Short answer
Zevia PBC (ZVIA) filed its fiscal 2025 10-K annual report with the SEC on Feb 25, 2026. It reported revenue of $161M (+4.0% year over year) and net income of −$10M.
- Top risk flagged: Tariffs and global trade policies causing increased supply chain challenges and commodity cost volatility, raising cost of goods sold in 2025 and expected ongoing impact
FY2025 key financial metrics · XBRL
- Revenue
- $161M
- +4.0% YoY
- Net income
- −$10M
- +50.4% YoY
- Operating margin
- -7.3%
- +7.9 pp YoY
- Gross margin
- 48.0%
- +1.6 pp YoY
- EPS (diluted)
- −$0.15
- +55.9% YoY
- ROE
- -19.4%
- +11.4 pp YoY
- Operating cash flow
- −$5M
- −361.5% YoY
Source: XBRL data from the Zevia PBC (ZVIA) FY2025 10-K on SEC EDGAR. USD.
Zevia PBC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Holding company controlling Zevia LLC, operating natural, zero-calorie beverage brands
- New structure post-IPO July 26, 2021, reflecting controlling interest with non-controlling minority stakeholders
- Strategic emphasis on public benefit corporation status since incorporation March 2021, highlighting social mission
- Consolidation of Zevia LLC financials with non-controlling interest accounted separately in year 2026 filing
- Distinctive transition year marking Zevia's shift from private to public benefit corporation with IPO completion
Management Discussion & Analysis
- Management highlights risks and uncertainties affecting future results
- No explicit guidance or financial outlook stated
Risk Factors
- Tariffs and global trade policies causing increased supply chain challenges and commodity cost volatility, raising cost of goods sold in 2025 and expected ongoing impact
- Exposure to U.S.-China political tensions and global hostilities potentially disrupting economies and financial markets, risking access to additional capital
- Dependence on third-party contract manufacturers in U.S. and Canada with purchase commitments only for first three months, risking production continuity
- Pricing pressure and competitive risks amid increased marketing spend to grow brand, with distribution shifts affecting volume in mass and club channels
- Tax Receivable Agreement obligations up to $58.9 million through 2040 contingent on sufficient taxable income, impacting future liquidity and cash flows
Generated from the filing text; verify against the original. How to read a 10-K
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