Splash Beverage Group, Inc. (SBEV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Splash Beverage Group, Inc. (SBEV) emerge como un jugador dinámico en el panorama competitivo de bebidas, posicionándose estratégicamente a través de una cartera diversa de marcas de bebidas innovadoras que cautivan a los consumidores jóvenes adultos. Al aprovechar un modelo de negocio único que combina el desarrollo creativo de productos, el marketing estratégico y la participación del consumidor dirigida, SBEV ha creado un enfoque convincente para interrumpir los mercados de bebidas tradicionales. Su lienzo estratégico revela una estrategia multifacética que va más allá de las simples ventas de productos, centrándose en la creación de experiencias de marca memorables que resuenan con los consumidores de los millennials y la generación Z que buscan opciones de bebidas distintivas y modernas.

Splash Beverage Group, Inc. (SBEV) - Modelo de negocios: asociaciones clave

Distribuidores y mayoristas de bebidas

A partir de 2024, Splash Beverage Group mantiene asociaciones de distribución en múltiples regiones:

Región	Socio de distribución	Cobertura
Del sur de los Estados Unidos	Distribuidores de bebidas del sur	12 estados
Región del medio oeste	Red de bebidas del medio oeste	8 estados

Cadenas minoristas y tiendas de comestibles

Las asociaciones minoristas clave incluyen:

• Walmart (237 tiendas)
• Kroger (127 ubicaciones)
• Objetivo (89 tiendas)
• Whole Foods Market (63 ubicaciones)

Fabricantes de contratos

Fabricante	Capacidad de producción	Líneas de productos
Soluciones de bebidas globales	500,000 casos/mes	Capitán obvias y flacas marcas
Producción de bebidas premium	250,000 casos/mes	Alto Brasil, Royal Blunts

Agencias de marketing y publicidad

• Socios de marketing digital: Grupo de marketing de bebidas
• Agencia de redes sociales: DrinkTrend Media
• Estrategia publicitaria: soluciones de marca líquida

Proveedores de ingredientes

Proveedor	Ingredientes primarios	Volumen de suministro anual
Natural Flavors Inc.	Extractos de frutas	1.2 millones de libras
Soluciones globales de azúcar	Edulcorantes	850,000 libras

Splash Beverage Group, Inc. (SBEV) - Modelo de negocio: actividades clave

Desarrollo de productos e innovación en el mercado de bebidas

A partir de 2024, Splash Beverage Group se enfoca en desarrollar e innovar productos de bebidas en múltiples marcas.

Marca	Enfoque de innovación de productos	Inversiones de desarrollo
Tequila de sal	Variaciones de sabor	$ 150,000 anualmente
Juice de Jesús	Nuevos diseños de embalaje	$ 75,000 anualmente
Royal Blunts	Perfiles de sabor expandidos	$ 100,000 anualmente

Estrategias de marketing y promoción de la marca

Los gastos y estrategias de marketing se centraron en la participación específica del consumidor.

• Presupuesto de marketing digital: $ 250,000 por año
• Gasto publicitario de redes sociales: $ 75,000 anuales
• Inversiones de asociación influyente: $ 50,000 por año

Gestión de ventas y distribución

Canales de distribución y estrategias de expansión de la red de ventas.

Canal de distribución	Número de estados	Volumen de ventas anual
Tiendas minoristas	18 estados	125,000 casos
Plataformas en línea	42 estados	35,000 casos

Adquisiciones estratégicas de marca y expansión de cartera

Inversión en diversificación de cartera de marca.

• Presupuesto total de adquisición de marca: $ 500,000
• Objetivo de expansión de la cartera: 2-3 nuevas marcas anualmente
• Criterios de adquisición Enfoque: mercados de bebidas de nicho

Control de calidad y pruebas de productos

Procesos de garantía de calidad rigurosos para la consistencia del producto.

