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©2 0 2 5 T HE V IT A COCO COMP ANY, INC. 1 2025 THIRD QUARTER BUILDING THE BETTER BEVERAGE PLATFORM OF THE FUTURE
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© 2 0 2 5 T H E V I T A C O C O C O M P A N Y , I N C . 2 DISCLAIMER Non-GAAP Financial Measures In addition to disclosing results determined in accordance with U.S. GAAP, The Vita Coco Company, Inc. (the “Company”) also discloses certain non-GAAP results of operations, including, but not limited to, Adjusted EBITDA, that include certain adjustments or exclude certain charges and gains that are described in the reconciliation tables of U.S. GAAP to non-GAAP information provided at the end of this presentation. These non-GAAP measures are a key metric used by management and our board of directors to assess our financial performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance and because we believe it is useful for investors to see the measures that management uses to evaluate the Company. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparisons of results as the items described below in the reconciliation tables do not reflect ongoing operating performance. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different from non-GAAP measures used by other companies. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Investors should not rely on any single financial measure when evaluat ing our business. This information should be considered as supplemental in nature and is not meant as a substitute for our operating results in accordance with U.S. GAAP. We recommend investors review the U.S. GAAP financial measures included in this presentation. When viewed in conjunction with our U.S. GAAP results and the accompanying reconciliations, we believe these non-GAAP measures provide greater transparency and a more complete understanding of factors affecting our business than U.S. GAAP measures alone. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our future financial and operating performance, including our GAAP and non-GAAP guidance, our strategy, projected costs, tariffs, prospects, expectations, plans, objectives of management, supply chain predictions, customer and supplier relationships and expected net sales and category share growth. The forward-looking statements in this presentation are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and oth er important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company’s control. These factors include, but are not limited to, those discussed under the caption “Risk Factors” in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings with the U.S. Securities and Exchange Commission ("SEC") as such factors may be updated from time to time and which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of our website at https://investors.thevitacococompany.com. Any forward-looking statements contained in this presentation speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. Website Disclosure The Company intends to use its websites, vitacoco.com and investors.thevitacococompany.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.
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3 Q3 2025 PERFORMANCE HIGHLIGHTS VS. Q3 2024 +37% NET SALES GROWTH NET SALES $182M 38% GROSS MARGIN (110) bps ADJUSTED EBITDA1 17.8% MARGIN +51 bps $32M CASH-ON-HAND $0M DEBT$204M NET INCOME $0.40 PER SHARE$24M 1 For all non-GAAP information throughout this presentation, the U.S. GAAP to non -GAAP reconciliations may be found in the Appendi x.
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4 2025 YTD PERFORMANCE HIGHLIGHTS VS. 2024 YTD +24% NET SALES GROWTH NET SALES $482M 37% GROSS MARGIN (360)bps ADJUSTED EBITDA1 17.5% MARGIN (220)bps $84M CASH-ON-HAND $0M DEBT$204M NET INCOME $1.10 PER SHARE$66M 1 For all non-GAAP information throughout this presentation, the U.S. GAAP to non -GAAP reconciliations may be found in the Appendi x.
