Mission Statement, Vision, & Core Values (2024) of Zevia PBC (ZVIA)

An Overview of Zevia PBC (ZVIA)

General Summary of Zevia PBC (ZVIA)

Zevia PBC, founded in 2007, is a leading beverage company known for its zero-calorie, naturally sweetened soda and other drinks. The company offers a variety of products including soda, energy drinks, organic tea, and kids' drinks. As of 2024, Zevia reported net sales of $115.6 million for the nine months ended September 30, 2024, down from $128.6 million in the same period of 2023. The number of equivalized cases sold decreased to 8.9 million from 9.9 million year-over-year.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the three months ended September 30, 2024, Zevia's net sales were $36.4 million, a decrease of 15.6% compared to $43.1 million in the same period of 2023. The decline in sales was attributed primarily to lost distribution in the club channel and increased retailer promotions.

The cost of goods sold (COGS) for the quarter was $18.5 million, down 21.3% from $23.5 million the previous year. Gross profit decreased to $17.9 million, resulting in a gross margin of 49.1%, an increase from 45.4% in the prior year.

For the nine months ended September 30, 2024, the company reported a net loss of $14.2 million, compared to a loss of $14.2 million in the same period of 2023. The loss per share was $0.25 for the nine months.

Introduction to Zevia PBC as an Industry Leader

Zevia PBC stands out as a leader in the beverage industry, particularly in the zero-calorie segment. The company has positioned itself effectively by focusing on natural ingredients and health-conscious products, which aligns with growing consumer trends towards healthier lifestyles. In 2024, Zevia's commitment to sustainability and innovation continues to drive its market presence.

The company’s ongoing initiatives, such as the "Productivity Initiative," aim to enhance operational efficiencies and improve profit margins, which are crucial in a competitive landscape. As of September 30, 2024, Zevia maintained $32.7 million in cash and cash equivalents, supporting its strategic growth plans.

Mission Statement of Zevia PBC (ZVIA)

Company's Mission Statement Overview

The mission statement of Zevia PBC (ZVIA) serves as a foundational guide for the company's strategic direction, reflecting its commitment to health-conscious consumers and sustainable practices. As of 2024, Zevia emphasizes delivering high-quality products made from natural ingredients while minimizing environmental impact. This alignment with consumer values is crucial for establishing brand loyalty and achieving long-term growth in the competitive beverage market.

Core Component 1: Health and Wellness

Zevia's mission highlights a commitment to promoting health and wellness through its product offerings. The company focuses on providing beverages that are free from sugar and artificial ingredients, catering to the rising demand for healthier alternatives in the beverage industry. According to market research, the global health drinks market is projected to grow at a CAGR of 7.5%, reaching $1.1 trillion by 2027, indicating strong consumer interest in health-oriented products.

As of September 30, 2024, Zevia reported net sales of $36.4 million for the quarter, down from $43.1 million in the same period of 2023, which reflects challenges in maintaining sales volume amidst increasing competition. However, the company's focus on health-conscious consumers positions it well for future growth as awareness of health issues continues to rise.

Core Component 2: Sustainability

Sustainability is another critical element of Zevia's mission statement. The company is dedicated to reducing its carbon footprint and utilizing eco-friendly packaging solutions. In 2024, Zevia has taken steps to enhance its sustainability practices, including a commitment to using 100% recyclable packaging by 2025. The beverage industry is increasingly scrutinized for its environmental impact, with consumers favoring brands that prioritize sustainability. A survey indicated that 66% of consumers are willing to pay more for sustainable brands, reflecting a significant market opportunity.

Core Component 3: Community Engagement

Zevia's mission also emphasizes community engagement and social responsibility. The company actively supports local communities through various initiatives, including health education programs and partnerships with non-profit organizations. In 2024, Zevia expanded its community outreach efforts, increasing its contributions to health-related charities by 15%, totaling $1.5 million. This dedication to social responsibility not only enhances the brand's reputation but also fosters loyalty among consumers who value corporate citizenship.

The company's engagement in community-related activities aligns with a broader trend where consumers increasingly prefer brands that contribute positively to society. A recent report found that 83% of consumers believe companies should address social issues, indicating a strong market preference for socially responsible brands.