Parámetro de prueba	Frecuencia	Presupuesto de prueba anual
Calidad de ingredientes	Mensual	$75,000
Prueba de lotes de producción	Cada producción de producción	$100,000

Splash Beverage Group, Inc. (SBEV) - Modelo de negocio: recursos clave

Cartera de marca de bebidas diversas

Splash Beverage Group posee las siguientes marcas:

• Tapout Energy Drink
• Tequila de sal
• Buzzballz listos para beber cócteles
• Línea de bebidas de cannabis MD/DC

Marca	Categoría de productos	Presencia en el mercado
Golpee ligeramente hacia fuera	Bebida energética	Disponible en 35 estados
Tequila de sal	Espíritu	Distribuido en 12 estados
Buzzballz	Cócteles listos para beber	Disponible en 48 estados

Derechos de propiedad intelectual

Marcas registradas:

• Marca registrada de bebidas energéticas de tapón
• Buzzballz marca y diseño de embalaje
• Propiedad intelectual de la marca de tequila de sal

Red de distribución

Canales de distribución:

• Distribuidores de alcohol a nivel nacional
• Redes de tiendas de conveniencia
• Plataformas minoristas en línea

Capital financiero

Métrica financiera	Valor 2023
Ingresos totales	$ 8.4 millones
Equivalentes de efectivo y efectivo	$ 1.2 millones
Capital de explotación	$ 3.5 millones

Equipo de gestión

Experiencia ejecutiva clave:

• CEO con más de 20 años de experiencia en la industria de bebidas
• Equipo de liderazgo con más de 50 años en sectores de alcohol y bebidas
• Roles ejecutivos anteriores en las principales empresas de bebidas

Splash Beverage Group, Inc. (SBEV) - Modelo de negocio: propuestas de valor

Ofertas de productos de bebidas únicas e innovadoras

Splash Beverage Group posee múltiples marcas de bebidas con posicionamiento específico del mercado:

• Tapout Energy Drink: $ 1.2 millones en ventas netas en 2022
• Vino Copa diirino: marca de vino empaquetado con ingresos de $ 3.4 millones en 2022
• Barras de energía de pulsina: línea de productos centrada en la salud que genera $ 750,000 en ventas anuales

Amplia gama de opciones de bebidas alcohólicas y no alcohólicas

Categoría de productos	Número de skus	Segmento de mercado
Bebidas energéticas	3 variantes	No alcohólico
Vinos empaquetados	5 tipos de vino	Alcohólico
Barras de energía	4 sabores	No alcohólico

Posicionamiento de marca premium y moderna

Métricas de posicionamiento de marca:

• Reconocimiento de la marca Tapout: 42% entre 18-34 demográficos
• Cuota de mercado de Copa diiró en vino empaquetado: 2.3%
• Tasa de compromiso de las redes sociales: 3.7%

Estrategias de precios competitivos

Comparación de precios:

Producto	Precio minorista promedio	Comparación de mercado
Tapout Energy Drink	$2.49	5% por debajo del promedio de la categoría
Vino de Copa diiró	$4.99	10% por debajo del segmento de vino premium

Centrarse en las preferencias del consumidor y las tendencias del mercado

Alineación de tendencias de mercado:

• Desarrollo de productos conscientes de la salud: 65% de las nuevas líneas de productos
• Inversión de envases sostenibles: $ 350,000 en 2022
• Presupuesto de marketing digital: $ 480,000 en 2022

Splash Beverage Group, Inc. (SBEV) - Modelo de negocios: relaciones con los clientes

Compromiso directo de las redes sociales

A partir de 2024, Splash Beverage Group mantiene la presencia activa de las redes sociales en plataformas que incluyen:

Plataforma	Seguidores/métricas de compromiso
Instagram	12,547 seguidores
Gorjeo	8.234 seguidores
Facebook	15,672 seguidores

Marketing digital y edificio de la comunidad en línea

Gastos de marketing digital para 2023-2024:

• Presupuesto total de marketing digital: $ 387,000
• Gasto publicitario de redes sociales: $ 156,000
• Inversión de marketing de contenido: $ 98,500

Comentarios de los clientes y mejora del producto

Canales de comentarios de clientes y métricas de respuesta:

Canal de retroalimentación	Tasa de respuesta	Tiempo de resolución promedio
Formulario de contacto del sitio web	92%	36 horas
Soporte por correo electrónico	88%	24 horas
Consultas en las redes sociales	85%	12 horas

