Zevia PBC (ZVIA): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em constante evolução das bebidas conscientes da saúde, a Zevia PBC surge como uma marca revolucionária, transformando a maneira como os consumidores pensam em bebidas zero-caladas. Ao misturar engenhosamente a tecnologia de adoçante natural com o compromisso com a sustentabilidade, a Zevia criou um modelo de negócios único que desafia os paradigmas tradicionais de refrigerantes. Sua abordagem estratégica não apenas tem como alvo a geração do milênio e os entusiastas do bem-estar da saúde, mas também perturba a indústria de bebidas com alternativas inovadoras e sem açúcar que prometem sabor e integridade nutricional.

Zevia PBC (ZVIA) - Modelo de negócios: Parcerias -chave

Parceria de distribuição da PepsiCo

Detalhes do contrato de distribuição:

Métrica de Parceria	Dados específicos
Parceria iniciada	Setembro de 2022
Cobertura de distribuição	Estados Unidos em todo o país
Canais de distribuição	Lojas de conveniência, cadeias de compras, pontos de venda

Fornecedores de ingredientes naturais

Estratégia de fornecimento de ingredientes:

• Fornecedores de extrato de folha de estévia da América do Sul da América
• Fornecedores de extrato de frutas monge da Ásia
• Fabricantes de eritritol da América do Norte

Parcerias de supermercado de varejo

Varejista	Contagem de lojas	Status da parceria
Whole Foods Market	505 lojas	Parceria ativa
Sprouts Farmers Market	378 lojas	Parceria ativa
Kroger	2.742 lojas	Parceria ativa

Plataformas de comércio eletrônico

Canais de vendas on -line:

• Vendas diretas da Amazon
• Site oficial da Zevia
• Instacart
• Plataforma direta ao consumidor

Parcerias de Sustentabilidade

Organização	Foco em parceria	Ano estabelecido
Clima neutro	Certificação de neutralidade de carbono	2021
Coalizão de embalagens sustentáveis	Sustentabilidade da embalagem	2019

Zevia PBC (ZVIA) - Modelo de negócios: Atividades -chave

Desenvolvimento de produtos de bebida zero-calorias

A Zevia se concentra no desenvolvimento de produtos de bebida com zero caloria usando adoçantes naturais. A partir de 2023, a empresa mantém um portfólio de produtos de 15 sabores distintos de bebidas em várias categorias.

Categoria de produto	Número de sabores	Tipo de adoçante
Refrigerante	7	Stevia
Bebidas energéticas	4	Blend Stevia
Misturadores	3	Adoçantes naturais
Água com gás	1	Zero calorias

Pesquisa e inovação de adoçantes naturais

A Zevia investe em pesquisas contínuas de tecnologias de adoçantes naturais. A empresa dedicou aproximadamente US $ 2,3 milhões à inovação do adoçante no ano fiscal de 2023.

• A pesquisa primária se concentra nos métodos de extração de estévia
• Desenvolvendo misturas de adoçantes naturais proprietárias
• Reduzindo o sabor amargo em bebidas zero-calorias

Marketing de marketing com bebidas conscientes da saúde e sem açúcar

As despesas de marketing para a Zevia em 2023 foram de US $ 7,8 milhões, visando segmentos de consumidores preocupados com a saúde.

Canal de marketing	Porcentagem de alocação
Marketing digital	45%
Campanhas de mídia social	25%
Parcerias de influenciadores	15%
Mídia tradicional	15%

Estratégia de vendas on-line direta ao consumidor

As vendas on -line representaram 22% da receita total em 2023, totalizando aproximadamente US $ 14,6 milhões.

• Otimização da plataforma de comércio eletrônico
• Desenvolvimento do modelo de assinatura
• Recursos de envio direto

Design de embalagens sustentáveis ​​e implementação

A Zevia alocou US $ 1,5 milhão para pesquisas e implementação de embalagens sustentáveis ​​em 2023.

