Jones Soda Co. reported third‑quarter 2025 revenue of $4.5 million, a 14.9% increase from the $3.9 million earned in the same period a year earlier. The company’s net loss narrowed to $1.4 million, or $(0.01) per share, compared with a $2.6 million loss, or $(0.02) per share, in Q3 2024. The improvement reflects stronger top‑line growth and tighter cost control, but the company remains unprofitable.
Revenue growth was driven by the expansion of the hemp‑derived Delta‑9 THC (HD9) line, direct‑to‑consumer sales, fountain distribution, and the Spiked Jones product. New launches such as Mary Jones ZERO and Fallout‑themed drinks added fresh demand, while the company’s themed‑label strategy continued to attract niche consumers. These product and channel initiatives lifted revenue across all segments, offsetting any weakness in legacy soda lines.
Operating expenses fell to $2.7 million from $3.5 million in Q3 2024, a reduction of $0.8 million. The decline was driven by disciplined spending in selling, marketing, and general‑administrative functions, as well as lower freight and warehousing costs. The expense reduction helped lift gross profit and contributed to an improvement in adjusted EBITDA, which rose to $(0.9) million from $(2.2) million year‑ago.
Management guided for fourth‑quarter gross sales that will exceed $8 million, signaling confidence in the momentum of high‑margin segments. The company’s cash position at the end of the quarter was $0.2 million, with $0.6 million in working capital, underscoring the need for continued cash flow generation to sustain operations.
The market reaction was muted; the stock traded near its 52‑week low at $0.175, reflecting investor caution. Analysts noted that while revenue growth and margin expansion are encouraging, the persistent net loss and limited cash reserves temper enthusiasm.
Headwinds include regulatory uncertainty surrounding hemp‑derived products and increasing competition in the flavored‑soda space. Nevertheless, CEO Scott Harvey emphasized the company’s focus on product innovation, distribution expansion, and cost discipline, suggesting a clear path toward profitability if the company can maintain its growth trajectory and manage cash flow effectively.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.