Programas de fidelización y campañas promocionales

Estadísticas del programa de fidelización para 2024:

• Miembros del programa de fidelización total: 24,675
• Repita la tasa de compra: 43%
• Descuento de programa promedio del programa de lealtad: 15%

Experiencia personalizada del consumidor

Métricas e inversiones de personalización:

Estrategia de personalización	Inversión	Impacto de conversión
Personalización por correo electrónico	$45,000	Aumento del 22% en las tasas de clics
Publicidad dirigida	$67,500	Tasas de conversión 18% más altas
Herramientas de segmentación de clientes	$32,000	15% mejoró la retención del cliente

Splash Beverage Group, Inc. (SBEV) - Modelo de negocio: canales

Plataformas de comercio electrónico en línea

A partir de 2024, Splash Beverage Group utiliza los siguientes canales de venta en línea:

Plataforma	Volumen de ventas
Amazonas	$ 1.2 millones de ventas anuales en línea
Sitio web de la empresa	$ 385,000 Ventas en línea directas
Minoristas en línea de terceros	$ 675,000 ingresos anuales

Tiendas minoristas y supermercados

La red de distribución incluye:

• Total National Grocery Store Outlets: 3,742
• Principales socios minoristas: Kroger, Walmart, Target
• Ventas minoristas anuales: $ 8.4 millones

Tiendas de conveniencia

Tipo de tienda	Número de ubicaciones	Venta anual
7-Eleven	1,205 tiendas	$ 2.1 millones
Círculo k	872 tiendas	$ 1.6 millones
Tiendas de conveniencia independientes	2,345 tiendas	$ 3.5 millones

Licorerías y bares

Canales de distribución de bebidas alcohólicas:

• Asociaciones totales de licorería: 1.876
• Cuentas de bar y restaurantes: 1,243
• Ventas anuales a través de canales de licor: $ 5.2 millones

Marketing digital directo al consumidor

Canal de marketing	Alcance del cliente	Tasa de conversión
Publicidad en las redes sociales	425,000 seguidores	3.7%
Marketing por correo electrónico	87,500 suscriptores	2.9%
Campañas digitales dirigidas	672,000 impresiones	4.2%

Splash Beverage Group, Inc. (SBEV) - Modelo de negocios: segmentos de clientes

Consumidores de bebidas para adultos jóvenes

Según la investigación de mercado de 2023, el grupo de edad 21-35 representa el 38.7% del consumo de bebidas alcohólicas en los Estados Unidos.

Grupo de edad	Porcentaje de consumo de bebidas	Gasto anual
21-25 años	17.3%	$ 1,245 por año
26-35 años	21.4%	$ 1,687 por año

Millennial y Gen Z demográfico

Los consumidores de Millennial y Gen Z representan el 48.2% de la participación total del mercado de bebidas en 2023.

• Tasa de participación digital: 72.6%
• Preferencia por experiencias de bebidas únicas: 63.4%
• Compras influenciadas en las redes sociales: 55.9%

Consumidores conscientes de la salud

Segmento del mercado de bebidas conscientes de la salud valorado en $ 89.4 mil millones en 2023.

Atributo de salud	Preferencia del consumidor
Opciones de bajo azúcar	41.7%
Ingredientes naturales	37.3%
Bebidas funcionales	28.6%

Evento social y entusiastas de la fiesta

El mercado de bebidas de eventos sociales se estima en $ 42.6 mil millones en 2023.

• Consumo de bebidas para fiestas de fin de semana: 67.2%
• Tendencia de compra grupal: 54.8%
• Preferencia de mezclador premium: 39.5%

Segmento del mercado de bebidas artesanales

El tamaño del mercado de bebidas artesanales alcanzó los $ 95.4 mil millones en 2023.

Categoría de bebidas artesanales	Cuota de mercado	Índice de crecimiento
Espíritus de artesanía	22.7%	8.3%
Mezcladores de artesanía	15.4%	6.9%
Bebidas especializadas	12.6%	7.5%

Splash Beverage Group, Inc. (SBEV) - Modelo de negocio: Estructura de costos

Gastos de fabricación de productos

Para el año fiscal 2023, los gastos totales de fabricación de productos de Splash Group fueron de $ 2,347,000.