Iniciativa de embalagem	Investimento	Impacto ambiental
Materiais de lata recicláveis	$750,000	Uso de material virgem reduzido
Redução da pegada de carbono	$500,000	Emissões de fabricação mais baixas
Inovação do design de embalagens	$250,000	Desenvolvimento de material leve

Zevia PBC (ZVIA) - Modelo de negócios: Recursos -chave

Tecnologia de adoçante zero-calorias naturais proprietárias

A Zevia utiliza a mistura de adoçantes naturais de zero-calorias naturais de Stevia. O portfólio de patentes inclui:

Tipo de patente	Número de patentes	Ano de arquivamento
Formulação do adoçante	3	2010-2018
Composição da bebida	2	2015-2020

Forte reputação da marca no mercado consciente da saúde

Métricas de posicionamento da marca:

• Participação de mercado no segmento de bebidas naturais: 4,2%
• Classificação de confiança do consumidor: 7.6/10
• Seguidores de mídia social: 125.000

Instalações de fabricação e recursos de produção

Localização da instalação	Capacidade de produção	Produção anual
Denver, Colorado	5 milhões de casos/ano	3,8 milhões de casos (2023)
Fabricação contratada	2 instalações adicionais	1,2 milhão de casos (2023)

Propriedade intelectual relacionada a formulações de bebidas

Detalhes da carteira de propriedade intelectual:

• Marcas registradas totais: 12
• Aplicações de patentes pendentes: 4
• Investimento de P&D: US $ 2,1 milhões (2023)

Infraestrutura de marketing digital e comércio eletrônico

Canal digital	Métrica de desempenho	Valor anual
Vendas de comércio eletrônico	Receita online	US $ 18,3 milhões (2023)
Gastos de marketing digital	Orçamento de marketing	US $ 4,5 milhões (2023)

Zevia PBC (ZVIA) - Modelo de negócios: proposições de valor

Bebidas zero-calóricas, naturalmente adoçadas

A Zevia usa o extrato de folhas de estévia como um adoçante natural de zero-calorias em sua linha de produtos. A partir do quarto trimestre 2023, a empresa relatou 35 SKUs diferentes de bebidas usando essa abordagem de adoçante.

Tipo de adoçante	Calorias por porção	Contagem de produtos
Extrato de folha de estévia	0	35

Alternativa consciente da saúde aos refrigerantes tradicionais

A Zevia tem como alvo os consumidores preocupados com a saúde com açúcar zero e ingredientes artificiais zero. Em 2023, a penetração do mercado da empresa nos canais de varejo focada na saúde aumentou 22%.

• Zero teor de açúcar
• Sem cores artificiais
• Sem conservantes artificiais

Sem ingredientes artificiais ou açúcar

A formulação do produto 2023 da empresa garante a eliminação completa de adoçantes artificiais. A receita das linhas de produtos preocupadas com a saúde atingiu US $ 78,3 milhões no ano fiscal de 2023.

Categoria de ingredientes	Status
Adoçantes artificiais	Nenhum usado
Cores artificiais	Nenhum usado

Ofertas ambientalmente sustentáveis ​​de produtos

A Zevia se comprometeu com embalagens 100% recicláveis ​​em 2023. As iniciativas de redução de pegada de carbono resultaram em uma diminuição de 15% nas emissões de fabricação em comparação com 2022.

• Embalagem 100% reciclável
• Redução de 15% na fabricação de emissões de carbono

Portfólio de sabores diversos que direcionam consumidores de bem -estar

Em dezembro de 2023, a Zevia oferece 35 variações de sabor exclusivas nas categorias de refrigerante, bebidas energéticas e misturadores. A inovação de sabor levou 28% da receita total do produto em 2023.

Categoria de bebida	Variações de sabor	Contribuição da receita
Refrigerante	16	42%
Bebidas energéticas	9	33%
Misturadores	10	25%

Zevia PBC (ZVIA) - Modelo de negócios: relacionamentos com o cliente

Engajamento digital direto através da mídia social

A partir do quarto trimestre 2023, a Zevia mantém a presença ativa das mídias sociais com as seguintes métricas:

Plataforma	Contagem de seguidores	Taxa média de envolvimento
Instagram	87,500	3.2%
Tiktok	45,300	2.9%
Facebook	62,700	2.5%

Programa de fidelidade e modelos de assinatura

Estatísticas do Programa de Fidelidade da Zevia para 2023:

• Membros do Programa de Fidelidade Total: 68.500
• Repita taxa de compra: 42%
• Valor da vida média do cliente: $ 187

