# EDGAR Filing Document

**Accession Number:** 0001482981
**File Stem:** 0001482981-26-000118
**Filing Date:** 2026-4
**Character Count:** 33415
**Document Hash:** 9ca2201859bf43630fced243d5ef8e14
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001482981-26-000118.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001482981-26-000118

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vita Coco Company, Inc.
- **CENTRAL INDEX KEY:** 0001482981
- **STANDARD INDUSTRIAL CLASSIFICATION:** BEVERAGES [2080]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 113713156
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40950
- **FILM NUMBER:** 26910532

**BUSINESS ADDRESS:**
- **STREET 1:** 111 5TH AVENUE
- **STREET 2:** 2ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10003
- **BUSINESS PHONE:** 212-206-0763

**MAIL ADDRESS:**
- **STREET 1:** 111 5TH AVENUE
- **STREET 2:** 2ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10003

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** All Market Inc.
- **DATE OF NAME CHANGE:** 20210824

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** All Market, Inc.
- **DATE OF NAME CHANGE:** 20210824

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vita Coco Company, Inc.
- **DATE OF NAME CHANGE:** 20210823

?xml version='1.0' encoding='ASCII'? coco-20260429

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_____________________________

**FORM 8-K**

_____________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): April 29, 2026**

_____________________________

**The Vita Coco Company, Inc.**

**(Exact name of registrant as specified in its charter)**

_____________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40950** | **11-3713156** |
| **(State or other jurisdiction of**<br>**incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

**111 Fifth Avenue**

**Second Floor**

**New York, New York 10003**

**(Address of principal executive offices) (Zip Code)**

**(Registrant's telephone number, include area code) (212) 206-0763**

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)**

_____________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbols** | **Name of each exchange**<br>**on which registered** |
| **Common Stock, $0.01 par value per share** | **COCO** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On April 29, 2026, The Vita Coco Company, Inc. (the "Company") issued a press release announcing financial results for the three months ended March 31, 2026 and other matters described in the press release. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press release, dated April 29, 2026.](coco-20260331xexx991pressr.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded with Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | THE VITA COCO COMPANY, INC. | THE VITA COCO COMPANY, INC. |
| Date: April 29, 2026 | By: | /s/ Corey Baker |
|  |  | Name: Corey Baker |
|  |  | Title: Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![logo.jpg](logo.jpg)

**The Vita Coco Company Reports Strong First Quarter 2026 Financial Results and Raises Full Year Guidance**

*Net Sales were $180 million, up* 37%*, driven by Vita Coco Coconut Water growth of* 42%

*Net Income Increased $12 million to $30 million and Non-GAAP Adjusted EBITDA*<sup>1</sup> *Increased $16 million to $39 million*

*Fiscal Year 2026 Guidance for Net Sales between $720 million and $735 million and Adjusted EBITDA*<sup>2</sup> *between $132 million and $138 million* 

**NEW YORK, NY – April 29, 2026 –** The Vita Coco Company, Inc. (NASDAQ:COCO) ("Vita Coco" or "the Company"), a leading high-growth platform of better-for-you beverage brands, today announced financial results for the first quarter ended March 31, 2026.

**First Quarter 2026 Highlights Compared to Prior Year Period**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales were $180 million, an increase of $49 million or 37%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Vita Coco* Coconut Water net sales grew 42%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gross profit was $72 million, an increase of $24 million, and Gross margin was 40% of net sales compared to 37%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income was $30 million, an increase of $12 million, and Net income per diluted share was $0.50 compared to $0.31.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP Adjusted EBITDA<sup>1</sup> was $39 million, an increase of $16 million.

Michael Kirban, the Company's Co-Founder and Executive Chairman, stated, "I am very proud of our team and our exceptional start to 2026. The coconut water category continues to be one of the fastest growing beverage categories in both the United States and our core international markets, which we believe is due to consumers choosing coconut water for more of their hydration needs. I believe this growth is being largely driven by our investments as the category leader, resulting in increased household penetration and new consumption occasions for coconut water and for the *Vita Coco* brand. The global momentum in our category and our brand has me very excited for our long-term potential."

Martin Roper, the Company's Chief Executive Officer, said, "Our healthy first quarter shipment performance was driven by very strong branded retail growth in all our major markets, reflective of solid underlying consumer demand and favorable promotional timing differences. Our improved pricing produced healthy gross margin and very strong adjusted EBITDA. Our increased full year guidance is based on expected continued brand strength in our major markets, with improving private label shipment trends. We expect significant adjusted EBITDA growth in 2026 due to our expected volume growth and gross margin improvement."

**First Quarter 2026 Consolidated Results**

Net sales increased $49 million, or 37%, to $180 million compared to $131 million in the prior year period. The increase in net sales was driven by case equivalent ("CE") volume gains of 32% for *Vita Coco* Coconut Water and 27% for Private Label as well as improved net pricing.

