Vending

Jones Soda posts Q2 2021 sales, earnings gains

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August 6, 2021

Jones Soda Co. revenue, in the second quarter ending June 30, 2021, increased 44% to $4.5 million compared to $3.1 million in the year-ago period, primarily driven by an increase in sales of Jones' core bottled soda products, according to a press release.

The results marked the company's first profitable quarter since 2016 and the highest revenue number since 2012, according to the release.

Net income for the second quarter of 2021 improved to $309,000, or $0 per share, compared to a net loss of $738,000, or 1 cent per share, in the second quarter of 2020. Net income benefited from approximately $334,500 in PPP loan forgiveness. However, the company's income from operations improved to $9,000 compared to a loss from operations of $697,000 in the prior year period.

Shares traded Thursday at $1.44 today against a 52-week range of $0.13-$1.44.

"We continued to see growth in our core bottled soda business, while recovery within the foodservice category also helped us achieve our objectives during one of the more crucial quarters in a beverage company's year," Mark Murray, president and CEO, said in the release.