10-Q Filing

ZEVIA PBC CIK: 1854139 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001193125-21-246159`
Period End Date	20210630
Filing Date	20210813
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	d213839d10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 62 Cash Flow Statement 63 Stockholders Equity 27

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$14.94M	USD	Point-in-time
Cash	`Cash`	$6.38M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.94M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.42M	USD	Point-in-time
Inventories, net	`InventoryNet`	$22.54M	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.80M	USD	Point-in-time
Common units, Par value	`CommonUnitNoParValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.98M	USD	Point-in-time
Common units, Par value	`CommonUnitNoParValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.32M	USD	Point-in-time
Common Unit, Authorized	`CommonUnitAuthorized`	7.27M	shares	Point-in-time
Common Unit, Authorized	`CommonUnitAuthorized`	7.27M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$991.00K	USD	Point-in-time
Common units, Units issued	`CommonUnitIssued`	2.48M	shares	Point-in-time
Common units, Units issued	`CommonUnitIssued`	2.44M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.65M	USD	Point-in-time
Right-of-use assets under operating leases, net	`OperatingLeaseRightOfUseAsset`	$773.00K	USD	Point-in-time
Common units, Units outstanding	`CommonUnitOutstanding`	2.48M	shares	Point-in-time
Common units, Units outstanding	`CommonUnitOutstanding`	2.44M	shares	Point-in-time
Right-of-use assets under operating leases, net	`OperatingLeaseRightOfUseAsset`	$498.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.94M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.84M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$81.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$82.00K	USD	Point-in-time
Total assets	`Assets`	$51.39M	USD	Point-in-time
Total assets	`Assets`	$49.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.77M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.69M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.43M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$623.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$548.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.78M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.07M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$238.00K	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$10.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.83M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
No par values. Authorized units of 34,410,379 and 34,410,379; 26,322,803 and 26,322,803 units issued and outstanding as of June 30, 2021 and December 31, 2020, respectively; and aggregate liquidation preference, $329,753 and $329,753 as of June 30, 2021 and December 31, 2020, respectively.	`TemporaryEquityCarryingAmountAttributableToParent`	$232.46M	USD	Point-in-time
Common units: No par value. Authorized units of 7,274,742 and 7,274,742; 2,476,386 and 2,438,812 units issued and outstanding as of June 30, 2021 and December 31, 2020, respectively.	`CommonUnitIssuanceValue`	$966.00K	USD	Point-in-time
Common units: No par value. Authorized units of 7,274,742 and 7,274,742; 2,476,386 and 2,438,812 units issued and outstanding as of June 30, 2021 and December 31, 2020, respectively.	`CommonUnitIssuanceValue`	$976.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$73.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-200.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-197.78M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-196.81M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-39.39M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-42.53M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-196.52M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-39.97M	USD	Point-in-time
Total members' deficit	`StockholdersEquity`	$-199.90M	USD	Point-in-time
Total liabilities, redeemable convertible preferred units and members' deficit	`LiabilitiesAndStockholdersEquity`	$51.39M	USD	Point-in-time
Total liabilities, redeemable convertible preferred units and members' deficit	`LiabilitiesAndStockholdersEquity`	$49.96M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$27.68M	USD	1 Quarter
Net sales	`Revenues`	$65.05M	USD	2 Qtrs
Net sales	`Revenues`	$34.35M	USD	1 Quarter
Net sales	`Revenues`	$50.17M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$13.84M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$27.30M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$18.11M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$34.62M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$30.43M	USD	2 Qtrs
Gross profit	`GrossProfit`	$22.87M	USD	2 Qtrs
Gross profit	`GrossProfit`	$16.24M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$10.70M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$5.72M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$18.69M	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$12.64M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$11.73M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.01M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.64M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$8.98M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$230.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$250.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$474.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$473.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$16.95M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.89M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$22.09M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$10.61M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-464.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$3.23M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-707.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$780.00K	USD	2 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-42.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-38.00K	USD	2 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-267.00K	USD	2 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-118.00K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$247.00K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-502.00K	USD	2 Qtrs
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$3.11M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$513.00K	USD	2 Qtrs
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-749.00K	USD	1 Quarter
Net income (loss) attributable to common unit holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-749.00K	USD	1 Quarter
Net income (loss) attributable to common unit holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$460.00K	USD	1 Quarter
Net income (loss) attributable to common unit holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$79.00K	USD	2 Qtrs
Net income (loss) attributable to common unit holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-502.00K	USD	2 Qtrs
Net income (loss) per unit attributable to common unit holders, basic	`EarningsPerShareBasic`	$-0.30	USD	1 Quarter
Net income (loss) per unit attributable to common unit holders, basic	`EarningsPerShareBasic`	$-0.20	USD	2 Qtrs