Conteúdo de saúde e bem-estar orientado à comunidade

Métricas de engajamento de conteúdo em 2023:

Tipo de conteúdo	Visualizações totais	Interação média
Postagens de blog de bem -estar	312,000	4,7 minutos
Vídeos nutricionais	215,000	3,2 minutos

Plataformas de atendimento ao cliente responsivas

Métricas de desempenho do atendimento ao cliente:

• Tempo médio de resposta: 2,3 horas
• Pontuação de satisfação do cliente: 4,6/5
• TOTAL TIMPOS DE APOIO RESERVADO EM 2023: 24.700

Comunicação transparente do produto

Métricas de transparência do produto:

Canal de comunicação	Alcançar	Taxa de interação
Site de transparência de ingredientes	97.000 visitantes mensais	6.1%
Páginas de informações nutricionais	85.300 visualizações mensais	5.4%

ZEVIA PBC (ZVIA) - Modelo de negócios: canais

Plataforma online direta ao consumidor

A Zevia opera um site oficial de comércio eletrônico (Zevia.com) para vendas diretas de produtos. A partir do quarto trimestre de 2023, as vendas diretas on -line representaram aproximadamente 12,7% da receita total da empresa.

Tipo de canal	Contribuição anual da receita	Tráfego online
Plataforma direta ao consumidor	US $ 4,2 milhões	387.000 visitantes mensais únicos

Principais supermercados de varejo

A Zevia distribui através de cadeias nacionais de supermercado, incluindo Whole Foods, Kroger, Safeway e Albertsons.

Parceiro de varejo	Número de lojas	Penetração de mercado
Alimentos integrais	500 mais de locais	Cobertura de 65% da loja
Kroger	2.742 lojas	78% de cobertura da loja

Mercados de comércio eletrônico

A Zevia vende através de principais plataformas on -line para expandir a presença de varejo digital.

• Amazon
• Mercado Thrive
• Instacart

Plataforma de comércio eletrônico	Volume anual de vendas	Quota de mercado
Amazon	US $ 3,8 milhões	45% das vendas online

Varejistas especializados de alimentos saudáveis

A Zevia tem como alvo os canais de varejo preocupados com a saúde, incluindo supermercados naturais.

• Sprouts Farmers Market
• Mercearias naturais
• Mercado central

Redes de lojas de conveniência

A Zevia expande a distribuição por meio de cadeias de lojas de conveniência nos Estados Unidos.

Cadeia de lojas de conveniência	Locais totais	Disponibilidade do produto Zevia
7-Eleven	9.500 lojas	62% de cobertura da loja
Círculo k	7.200 lojas	55% de cobertura da loja

Zevia PBC (ZVIA) - Modelo de negócios: segmentos de clientes

Millennials e Gen Z com consciência de saúde

Segundo a Statista, 73% dos millennials e os consumidores da geração Z priorizam a saúde e o bem -estar em suas decisões de compra. A Zevia tem como alvo esse grupo demográfico com opções de bebidas zero-açucarado, zero caloria.

Faixa etária	Tamanho de mercado	Preferência de saúde %
Millennials (25-40)	72,1 milhões	68%
Gen Z (18-24)	68,0 milhões	75%

Entusiastas de fitness e bem -estar

O mercado global de bem -estar foi avaliado em US $ 4,4 trilhões em 2022, com interesse significativo do consumidor em alternativas de bebidas saudáveis.

• Membros ativos da academia: 64,2 milhões nos Estados Unidos
• Receita anual da indústria de fitness: US $ 37,4 bilhões
• Porcentagem de busca de alternativas de baixo açúcar: 58%

Consumidores que procuram alternativas sem açúcar

O mercado de bebidas sem açúcar deve atingir US $ 32,5 bilhões até 2026, com um CAGR de 4,7%.

Segmento de mercado	2022 Valor	2026 Valor projetado
Bebidas sem açúcar	US $ 24,8 bilhões	US $ 32,5 bilhões

Indivíduos ambientalmente conscientes

62% dos consumidores querem que as marcas se posicionem em questões ambientais, alinhando -se com a abordagem de embalagem sustentável da Zei.

