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10-K annual report · filed Feb 18, 2026

Vita Coco Company, Inc. (COCO) FY2025 10-K Annual Report

COCO overviewOriginal on SEC EDGAR
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Vita Coco Company, Inc. (COCO) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $610M (+18.2% year over year) and net income of $71M.

  • Top risk flagged: Regulatory risk: Exposure to tariffs and trade tensions impacting supply chain costs and ocean freight rates, with material financial effects in recent years

FY2025 key financial metrics · XBRL

Revenue
$610M
+18.2% YoY
Net income
$71M
+27.5% YoY
Operating margin
13.5%
−0.8 pp YoY
Gross margin
36.5%
−2.0 pp YoY
EPS (diluted)
$1.19
+26.6% YoY
ROE
21.5%
−0.1 pp YoY
Operating cash flow
$47M
+10.0% YoY

Source: XBRL data from the Vita Coco Company, Inc. (COCO) FY2025 10-K on SEC EDGAR. USD.

Vita Coco Company, Inc. FY2025 10-K analysis

AI summary of each section, grounded in the filing text

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

Generated from the filing text; verify against the original. How to read a 10-K

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