The following is a summary of the Jones Soda Co. (JSDA) Q1 2024 Earnings Call Transcript:
Financial Performance:
Jones Soda reported Q1 2024 revenue of $5 million, a 29% increase from Q1 2023.
The cannabis business generated approximately $600,000, marking a 200% YoY increase.
Gross profit as a percentage of revenue rose to 37.8% due to better product pricing and higher margin sales.
Business Progress:
Jones Soda is transitioning from a craft soda company to an innovative beverage company, focusing on culture, customers, and costs.
They aim to expand and diversify offerings, leveraging the Jones brand across a broader portfolio.
In 2024, they focus on growth drivers such as Mary Jones, Delta 9, and Food Service, and plan to introduce THC products in Michigan in the second half of the year.
More details: JONES SODA CO IR
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