The following is a summary of the Jones Soda Co. (JSDA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Jones Soda reported a decrease in net revenue to $4.2 million compared to $4.5 million in Q3 2023.

• Gross margin decreased to 21.2% from 32.9%, reflecting unfavorable product mix and a trade spend adjustment related to the Canadian distributor transition.

• The company witnessed an increase in total operating expenses to $3.5 million from $2.4 million due to heightened spending on product innovation and marketing.

• Net loss widened to $2.6 million or $-0.02 per share, compared to a net loss of $1 million or $-0.01 per share in Q3 2023.

Business Progress:

• Paul Norman is now serving as Interim President, CEO, and CFO, following the recent departure of the previous CEO and CFO.

• The company is intensifying its efforts in sales model adjustment in Canada and ramping up HD-9 distributors, aiming for strong positioning in 2025.

• New product lines, particularly in the modern soda and adult beverage segments, are being prioritized to foster growth and expansion.

Opportunities:

• With a focus on the craft and modern soda segments as well as the adult beverage market, Jones is driving innovation to meet consumer demand and exploring significant growth opportunities in these areas.

• The launch of new products like Pop Jones and the expansion of the Mary Jones line are poised to enhance market presence and capitalize on trending consumer preferences.

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