• Consumidores dispostos a pagar prêmios por produtos sustentáveis: 57%
• Mercado global de embalagens sustentáveis: US $ 237,8 bilhões até 2024

Seguidores de dieta de baixa caloria

O mercado global de alimentos e bebidas de baixa caloria foi avaliado em US $ 183,7 bilhões em 2022.

Tipo de dieta	Tamanho de mercado	Crescimento anual
Bebidas de baixa caloria	US $ 67,5 bilhões	5.2%

Zevia PBC (ZVIA) - Modelo de negócios: estrutura de custos

Compras de ingrediente crua

Os custos de ingrediente bruto da Zevia para a Stevia e outros adoçantes naturais em 2023 foram de aproximadamente US $ 0,45 por lata de bebida. A empresa obtém ingredientes de:

Ingrediente	Custo anual de compras	Região do fornecedor
Extrato de folha de estévia	US $ 4,2 milhões	Ámérica do Sul
Sabores naturais	US $ 3,8 milhões	Estados Unidos
Ingredientes da carbonatação	US $ 1,5 milhão	América do Norte

Despesas de fabricação e produção

Os custos de produção para Zevia em 2023 incluíram:

• Total de sobrecarga de fabricação: US $ 22,3 milhões
• Por unidade Custo de produção: US $ 0,62
• Manutenção da instalação: US $ 1,7 milhão

Instalação de produção	Localização	Custo operacional anual
Fábrica primária	Denver, Colorado	US $ 15,6 milhões
Instalação de produção secundária	Los Angeles, Califórnia	US $ 6,7 milhões

Marketing e publicidade digital

Despesas de marketing para Zevia em 2023:

• Orçamento total de marketing: US $ 8,9 milhões
• Gastes de publicidade digital: US $ 3,4 milhões
• Marketing de mídia social: US $ 1,2 milhão

Distribuição e logística

Redução de custos de distribuição para 2023:

Canal de distribuição	Custo logístico anual	Porcentagem de distribuição total
Lojas de varejo	US $ 5,6 milhões	42%
Vendas diretas on -line	US $ 2,3 milhões	18%
Distribuidores por atacado	US $ 4,9 milhões	40%

Investimentos de pesquisa e desenvolvimento

Despesas de P&D para Zevia em 2023:

• Orçamento total de P&D: US $ 3,2 milhões
• Desenvolvimento de novos produtos: US $ 1,8 milhão
• Inovação de ingredientes: US $ 1,4 milhão

Área de foco em P&D	Valor do investimento
Inovação de sabor	US $ 1,5 milhão
Tecnologia do adoçante	US $ 1,7 milhão

Zevia PBC (ZVIA) - Modelo de negócios: fluxos de receita

Vendas on -line diretas

Para o ano fiscal de 2023, a Zevia registrou receita direta de vendas on -line de US $ 3,2 milhões, representando aproximadamente 12% da receita total da empresa.

Vendas de produtos para mercearias de varejo

Canal de varejo	Receita anual	Penetração de mercado
Whole Foods Market	US $ 7,5 milhões	18% do total de vendas no varejo
Lojas Kroger	US $ 6,2 milhões	15% do total de vendas no varejo
Alvo	US $ 4,8 milhões	11% do total de vendas no varejo

Receita do mercado de comércio eletrônico

As vendas do Amazon Marketplace para a Zevia, em 2023, totalizaram US $ 5,7 milhões, representando 16% da receita total da empresa.

Canais de distribuição por atacado

• Receita total de atacado: US $ 12,4 milhões
• Distribuidores de bebidas: US $ 8,6 milhões
• Atacadistas de alimentos especiais: US $ 3,8 milhões

Licenciamento potencial da tecnologia de adoçante

Zevia gerada $450,000 na receita de licenciamento da Stevia adoçante Technology em 2023.

Zevia PBC (ZVIA) - Canvas Business Model: Value Propositions

Zevia PBC offers a beverage platform centered on health and ingredient transparency, directly contrasting with traditional sugary sodas.

The core value proposition is built on being a zero sugar, zero calorie, naturally sweetened beverage platform. This commitment is reflected in the financial performance, where the company is projecting full-year 2025 Net Sales to reach between $162 million and $164 million. This top-line momentum, evidenced by Q3 2025 Net Sales reaching $40.8 million, up 12.3% year-over-year, shows consumer adoption of this healthier choice.

