Jones Soda's Marijuana Drinks Bring In 200% Higher Q1 Revenue, Co. Eyes Expansion And Praises New Hemp Delta-9 Products
Portfolio Pulse from Nina Zdinjak
Jones Soda Co. reported a 39% year-over-year revenue increase for Q1 2024, reaching $5 million, with significant contributions from its cannabis business, Mary Jones. The company is transitioning from a soda company to a high-growth beverage company, with new product offerings and strategic partnerships. Gross profit margins improved, and net loss decreased slightly. The company also secured a $2 million revolving credit facility.
May 15, 2024 | 11:25 am
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Jones Soda Co. reported a 39% increase in Q1 2024 revenue, driven by its cannabis business. The company is transitioning to a high-growth beverage company with new product offerings and strategic partnerships.
The significant revenue increase and strategic shift towards high-growth beverage products, including cannabis-infused drinks, are positive indicators for Jones Soda's future performance. The company's improved financial metrics and new credit facility further support a positive outlook.
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