| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 179.77 | 37.3% |
| Total Income | 179.77 | 37.3% |
| Expenditure | 146.18 | 30.9% |
| PBT | 37.44 | 53.7% |
| Net Profit | 30.47 | 61.4% |
| OPM | 18.68% | 3.95pp |
| NPM | 16.95% | 2.53pp |
| EPS | 0.53 | 60.6% |
Vita Coco Reports Q1 2026 Net Sales Up 37% to $180 Million, Raises Full Year Guidance
29 Apr 2026 · 29 Apr, 4:57 pm
Summary
The Vita Coco Company reported robust first quarter 2026 financial results, with net sales climbing 37% year-over-year to $180 million, primarily fueled by a 42% growth in Vita Coco Coconut Water sales. This strong top-line performance translated into significant profitability gains, as gross profit rose to $72 million with an improved gross margin of 40%, and net income reached $30 million. Non-GAAP Adjusted EBITDA also saw a substantial increase to $39 million. Driven by this strong performance and expected continued brand strength, management has raised its full-year 2026 guidance for both net sales and Adjusted EBITDA, anticipating continued growth and margin improvement.
Key Highlights
- 1
Net sales for the first quarter of 2026 surged by 37% year-over-year, reaching $180 million, driven by strong growth in Vita Coco Coconut Water.
- 2
Gross profit increased by $24 million to $72 million, with the consolidated gross margin improving to 40% compared to 37% in the prior year period.
- 3
Net income for the quarter rose by $12 million to $30 million, translating to diluted earnings per share of $0.50, up from $0.31 in Q1 2025.
- 4
Non-GAAP Adjusted EBITDA saw a substantial increase of $16 million, reaching $39 million for the first quarter.
- 5
The company has raised its full-year 2026 guidance, now projecting net sales between $720 million and $735 million and Adjusted EBITDA between $132 million and $138 million.
- 6
The balance sheet remains robust with $202 million in cash and cash equivalents and no debt as of March 31, 2026, and the company repurchased $12 million of its common stock during the quarter.
Management Comments
Michael Kirban
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
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.
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