Gross profit increased to $72 million, from $48 million in the prior year period driven by increased sales, higher pricing and lower ocean freight rates, partially offset by higher finished goods and domestic logistics costs as well as tariff-related

------

costs associated with inventory sold during the period compared to the prior year period. Gross margin was 40% compared to 37% in the prior year period. The increase resulted from higher pricing and lower ocean freight rates, slightly offset by the impact of higher-cost inventory flowing through cost of goods sold.

Selling, general and administrative ("SG&A") expenses were $38 million, compared to $29 million in the prior year period. The increase was due to increased personnel expenses including performance-based stock compensation, investments in sales and marketing, and an increase in distributor related expenses.

Net income was $30 million, or $0.50 per diluted share, compared to net income of $19 million, or $0.31 per diluted share, in the prior year period. Net income benefited from higher gross profit, partially offset by higher SG&A spending and increased income tax expense.

Non-GAAP Adjusted EBITDA<sup>1</sup> was $39 million, compared to $23 million in the prior year due to the increased gross profit partially offset by higher SG&A expenses.

**Balance Sheet**

As of March 31, 2026, the Company's financial position remained strong with no debt and $202 million in cash and cash equivalents, an increase from $197 million at the beginning of the year. Our inventory levels decreased to $86 million, down from $111 million as of December 31, 2025, due to strong shipments in the quarter. Accounts receivable increased to $121 million from $82 million as of prior year end, primarily reflecting growth in gross sales in 2026 and collection timing differences.

On October 30, 2023, the Company's Board of Directors (the "Board") approved a share repurchase program (the "Repurchase Program") authorizing the Company to repurchase up to $40 million of the Company's common stock. On April 28, 2025, the Board approved an additional $25 million for the Repurchase Program, increasing the authorized limit to $65 million. During the three months ended March 31, 2026, the Company repurchased shares of its common stock for a total of $12 million. Year to date through April 28, 2026, the Company had repurchased approximately $20 million of shares and had $21 million remaining under the Repurchase Program.

**Fiscal Year 2026 Full Year Outlook** 

The Company is increasing its full year 2026 guidance as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales expected to be between $720 million and $735 million, driven by mid-to-high teens growth of *Vita Coco* Coconut Water and improvements in Private Label trends from new and regained business. (Prior guidance was between $680 million and $700 million).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gross margin expected to be approximately 38% with benefit relative to prior year from lower cost of goods due to a reduction in tariffs and higher pricing partially offset by adverse product mix, inflationary impacts, and increased branded promotion and incentives. (Unchanged from prior guidance).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• SG&A expenses expected to increase high single digits versus 2025. (Prior guidance was mid to high single digit growth).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA<sup>1</sup> expected to be in the range of $132 million to $138 million. (Prior guidance was between $122 million and $128 million).

Uncertainty and instability of the current operating environment, geopolitical landscape, and global economies, including the military conflict in Iran and related impacts, changes in tariff rates, associated potential competitive pricing actions and our own price elasticity, could affect this outlook and our future results.

**Footnotes**

(1)Adjusted EBITDA represents earnings before interest, taxes, depreciation, and amortization as adjusted for certain items as set forth in the reconciliation table of U.S. GAAP to non-GAAP information and is a measure calculated and presented on the basis of methodologies other than in accordance with GAAP. Please refer to the Non-GAAP Financial Measures herein for further discussion and reconciliation of this measure to GAAP measures.

(2)GAAP Net income 2026 outlook is not provided due to the inherent difficulty in quantifying certain amounts due to a variety of factors including the unpredictability in the movement in foreign currency rates, as well as future charges or reversals outside of the normal course of business.

------

**Conference Call and Webcast Details**

To participate in the live earnings call and question and answer session, please register at https://register-conf.media-server.com/register/BIb3845c5985b34df9a4070549d644b276 and dial-in information will be provided directly to you. The live audio webcast will be accessible in the "Events" section of the Company's Investor Relations website at https://investors.thevitacococompany.com/. An archived replay of the webcast will be available shortly after the live event has concluded.

**About The Vita Coco Company**

The Vita Coco Company is a family of brands on a mission to reimagine what's possible when brands deliver healthy, nutritious, and great tasting products that are better for consumers and better for the world. This includes its flagship coconut water brand *Vita Coco*, and protein-infused water *PWR LIFT*. The Company was co-founded in 2004 by Michael Kirban and Ira Liran and is a public benefit corporation and Certified B Corporation. *Vita Coco*, the principal brand within the Company's portfolio, is the leading coconut water brand in the U.S. With electrolytes, nutrients, and vitamins, coconut water has become a top beverage choice among consumers after a workout, in smoothies, as a cocktail mixer, after a night out, and more.

