The Vita Coco Company, Inc. (COCO): Business Model Canvas [Dec-2025 Updated]

You're digging into the mechanics of The Vita Coco Company, Inc. as of late 2025, and the real strength here, as I see it from my desk, is their brilliant asset-light supply chain paired with category-defining brand equity. This isn't a company bogged down in CapEx; they manage a global sourcing network while projecting net sales between $580 million and $595 million for the full year, all while sitting on $204 million in cash with no debt as of Q3. I've mapped out the nine core components of their business model below-from their key partnerships managing tariffs to their premium hydration value proposition-so you can clearly see how they translate brand leadership into solid financial results. Take a look; it's a masterclass in modern CPG strategy.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Key Partnerships

You're looking at how The Vita Coco Company, Inc. structures its external relationships to keep that coconut water flowing, and honestly, it's all about a fixed asset-light approach that relies heavily on global partners. This strategy is key to managing costs and tariffs, which is a big deal for them right now.

The foundation of their supply chain is a highly diversified manufacturing base. The Vita Coco Company, Inc. sources its core ingredient from a global network consisting of 17 factories spread across seven countries. This geographical spread is a deliberate move to minimize the impact of localized issues, like the U.S. tariffs they've been navigating, which management noted had a blended average rate of approximately 23% applying to about 60% of global cost of goods as of Q3 2025.

To support local market needs, especially for packaging and repacking, The Vita Coco Company, Inc. utilizes co-manufacturing support across four countries. This flexibility is crucial for servicing their availability in over 35 countries.

The scale of their distribution partnerships is significant, though concentrated. As of a recent report, the largest distributor and retail customer accounted for 48% of total net sales, highlighting a material dependency on key relationships. The overall reach of this network includes approximately 31,000 distribution points, supporting sales across club, food, drug, mass, convenience, and e-commerce channels. Major retailers like Walmart are specifically noted as increasing shelf placement for better-for-you beverages, which is a direct benefit of these strategic agreements.

The private label segment, while strategically deemphasized in favor of branded growth, still represents a concrete partnership stream in North America and Europe. For instance, in the Americas segment during the third quarter of 2025, private label net sales were reported at $14 million. This contrasts with the overall company guidance for full-year 2025 net sales to be between $580 million and $595 million, showing the relative size of the private label contribution.

Endorsement deals are part of their marketing mix, aligning the brand with elite athletes. While specific financial commitments for athlete partnerships are not publicly itemized, the strategy involves aligning with figures such as Travis Hunter and Jaylen Waddle to drive brand relevance and consumer trial.

Here's a quick look at the confirmed operational partnership metrics:

The Vita Coco Company, Inc. manages these external dependencies through a focus on operational agility. The company explicitly states it works with a wide array of stakeholders, including:

• Farmers and their communities.
• Packaging and ingredient suppliers.
• Co-manufacturers.
• Distributors.
• Retail partners.

Finance: review the Q4 2025 forecast for private label volume against the Q3 2025 actuals by next Tuesday.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Key Activities

You're looking at the core actions The Vita Coco Company, Inc. (COCO) must execute flawlessly to keep its growth engine running, especially given the cost environment we're seeing in late 2025. It's a high-wire act balancing global sourcing with aggressive brand building.

Managing a complex, global, tariff-mitigating supply chain

The operational backbone of The Vita Coco Company, Inc. (COCO) involves navigating a supply chain that is both global and subject to significant import duties. This requires constant management to keep product flowing and costs in check. For instance, the current weighted average tariff rate on coconut water shipping to the U.S. from the source country was estimated at a blended rate of approximately 23% at the end of the third quarter of 2025. This tariff pressure directly impacted profitability; the gross margin in the third quarter of 2025 was 38%, down from 39% in the prior year period, partly due to a $6 million tariff hit in the quarter. To counter this, the company is executing mitigation strategies, aiming for a full-year 2025 gross margin of approximately 36%, which factors in the tariff impact partially offset by other actions. Inventory management remains tight, with inventory levels reported at a healthy $84 million as of September 30, 2025. They are definitely working hard to keep the product on the shelf.

Key supply chain focus areas include:

• Navigating increased finished goods product costs versus 2024.
• Managing the impact of baseline 10% import tariffs announced earlier in the year.
• Maintaining healthy inventory levels to support strong volume growth.
• Achieving slightly lower logistics costs year-over-year in the full-year 2025 outlook.

