Zevia PBC Class A Common Stock (ZVIA)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at Zevia as a small, brand-led beverage business in a competitive aisle. It sells zero-sugar soda, energy drinks, and tea, but scale is modest: fiscal 2025 revenue was $161.3 million, up from $155.0 million in fiscal 2024, yet still below the $166.4 million reported in fiscal 2023. More important, it has not earned a profit. The fiscal 2025 net loss was $9.9 million, an improvement from $20.0 million in fiscal 2024 and $28.3 million in fiscal 2023. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue of $45.0 million and a net loss of $2.8 million, or $0.04 per diluted share, while fiscal Q1 2026 had revenue of $46.1 million and a net loss of $2.3 million. So losses are not yet banished. The balance sheet has little debt—D/E 0.01—and trailing free cash flow of $2.9 million gives a 3.4% FCF yield, which is a genuine positive. But Altman Z-score of -0.20 and Piotroski F-score of 4/9 suggest fragility, and ROE of -26.54% shows capital is not yet earning a return. At $1.18 on 2026-10-13, market cap is $84.8 million, price-to-book is 1.87, and the P/E is negative. Without durable profits, book value and cash flow are the only anchors. I see a possible turnaround, not a proven moat. The brand may matter, but distribution and shelf space are hard. Until earnings are consistently positive, the margin of safety is thin.

In plain English: Zevia makes zero-sugar sodas, energy drinks, and teas. The business is still losing money, though its losses have gotten smaller in recent years and it produces a little cash after expenses. At $1.18 a share, the price does not look clearly cheap because there are no profits to measure it against, but the company is small and the story depends on eventually becoming profitable.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer