Zevia makes zero-sugar, naturally sweetened carbonated beverages — primarily sodas — sold in aluminum cans. Products contain no artificial sweeteners or colors, and are sweetened exclusively with stevia extract, positioning Zevia as a better-for-you alternative to conventional sugary sodas and diet sodas that use artificial sweeteners. Soda accounts for roughly 95% of net sales, spanning 20+ flavors, variety packs, and limited-time offerings. Zevia also sells a small energy drink line, while a ready-to-drink tea line is being discontinued. Zevia sells through an omnichannel retail network across the U.S. and Canada — including grocery, natural grocery, warehouse club, mass, drug, convenience, and e-commerce — available in more than 39,000 retail locations as of 2025. A notable recent expansion brought Zevia into more than 4,300 Walmart U.S. stores. Zevia uses third-party contract manufacturers and does not own production facilities, making the model asset-light but exposing the company to input cost risk. Revenue is driven by distribution breadth, in-store velocity, and pricing. Gross margins are pressured by aluminum and stevia costs, with tariffs representing a notable headwind in 2025. Zevia reinvests productivity savings into brand marketing, running selling and marketing spend at roughly 30% of net sales, targeting household penetration growth. The company has been EBITDA-negative since its IPO but reached its first positive adjusted EBITDA quarter in Q2 2025, with management targeting positive full-year adjusted EBITDA in 2026.