10-Q Filing

ZEVIA PBC CIK: 1854139 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-009676`
Period End Date	20220331
Filing Date	20220512
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	zvia-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 62 Stockholders Equity 11

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$28.82M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$43.11M	USD	Point-in-time
Short-term Investments	`ShortTermInvestments`	$30.00M	USD	Point-in-time
Short-term Investments	`ShortTermInvestments`	$30.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.05M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.42M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$32.42M	USD	Point-in-time
Inventories	`InventoryNet`	$31.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.46M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$107.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$117.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.07M	USD	Point-in-time
Right-of-use assets under operating leases, net	`OperatingLeaseRightOfUseAsset`	$1.08M	USD	Point-in-time
Right-of-use assets under operating leases, net	`OperatingLeaseRightOfUseAsset`	$211.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.69M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.74M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$514.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$301.00K	USD	Point-in-time
Total assets	`Assets`	$124.99M	USD	Point-in-time
Total assets	`Assets`	$116.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.49M	USD	Point-in-time
Accrued expenses and other current liabilities	`Accruedexpensesandothercurrentliabilitiesnet`	$6.25M	USD	Point-in-time
Accrued expenses and other current liabilities	`Accruedexpensesandothercurrentliabilitiesnet`	$6.71M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$236.00K	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$608.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.43M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.00K	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$484.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.43M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, $0.001 par value. 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2022 and December 31, 2021.	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.001 par value. 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2022 and December 31, 2021.	`PreferredStockValue`	-	USD	Point-in-time
Class A common stock value	`ClassACommonStockValue`	$34.00K	USD	Point-in-time
Class A common stock value	`ClassACommonStockValue`	$39.00K	USD	Point-in-time
Class B common stock value	`ClassBCommonStockValue`	$28.00K	USD	Point-in-time
Class B common stock value	`ClassBCommonStockValue`	$30.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$179.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$174.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.88M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$128.48M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$122.44M	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$-23.92M	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$-28.58M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$104.56M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$93.86M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$124.99M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$116.48M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$30.69M	USD	1 Quarter
Net sales	`Revenues`	$38.03M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$23.41M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.19M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$7.99M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$12.79M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.13M	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$8.90M	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$37.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$351.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$244.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$32.18M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.95M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$243.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-17.55M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$82.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$247.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.47M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.00K	USD	1 Quarter
Income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$247.00K	USD	1 Quarter
Income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-17.48M	USD	1 Quarter
Loss (income) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.59M	USD	1 Quarter
Loss (income) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$247.00K	USD	1 Quarter
Net income (loss) attributable to Zevia PBC	`NetIncomeLossAvailableToCommonStockholdersBasic`	-	USD	1 Quarter
Net income (loss) attributable to Zevia PBC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.90M	USD	1 Quarter
Net loss per share attributable to common stockholders, basic	`EarningsPerShareBasic`	$-0.30	USD	1 Quarter
Net loss per share attributable to common shareholders, diluted	`EarningsPerShareDiluted`	$-0.30	USD	1 Quarter
Weighted average common units outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.88M	shares	1 Quarter
Weighted average common units outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.88M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-17.48M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$247.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseExpense`	$149.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseExpense`	$136.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$231.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$351.00K	USD	1 Quarter
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	$13.00K	USD	1 Quarter
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$8.90M	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$37.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.42M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.38M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$920.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-734.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.33M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-957.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.65M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-456.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.03M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-166.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-150.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.33M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.40M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$254.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$565.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-565.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-254.00K	USD	1 Quarter
Proceeds from revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Proceeds from revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$29.47M	USD	1 Quarter
Repayment of revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Repayment of revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$29.47M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$213.00K	USD	1 Quarter
Minimum tax withholding paid on behalf of employees for net share settlement	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.13M	USD	1 Quarter
Minimum tax withholding paid on behalf of employees for net share settlement	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
proceeds from exercise of common units	`ProceedsFromExerciseOfCommonUnits`	$10.00K	USD	1 Quarter
proceeds from exercise of common units	`ProceedsFromExerciseOfCommonUnits`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$16.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.33M	USD	1 Quarter
Net change from operating, investing, and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.29M	USD	1 Quarter
Net change from operating, investing, and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.58M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.94M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.36M	USD	Point-in-time
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$141.00K	USD	1 Quarter
Conversion of Class B common stock to Class A common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Conversion of Class B common stock to Class A common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.93M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.02M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Unpaid IPO offering costs	`UnpaidIpoOfferingCosts`	-	USD	1 Quarter
Unpaid IPO offering costs	`UnpaidIpoOfferingCosts`	$1.02M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$36.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$104.56M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$93.86M	USD	Point-in-time
Vesting and release of common stock under equity incentive plans, net	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.13M	USD	1 Quarter
Vesting and release of common stock under equity incentive plans, net	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$16.00K	USD	1 Quarter
Exercise of stock options Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	57,037.00	shares	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.90M	USD	1 Quarter
Net income loss post reorganization	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-17.48M	USD	1 Quarter
Net income loss post reorganization	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$247.00K	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$104.56M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$93.86M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.