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To be the leading platform for brands in the functional beverage category, and help our consumers… We believe in democratizing health and wellness, while using business as a force for good to drive positive impact in our communities OUR VISION EAT A LITTLE BETTER, DRINK A LITTLE BETTER, LIVE A LITTLE BETTER
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FUTURE M&A M&A in markets and categories complementary to our portfolio and add capabilities; delivering synergies through growth acceleration and cost optimization 6 STRATEGIC GROWTH PILLARS EXPAND HOUSEHOLDS AND OCCASIONS Expand consumption occasions and gain share from retail execution with expanded package offerings Extend the brand to new occasions with new product formats and premium offerings INNOVATE OUTSIDE THE CORE Extend our brand portfolio into new categories with new product offerings tapping into new occasions GROW INTERNATIONAL International expansion with focus on growing category in UK and Germany in addition to increasing brand share in Germany
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COCONUT WATER GROWTH OUTPACING OTHER US BEVERAGE CATEGORIES; VOLUME GROWTH REMAINS STRONG EVEN WITH RECENT PRICE INCREASES 7 DOLLAR $: TOTAL US MULO+ W/C % CHANGE VS. PY Last 13 weeks - 9/28/25 VOLUME SOLD: TOTAL US MULO+ W/C % CHANGE VS. PY Last 13 weeks - 9/28/25 Source: Custom Research by The Vita Coco Company, Vita Coco Coconut Water Circana Total US MULO+ with Conv for the Last 13 weeks - 9/28/25. Charts above represent major shelf-stable beverage categories. $ per Volume % Change 5.3% 1.3% 1.4% 4.7% 5.0% 4.3% 2.4% 4.7%
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STRONG US VITA COCO COCONUT WATER SCANS REFLECTING IMPROVED INVENTORY AND HEALTHY CATEGORY LAST 13 WEEKS THROUGH 9/28/25, VITA COCO COCONUT WATER +28.3% WITH SHARE OF 43.6% Source: Custom Research by The Vita Coco Company, Vita Coco Coconut Water - Circana Total US MULO+ with Conv, L52W, L26W and L13W through 9/28/25 TOTAL US MULO+ w/C $ % CHANGE VS. PY AND VS. 2 YA L52W, L26W AND L13W THROUGH 9/28/25 VITA COCO US SHARE OF COCONUT WATER 8 VS. 2 YAVS. PY
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KEY VITA COCO COCONUT WATER COMMERCIAL INITIATIVES CONTINUE TO DRIVE GROWTH YTD MULO+ w/C $M Change vs. PYMULO+ w/C $M MULO+ w/C $M Source: Custom Research by The Vita Coco Company. Total Vita Coco Coconut Water - Circana Total US MULO+ with Conv L39W through 9/28/2025; ACV Performance represents Vita Coco weighted distribution in a given geography (e.g. Total US – Multi Outlet+, Total US – Conv), L39W - 9/28/2025 Total US – MULO+ ACV YTD '24 YTD '25 500mL 1ct Base 73 70 1L Base 70 69 500mL MPs (4pk) 62 63 330mL MPs 63 62 1L MPs 44 35 Farmers 1L 47 34 Total Brand 89 89 Total US – Conv ACV YTD'24 YTD'25 500mL 1ct Base 61 62 1L Base 7 15 Juice 1ct 26 31 ACV Performance 9
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2025 THIRD QUARTER FINANCIAL HIGHLIGHTS *For all non-GAAP information throughout this presentation, the U.S. GAAP to non-GAAP reconciliations may be found in the Appendix. Gross Margin Q3 2025 Versus Q3 2024: Volume (CE) growth of +29% Net Sales growth of +37% Gross Margin down by (110) bps primarily due to increased costs from finished goods and tariffs, partially offset by branded coconut water pricing Adj. EBITDA* increase of $9M 10
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STRONG BRANDED COCONUT WATER GROWTH IN AMERICAS AND INTERNATIONAL Vita Coco Coconut WaterPrivate Label Net Sales Growth 29.4% 42.9% 31.1% Net Sales Growth (21.4)% 29.5% (11.8)% 11