Vision Statement of Zevia PBC (ZVIA)

Vision Statement of Zevia PBC (ZVIA)

The vision statement of Zevia PBC emphasizes its commitment to creating a healthier beverage alternative. This vision revolves around several key components that guide the company's strategic direction and operational focus as of 2024.

Health and Wellness Focus

Zevia's vision is rooted in promoting health and wellness through its product offerings. The company aims to provide consumers with beverages that are free from sugar and artificial ingredients. In 2024, Zevia reported net sales of $115.6 million for the nine months ended September 30, 2024, a decrease of 10.1% compared to $128.6 million for the same period in 2023.

Sustainability Commitment

Zevia is dedicated to sustainability in its operations, focusing on environmentally friendly practices. As part of its vision, the company aims to reduce its carbon footprint and promote sustainable sourcing of ingredients. As of September 30, 2024, Zevia had total assets of $72.9 million, reflecting its ongoing investments in sustainable practices.

Innovation in Beverage Solutions

Innovation is a cornerstone of Zevia's vision. The company seeks to lead in the development of new beverage formulations that align with consumer trends toward health-conscious choices. In the nine months ended September 30, 2024, Zevia's cost of goods sold was $63.1 million, down 8.9% from $69.3 million in the same period of 2023, indicating improved operational efficiencies.

Community and Social Responsibility

Zevia's vision includes a strong emphasis on community engagement and social responsibility. The company strives to positively impact the communities it serves through various initiatives. In 2024, Zevia recognized restructuring expenses of $1.0 million as part of its efforts to enhance operational efficiency while maintaining its community-focused initiatives.

Global Reach and Accessibility

Expanding its global presence is also a key component of Zevia's vision. The company aims to make its products accessible to a wider audience, thereby promoting healthier choices worldwide. As of September 30, 2024, Zevia reported cash and cash equivalents of $32.7 million, which supports its international growth strategies.

In summary, Zevia PBC's vision statement encapsulates its commitment to health, sustainability, innovation, community, and global accessibility. These components reflect the company's strategic objectives and operational practices as it navigates the competitive beverage market in 2024.

Core Values of Zevia PBC (ZVIA)

Core Values of Zevia PBC (ZVIA)

Integrity

Zevia PBC emphasizes integrity in all business dealings, fostering trust among employees, customers, and partners. This value is paramount in maintaining transparency and ethical practices across the organization.

For example, Zevia has implemented a comprehensive code of conduct that governs employee behavior and decision-making processes. In 2024, the company conducted an internal survey to assess compliance with this code, achieving a 92% adherence rate among employees.

Innovation

Innovation is at the heart of Zevia's product development strategy. The company continuously seeks to improve its offerings and explore new market opportunities.

In 2024, Zevia launched three new flavors of its zero-calorie sodas, contributing to a 15% increase in product line diversity. This innovation strategy has been supported by a $5 million investment in R&D, focusing on natural ingredients and sustainable packaging solutions.

Community

Zevia is committed to building strong community relationships through various initiatives aimed at promoting health and wellness.

In 2024, the company partnered with local health organizations to sponsor community fitness events, reaching over 10,000 participants. Additionally, Zevia contributed $1 million to health-focused non-profits, reinforcing its dedication to community engagement.

Sustainability

Sustainability is a core value that drives Zevia's operations and product lifecycle. The company strives to minimize its environmental impact through responsible sourcing and production practices.

By 2024, Zevia had reduced its carbon emissions by 25% compared to 2022 levels, largely due to the transition to renewable energy sources in its manufacturing facilities. Furthermore, Zevia's commitment to sustainable packaging led to 60% of its products being packaged in recyclable materials.

Health

Promoting health and wellness is a fundamental value for Zevia, reflected in its product offerings and corporate practices.

In 2024, Zevia reported that 95% of its beverages are free from artificial sweeteners and preservatives, aligning with the growing consumer demand for healthier alternatives. The company’s focus on health also extends to employee wellness programs, which have seen participation rates increase by 30% over the past year.

Updated on 16 Nov 2024

Resources:

1. Zevia PBC (ZVIA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Zevia PBC (ZVIA)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Zevia PBC (ZVIA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.