Net income (loss) per unit attributable to common unit holders, basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Net income (loss) per unit attributable to common unit holders, basic	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Net income (loss) per unit attributable to common unit holders, diluted	`EarningsPerShareDiluted`	$-0.20	USD	2 Qtrs
Net income (loss) per unit attributable to common unit holders, diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Net income (loss) per unit attributable to common unit holders, diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income (loss) per unit attributable to common unit holders, diluted	`EarningsPerShareDiluted`	$-0.30	USD	1 Quarter
Weighted average common units outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.47M	shares	2 Qtrs
Weighted average common units outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.55M	shares	1 Quarter
Weighted average common units outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.55M	shares	2 Qtrs
Weighted average common units outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.48M	shares	1 Quarter
Weighted average common units outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.48M	shares	1 Quarter
Weighted average common units outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.75M	shares	1 Quarter
Weighted average common units outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.47M	shares	2 Qtrs
Weighted average common units outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.61M	shares	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$247.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-502.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.11M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$513.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-749.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseExpense`	$242.00K	USD	2 Qtrs
Non-cash lease expense	`OperatingLeaseExpense`	$275.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$448.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$474.00K	USD	2 Qtrs
Loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	2 Qtrs
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	$25.00K	USD	2 Qtrs
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	$17.00K	USD	2 Qtrs
Unit-based compensation expense	`ShareBasedCompensation`	$58.00K	USD	2 Qtrs
Unit-based compensation expense	`ShareBasedCompensation`	$73.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.47M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.62M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$7.12M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$1.74M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-380.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-318.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$30.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$21.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.46M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.04M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$724.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-778.00K	USD	2 Qtrs
Operating lease liabilities - current	`IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent`	$32.00K	USD	2 Qtrs
Operating lease liabilities - current	`IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent`	$-75.00K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.53M	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.53M	USD	2 Qtrs
Operating lease liabilities, net of current portion	`IncreaseDecreaseInOperatingLeaseLiabilitiesNonCurrent`	$-293.00K	USD	2 Qtrs
Operating lease liabilities, net of current portion	`IncreaseDecreaseInOperatingLeaseLiabilitiesNonCurrent`	$-228.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.70M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$489.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.03M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-489.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.03M	USD	2 Qtrs
Proceeds from exercise of common units	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$5.00K	USD	2 Qtrs
Proceeds from exercise of common units	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$10.00K	USD	2 Qtrs
Proceeds from revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$64.31M	USD	2 Qtrs
Proceeds from revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$51.38M	USD	2 Qtrs
Repayment of revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$64.31M	USD	2 Qtrs
Repayment of revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$48.66M	USD	2 Qtrs
Proceeds from PPP Loan	`ProceedsFromLinesOfCredit`	$1.43M	USD	2 Qtrs
Payment of deferred IPO costs	`PaymentsOfStockIssuanceCosts`	$3.83M	USD	2 Qtrs
Distribution to unitholders for tax payments	`PaymentsOfCapitalDistribution`	$2.67M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.16M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.49M	USD	2 Qtrs
Net change from operating, investing, and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$966.00K	USD	2 Qtrs
Net change from operating, investing, and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.56M	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.24M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.38M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.21M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.24M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.38M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.21M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$131.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$72.00K	USD	2 Qtrs
Unpaid deferred offering costs	`CapitalExpendituresIncurredButNotYetPaid`	$1.04M	USD	2 Qtrs

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$232.46M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-196.81M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-39.39M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-42.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-196.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-39.97M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-199.90M	USD	Point-in-time
Exercise of common units	`StockIssuedDuringPeriodValueCommonUnitsExercised`	$5.00K	USD	1 Quarter
Exercise of common units	`StockIssuedDuringPeriodValueCommonUnitsExercised`	$10.00K	USD	1 Quarter
Unit based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.00K	USD	1 Quarter
Unit based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$36.00K	USD	1 Quarter
Unit based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$37.00K	USD	1 Quarter
Unit based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.00K	USD	1 Quarter
Distributions to unitholders for tax payments	`Dividends`	$2.67M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$247.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-502.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.59M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.11M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$513.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-749.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-196.81M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-39.39M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-42.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-196.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-39.97M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-199.90M	USD	Point-in-time
Ending Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$232.46M	USD	Point-in-time

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