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UPDATED 2025 FULL YEAR GUIDANCE ASSUMING CONTINUATION OF TARIFFS IN EFFECT AT THE END OF Q3 2025 NET SALES ADJUSTED EBITDA1 $580-$595M $90-$95M Source: The Vita Coco Company. 1GAAP Net Income 2025 outlook is not provided due to the inherent difficulty in quantifying certain amounts due to a variety of factors including the unpredictability in the movement in foreign currency rates, as well as future charges or reversals outside of the normal course of business. 2These are not projections; they are goals/targets and are forward-looking, subject to significant business, economic, regulatoryand competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. Nothing in this presentation should be regarded as a representation by any person that these goals/targets will be achieved, and the Company undertakes no duty to update its goals/targets. 3Branded Net Sales Growth defined as Consolidated Net Sales minus Private Label Net Sales LONG-TERM GROWTH ALGORITHM2 MID TEENS HIGH TEENS BRANDED NET SALES3 GROWTH ADJ. EBITDA MARGIN 12 GROSS MARGIN ~ 36%
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APPENDIX
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Q3 2025 P&L SUMMARY $M, EXCEPT EPS Q3 2025 Q3 2024 VS. PY NET SALES $182.3 $132.9 37.2% $49.4 GROSS PROFIT / % MARGIN 68.7 / 37.7% 51.6 / 38.8% 33.2% 17.1 SG&A 40.7 31.0 31.6% 9.8 INCOME FROM OPERATIONS 27.9 20.6 35.6% 7.3 NET INCOME / % MARGIN 24.0 / 13.2% 19.3 / 14.5% 24.7% 4.8 EPS - DILUTED $0.40 $0.32 NON-GAAP MEASURES EBITDA / % MARGIN 29.1 / 16.0% 23.9 / 18.0% 21.7% 5.2 ADJUSTMENTS 3.3 (1.0) (425.6)% 4.3 ADJUSTED EBITDA* / % MARGIN 32.4 / 17.8% 22.9 / 17.3% 41.2% 9.5 Note: Amounts rounded. * For all non-GAAP information throughout this presentation, the U.S. GAAP to non-GAAP reconciliations may be found in the Appendix. 14
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2025 YTD P&L SUMMARY Note: Amounts rounded. * For all non-GAAP information throughout this presentation, the U.S. GAAP to non-GAAP reconciliations may be found in the Appendix. $M, EXCEPT EPS 2025 YTD 2024 YTD VS. PY NET SALES $482.0 $388.7 24.0% $93.3 GROSS PROFIT / % MARGIN 178.0 / 36.9% 157.5 / 40.5% 13.0% 20.5 SG&A 105.7 87.9 20% 17.8 INCOME FROM OPERATIONS 72.3 69.5 4.0% 2.8 NET INCOME / % MARGIN 65.8 / 13.7% 52.6 / 13.5% 25.1% 13.2 EPS - DILUTED $1.10 $0.89 NON-GAAP MEASURES EBITDA / % MARGIN 79.1 / 16.4% 64.7 / 16.6% 22.3% 14.4 ADJUSTMENTS 5.1 11.7 (56.4)% (6.7) ADJUSTED EBITDA* / % MARGIN 84.1 / 17.5% 76.4 / 19.7% 10.1% 7.7 15
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Q1- Q3 2025 AND Q1-Q4 2024 NET INCOME TO ADJUSTED EBITDA RECONCILIATION Note: Amounts rounded. Three Months Ended $M September 30, 2025 June 30, 2025 March 31, 2025 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 NET INCOME $24.0 $22.9 $18.9 $14.2 $19.1 $19.3 $3.4 Depreciation & Amortization 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Interest Income / Expense (1.8) (1.5) (1.5) (1.5) (1.6) (1.9) (1.7) Income Tax Expense 6.7 5.3 5.4 3.8 6.4 6.4 (1.7) EBITDA $29.1 $26.9 $23.0 $16.7 $24.1 $23.9 $0.2 Stock-Based Compensation 3.0 3.0 2.2 2.1 2.4 2.1 2.3 Unrealized (Gain) / Loss on Derivative Instrument (2.4) (1.1) (2.8) 2.5 6.0 (2.6) 2.3 FX (Gain) / Loss 1.4 (0.5) (0.6) (0.1) 0.1 (0.6) 1.9 Secondary Offering Costs — — — — (0.3) — — Other Adjustments 1.3 0.9 0.7 — — — 1.0 ADJUSTED EBITDA $32.4 $29.2 $22.5 $21.2 $32.2 $22.9 $7.7 16
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2025 AND 2024 YTD NET INCOME TO ADJUSTED EBITDA RECONCILIATION Note: Amounts rounded. Year-to-Date $M September 30, 2025 September 30, 2024 NET INCOME $65.8 $52.6 Depreciation & Amortization 0.6 0.5 Interest Income / Expense (4.8) (5.0) Income Tax Expense 17.4 16.6 EBITDA $79.0 $64.7 Stock-Based Compensation 8.1 6.6 Unrealized (Gain) / Loss on Derivative Instrument (6.3) 5.9 FX (Gain) / Loss 0.4 (0.5) Secondary Offering Costs — (0.3) Other Adjustments 2.9 — ADJUSTED EBITDA $84.1 $76.4 17