The Vita Coco Company (COCO) Q4 2025 earnings summary

Executive summary

• Achieved record 2025 performance with 18.2% net sales growth to $610 million, net income of $71 million, and Adjusted EBITDA of $98 million, driven by strong branded coconut water sales and international expansion.

• Vita Coco Coconut Water outpaced category growth in key markets, with 26% sales growth and U.S. market share above 41% in late 2025.

• International segment contributed 29% of total net sales growth, with Europe, especially the U.K. and Germany, as key drivers.

• Maintained strong cash position of $197 million and zero debt at year-end.

• Asset-light model, strong cash generation, and leading market share position the company for continued expansion and investment.

Financial highlights

• Net sales increased 18% year-over-year to $610 million, with Vita Coco Coconut Water net sales up 26%.

• Gross profit rose to $223 million, with gross margin at 37% (down from 39% in 2024) due to higher costs and tariffs.

• Adjusted EBITDA reached $98 million (16% of net sales), up from $84 million in 2024.

• Net income attributable to shareholders was $71 million ($1.19 per diluted share), up 27% year-over-year.

• SG&A expenses increased 12% to $140 million, mainly due to higher personnel and marketing costs.

Outlook and guidance

• 2026 net sales expected between $680 million and $700 million, with gross margins around 38%.

• Adjusted EBITDA guidance of $122 million to $128 million, with high teens margin.

• SG&A to increase mid- to high-single digits as a percentage of net sales, with increased marketing and personnel investments.

• U.S. category projected to grow mid-teens; international business to maintain strong growth.

• Private label net sales in the U.S. expected to grow 20%-25%, with growth ramping after Q1.