Aggressive brand development and marketing investment

To drive the strong consumer demand seen across the category, The Vita Coco Company, Inc. (COCO) is putting significant capital behind its brands. This investment shows up clearly in the Selling, General and Administrative (SG&A) expenses. For the third quarter of 2025, SG&A expenses hit $41 million, a notable jump from $31 million in the prior year period. Management explicitly stated this increase was largely due to increased people-related expenses and marketing investment. Looking ahead, the full-year 2025 guidance anticipates SG&A to increase by a high single digits percentage, reflecting this sustained commitment to brand building. The coconut water category itself is accelerating, growing 22% year-to-date in the U.S. and 32% in the U.K. as of late 2025, which justifies this spending.

Product innovation and rollout, like the U.S. launch of Vita Coco Treats

Innovation is a critical activity, expanding beyond the core coconut water offering. The national launch of Vita Coco Treats in the U.S. is a prime example of this focus. This new product line fueled massive growth in the Other category, which saw an 182% increase in the third quarter of 2025. The success of this rollout contributed to the overall net sales increase for the quarter. Meanwhile, the core Vita Coco Coconut Water brand continues to perform exceptionally well; in the Americas, net sales rose 41% to $132 million in Q3 2025. Year-to-date, Vita Coco Coconut Water is growing 21% in retail dollars in the U.S. This dual focus-nurturing the core while launching new formats-is central to their strategy.

Here's a snapshot of the Q3 2025 operational performance:

Executing strategic price increases to offset cost pressures

To manage the headwinds from tariffs and higher product costs, The Vita Coco Company, Inc. (COCO) has actively used strategic pricing. This is a direct response to inflation and external costs. Management executed two specific price increases in the U.S. during 2025: one in mid-May to address general cost inflation and another in mid-July specifically to counteract the impact of new tariffs. The cumulative effect of these actions resulted in an on-shelf price increase of about 7% over two years. These pricing actions, alongside higher case equivalent volumes, were key drivers in increasing the third-quarter gross profit to $69 million, even as the gross margin compressed slightly to 38%. This shows you they are using pricing power to protect the top line, which is essential when facing a 23% blended tariff rate.

Price realization details:

• Mid-May 2025 price adjustment for inflation.
• Mid-July 2025 price adjustment for tariffs.
• Cumulative on-shelf increase of about 7% over two years.
• Pricing partially offset the $6 million tariff hit in Q3 2025.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Key Resources

You're looking at the core assets that power The Vita Coco Company, Inc.'s operation as of late 2025. These aren't just items on a balance sheet; they're the engines driving their market position.

Flagship Vita Coco brand, the U.S. coconut water category leader.

The primary resource is definitely the Vita Coco brand itself, which commands the U.S. coconut water category. This brand strength translates directly into pricing power, letting the company navigate cost pressures. For instance, management implemented two price increases in 2025 to offset inflation and tariffs. The brand's dominance is clear:

• U.S. coconut water market share is over 50%.
• Vita Coco Coconut Water net sales grew 42% in the third quarter of 2025.
• Year-to-date net sales for Vita Coco Coconut Water were up 31% as of Q3 2025.

Strong balance sheet with $204 million in cash and no debt (Q3 2025).

Financial fortitude is a massive resource, giving The Vita Coco Company, Inc. flexibility for investment and defense against volatility. As of September 30, 2025, the company's cash position was substantial, and they carried no debt on their revolving credit facility. Here's a quick snapshot of the balance sheet strength from that period:

This healthy position allowed for a share repurchase program, with $42 million remaining authorized as of the end of Q3 2025.

Asset-light model with no owned manufacturing facilities.

The Vita Coco Company, Inc. intentionally avoids owning manufacturing plants; that's a core part of its operational design. This asset-light supply chain model is key for flexibility and scalability. Instead of capital expenditure on facilities, they focus resources on brand development and marketing.

• Sourcing occurs through a global network of 17 factories.
• These factories are located across seven countries.
• The company uses co-packers in America and Europe for local packaging and repacking.

This structure helps them react faster to market shifts, though they still face risks like tariff impacts, with a blended rate of about 23% on applicable shipments as of Q3 2025.

