Company: JSDA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024179
Chunk: 27

Company: JONES SODA CO.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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 $2.6 million compared to net loss of approximately $1.6 million for the
quarter ended June 30, 2024 or an improvement of $4.2 million. This decrease in net loss was primarily due to the decreases in selling
and marketing expenses and general and administrative expenses in the second quarter of 2025 compared to the first quarter of 2024, and
the gain on sale of its Cannabis businesses being partially offset by reduced sales revenues and gross profit in the current quarter
compared to the same quarter last year.

Six
months ending June 30, 2025 and 2024

    2025  
    2024  

    (Dollars in thousands)  
    (Dollars in thousands)  
    % Change 
  
    Revenue 
    $9,124  
    $11,240  
     (18.8)%
  
    Cost of Goods Sold 
     (6,101) 
     (7,363) 
     (17.1)%
  
    Gross Profit 
     3,023  
     3,877  
     (22.0)%
  
    % of Revenue 
     33.1% 
     34.5% 

Six
Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 

Revenue

For
the six months ending June 30, 2025, revenue decreased by approximately $2.1 million, or 18.8%, to approximately $9.1 million compared
to approximately $11.2 million for the six months ending June 30, 2024. The decrease in sales revenue was driven by lower sales in its
core soda business ($3.5 million decrease year over year) and direct to consumer business ($0.4 million), which was partially offset
by growth in mini cans, food service, convenience store and HD9 products ($1.8 million increase year over year). HD9 grew $0.9 million
over the six months from $0.9 million in the prior year to $1.8 million for the six months ending June 30, 2025. Core soda sales were
front end loaded in 2024 with one customer taking a large pipeline fill order in the second quarter of 2024 which did not repeat in 2025.
Management expects to see growth in the third and fourth