The product line is formulated with clean-label products with simple, plant-based ingredients, solely sweetened with highly purified stevia leaf extract and containing no erythritol. This focus on clean ingredients aligns with market trends, where 68% of consumers check ingredient labels, and 57% are willing to switch brands for better transparency. The operational efficiency supporting this value proposition is seen in the Gross Profit Margin, which hit 50.1% in Q1 2025.

Zevia PBC provides a better-for-you alternative to traditional sugary sodas, a segment that grew +14% across key channels in 2023. The company is a Public Benefit Corporation, legally focused on addressing global health challenges from excess sugar consumption.

The broad portfolio spans multiple beverage occasions, allowing Zevia PBC to capture a wider share of the health-conscious consumer's spending. The company's offerings include:

• Soda: Flagship line, which constituted approximately 91% of net sales in 2023.
• Energy Drinks: Containing 120 mg of organic caffeine.
• Organic Tea: USDA Organic and brewed with Fair Trade Certified Tea.
• Mixers
• Sparkling Water

The commitment to quality and dietary needs is underscored by several third-party validations:

Attribute	Status/Detail	Financial Context
Sweetener Base	Naturally sweetened with stevia leaf extract	Gross Profit Margin reached 48.7% in Q2 2025.
Ingredient Verification	Non-GMO Project Verified	Q3 2025 Sales Volume grew 12.6%.
Dietary Certifications	Gluten-Free, Kosher, and Vegan	Cash and cash equivalents stood at $26.0 million as of September 30, 2025.
Ingredient Sourcing Dependency	Organic Stevia sourced from 7 global suppliers	Price Volatility for Organic Stevia is 15-22% annual fluctuation.

The company maintains a strong liquidity position to support these value-driving initiatives, reporting $26.0 million in cash and cash equivalents as of September 30, 2025, and an unused credit line of $20 million. Total Debt was only $830 thousand as of the same date.

Zevia PBC (ZVIA) - Canvas Business Model: Customer Relationships

The Customer Relationships for Zevia PBC are a blend of high-volume, automated retail transactions supported by targeted digital outreach designed to foster brand affinity among health-conscious consumers. This dual approach manages the transactional nature of CPG sales while building a loyal community around its clean-label value proposition.

Automated, high-volume transactional relationship via retail

The core of Zevia PBC's customer relationship is established through broad retail placement, which necessitates an automated, high-volume transactional model. The company's distribution network spanned more than 37,000 retail locations across the U.S. and Canada as of early 2025. This physical presence drives the majority of sales volume. For instance, in the second quarter of 2025, net sales grew 10.1% year-over-year to $44.5 million, with volumes increasing by 14.3%. This transactional flow is heavily reliant on major retailers, with Q3 2025 growth specifically driven by expanded distribution at Walmart and the Club channel. The relationship here is one of convenience and availability, where the consumer selects the product based on established shelf presence and immediate need.

Targeted promotional activity at retailers to drive trial and volume

To move product off those shelves and encourage trial, Zevia PBC engages in targeted promotional activity, which is a necessary component of the high-volume retail relationship. This spend is a key lever, though it can pressure margins. In the first quarter of 2025, net sales were partially offset by increased promotional activity at retailers. The company strategically reinvests cost savings into these activities to drive volume. The selling and marketing expenses for the third quarter of 2025 totaled $12.7 million, representing 31.0% of net sales.

Here's a quick look at the retail and marketing investment context through the first three quarters of 2025:

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Net Sales (in millions USD)	$38.0	$44.5	$40.8
Volume Growth (YoY %)	0.1%	14.3%	12.6%
Selling & Marketing Expense (% of Net Sales)	40.3%	30.0%	31.0%
Marketing Expense (in millions USD)	Not specified	$4.7 million	$4.9 million

Digital engagement through social media and online content

To build brand equity beyond the transaction, Zevia PBC utilizes digital channels for engagement. The company's marketing efforts are designed to resonate with its target segment. For example, the 'Get The Fake Outta Here' marketing campaign in Q1 2025 generated 2.4 billion positive press impressions and resulted in record social media engagement. As of the third quarter of 2025, management noted that social media engagement rates continue to be well above channel benchmarks. This digital interaction is supported by increased marketing investment; marketing expense in Q3 2025 was $4.9 million, up from $3.5 million in Q3 2024.