Diverse brand portfolio: Vita Coco, Ever & Ever, and PWR LIFT.

Diversification beyond the core coconut water is a growing resource, reducing reliance on a single SKU. The portfolio is expanding into adjacent health-focused segments.

The brand mix as of late 2025 includes:

• Vita Coco Coconut Water: The core revenue driver.
• Vita Coco Treats: Saw 182% growth in the Other category in Q3 2025 due to its national rollout.
• Ever & Ever: Offers products like coconut milk and coconut oil.
• PWR LIFT: Protein-infused fitness drinks.

The Other category growth, largely from Vita Coco Treats, was 182% in the third quarter. Finance: draft 13-week cash view by Friday.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why consumers choose The Vita Coco Company, Inc. over competitors in late 2025. It really boils down to a few clear, data-backed advantages that resonate with today's health and environmentally-aware buyer.

Natural, premium hydration with 3.5 times the electrolytes of leading sports drinks.

The primary draw is the natural electrolyte density. Vita Coco Original Coconut Water delivers 1149mg of electrolytes per 500ml. That's a direct comparison point: the brand claims this is 3.5 times the amount found in the leading sports drink. Furthermore, consumers get this benefit without the synthetic ingredients; the product contains natural sugars, not artificial sweeteners, and has lower sodium content compared to some sports drinks. This focus on natural sourcing is a key differentiator, especially when athletes like Amanda Anisimova and Jaylen Waddle cite it as essential for recovery and staying locked in during tough practices.

Better-for-you beverage platform appealing to health-conscious consumers.

The Vita Coco Company, Inc. isn't just one product anymore; it's a platform of better-for-you beverages. This strategy is clearly working, as year-to-date net sales through Q3 2025 reached $482 million, marking a 24% increase year-over-year. Management raised the full fiscal year 2025 net sales guidance to a range between $580 million and $595 million. This growth is fueled by the core Vita Coco Coconut Water, which saw net sales grow 42% in the third quarter alone. The platform includes distinct offerings designed for different needs.

Here's a quick look at the platform's structure as of late 2025:

The company's projected full-year 2025 Adjusted EBITDA is between $86 million and $92 million. That's a solid financial return supporting the better-for-you mission.

Sustainability alignment via B Corp certification and eco-conscious packaging.

The commitment to purpose is formalized through its status as a Certified B Corporation. The Vita Coco Company, Inc. earned an overall B Impact Score of 100.9 on its latest assessment. To give you context, the median score for ordinary businesses completing the assessment is 50.9. This commitment is ongoing; after a 2023 recertification, the score improved to 103.1. The company has a clear environmental goal: helping to distribute up to 10 million seedlings worldwide by 2030 through its Seedlings for Sustainability initiative. By the end of 2024, they had already helped distribute over 1 million seedlings. On the packaging front, approximately 97% of primary packaging materials met their responsible packaging definition in 2024. They also completed two water-reduction projects estimated to conserve 1.5 million liters annually.

Convenience through diverse packaging formats and multipacks.

While specific 2025 sales data for multipacks isn't public, the value proposition of convenience is supported by the breadth of the portfolio and its availability across channels. The platform approach itself-offering coconut water, protein water, and enhanced water-addresses different consumption occasions, from post-workout recovery to general daily hydration. The company is actively driving growth through the national rollout of new products like Vita Coco Treats, which adds to the variety available to the consumer.

• The core product is available in formats that support on-the-go consumption.
• The portfolio expansion into PWR LIFT and Treats diversifies usage occasions.
• The brand maintains a strong U.S. market share of 44.5% in the coconut water category.

Finance: draft 13-week cash view by Friday.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Customer Relationships

You're looking at how The Vita Coco Company, Inc. keeps its customers engaged and buying, which is key when you're leading a booming category. The relationship management here is a mix of big brand presence and direct retailer support.

Brand-building through experiential marketing (e.g., pop-ups).

The Vita Coco Company, Inc. invests significantly to keep the brand top-of-mind, positioning health as enjoyable. Marketing and promotional expenses totaled $31,343 thousand for the fiscal year ending December 31, 2024. For the third quarter of 2025, Selling, general and administrative (SG&A) expenses rose to $41 million, up from $31 million in the third quarter of 2024, with increased marketing investment being a primary driver. Past tactics to create buzz included things like a talking coconut head at retail and coconut scavenger hunts offering prizes, all aimed at presenting wellness as fun rather than serious.

