Suja Life, Inc.

Second-quarter net sales increased 11.6% to $83.9 million. Gross profit increased 10% to $39.2 million, or 46.7% of net sales, versus $35.6 million, or 47.4%, a year ago. Adjusted EBITDA increased 50% to $14.6 million, or 17.5% of sales, versus $9.8 million, or 13% last year. Net loss was $27.8 million versus a $5.7 million loss a year ago, including $25.1 million of IPO-related transaction costs and $2.3 million of debt extinguishment loss. For full-year 2026, Suja now expects net sales of $360 million-$369 million and adjusted EBITDA of $70 million-$72 million; Jeff also said Q3 net sales are expected to be about $71 million, gross margin about 47.8%, and adjusted EBITDA margin about 15.2% at the midpoint of the full-year range.

Maria Stipp framed the quarter as evidence that the business is still gaining share and executing well, while acknowledging that grocery weakened in early July. Her tone was confident and action-oriented: she repeatedly stressed that management has identified the issue, is responding quickly, and is willing to lean into promotion, distribution, and lower-funnel marketing to defend share. She also highlighted long-term strengths in cold-pressed juice, new innovation, and retailer partnerships, saying the company is planning for 2027 innovation now.

Jeff Pedersen emphasized that first-half performance was in line with expectations and that Q2 growth came from volume, distribution gains, and strong performance in core products. He noted gross margin held up despite a slight decline due to unfavorable absorption timing from Q1 inventory builds, and said SG&A was $59.7 million including $25.1 million of IPO-related costs, with other SG&A at $34.6 million versus $33.8 million last year. He also pointed to $20.6 million of cash and $163 million of total debt at quarter-end, and said the company is pursuing a refinancing that should substantially reduce borrowing spreads and free cash flow, though the guidance does not include that benefit.

Analysts focused on why guidance was reduced, whether the issue was channel shift or competition, and how management plans to offset slower grocery trends. Management said the softness began in early July and is mainly a category/channel issue in grocery, driven by value-seeking consumers and more promotional activity, not a collapse in the underlying business. They also clarified that marketing spend is not being cut, but shifted lower in the funnel, and said they expect aggressive promotions, stronger distribution, and seasonality in Q4 to help reaccelerate sales.