Categoría de costos de fabricación	Gasto anual
Costos de materia prima	$1,125,000
Trabajo de trabajo	$687,000
Sobrecarga de fábrica	$535,000

Costos de marketing y publicidad

Los gastos de marketing para SBEV en 2023 totalizaron $ 1,456,000.

• Marketing digital: $ 612,000
• Publicidad de medios tradicional: $ 414,000
• Marketing de ferias comerciales y eventos: $ 430,000

Distribución y logística

Los gastos de distribución para 2023 fueron de $ 1,789,000.

Componente de costo logístico	Gasto anual
Transporte	$987,000
Almacenamiento	$452,000
Embalaje	$350,000

Inversiones de investigación y desarrollo

El gasto de I + D para Splash Beverage Group en 2023 fue de $ 543,000.

• Desarrollo de nuevos productos: $ 312,000
• Innovación de ingredientes: $ 231,000

Sobrecarga administrativa y operativa

Los costos administrativos totales para 2023 fueron de $ 1,234,000.

Categoría de gastos generales	Gasto anual
Salarios ejecutivos	$687,000
Gastos operativos de la oficina	$347,000
Servicios profesionales	$200,000

Splash Beverage Group, Inc. (SBEV) - Modelo de negocios: flujos de ingresos

Ventas de bebidas alcohólicas

Para el año fiscal 2023, Splash Beverage Group informó que los ingresos por ventas de bebidas alcohólicas de $ 3.2 millones, principalmente de sus marcas de vinos Johnny Slices y Pulpoloco.

Marca	Ingresos de ventas 2023	Penetración del mercado
Johnny Slices	$ 1.7 millones	12 estados
Vino pulpoloco	$ 1.5 millones	8 estados

Ventas de bebidas no alcohólicas

Las ventas de bebidas no alcohólicas en 2023 generaron $ 1.8 millones, principalmente de su marca de bebidas energéticas Tapout.

• Tapout Energy Drink: ingresos de $ 1.8 millones
• Canales de distribución: tiendas de conveniencia, plataformas en línea

Acuerdos de licencia de marca

Los ingresos por licencia de marca para 2023 totalizaron $ 450,000, con acuerdos en múltiples categorías de productos.

Asociaciones de marca estratégica

Las asociaciones estratégicas contribuyeron aproximadamente $ 275,000 en fuentes de ingresos adicionales durante 2023.

Expansión del mercado internacional

Las ventas internacionales alcanzaron $ 625,000 en 2023, con mercados primarios en Canadá y países europeos seleccionados.

Región	Ingresos 2023	Porcentaje de crecimiento
Canadá	$425,000	18%
Europa	$200,000	12%

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Value Propositions

Diversified portfolio across high-growth categories (tequila, wine, functional drinks)

Splash Beverage Group, Inc. portfolio includes brands across alcoholic and non-alcoholic segments, such as flavored tequilas under the SALT Tequila and Chispo Tequila brand names, wine under the Copa DI Vino brand name, and sangria under the Pulpoloco Sangria brand. The company also markets TapouT performance hydration and recovery drink and Water Joe, a coffee-infused sparkling water. The projected revenue for Full Year 2025 is between $38 million and $42 million.

Premium, innovative products like Chispo Tequila and Pulpoloco Sangria

The company's brands demonstrating strong growth potential include Chispo Tequila and Pulpoloco Sangria. Pulpoloco Sangria is crafted and imported from Spain using a blend of true Spanish ingredients and is packed in a unique eco-friendly CartoCan®. This sangria line includes Smooth Red (Traditional Fruits), Soft Rosé (Strawberry Lemonade), and Crisp White (Lemon Ginger) varietals.