High-touch relationship management with key retail and foodservice accounts.

Managing relationships with major buyers is critical for shelf space and volume commitments. As of early 2024, The Vita Coco Company, Inc.'s distribution network included approximately 4,742 Walmart stores and 1,948 Target stores in the U.S. alone. The company is actively working on deepening these ties, with management noting potential distribution expansions in Walmart by the fourth quarter of 2025. This high-touch approach ensures product availability where consumers shop.

The company's international investment strategy includes increasing 'boots on the ground' personnel for market development and sales in key regions like Europe.

Transactional efficiency via e-commerce and mass retail channels.

For day-to-day transactions, efficiency is paramount, especially in high-volume channels. The Vita Coco Company, Inc. utilizes major online marketplaces like Amazon and its own direct-to-consumer website, vitacoco.com, alongside online grocery platforms. While the core brand drives growth, the private label business also contributes to transactional volume, showing 6% growth in net sales in the third quarter of 2025, even as the company prioritizes branded products. The Americas segment saw Vita Coco Coconut Water net sales rise 41% to $132 million in Q3 2025, reflecting strong mass retail pull.

Loyalty driven by category leadership and product quality.

Customer loyalty stems directly from owning the coconut water category and delivering consistent quality. The Vita Coco brand holds a commanding market share, reaching 41.7% of the coconut water segment in the first quarter of 2025. This leadership is supported by category momentum; the coconut water segment grew 23% in volume in Q1 2025. In the U.K., the brand's share is even higher at 82%. The company is executing two price increases in the U.S. in 2025 to offset costs, which, combined with strong volume, resulted in Vita Coco Coconut Water net sales growing 42% year-over-year in Q3 2025.

Here are some key performance indicators reflecting customer engagement and market standing:

• Coconut Water Category Growth (U.S. YTD Q3 2025): 22%.
• Vita Coco Coconut Water Retail Dollar Growth (U.S. YTD Q3 2025): 21%.
• International Segment Net Sales Growth (Q3 2025): 48%.
• New Product Contribution (Vita Coco Treats) to Other Category Growth (Q3 2025): 182%.

The relationship strength can be seen in the financial results tied to brand performance:

The company is banking on this category leadership to drive continued high-teens growth for the core brand through the rest of 2025.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Channels

You're looking at how The Vita Coco Company, Inc. gets its products into the hands of consumers as of late 2025. The strategy is clearly multi-pronged, balancing traditional high-volume retail with newer growth avenues, all while navigating supply chain costs like the ongoing tariff situation.

Mass Retail and Grocery Stores (Food, Drug, Mass, Club)

This remains the core engine for The Vita Coco Company, Inc., driving the bulk of the net sales. The company has seen significant acceleration in its branded coconut water sales across these channels, even as it manages the strategic shift away from certain private label business.

For the third quarter ended September 30, 2025, The Vita Coco Company, Inc. reported consolidated net sales of $182 million, a 37% increase year-over-year. The primary driver was Vita Coco Coconut Water, which saw net sales jump 42% in the quarter. Even with the headwinds from the Walmart reset mentioned earlier in the year, Q3 performance benefited from the restoration of a key club retailer promotion.

The strength in the core brand is reflected in category performance data. Year-to-date in the U.S., the coconut water category grew 22%, with The Vita Coco Company, Inc.'s branded retail dollar growth hitting 21%. Internationally, the momentum is even stronger, with the U.K. category up 32% and Germany showing over 100% growth. In the Americas segment for Q3 2025, Vita Coco Coconut Water net sales reached $132 million, supported by a 30% volume increase.

The channel mix is shifting, with Private Label sales only increasing 6% in Q3 2025, contrasting with the branded growth. This signals a deliberate focus on higher-margin, brand-building placements over lower-margin contract business.

Here's a look at the recent performance metrics that reflect channel execution:

E-commerce Platforms for Direct-to-Consumer and Bulk Sales

The direct-to-consumer (DTC) channel, accessible via vitacoco.com and other e-commerce platforms like Amazon, supports brand engagement and provides an outlet for bulk purchases. While specific revenue figures for the DTC channel aren't broken out separately from the overall retail sales, the company has noted the strength of its online business.

The company's PowerLift brand maintains a healthy online business, and management is focused on building the online community to gather learnings for future shelf expansion. Furthermore, new product introductions, like the Piña Colada Coconut Juice, are made available online at vitacoco.com and Amazon to capture early demand.

• DTC availability includes subscription options for core products like Farmers Organic Coconut Water, with pricing options such as $33.00 for a 1-month delivery of a 12-count pack, with discounted subscription prices like $29.70.
• The company offers free shipping on U.S. orders above $30.00 (excluding HI and AK) to incentivize online volume.

Foodservice and On-Premise Locations (Fitness Clubs, Airports, Offices)

The foodservice channel is explicitly called out as underdeveloped and a long-term growth opportunity. The Vita Coco Company, Inc. is placing significant focus here, targeting venues where consumers seek immediate, healthy hydration.

The company is actively making progress in securing placements across several on-premise locations:

• Hotels
• Hospitals
• College campuses
• Schools
• Managing the broad-line food distributor network

This channel allows The Vita Coco Company, Inc. to capture consumption occasions outside of the traditional grocery store shelf, such as post-workout or on-the-go hydration.

Strategic Distribution Resets, Such as the Mid-November Walmart Juice Aisle Plan

Distribution strategy involves constant negotiation and resets with major retailers. The impact of these resets is felt across multiple quarters. For instance, Q1 2025 saw headwinds from the Walmart reset, but by Q2, management noted these headwinds were easing with improving in-store execution.

The company's full-year 2025 guidance, raised to a range of $580 million to $595 million in net sales, reflects confidence that these distribution adjustments are either resolved or are expected to yield positive results in the latter part of the year. The mention of potential distribution expansions in Walmart by Q4 suggests that any mid-November plan would be aimed at securing favorable shelf space or promotional support heading into the next fiscal year, building on the Q3 benefit seen from a club retailer promotion restoration.

The two U.S. price increases taken in 2025-mid-May for inflation and mid-July for tariffs-were also channel-specific actions designed to maintain profitability despite external pressures, resulting in a cumulative on-shelf increase of about 7% over two years.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Customer Segments

The core customer base for The Vita Coco Company, Inc. is health-focused consumers actively seeking natural and functional hydration options. This segment is driving significant category expansion; the coconut water category grew 22% year-to-date in the U.S. and 32% in the U.K. based on Circana data as of late 2025.

The demographics prioritizing wellness and performance, which includes Gen Z and millennials, are key drivers behind this brand growth. The company is seeing 'very strong retail growth for our brand' with Vita Coco Coconut Water growing 21% in retail dollars in the U.S. year-to-date. The overall Vita Coco Coconut Water net sales grew 42% globally in the third quarter of 2025.

Performance across key geographic markets shows a strong international focus, with the company seeing accelerating adoption in Europe.

The customer segments can be broadly categorized by their purchasing behavior and geography:

• Health-conscious individuals seeking natural hydration.
• Younger consumers (Gen Z/Millennials) focused on performance beverages.
• International consumers, with the U.K. holding over 80% market share and Germany showing triple-digit growth.
• Retail partners purchasing branded product for shelf space.
• Food companies and retailers buying private label and bulk coconut products.

Retailers and food companies represent a distinct segment, engaging with The Vita Coco Company, Inc. for private label and bulk coconut products. While the company is strategically shifting focus toward its branded offerings, the private label business still contributed to top-line growth; private label net sales increased 6% in the third quarter of 2025. This contrasts with a 25% decline in private label sales reported in the second quarter of 2025, which was linked to the transition away from the private label oil business. The company's full-year 2025 net sales guidance is now projected between $580 million and $595 million.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Cost Structure

You're looking at the cost side of The Vita Coco Company, Inc.'s business as of late 2025, and it's clear that costs are heavily weighted toward getting the product made and shipped. The company is managing significant input and supply chain pressures, which directly impacts the bottom line.

The expected full-year 2025 Gross Margin is targeted at approximately 36%. This compares to the actual gross margin seen in the third quarter of 2025, which was 38% of net sales, down from 39% in the prior year period. To be fair, the second quarter of 2025 saw a lower gross margin of 36% compared to 41% in the prior year period, showing the pressure points throughout the year.

