Jones Soda (JSDA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 108% year-over-year to $10.8 million, driven by Fallout branded product sales and expanded direct-to-consumer and retail channels, while HD9 sales declined significantly.

• Management raised full-year 2026 revenue growth guidance to at least 80%, with positive adjusted EBITDA now expected.

• Strategic focus remains on core craft soda, expanding Zero Sugar offerings, and leveraging branded collaborations for growth, including new partnerships such as Rap Snacks.

• Underperformance in modern soda and adult beverages acknowledged, with resources redirected to higher-return areas.

• Net loss for Q2 2026 was $650,000 to $0.7 million, compared to net income of $2.6–$2.7 million in Q2 2025, which included a $3.7 million one-time gain from the sale of cannabis operations.

Financial highlights

• Q2 2026 revenue: $10.8 million (up from $4.9 million in Q2 2025); six-month revenue: $22.6 million, nearly 90% of full-year 2025 revenue.

• Gross profit increased 72% to $2.8 million, but gross margin declined to 27.5–28% from 33.3% due to higher freight and oil costs.

• Adjusted EBITDA loss improved to $312,000, a $427,000 improvement year-over-year.

• Selling and marketing expenses increased 79% YoY in Q2 to $1.9 million; G&A expenses up 8% to $1.4 million.

• Cash balance as of June 30, 2026: $2.4 million.

Outlook and guidance

• Full-year 2026 revenue growth expected to be at least 80%, with net revenue guidance raised to over $45 million.

• Positive adjusted EBITDA forecast for 2026.

• Q3 2026 anticipated to be one of the strongest quarters, with $2 million in shipments shifted from Q2 to Q3.

• Rap Snacks collaboration expected to contribute revenue in 2027.

• Ongoing efforts to manage freight and warehousing costs to restore margins.