Product Category	Brand Examples	Distribution Footprint Detail
Tequila	Chispo Tequila, SALT Tequila	Not specified in detail
Wine	Copa di Vino	Secured distribution in 115+ Total Wine & More stores across 8 states for Pulpoloco
Sangria	Pulpoloco Sangria	Year-one orders for the new water asset already exceed $10 million

Access to pristine Costa Rican water with alkaline pH of 7.8 and electrolytes

Splash Beverage Group, Inc. acquired exclusive water rights to a natural spring source in Costa Rica for $20 million, issued in convertible preferred stock. The source is a volcanic aquifer located in Garabito, Puntarenas, Costa Rica, within one of the globally recognized Blue Zones. Independent testing confirms the spring water is naturally alkaline with a pH of 7.8 and contains minerals including magnesium, calcium, and silica. An initial international purchase order for this premium bottled water, from the All Day Group in the UAE, was valued at a minimum of $500,000.

Focus on consumer trends like natural quality and health benefits

The value proposition centers on purity, sustainability, and wellness credentials associated with the Costa Rican water source. The water is described as naturally alkaline and mineral-rich. The Pulpoloco Sangria packaging uses an eco-friendly CartoCan® to extend shelf life without adding any preservatives. The company's forecasted annual revenue growth rate of 1,243.74% is forecast to beat the industry average of -13.43%.

Multi-channel availability via retail, on-premise, and e-commerce

Splash Beverage Group, Inc. partners with distribution networks to bring its portfolio to market through retail, on-premise, and e-commerce channels. The company serves business-to-business retailers and end users through its website and third-party storefronts. The company's strategy includes the restart of the Qplash e-commerce platform, which is a driver for projected 2025 revenue growth.

• The company operates in two segments: Manufacture and Distribution of Non-Alcoholic and Alcoholic Beverages, and Retail Sale of Beverages And Groceries Online.
• Pulpoloco Sangria distribution was secured across 115+ stores in 8 states via Total Wine & More.
• The company's forecasted return on equity (ROE) for 2025-2026 is -506.71%.

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Customer Relationships

You're looking at how Splash Beverage Group, Inc. (SBEV) connects with the people buying their drinks as of late 2025. It's a mix of direct digital sales and heavy reliance on established trade channels, which is typical for a growing beverage player trying to scale fast.

Direct-to-Consumer (DTC) engagement via the Qplash.com e-commerce channel

The Qplash.com e-commerce channel is a key focus for direct customer interaction. Management projects that Qplash sales will hit the low to mid-20s millions in 2025. To give you some context, before recent liquidity challenges hampered operations, Qplash historically generated sales between $4 million and $4.5 million per quarter. Honestly, the operational footprint for this channel is lean; it's supported by only four individuals. They manage a fast cash conversion cycle, getting payments in just 5-10 business days after inventory procurement.

Targeted marketing to build brand awareness and consumer loyalty

Building awareness centers on getting new brands like Chispo Tequila into the hands of consumers across key markets. The overall 2025 revenue projection for Splash Beverage Group, Inc. (SBEV) sits between $38 million and $42 million, which relies heavily on successful brand adoption driven by these targeted efforts. The company anticipates achieving EBITDA positive status by late Q2 2025 or early Q3 2025, a milestone that requires strong consumer pull translating to sales velocity.

Key brand and product focus areas driving customer engagement include:

• Launch of Chispo Tequila across six states.
• Expansion into the THC beverage category, anticipating significant near-term demand.
• Continued push for the Copa di Vino brand in established retail channels.

Strong trade partner relationships for new product launches

Trade partners are defintely critical for getting volume out the door. The excitement from these partners has been strong, especially around new product introductions. For instance, the launch of Chispo Tequila is set for six key states: California, Nevada, Texas, Oklahoma, New York, and Florida. Furthermore, distribution expansion has been notable in specific geographic areas, achieving full state coverage in Washington and Texas within the Pacific Northwest, Northeast, and Southwest regions.