Here's a quick look at how the key cost drivers stack up based on recent performance and guidance:

The variable costs tied to finished goods and logistics are definitely front and center. The decrease in gross margin has consistently resulted from increased finished goods product costs and tariff costs. You'll note that in Q2 2025, higher year-on-year ocean freight rates were explicitly called out as a driver for the margin compression. Still, The Vita Coco Company, Inc. is seeing some relief; the full-year 2025 expectation includes the impact of current tariffs being partially offset by slightly lower logistics costs.

Selling, General, and Administrative (SG&A) expenses are also a major component, reflecting investment in the brand. For the third quarter of 2025, SG&A hit $41 million, up from $31 million in the prior year period. This increase was largely due to increased people-related expenses and marketing investment. The company is projecting this trend to continue, with full-year 2025 SG&A expenses expected to increase by high-single digits versus 2024, reflecting brand investment.

Tariffs have been a significant, though recently shifting, cost factor for The Vita Coco Company, Inc. because they import the bulk of their products. Before the late-year regulatory change, the company noted that the impact of current tariffs was a key factor in margin pressure.

Here's the tariff situation as of the latest reports:

• The company anticipated its average tariff rate on imported U.S. goods to peak at approximately 23%.
• In the third quarter of 2025, tariffs created a $6 million impact in the quarter, alongside the 10% baseline tariffs.
• Prior to the November 2025 regulatory change, one analyst estimate suggested tariffs could cause a gross profit decrease of $78 million for fiscal year 2025.
• A November 14, 2025, Executive Order modification provided relief, lowering the expected average tariff rate from the previously announced 23% to approximately 6% based on current sourcing and product mix, effective November 13, 2025.
• However, the 40% ad valorem duty on imports from Brazil is expected to continue for the time being.
• The company stated this late-year tariff relief is not expected to materially impact 2025 results because inventory already sold incurred the higher tariffs.

Finance: draft 13-week cash view by Friday.

The Vita Coco Company, Inc. (COCO) - Canvas Business Model: Revenue Streams

You're looking at how The Vita Coco Company, Inc. brings in money, which is heavily concentrated in its core coconut water brand. This is the top line of their income statement, the total cash coming in before any costs are taken out.

The primary revenue stream is clearly Branded product sales, led by Vita Coco Coconut Water. This brand is the engine, driving significant growth across their markets. For instance, year-to-date through the third quarter of 2025, Vita Coco Coconut Water net sales grew by 31%, and in the third quarter alone, that growth accelerated to 42%.

The company has shown confidence in this momentum, raising its outlook. Full-year 2025 Net Sales guided between $580 million and $595 million. This compares to the year-to-date net sales figure of $482 million as of September 30, 2025, which was achieved on net sales of $182 million in the third quarter. The trailing twelve months (TTM) revenue as of December 2025 is reported at $0.60 Billion USD.

The revenue mix also includes Sales of private label coconut water and coconut oil, though this segment appears to be facing headwinds or strategic reduction. In the second quarter of 2025, private label sales saw a notable contraction, decreasing by 25%. This contrasts with the International segment, where private label sales actually increased by 29% in that same quarter. Earlier in the year, the company noted a 12% decline in private label net sales, partly due to the transition away from private label coconut oil.

New product introductions are also contributing to the top line. The rollout of Vita Coco Treats, a coconutmilk-based drink, is factored into the guidance. In the second quarter of 2025, the other products category, which includes Treats, saw a 102% growth.

Here's a quick look at the key financial figures driving this revenue stream as of late 2025:

The company operates an asset-light supply chain, sourcing from 17 factories across seven countries, which helps maintain flexibility in meeting demand across these revenue streams.

Regarding Bulk sales of coconut products to other food and beverage companies, while the company sources from co-packers and has a B2B component in its supply chain, specific, publicly broken-out figures for bulk sales as a distinct revenue stream are not detailed in the same way as branded versus private label in the latest reports. The focus remains on the branded and private label product sales channels.

You should keep an eye on how the high teens growth projected for Vita Coco Coconut Water plays out against the expected softness or reduction in private label volumes for the remainder of the year.

• Branded sales are the primary driver of top-line performance.
• Private label revenue is currently experiencing softness or strategic reduction.
• New products like Vita Coco Treats are providing incremental revenue boosts.
• International segment growth is robust, contributing to overall net sales.