**Contacts**

Investor Relations:

ICR, Inc.

investors@thevitacococompany.com

------

**Non-GAAP Financial Measures**

In addition to disclosing results determined in accordance with U.S. GAAP, the Company also discloses certain non-GAAP results of operations, including, but not limited to, Adjusted EBITDA, that include certain adjustments or exclude certain charges and gains that are described in the reconciliation table of U.S. GAAP to non-GAAP information provided at the end of this release. These non-GAAP measures are a key metric used by management and our board of directors to assess our financial performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance and because we believe it is useful for investors to see the measures that management uses to evaluate the Company. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparisons of results as the items described below in the reconciliation tables do not reflect ongoing operating performance.

These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different from non-GAAP measures used by other companies. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces their usefulness as a comparative measure. Investors should not rely on any single financial measure when evaluating our business. This information should be considered as supplemental in nature and is not meant as a substitute for our operating results in accordance with U.S. GAAP. We recommend investors review the U.S. GAAP financial measures included in this earnings release. When viewed in conjunction with our U.S. GAAP results and the accompanying reconciliations, we believe these non-GAAP measures provide greater transparency and a more complete understanding of factors affecting our business than U.S. GAAP measures alone.

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our future financial and operating performance, including our GAAP and non-GAAP guidance, our strategy, projected costs, tariffs, prospects, expectations, plans, objectives of management, supply chain predictions, customer and supplier relationships, and expected net sales and category share growth.

The forward-looking statements in this release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control. These factors include, but are not limited to, those discussed under the caption "Risk Factors" in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings with the U.S. Securities and Exchange Commission ("SEC") as such factors may be updated from time to time and which are accessible on the SEC's website at www.sec.gov and the Investor Relations page of our website at https://investors.thevitacococompany.com. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

**Website Disclosure** 

We intend to use our websites, vitacoco.com and investors.thevitacococompany.com, as a means for disclosing material non-public information and for complying with the SEC's Regulation FD and other disclosure obligations.

------

**THE VITA COCO COMPANY, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Amounts in thousands, except share data)**

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| **Assets** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $201912  | $196873  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance of $2,752 at March 31, 2026, and $2,660 at December 31, 2025 | 120840  | 81514  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | 86412  | 111468  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supplier advances, current | 626  | 693  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | 2963  | 732  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 36899  | 30160  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 449652  | 421440  |
| Property and equipment, net | 9276  | 9298  |
| Goodwill | 7791  | 7791  |
| Supplier advances, long-term | 1779  | 1860  |
| Deferred tax assets, net | 6465  | 6463  |
| Right-of-use assets, net | 10943  | 11592  |
| Other assets | 2437  | 2714  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $488343  | $461158  |
| **Liabilities and Stockholders' Equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $24808  | $25464  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities  | 97437  | 89461  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | 912  | 1507  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 123157  | 116432  |
| Operating lease liability, long-term | 12914  | 13087  |
| Other long-term liabilities | 99  | 97  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $136170  | $129616  |
| Stockholders' equity: |  |  |
| Common stock, $0.01 par value; 500,000,000 shares authorized; 64,435,954 and 64,186,549 shares issued at March 31, 2026 and December 31, 2025, respectively; 57,106,305 and 57,082,173 shares outstanding at March 31, 2026 and December 31, 2025, respectively. | 644  | 642  |
| Additional paid-in capital | 187520  | 185400  |
| Retained earnings  | 258488  | 228014  |
| Accumulated other comprehensive gain | 26  | 486  |
| Treasury stock, 7,329,649 shares at cost as of March 31, 2026, and 7,104,376 as of December 31, 2025.  | (94505) | (83000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 352173  | 331542  |
| Total liabilities and stockholders' equity | $488343  | $461158  |

---

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**THE VITA COCO COMPANY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Amounts in thousands, except for share and per share data)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Net sales | $179765  | $130921  |
| Cost of goods sold | 107952  | 82836  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 71813  | 48085  |
| Operating expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 38231  | 28792  |
| Income from operations | 33582  | 19293  |
| Other income (expense) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gain on derivative instruments | 2827  | 2817  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency (loss) gain | (499) | 580  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 1561  | 1518  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (expense) income | (29) | 155  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income | 3860  | 5070  |
| Income before income taxes | 37442  | 24363  |
| Income tax expense | 6968  | 5481  |
| Net income | $30474  | $18882  |
| Net income attributable to The Vita Coco Company, Inc. per common share |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.53  | $0.33  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.50  | $0.31  |
| Weighted-average number of common shares outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 57114475  | 56994146  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 60471324  | 59975827  |

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**THE VITA COCO COMPANY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Amounts in thousands)**