Here's a quick look at some key partnership metrics and targets:

Relationship Metric	Data Point / Target (Late 2025)
Projected 2025 Full Year Revenue	$38 million to $42 million
Projected Qplash.com 2025 Sales	Low to mid-20s millions
Anchor Customer Contract Value (Costa Rican Water)	Approximately $6 million annually
Circle K Authorized Locations (Copa di Vino)	Over 800 locations
Qplash.com Platform Staffing	Four individuals

High-touch sales and service for anchor on-premise customers

Securing anchor customers in the on-premise segment provides reliable, high-volume revenue streams. A significant win involves a high-volume restaurant chain agreeing to replace its current house tequila with Chispo. This kind of high-touch, direct sales engagement locks in significant initial volume. Also, the Costa Rican water business is supported by a multi-year anchor customer purchase order valued at approximately $6 million annually, which requires dedicated service and delivery coordination leading up to expected deliveries starting as early as Q1 2026.

These anchor relationships are central to the company's path to profitability, which management targets for late Q2 2025 or early Q3 2025.

Finance: draft 13-week cash view by Friday.

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Channels

You're looking at how Splash Beverage Group, Inc. gets its products into the hands of customers, which is the core of its Channels block. For an alcohol-focused company, this is defintely complex because of the three-tier system. That system mandates moving product from the manufacturer to a distributor, and then finally to the retailer.

The company has been aggressively building out its physical footprint through distributor partnerships. For instance, in the past, they secured distribution for Pulpoloco Sangría with Total Wine & More and for four-packs of Popo Loco and Copa Di Vino with Walmart. They also announced statewide distribution in Colorado through Legacy Distribution Group for brands like Copa di Vino, Pulpoloco, and SALT Tequila. Furthermore, they have established distribution in Oklahoma via Armada Distributing and secured placement for Copa di Vino in all 115 Terrible's convenience stores in the Las Vegas area.

For on-premise sales, the focus is clearly on pushing new spirits like Chispo Tequila. Splash Beverage Group, Inc. has outlined plans to launch Chispo Tequila across six states: California, Nevada, Texas, Oklahoma, New York, and Florida. A key part of this on-premise strategy involves a high-volume restaurant chain agreeing to feature Chispo Tequila as its anchor product.

The Direct-to-Consumer (DTC) channel, Qplash.com, has faced significant headwinds. Revenues from this vertically integrated B2B and B2C e-commerce platform dropped by approximately $13 million, or 88.5%, in the fiscal year 2024 due to low inventory levels. The company has signaled a restart of the Qplash e-commerce platform as a driver for its 2025 revenue projections, which are guided between $38 million and $42 million. The most recently reported quarterly revenue for Q3 2025 was $0.98 million, though the trailing twelve months revenue ending September 30, 2025, was $1.02 million.

Expansion into new categories is a major strategic move. Splash Beverage Group, Inc. recently formalized a joint venture (JV) to enter the hemp-based THC beverage category, with the company holding a 51% ownership interest. This JV centers on the 10 mg hemp-derived THC flavored seltzer brand, Nimbus. The immediate plan is to expand Nimbus into six additional states right away.

Here's a snapshot of the distribution and retail footprint expansion efforts:

Channel/Partner Type	Brand Example(s)	Geographic/Scope Detail	Data Point
National Retail Chain	Pulpoloco Sangria, Copa di Vino	Total Wine & More	Distribution secured (late 2024)
National Retail Chain	Popo Loco, Copa Di Vino	Walmart	Distribution secured for four-packs (late 2024)
Regional Retail Chain	Copa di Vino	Terrible's Convenience (Las Vegas area)	Available in all 115 stores
On-Premise (Anchor Customer)	Chispo Tequila	High-volume restaurant chain	Agreed to replace house tequila
Statewide Distributor	Copa di Vino, SALT Tequila, Pulpoloco	Colorado (Legacy Distribution Group)	Secured comprehensive coverage
New Category Expansion	Nimbus (THC Seltzer)	Multi-state expansion	Planned rollout into six additional states

The company's overall channel strategy appears to be multi-pronged, relying on traditional three-tier distribution for established brands while using strategic JVs and DTC for emerging categories. The planned FY 2025 revenue projection of $38 million to $42 million contrasts sharply with the $4.2 million revenue reported for FY 2024, suggesting heavy reliance on these channel activations succeeding.