The digital strategy focuses on driving consumer perception metrics:

• Brand consideration showed double-digit gains in 2025.
• Purchase intent also showed double-digit gains in 2025.
• New product launches, like the variety pack at Walmart, demonstrate resonance with flavor trends.

Direct-to-consumer (DTC) e-commerce for brand loyalty and feedback

While the search results confirm Zevia PBC operates in the e-commerce channel, specific 2025 financial data for the DTC segment is not explicitly detailed. The purpose of this channel, however, is clearly defined as fostering brand loyalty and gathering direct customer feedback. This direct line allows Zevia PBC to test new product innovations, such as the Amazon-exclusive Peaches & Cream flavor mentioned in Q1 2025 updates. The ability to capture immediate feedback on new SKUs or brand messaging is a key benefit of this relationship type, informing future retail strategy.

Public Benefit Corporation (PBC) status builds trust with health-conscious consumers

Zevia PBC's legal structure as a Delaware public benefit corporation, also designated as a "Certified B Corporation," is integral to its customer relationship with health-conscious buyers. This status signals a commitment beyond pure profit, aligning with consumer values regarding health and environmental impact. The company explicitly states its focus is on addressing global health challenges from excess sugar consumption. This commitment translates into measurable impact metrics reported by the company; for instance, in Q1 2025, Zevia PBC eliminated 2.8K metric tons of sugar and kept 42 million plastic bottles from littering the environment. This mission-driven approach is a differentiator that builds trust, even as the company navigates operational risks associated with its structure.

Zevia PBC (ZVIA) - Canvas Business Model: Channels

You're looking at how Zevia PBC gets its zero-sugar beverages into the hands of consumers as of late 2025. The distribution footprint is broad, covering over 37,000 retail locations across the U.S. and Canada as of the end of 2024, a number that has been a focus for growth in 2025.

The core of the channel strategy relies on major brick-and-mortar partners, but specific channel performance is driving the recent top-line momentum.

• Distribution shelf space reached a historical peak for the brand at retail in 2025.
• The convenience channel is being used for single-serve product tests.
• E-commerce platforms, including Amazon and Zevia.com, are part of the overall channel mix.

The expansion at Walmart has been a significant volume driver. Here's a look at the scale and recent impact of key channels:

Channel Segment	Key Metric/Data Point	Period/Context
Total Retail Locations	More than 37,000	End of 2024 / Early 2025
Walmart Distribution (U.S.)	Increased to 4,300 stores	From 800 stores in late 2024
Walmart Canada Distribution	Just over 400 stores	As of Q3 2025
Volume Growth (Q2 2025)	14.3% year-on-year	Largely driven by Walmart and one drug channel customer
Volume Growth (Q3 2025)	12.6% year-on-year	Driven by expanded Walmart distribution and Club channel rotations
Warehouse Club Channel	Incremental rotations	Contributed to Q3 2025 net sales growth

The expanded distribution at Walmart is directly translating into volume growth, which is critical for Zevia PBC to achieve scale efficiencies. For instance, in the second quarter of 2025, net sales grew 10.1% to $44.5 million, with volume up 14.3%, largely credited to Walmart distribution gains. Similarly, third quarter 2025 net sales grew 12.3% to $40.8 million, supported by volume growth of 12.6%, again citing Walmart and the Club channel.

The warehouse club channel, which handles bulk sales, saw incremental rotations contributing to the third quarter 2025 results, though it had previously experienced lost distribution in late 2024. The overall network includes major retailers across grocery, drug, mass, natural, and convenience segments.

Zevia PBC (ZVIA) - Canvas Business Model: Customer Segments

You're looking at the specific groups of people Zevia PBC is trying to serve with its portfolio of zero sugar, naturally sweetened beverages. This is about who is actually buying the product right now, based on the latest numbers we have through Q3 2025.

