Financial results for Jones Soda Co.'s (OTCQB: JSDA) second quarter, ended June 30, saw revenue increase 44% to $4.5 million, compared with $3.1 million in the year-ago period. Revenue growth was primarily driven by an increase in sales of Jones’ core bottled soda products, according to the company.
Gross profit as a percentage of revenue increased significantly to 31.3% for the second quarter, compared with 18.9% in the prior year period.
Jones Soda said the improvement in gross profit margin reflects the optimization of supply chain costs and the continued shift to a more favorable product mix, including a larger percentage of revenue coming from the company’s fountain products.
Jones describes itself as the original craft soda company known for its unconventional flavors and user-designed label artwork.
The company recently announced that it is planning to enter the cannabis business and said it will share more information in the coming months.