Boston Beer makes and sells alcohol beverages in the U.S. and select international markets, competing primarily in what it calls the "beyond beer" category — flavored malt beverages (FMBs), hard seltzer, hard cider, and spirits-based ready-to-drink (RTD) beverages — which represent roughly 86% of its volume, with traditional craft beer making up the remainder. Boston Beer's portfolio is built around five core brands: Twisted Tea, the company's largest brand and the #1 FMB in the U.S.; Truly Hard Seltzer, one of the top two hard seltzer brands; Sun Cruiser, a vodka-based iced tea and lemonade RTD launched in 2024; Samuel Adams, a flagship craft lager; and Dogfish Head, a craft beer and distilling brand acquired in 2019. Secondary brands include Angry Orchard, the #1 hard cider in the U.S., and Hard Mountain Dew, a licensed FMB produced under a PepsiCo agreement. Boston Beer sells through a three-tier distribution system — to over 300 independent U.S. wholesalers, who sell to retailers and bars, and ultimately to consumers. Revenue is driven by volume, pricing, and product mix. Key profit drivers include brewery utilization (internal production reached ~86% of volume in 2025), procurement savings, and mix shift toward higher-margin brands like Sun Cruiser. Boston Beer's growth strategy centers on brand innovation, increased advertising spend, and a multi-year supply chain transformation targeting sustained gross margin in the high 40s to 50%.