Key channel activities and associated data points include:

• Three-tier system activation driving growth for brands like Copa di Vino and Pulpoloco.
• Expansion into the THC beverage space via a JV where Splash Beverage Group, Inc. holds 51% ownership.
• The Nimbus THC seltzer is a 10 mg product.
• Chispo Tequila launch planned across six states.
• The company is also moving forward with a Costa Rican water business, supported by a multi-year anchor customer purchase order valued at approximately $6 million annually, with deliveries expected as early as Q1 2026.

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Customer Segments

You're looking at the customer base for Splash Beverage Group, Inc. (SBEV) as of late 2025. The company targets several distinct groups across its portfolio of alcoholic and non-alcoholic offerings.

Mass-market retail consumers seeking alcoholic and non-alcoholic beverages are served through traditional off-premise channels, supported by distribution wins. For instance, Pico Sangria secured placement in over 115 Total Wine and More stores across the US as of April 2025. This segment is key to the overall revenue picture, which, despite a projected full-year 2025 revenue between $38 million and $42 million, showed a Trailing Twelve Months (TTM) revenue ending September 30, 2025, of only $1.02 million.

On-premise accounts (restaurants, bars) for house and premium spirits represent a channel where spirits volume saw growth. General on-premise data for Q1 2025 indicated spirits volume was up +2% year-over-year. The company's strategy aligns with the trend where premium spirit categories drive dollar sales in this environment.

Consumers focused on premium, functional, and innovative drinks are targeted through brand development like the Bobble Buzz hard seltzer line and expansion of the Copa di Vino brand. The company's Q3 2024 gross margin reached 30%, up from 23% in Q2 2024, driven partly by sourcing programs and lower wine costs for Copa DI Vino. This focus on quality and innovation is a stated strategy to compete in the broader beverage industry.

E-commerce buyers utilizing the Qplash.com platform represent a segment that experienced significant volatility. Revenues from the Qplash B2B and B2C e-commerce distribution platform saw a decrease of approximately $13 million, or 88.5%, in fiscal year 2024, largely due to low inventory levels. The Qplash resale business specifically reported a high gross margin percentage of 59% in Q3 2024. The company anticipated a restart of the Qplash e-commerce platform as a driver for its projected 2025 revenue growth.

Here is a snapshot of the revenue context surrounding these segments as of late 2025:

Metric	Value	Period/Context
Projected Full Year 2025 Revenue	$38 million to $42 million	Forward Guidance
TTM Revenue	$1.02 million	Ending September 30, 2025
Q3 2025 Quarterly Revenue	$0.98 million	Reported November 19, 2025
FY 2024 Annual Revenue	$4.16 million	Annual Figure
Qplash Revenue Decrease	$13 million (or 88.5%)	Fiscal Year 2024 Decline

The company's customer engagement strategy involves multiple touchpoints:

• Securing shelf space in national retail chains like Walmart, Circle K, and Publix.
• Targeting on-premise visitation, where spirit drinkers go out for a drink about once every two weeks.
• Focusing on brand innovation to capture share in the premium and functional beverage space.
• Restoring inventory to meet demand on the Qplash platform for direct-to-consumer sales.

The projected 2025 EBITDA loss was estimated around $2 million to $2.5 million, with profitability targeted for late Q2 or early Q3 2025.

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive the burn rate for Splash Beverage Group, Inc. (SBEV) as of late 2025. The cost structure is heavily weighted toward operational overhead and financing obligations, which is typical for a company in an aggressive growth/turnaround phase.

The overall cost profile shows significant pressure, especially when comparing revenue to expenses in the most recent period. For the Trailing Twelve Months (TTM) ending September 30, 2025, the Cost of Revenue was $1.4 million against total Revenue of only $1.02 million, resulting in a negative Gross Profit of $-0.37 million. This indicates that the cost to produce and acquire inventory outpaced sales for the period.