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash flows from operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $30474  | $18882  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 476  | 202  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance cost  | 5  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) increase of provision for credit losses | (384) | 434  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gain on derivative instruments | (2827) | (2817) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 4626  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncash lease expense | 633  | 504  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (39444) | (13150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | 24815  | (4508) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses, net supplier advances, and other assets | (6536) | (2583) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, accrued expenses, and other liabilities | 3762  | (8950) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by/(used in) operating activities | 15600  | (9800) |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for property and equipment | (461) | (559) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (461) | (559) |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of stock awards | 1606  | 404  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid on notes payable | (3) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid to acquire treasury stock | (11505) | (1501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (9902) | (1099) |
| Effects of exchange rate changes on cash and cash equivalents | (195) | 401  |
| Net increase/(decrease) in cash and cash equivalents | 5042  | (11057) |
| Cash, cash equivalents and restricted cash at beginning of the period (1) | 198154  | 165933  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and restricted cash at end of the period (1) | $203196  | 154876  |

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<sup>1</sup> Includes $1,281 and $1,264 of restricted cash as of December 31, 2025 and 2024, respectively. Includes $1,284 and $1,268 of restricted cash as of March 31, 2026 and 2025, respectively, reported in other current assets on the condensed consolidated balance sheet.

------

 **RECONCILIATION FROM GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDA**

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Net income | 30474  | 18882  |
| Depreciation and amortization | 476  | 202  |
| Interest income | (1561) | (1518) |
| Income tax expense | 6968  | 5481  |
| **EBITDA** | $36357  | $23047  |
| Stock-based compensation (a) | 4626  | 2186  |
| Unrealized (gain) on derivative instruments (b) | (2827) | (2817) |
| Foreign currency loss/(gain) (b) | 499  | (580) |
| Other adjustments (c) | —  | 669  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted EBITDA** | $38655  | $22505  |

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(a)Non-cash charges related to stock-based compensation, which vary from period to period depending on volume and vesting timing of awards and forfeitures. We adjusted for these charges to facilitate comparison from period to period.

(b)Unrealized gains or losses on derivative instruments and foreign currency gains or losses are not considered in our evaluation of our ongoing performance.

(c)The three months ended March 31, 2025 other adjustments include $0.6 million related to a one-time 2023 incentive program that is measured based on full-year 2025 performance and is structured differently from our other ongoing employee incentive programs, and $0.4 million of non-cash rent charges related to our new New York City office that overlap with our current New York City office rent charges. These amounts were offset by $0.1 million of partial recoveries of prepaid inventory from a supplier (refer to the 2025 Form 10-K for further details) and a gain of $0.2 million from a sale of intellectual property.

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**SUPPLEMENTAL INFORMATION**

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| | | |
|:---|:---|:---|
| | **NET SALES** | **NET SALES** |
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| **(in thousands)** | **2026** | **2025** |
| **Americas segment** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vita Coco Coconut Water | $118033  | $86118  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Private Label | 24400 | 21197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 5731 | 5285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | $148164 | $112600 |
| **International segment** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vita Coco Coconut Water | $22520 | $13177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Private Label | 8837 | 4759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 244 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | $31601 | $18321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net sales | $179765 | $130921 |

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| | | |
|:---|:---|:---|
|  | **COST OF GOODS SOLD & GROSS PROFIT** | **COST OF GOODS SOLD & GROSS PROFIT** |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| **(in thousands)** | **2026** | **2025** |
| **Cost of goods sold** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americas segment | $87230 | $70288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International segment | 20722 | 12548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of goods sold | $107952 | $82836 |
| **Gross profit** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americas segment | $60934 | $42312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International segment | 10879 | 5773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total gross profit | $71813 | $48085 |
| **Gross margin** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americas segment | 41.1% | 37.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International segment | 34.4% | 31.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated | 39.9% | 36.7% |

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| | | | |
|:---|:---|:---|:---|
| | **VOLUME (CE)** | **VOLUME (CE)** | **VOLUME (CE)** |
| | **Percentage Change - Three Months Ended March 31, 2026 vs. 2025** | **Percentage Change - Three Months Ended March 31, 2026 vs. 2025** | **Percentage Change - Three Months Ended March 31, 2026 vs. 2025** |
| | **Americas segment** | **International segment** | **Total** |
| Vita Coco Coconut Water | 29.4% | 45.1% | 32.0% |
| Private Label | 17.6% | 61.8% | 27.3% |
| Other | 14.7% | 44.5% | 15.6% |
| Subtotal | 26.0% | 50.2% | 30.2% |

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*Note: A CE is a standard volume measure used by management which is defined as a case of 12 bottles of 330ml liquid beverages or the same liter volume of oil. We may have immaterial sales of raw materials at times that are treated as zero CEs for the purposes of these calculations.*

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