Zevia PBC (NYSE:ZVIA) Q3 2023 Earnings Call Transcript
Zevia PBC (NYSE:ZVIA) Q3 2023 Earnings Call Transcript November 13, 2023
Operator: Greetings and welcome to Zevia PBC Q3 2023 earnings call. [Operator Instructions] It is now my pleasure to introduce your host Reed Anderson, Managing Director ICR. Thank you Mr. Anderson. You may begin.
Reed Anderson: Thank you, and welcome to Zevia's third quarter 2023 earnings conference call and webcast. On today's call are Amy Taylor, President and Chief Executive Officer; and Florence Neubauer, Interim Chief Financial Officer. By now everyone should have access to the company's third quarter 2023 earnings press release and investor presentation filed this morning. This information is available on the Investor Relations section of Zevia's website at investors.zevia.com. Before we begin, please note that all the financial information presented on today's call is unaudited. Certain comments made on this call include forward-looking statements which are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current expectations and beliefs concerning future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to today's press release and other filings with the SEC for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today. During the call we will use some non-GAAP financial measures as we describe business performance. The SEC filings as well as the earnings press release, presentation slides that accompany today's comments and reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are also available on our website at investors.zevia.com.
Now I would like to turn the call over to Amy Taylor.
Amy Taylor: Thanks, Reid and good morning, everyone. Welcome to the Q3 2023 earnings call for Zevia PBC. I will leave by sharing that the plans we articulated on our Q2 call to stabilize our supply chain and restore service levels are progressing as expected in Q3 and this continued now in November. Zevia's brand remains healthy and demand continues to accelerate, supported by the brand refresh, the improved on-shelf visibility that it delivers and velocity continues to grow at double-digit rates. Consumer spending is up on the brand for household and per trip. Our pricing remained strong with limited elasticity, exceeding our expectations and supporting our continued gross margin improvements. Zevia continues to have tremendous long-term potential, as it gained distribution, invest in brand building and win new consumers.
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