One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Jones Soda Co.
JSDA · OQB · Consumer Defensive · Beverages - Non-Alcoholic
Current price
$0.27
52-week range
$0.16 - $0.40
Market cap
$33.37M
Balance sheet
Distressed
-11.60x Concerning
Net debt $1.44M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 51.8% last year.
- Risk Return on equity was -136.0% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 10.2% (peer median: 22.9%).
What this company does
Jones Soda Co.
Jones Soda Co. makes unique craft sodas, famous for their creative flavors and customer-photo labels, which it sells through a network of distributors (the companies that help get products from the factory onto store shelves). The company makes most of its money from these sodas but is trying to grow by also creating new alcoholic and cannabis-infused drinks. This matters because success in these newer, potentially larger markets could help the company expand beyond its original fan base in the competitive beverage industry.
How the company got here
Jones Soda started in 1986 as a beverage distributor in Canada, founded by Peter van Stolk. It became known for its unique approach, selling sodas with unusual flavors in places like tattoo parlors and music stores, which was different from big brands like Coke and Pepsi. A key feature that set them apart was using photos submitted by their own customers on the bottle labels, creating a strong fan following. After a period of financial struggle and leadership changes, the company has refocused on its core brand and is working on expanding its reach.
What it actually does
Jones Soda makes and sells a variety of craft sodas, which are known for being made with cane sugar instead of high-fructose corn syrup. You can find their drinks in glass bottles and cans in grocery stores, convenience stores, and some restaurants. Besides their classic sodas, they also offer other types of beverages and allow people to create customized labels for their soda bottles online. They are recognized for their creative and sometimes unusual flavors, like Blue Bubblegum and seasonal specials such as Turkey & Gravy.
Jones Craft Sodas
This is the company's main and most recognizable business, featuring a wide range of flavored sodas in glass bottles with user-submitted photos as labels. Customers, primarily in the United States and Canada, buy these drinks from various retail stores and restaurants. This core soda line is what built the brand's identity and represents the largest part of their business.
Specialty and Licensed Beverages
Jones also creates other beverage lines that target different consumer interests. This includes 'Pop Jones,' a health-focused soda, 'Spike Jones,' which is an alcoholic hard soda, and 'Mary Jones,' a line of products containing cannabis-derived ingredients. They also partner with other companies to create special edition drinks, like the 'Nuka-Cola' for the video game 'Fallout'. These newer and specialty lines represent a smaller but growing part of the company's business as they explore new markets.
Direct-to-Consumer and Other Products
A portion of Jones Soda's business comes from selling products directly to people through their website. This includes cases of their sodas, sodas with personalized labels, and other merchandise like clothing. The company also makes money by licensing its brand name (allowing other companies to use the Jones Soda name on their products). This part of their business allows them to connect directly with their most loyal fans and expand their brand presence.
What management is betting on now
The company's current strategy is focused on growing by getting their products into more large retail stores and expanding partnerships, like their program with Costco. They are also focused on disciplined cost management to improve their financial health. Management is also developing new commercial partnerships to broaden their distribution network (the system of stores and distributors that sells their products). The goal is to build on their recent sales momentum and continue to grow the business into the future.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-1.98M
FY2024 Q4
$-1.49M
FY2025 Q4
$873.00K
FY2026 Q1
$-871.00K
FY2026 Q2
$-2.02M
Revenue
$10.17M
Net income
$-650.00K
Diluted EPS
—
Operating cash flow
$-2.01M
Free cash flow
$-2.02M
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Sources
Revenue
$12.43M
Net income
$115.00K
Diluted EPS
0.00
Operating cash flow
$-848.00K
Free cash flow
$-871.00K
Fetching…
Sources
Revenue
$11.30M
Net income
$-2.11M
Diluted EPS
-0.01
Operating cash flow
$1.33M
Free cash flow
$873.00K
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Sources
Revenue
$4.50M
Net income
$-1.43M
Diluted EPS
-0.01
Operating cash flow
$-1.38M
Free cash flow
—
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Sources
Revenue
$4.89M
Net income
$2.61M
Diluted EPS
0.02
Operating cash flow
$-876.00K
Free cash flow
—
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Sources
Revenue
$4.61M
Net income
$-852.00K
Diluted EPS
-0.01
Operating cash flow
$-1.72M
Free cash flow
—
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Sources
Revenue
$3.58M
Net income
$-4.55M
Diluted EPS
-0.04
Operating cash flow
$-1.49M
Free cash flow
$-1.49M
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Sources
Revenue
$4.21M
Net income
$-2.63M
Diluted EPS
-0.02
Operating cash flow
$-1.95M
Free cash flow
$-1.98M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $0.27
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $1.4M. Interest coverage -11.6x.
Net debt
$1.44M
Interest coverage
-11.60x
Jones Soda Co.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
JSDA
BASELINE
Jones Soda Co.
Total debt $3.79M Interest coverage -11.60x This is the baseline the peer rows are being compared against.
Total debt $10.05M Interest coverage -13.67x Neither company has much profit cushion over interest right now.
Total debt $58.77M Interest coverage 21.71x This peer still has a real interest-payment cushion, while JSDA does not.
Total debt $3.76M Interest coverage -70.10x Neither company has much profit cushion over interest right now.
What you should know
The case for and against JSDA
1 Reward
2 Risks
Rewards
-
Revenue grew 51.8% last year.
Risks
-
Return on equity was -136.0% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 10.2% (peer median: 22.9%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
—
P/B
26.50x
P/S
0.86x
EV/EBITDA
-12.00x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
26.9%
Operating margin
-5.2%
Net margin
-10.5%
ROE
-136.0%
ROA
-15.9%
Health
Liquidity and balance-sheet strength
Debt / equity
3.10x
Current ratio
0.96x
Quick ratio
0.47x
Total debt
$3.79M
Total cash
$2.35M
Growth
How the business has been compounding
Revenue TTM
$38.40M
Revenue 5Y CAGR
14.4%
EPS TTM
-0.02
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-2.91M
Free CF TTM
$-1.72M
FCF margin
-4.5%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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