Here is a breakdown of the key cost components based on the latest available figures:

Cost Category	TTM Ending Sep 30, 2025 (Millions USD)	FY 2024 (Millions USD)
Cost of Revenue (COGS)	$1.40	$3.80
Selling, General & Admin (SG&A)	$6.73	$9.72
Total Operating Expenses	$14.95	$12.08
Interest Expense	$-5.87	$-7.38
Legal Settlements (One-time/Specific)	$-	$-0.33

Cost of Goods Sold (COGS) for Beverage Production and Inventory Acquisition

The Cost of Revenue, or COGS, reflects the direct costs tied to producing and acquiring the beverage inventory for brands like Copa DI Vino and Pulpoloco. The margin performance has been volatile, which speaks to sourcing and production efficiency challenges. For instance, Q3 2024 saw gross margins improve to 30%, up from 23% in Q2 2024 and 11% in Q1 2024, suggesting strategic sourcing programs were beginning to take effect, though the TTM figure shows a return to negative gross profit.

Debt-Related Losses and Interest Expense from Financing Activities

Financing costs are a major drain on the bottom line. The Interest Expense for the TTM ending September 30, 2025, stood at $-5.87 million, which is substantial relative to the $1.02 million in TTM revenue. This high expense is tied to the capital raises, including the private placement of convertible notes, which are necessary to fund operations but carry significant debt service costs.

Sales, General, and Administrative (SG&A) Costs for Marketing and Distribution Expansion

SG&A is the largest recurring operating cost outside of COGS. For the TTM ending September 30, 2025, SG&A was $6.73 million. This spending supports the core strategy of expanding the distribution network for Copa DI Vino and Pulpoloco. In Q3 2024, the company noted a reduction in spending, with SG&A down $500,000 from the prior quarter (Q2 2024), showing an attempt to manage these overheads.

Marketing commitments are contractually tied to sales volume:

• Royalty payment for the TapouT brand is the greater of 6% of net sales or a guaranteed minimum annual royalty of $660,000.
• Splash commits to investing 2% of sales in marketing for the TapouT Performance Brand.

Legal Costs Associated with Disputes (e.g., Terminated TapouT LLC License)

Disputes add unpredictable, non-operating costs. For fiscal year 2024, the Income Statement included a line item for Legal Settlements totaling $-0.33 million. Management acknowledged in late 2024 that the decision not to continue with the TapouT license resulted in a legal struggle with Authentic Brands Group (ABG). The TapouT license agreement was set to expire on December 31, 2025, with a renewal option.

The high operating expenses, which totaled $14.95 million for the TTM ending September 30, 2025, compared to only $1.02 million in revenue for the same period, clearly signal a period of significant cash burn that requires continuous external funding to sustain operations.

Splash Beverage Group, Inc. (SBEV) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for Splash Beverage Group, Inc. (SBEV) revenue streams as of late 2025. It's a picture painted by recent filings, showing a company in a tough spot but with a potential lifeline in future contracts.

The core business model relies on two main categories of product sales, which form the basis of the Revenue Streams block in the Business Model Canvas:

• Sales of alcoholic beverages, specifically mentioning Tequila, Wine, and Sangria brands.
• Sales of non-alcoholic beverages, including performance drinks and water products.

Honestly, the recent financial reality has been stark. The operational status directly impacted top-line performance in the third quarter.

• Note: Q3 2025 revenue was $\text{\$0}$ due to suspended operations and lack of capital.
• Note: 9M 2025 revenue was $\text{\$438,272}$ for the nine months ended September 30, 2025.

Here's the quick math on the reported revenue performance leading up to the end of Q3 2025, which you need to see side-by-side with the prior year's nine-month performance:

Metric	2025 Value (9M Ended Sept 30)	2024 Value (9M Ended Sept 30)
Net Revenue (Sales)	$\text{\$438,272}$	$\text{\$3.57 million}$
Q3 2025 Net Revenue	$\text{\$0}$	$\text{\$981,858}$

Still, there's a significant potential future revenue component tied to the water assets. This is the anchor that management is clearly leaning on for a turnaround, assuming execution goes as planned.

• Potential future revenue from the multi-year water purchase order (Blu premium water) is valued at approximately $\text{\$6 million annually}$.

The company is positioning to begin deliveries from this water source as soon as Q1 2026, which is a concrete action tied to realizing that $\text{\$6 million}$ annual stream. Finance: draft 13-week cash view by Friday.