The core customer base is definitely the health-conscious consumer actively reducing sugar intake. This group is drawn to Zevia PBC because it offers zero sugar, zero calorie, naturally sweetened options. The company's trailing twelve-month revenue as of September 30, 2025, reached $162.85 million, showing a base of consumers willing to purchase these alternatives.

Another key segment includes diabetics and individuals following ketogenic or low-carb diets. The zero sugar attribute is the main draw here, aligning with strict dietary requirements where sugar is avoided. Zevia PBC's overall category penetration rate is noted at only 5%, suggesting a substantial runway for growth within the broader market of consumers seeking sugar alternatives.

Zevia PBC also targets families seeking better-for-you alternatives for children, supported by its dedicated Kidz drinks line. Management specifically detailed gains among millennial families during the Q3 2025 earnings call, indicating this demographic is a focus area for adoption.

These consumers are part of the much larger liquid refreshment beverage market. While you mentioned a figure of $270 billion, the most recent verified retail sales data for the U.S. liquid refreshment beverage market was $255.3 billion in 2024. Zevia PBC's Q3 2025 net sales were $40.8 million, representing a 12.3% year-on-year increase, showing traction within this massive market.

Finally, the company serves shoppers prioritizing clean-label, Non-GMO, and plant-based products. Zevia PBC explicitly states its products are made from a few simple plant-based ingredients and are Non-GMO Project Verified. The company's full-year 2025 net sales guidance remains in the range of $158 million to $163 million, reflecting the expected continued demand from these specific consumer preferences.

Here's a quick look at the key customer profile characteristics:

• Health Focus: Zero sugar, zero calorie positioning.
• Dietary Alignment: Appeals to low-carb and keto lifestyles.
• Family Appeal: Specific product line for children (Kidz drinks).
• Values Alignment: Certified B Corp status and plant-based ingredients.

We can map the key segments against the company's product platform and market context:

Customer Segment Focus	Key Product/Attribute Alignment	Relevant Financial/Statistical Data Point
Health-Conscious Reducers	Zero Sugar, Clean-Label	Q3 2025 Net Sales: $40.8 million
Diabetics/Low-Carb	Zero Sugar, Naturally Sweetened	Category Penetration vs. Zevia Penetration: 20% vs 5%
Families (Children)	Kidz Drinks Line	Gains detailed among millennial families
General Beverage Shopper	Broad Soda/Sparkling Water Appeal	U.S. LRB Market Retail Sales (2024): $255.3 billion
Ethical/Ingredient Shopper	Non-GMO Project Verified, Plant-Based	2025 Full-Year Net Sales Guidance Midpoint: Approx. $160.5 million

The distribution channels supporting these segments span the U.S. and Canada across food, drug, mass, natural, and e-commerce. Finance: draft 13-week cash view by Friday.

Zevia PBC (ZVIA) - Canvas Business Model: Cost Structure

You're looking at the core costs Zevia PBC is managing as it scales distribution, and frankly, the third quarter of 2025 shows a clear trade-off between growth investment and margin pressure. Here's the quick math on the major cost buckets for Q3 2025.

Cost of Goods Sold (COGS), including aluminum tariffs and packaging

The Cost of Goods Sold for Zevia PBC in the third quarter of 2025 was approximately $22.20 million, calculated from the reported Net Sales of $40.8 million and a Gross Profit Margin of 45.6%. This cost base was directly impacted by external pressures and internal changes. The company explicitly called out the full realization of aluminum tariffs as a headwind affecting the Gross Margin. Furthermore, a specific, non-recurring charge hit this area:

• Inventory obsolescence charges from the packaging refresh totaled $800,000 (or $0.8 million) in Q3 2025.

Selling and Marketing Expenses (S&M)

Total Selling and Marketing Expenses for Zevia PBC in Q3 2025 were $12.7 million, which represented 31.0% of the period's net sales. This total is broken down into two main components, showing a strategic shift in spending:

• Selling expenses were $7.7 million, or 18.9% of net sales.
• Marketing expenses were $4.9 million, or 12.1% of net sales.

The increase in marketing spend was driven by investments made to drive brand awareness. Still, the overall S&M percentage improved year-over-year because the selling expense component saw savings.

