Vita Coco Files Q3 2024 10-Q

TL;DR

**Vita Coco Q3 2024 10-Q filed. Get the latest numbers.**

AI Summary

Vita Coco Company, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial details and operational updates are provided for investors.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Vita Coco Company, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 2024-10-30 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• Vita Coco Company, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-30 (date) — Filing date
• All Market Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, Par Value $0.01 Per Share COCO The Nasdaq Stock Market
• $250 — it Insurance Corporation ("FDIC") up to $250. At times, such cash may be in excess o

Filing Documents

• coco-20240930.htm (10-Q) — 1354KB
• coco20240930-exx311martinr.htm (EX-31.1) — 10KB
• coco20240930-exx312coreyba.htm (EX-31.2) — 10KB
• coco20240930-10qexx321ceo.htm (EX-32.1) — 5KB
• coco20240930-10qexx322cfo.htm (EX-32.2) — 5KB
• 0001482981-24-000127.txt ( ) — 6361KB
• coco-20240930.xsd (EX-101.SCH) — 41KB
• coco-20240930_cal.xml (EX-101.CAL) — 51KB
• coco-20240930_def.xml (EX-101.DEF) — 187KB
• coco-20240930_lab.xml (EX-101.LAB) — 513KB
• coco-20240930_pre.xml (EX-101.PRE) — 368KB
• coco-20240930_htm.xml (XML) — 878KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 37

Signatures

Signatures 39 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements regarding our future results of operations and financial position, industry and business trends, equity compensation, business strategy, projected costs, plans, prospects, expectations, market growth, new products, supply chain predictions, and our objectives for future operations. The forward-looking statements in this Quarterly Report on Form 10-Q 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 other 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, including, but not limited to, the important factors discussed in Part I, Item 1A. "Risk Factors" in our Ann

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. THE VITA COCO COMPANY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 156,706 $ 132,537 Accounts receivable, net of allowance of $ 2,257 at September 30, 2024, and $ 2,486 at December 31, 2023 78,600 50,086 Inventory 64,905 50,757 Supplier advances, current 1,265 1,521 Derivative assets 1,299 3,876 Prepaid expenses and other current assets 27,986 24,160 Total current assets 330,761 262,937 Property and equipment, net 2,440 2,136 Goodwill 7,791 7,791 Supplier advances, long-term 2,732 2,820 Deferred tax assets, net 6,756 6,749 Right-of-use assets, net 648 1,406 Other assets 2,019 1,843 Total assets $ 353,147 $ 285,682 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 31,253 $ 21,826 Accrued expenses and other current liabilities 64,908 59,533 Notes payable, current 10 13 Derivative liabilities 4,533 1,213 Total current liabilities 100,704 82,585 Notes payable, long-term 5 13 Other long-term liabilities 318 647 Total liabilities 101,027 83,245 Commitments and contingencies (See Note 7) Stockholders' equity: Common stock, $ 0.01 par value; 500,000,000 shares authorized; 63,472,285 and 63,135,453 shares issued at September 30, 2024 and December 31, 2023, respectively 56,731,839 and 56,899,253 shares outstanding at September 30, 2024 and December 31, 2023, respectively 635 631 Additional paid-in capital 169,736 161,414 Retained earnings 153,324 100,742 Accumulated other comprehensive loss 156 ( 649 ) Treasury stock, 6,740,446 shares at cost as of September 30, 2024, and 6,236,200 shares at cost as of December 31, 2023. ( 71,731 ) ( 59,701 ) Total stockholders' equity 252,120 202,437 Total liabilities and stockholders' equity $ 353,147 $ 285,682 See accompanying notes to the condensed consolidated financial s