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Sunday, September 25, 2022

Jones Soda Co. (OTCMKTS: JSDA) Heats Up as Beverage Co Reports Record Q4 & Annual Results as Well as Strategic Move into Cannabis Infused Beverage Market

Jones Soda Co. (OTCMKTS: JSDA) got a recent boost after the Company reported record Q4 and 2021 annual results. Revenue in the fourth quarter of 2021 increased 18% to $2.9 million compared to $2.5 million in the prior year period. The revenue growth was primarily attributable to the continued sales momentum of Jones’ core bottled soda products. For the year Revenue increased 24% to $14.8 million compared to $11.9 million in 2020. The revenue growth was primarily driven by the Company’s continued execution of its turnaround plan and increased sales of its core bottled soda products. Gross profit as a percentage of sales increased 720 basis points to 29.7% in 2021 compared to 22.5% in 2020. The improvement was driven mostly by the favorable product mix shift and cost optimization efforts throughout the year. 

JSDA is an exciting beverage Company that has sponsored a number of UFC fighters and besides its already established and popular line of Jones Soda has launched the successful Lemoncocco® inspired by the distinctive refreshment stands found along the streets of Rome, Italy. The Company continues to execute on its turnaround Strategy, reporting sixth consecutive quarters of revenue Growth, including record Q4 and annual results in 2021 reporting revenue increased 24% to $14.8 million in 2021 compared to $11.9 million in 2020. JSDA also recently made a big move into the cannabis sector with the acquisition of Pinestar Gold Inc. taking the Company public in Canada and completing an $8 million offering with proceeds being used towards the development of the Company’s planned Cannabis-infused beverages and edibles business line. Jones also completed an offering of $3 million bringing total recent financings to $11 million. 

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Jones Soda Co. (OTCMKTS: JSDA) operating out of Seattle, Washington develops, produces, markets and distributes premium beverages sold primarily in the United States, Canada and select international markets through the Company’s network of independent distributors and directly to its national and regional retail accounts. Jones Soda also sells various products online, including soda with customized labels, wearables, candy and other items, and the Company licenses its trademarks for use on products sold by other manufacturers. The Jones portfolio includes Jones Pure Cane Soda, Jones Sugar Free, Jones Cane Sugar Fountain products and its sister brand Lemoncocco – a non-carbonated beverage inspired by the iconic beverage stands in Rome, Italy. 

Jones Soda is the Company’s premium carbonated soft drink and a very recognizable soft drink that most people, myself included has seen at the grocery store or gas station. The Company sells Jones Soda in premium glass bottles and cans, with every label featuring a photo sent to Jones Soda by its consumers. The Company uses catchy and unique names for its products such as FuFu Berry, and use only the high-quality ingredients, including pure cane sugar and natural colors and flavors when possible. Jones Soda is also available in more traditional flavors such as Cream Soda, Root Beer and Orange & Cream. Jones Soda uses an engaging collage of consumer-submitted photos and fountain offerings include traditional flavors such as Cane Sugar Cola, Sugar Free Cola, as well as cane sugar sweetened Ginger Ale, Orange & Cream, Root Beer and Lemon Lime. Rounding out the lineup are two of our most popular cane sugar flavors, Berry Lemonade and Green Apple.  

Jones Soda launched Lemoncocco® in 2016, representing an entirely new beverage category that was inspired by the distinctive refreshment stands found along the streets of Rome, Italy. Lemoncocco is a premium non-carbonated, naturally flavored beverage with the extracts of Sicilian lemons and a splash of coconut cream. Lemoncocco is lightly sweetened with a touch of cane sugar and only 90 calories per 12-ounce serving. Lemoncocco was designed to be on trend, beautifully bold in design and yield a higher gross profit margin than the Company’s current Jones bottle product offerings upon achieving a certain threshold of sales. 

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JSDA recently made a big move into the cannabis sector with the acquisition of Pinestar Gold Inc. taking the Company public in Canada and completing an $8 million offering with proceeds being used towards the development of the Company’s planned Cannabis-infused beverages and edibles business line. Jones also completed an offering of $3 million in aggregate principal amount of 3.00% unsecured convertible debentures due February 9, 2023 

JSDA got a huge boost after the Company reported record Q4 and 2021 annual results. Revenue in the fourth quarter of 2021 increased 18% to $2.9 million compared to $2.5 million in the prior year period. The revenue growth was primarily attributable to the continued sales momentum of Jones’ core bottled soda products. For the year Revenue increased 24% to $14.8 million compared to $11.9 million in 2020. The revenue growth was primarily driven by the Company’s continued execution of its turnaround plan and increased sales of its core bottled soda products. Gross profit as a percentage of sales increased 720 basis points to 29.7% in 2021 compared to 22.5% in 2020. The improvement was driven mostly by the favorable product mix shift and cost optimization efforts throughout the year. 

JSDA CEO Mark Murray stated: “2021 was a transformative year spearheaded by strategic partnerships and increased sales across all channels. We made great progress expanding our base business across multiple channels, while continuing to focus on our unique labels to increase consumer awareness. We exceeded internal expectations and completed the first year of our three-year turnaround plan with 24% year-over-year revenue growth, a gross profit margin improvement of 720 basis points, and heightened national awareness. From a marketing standpoint, the revival of our Turkey and Gravy soda after a ten-year hiatus was an enormous success during the fourth quarter garnering $7.5 million in ad value and over 1.3 billion online impressions. We believe these engagement levels are a testament to the power and community of the Jones Soda brand. Jones has always been known for thinking outside of the box, creating engaging labels, and experimenting with flavors. During the quarter we also announced a key retail expansion with Meijer. It had been five years since Jones products had been in Meijer stores and we are proud of our achievement to have Jones Soda reintroduced to the large retailer across 210 stores in six Midwest states.” 

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JSDA got a recent boost after the Company reported record Q4 and 2021 annual results. Revenue in the fourth quarter of 2021 increased 18% to $2.9 million compared to $2.5 million in the prior year period. The revenue growth was primarily attributable to the continued sales momentum of Jones’ core bottled soda products. For the year Revenue increased 24% to $14.8 million compared to $11.9 million in 2020. The revenue growth was primarily driven by the Company’s continued execution of its turnaround plan and increased sales of its core bottled soda products. Gross profit as a percentage of sales increased 720 basis points to 29.7% in 2021 compared to 22.5% in 2020. The improvement was driven mostly by the favorable product mix shift and cost optimization efforts throughout the year. JSDA is an exciting beverage Company that has sponsored a number of UFC fighters and besides its already established and popular line of Jones Soda has launched the successful Lemoncocco® inspired by the distinctive refreshment stands found along the streets of Rome, Italy. The Company continues to execute on its turnaround Strategy, reporting sixth consecutive quarters of revenue Growth, including record Q4 and annual results in 2021 reporting revenue increased 24% to $14.8 million in 2021 compared to $11.9 million in 2020. JSDA also recently made a big move into the cannabis sector with the acquisition of Pinestar Gold Inc. taking the Company public in Canada and completing an $8 million offering with proceeds being used towards the development of the Company’s planned Cannabis-infused beverages and edibles business line. Jones also completed an offering of $3 million bringing total recent financings to $11 million. We will be updating on JSDA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with JSDA.

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Disclosure: we hold no position in JSDA either long or short and we have not been compensated for this article.

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