO COCONUT WATER DELIVERING BALANCED HH PENETRATION BY HOUSEHOLD AND BUY RATE GROWTH DEMOGRAPHIC GROUP ’21 – 24 CAGR Households +9% Buy Rate +8% Total +18% Source: Numerator Total US L12M through 12/31/2024 Source: Numerator T
Slide 10: Key US 2024 Commercial Initiatives Drive Full Year Growth
KEY US 2024 VITA COCO COCONUT WATER COMMERCIAL INITIATIVES DRIVE FULL YEAR GROWTH ACV Performance $7.7 $9.2 $487.6 $20.0 Total US – MULO+ ACV $450.7 Q4'23 Q4'24 500mL 1ct Base 73 73 1L Base 69 70 500mL MPs (4pk) 61 62 330mL MPs 56 59 1L MPs 41 38 Farmers 1L 43 41 Total Brand 89 88 Total US – Conv AC
Slide 11: 2024 Fourth Quarter Financial Highlights
2024 FOURTH QUARTER FINANCIAL HIGHLIGHTS VOLUME (CE) GROWTH VS. PRIOR YEAR NET SALES GROWTH VS. PRIOR YEAR 19% 20% 16% Q4 2024 15% Versus Q4 2023: 4% 3% 2% Volume (CE) growth of (1)% (3)% +19% (4)% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net Sales increase of
Slide 12: 2025 Full Year Guidance and Long-Term Growth Algorithm
2025 FULL YEAR GUIDANCE LONG-TERM GROWTH ALGORITHM2 NET SALES $555-$570MM BRANDED MID NET SALES3 GROSS 35%-37% GROWTH TEENS MARGIN ADJUSTED ADJ. EBITDA HIGH TEENS $86-$92MM MARGIN EBITDA1 Source: The Vita Coco Company. 1 GAAP Net Income 2025 outlook is not provided due to the inherent difficulty in
Slide 13: Appendix
APPENDIX
Slide 14: Q4 2024 P&L Summary
Q4 2024 P&L SUMMARY $ & CE UNITS IN MM Q4 2024 Q4 2023 VS. PY NET SALES 127.3 106.1 20% 21.2 GROSS PROFIT / % MARGIN 41.3 / 32% 39.8 / 37% 4% 1.5 SG&A 37.0 34.4 8% 2.6 INCOME FROM OPERATIONS 4.3 5.4 (20)% -1.1 NET INCOME / % MARGIN 3.4 / 3% 6.8 / 6% (50)% (3.4) EPS - DILUTED $0.06 $0.11 NON-GAAP MEA
Slide 15: 2024 Full Year P&L Summary
2024 FULL YEAR P&L SUMMARY $ & CE UNITS IN MM 2024 FY 2023 FY VS. PY NET SALES 516.0 493.6 5% 22.4 GROSS PROFIT / % MARGIN 198.8 / 39% 180.7 / 37% 10% 18.1 SG&A 125.0 124.2 1% 0.8 INCOME FROM OPERATIONS 73.8 56.5 31% 17.3 NET INCOME / % MARGIN 56.0 / 11% 46.6 / 9% 20% 9.4 EPS - DILUTED $0.94 $0.79 N
Slide 16: Q1-Q4 2024 and 2023 Net Income to Adjusted EBITDA Reconciliation
Q1-Q4 2024 AND Q1-Q4 2023 NET INCOME TO ADJUSTED EBITDA RECONCILIATION Three Months Ended $MM December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 NET INCOME $3.4 $19.3 $19.1 $14.2 $6.8 $15.2 $18.0 $6.7 Depreciation & Amo
Slide 17: Full Year 2024 and 2023 Net Income to Adjusted EBITDA Reconciliation
FULL YEAR 2024 AND 2023 NET INCOME TO ADJUSTED EBITDA RECONCILIATION Full Year $MM December 31, 2024 December 31, 2023 NET INCOME $56.0 $46.6 Depreciation & Amortization 0.7 0.7 Interest Income / Expense (6.7) (2.6) Income Tax Expense 14.8 11.3 EBITDA $64.8 $56.0 Stock-Based Compensation 8.9 9.1 Unr
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