Vita Coco Company, Inc. (COCO) FY2025 10-K Annual Report
Vita Coco Company, Inc. (COCO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 18, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Vita Coco Company, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Leading global coconut and plant waters brand with asset-light supply chain sourcing from 16 factories in six countries
- • Ceased Runa energy drink in Dec 2023 and Ever & Ever aluminum bottled water production in 2024, focusing on core coconut-based beverages
- • Strategic emphasis on expanding Vita Coco product portfolio with new innovation Vita Coco Treats and redesign of PWR LIFT for protein drink category in 2026
- • Market share: Vita Coco holds >40% U.S. coconut water market and 80% market share in U.K. as of 2025, with 336 employees globally
- • Recertified as Certified B Corporation in 2025, improving score and reinforcing public benefit corporation status and sustainability commitments
Management Discussion & Analysis
- • Revenue $609.8M in 2025, up 18.2% YoY ($93.8M increase), driven by Vita Coco Coconut Water growth in Americas and International segments
- • Gross margin 36.5% in 2025 vs 38.5% in 2024, down 2.0 percentage points due to tariffs, higher product and transportation costs
- • Best performing segment: International net sales up 37.1% to $101.0M with 34.9% gross margin; worst performing: Americas Private Label sales down 30.2% to $62.7M
- • Net income $71.3M, up 27.5%; SG&A expenses $140.1M, up 12.1%; cash and equivalents $196.9M at year-end; $16M tariffs paid in 2025
- • Management highlights ongoing tariff and supply chain risks, cautious outlook on transportation cost volatility, focus on innovation and expanding retail and e-commerce channels
Risk Factors
- • Regulatory risk: Exposure to tariffs and trade tensions impacting supply chain costs and ocean freight rates, with material financial effects in recent years
- • Macroeconomic risk: Americas segment generates 83% of revenue, so U.S. market slowdown could materially reduce total company revenue and cash flow
- • Supply chain vulnerability: Heavy dependence on third-party co-packing and manufacturing partners across countries like Philippines, Sri Lanka, Malaysia, and Brazil, risking delays and cost increases
- • Competitive risk: Competition from large multinational beverage companies with greater resources who may launch competing coconut water or functional drinks
- • Financial risk: Revenue concentration with largest distributor and retail customer accounting for 44% of net sales, risking material impact if relationships deteriorate
Vita Coco Company, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$610M
▲ +18.2% YoY
Net Income
$71M
▲ +27.5% YoY
Gross Margin
36.5%
▼ -202bp YoY
Operating Margin
13.5%
▼ -77bp YoY
Net Margin
11.7%
▲ +85bp YoY
ROE
21.5%
▼ -11bp YoY
Total Assets
$461M
▲ +27.3% YoY
EPS (Diluted)
$1.19
▲ +26.6% YoY
Operating Cash Flow
$47M
▲ +10.0% YoY
Source: XBRL data from Vita Coco Company, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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