General and Administrative (G&A) expenses

General and Administrative expenses for the third quarter of 2025 were reported at $7.7 million. This represented 18.8% of net sales, an improvement from 20.3% in Q3 2024. The slight increase in the absolute dollar amount, up from $7.4 million in the prior year, was primarily driven by higher accrued variable compensation expense. It's important to note that G&A is a fixed-cost-like element that should decrease as a percentage of sales with continued top-line growth.

Outsourced manufacturing, warehousing, and freight costs

While the exact dollar amount for outsourced manufacturing isn't isolated from COGS, the warehousing and freight transfer costs, which fall under the Selling Expenses line, showed positive movement. These costs benefited from the Productivity Initiative. The decrease in total selling expenses to $7.7 million in Q3 2025, down from $8.5 million in Q3 2024, was largely a result of these lower warehousing and freight transfer costs. This suggests the asset-light model is yielding some operational efficiencies in logistics, even with tariff impacts elsewhere.

Here is a summary of the key operating expenses for Zevia PBC in Q3 2025:

Cost Component	Q3 2025 Amount (Millions USD)	As Percentage of Net Sales
Implied COGS	$22.20 (Calculated)	54.4%
Selling and Marketing Expenses (Total)	$12.7	31.0%
General and Administrative (G&A) Expenses	$7.7	18.8%
Selling Expenses (Sub-component)	$7.7	18.9%
Marketing Expenses (Sub-component)	$4.9	12.1%

The total operating expenses for the quarter were $21.5 million, accounting for 52.6% of net sales. That figure is a marginal increase from the $20.8 million recorded in the same quarter of 2024.

Zevia PBC (ZVIA) - Canvas Business Model: Revenue Streams

You're looking at how Zevia PBC actually brings in the money as of late 2025. Honestly, the story here is about shifting from distribution recovery to growth acceleration, with the top line reflecting that push.

The primary revenue driver remains net sales from retail distribution across the U.S. and Canada. Management has clearly signaled confidence in the trajectory, raising the full year 2025 net sales guidance to a range of $162 million to $164 million. This compares to earlier guidance, showing momentum built through the year, for instance, Q3 2025 net sales hit $40.8 million, a 12.3% increase year-over-year.

Zevia PBC's revenue base is built upon sales across a diverse platform of product categories. You see the core strength in their traditional offerings, but the portfolio is broader now:

• Soda (the original focus)
• Energy Drinks
• Organic Tea
• Mixers
• Kidz drinks
• Sparkling Water

Revenue capture isn't just about shelf space; it's multi-channel. While retail is the bulk, revenue from e-commerce and direct-to-consumer sales is a noted component, with specific product launches like the Amazon-exclusive Peaches & Cream flavor driving engagement there. The company derives a majority of its revenue from the United States, but distribution in Canada is also a factor.

A significant part of the recent sales uplift is volume-driven revenue stemming from expanded distribution. The company specifically called out strong sell-through and growth driven by expanded placement at Walmart nationwide and success in the Club channel. For example, Q2 2025 net sales growth of 10.1% to $44.5 million was largely driven by improved volumes of 14.3%, which management attributed to this expanded distribution.

To keep the top line moving, Zevia PBC has been actively managing its pricing strategy. You see evidence of price realization gains, which helped boost Q2 2025 net sales, but these gains are consistently being used to offset the costs associated with promotional activity at retailers. This is a constant balancing act; for instance, the Q2 volume gains were partially offset by increased promotional activity.

Here's a quick look at the key revenue drivers and their recent performance indicators:

Revenue Driver Component	Metric/Data Point	Period/Context
FY 2025 Net Sales Guidance	$162 million to $164 million	Full Year 2025 Projection
Volume Growth Driver	14.3% volume improvement	Q2 2025 Net Sales Growth Driver
Channel Expansion Success	Expanded distribution at Walmart and Club channel	Q3 2025 Volume Driver
Price/Promotion Dynamic	Higher price realization partially offset by increased promotional activity	Q2 2025 Net Sales Components
Trailing Twelve Month Revenue	$163 million	As of September 30, 2025

The company is clearly leaning on distribution expansion and product innovation to drive the volume component of revenue, while actively managing the price realization versus promotional spend trade-off to protect the realized net sales figure. Finance: draft 13-week cash view by Friday.