SEATTLE — Jones Soda Co. sustained a loss of $425,000 in the third quarter ended Sept. 30, which compared with a loss of $211,000 in the same period a year ago. Net revenues also were lower, falling 5.4% to $3,454,000 from $3,648,000.
“Our third-quarter results reflected continued momentum via growth in revenues from our fountain and Lemoncocco initiatives, primarily offset by a difficult comparison to prior year results due to limited time offerings of our 7-Select product that were not repeated this year,” said Jennifer Cue, president and chief executive officer. “Despite a slight decrease in revenue, we believe that we continued to make progress in several of our key initiatives during the quarter.
“As expected, our fountain and Lemoncocco businesses continued to show robust growth. In fountain, revenues were up 119% as we continued to build out our independent account base, while executing on 7-Eleven and other larger accounts. We also furthered various conversations with several large accounts that remain interested in our differentiated fountain offering. In Lemoncocco, revenues increased 38% as we continue to introduce of our 4-pack while improving sales velocity within our food service and boutique account strategy.
“In our legacy Jones business, we landed several accounts that are embracing the craft soda movement. We believe this shift toward craft soda will help stabilize our legacy Jones business as we transition into 2019. In addition, we intend to introduce three new s.k.u.s — ginger beer and two zero sugar offerings in our top-selling cream soda and strawberry lime flavors — to help take advantage of this momentum.”
In the nine months ended Sept. 30, Jones Soda’s loss widened to $1,257,000 from $463,000 a year ago. Net revenues totaled $10,218,000, down 9% from $11,116,000. FBN