The Vita Coco Company, Inc.

Hello, and welcome to the Vitacoco Company's fourth quarter and full year 2025 earnings conference call. My name is Liz. I'll be coordinating your call today. Following prepared remarks, we will open the call for your questions, and instructions will be given at that time. I'd now hand the call over to John Mills with ICR.

Thank you, and welcome to the Vitacoco Company fourth quarter 2025 and full year earnings results conference call. Today's call is being recorded. With us are Mr. Mike Kirvan, Executive Chairman, Martin Roper, Chief Executive Officer, and Corey Baker, Chief Financial Officer. By now, everyone should have access to the company's fourth quarter earnings release issued earlier today. This information is available in the investor relations section of the Vitacoco Company's website at investors.thevitacococompany.com. Also on the website, there is an accompanying presentation of our commercial and financial performance results. Certain comments made on this call include forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs concerning future events and are subject to several risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to today's press release and other filings of the SEC for more detailed discussion of the risk factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today. Also during the call, we will use some non-GAAP financial measures as we describe our business performance. Our SEC filings as well as the earnings press release and supplementary earnings presentation provide reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures and are available on the website as well. And with that, it is my pleasure to now turn the call over to Mike Kerbin, our co-founder and executive chairman.

Thanks, John, and good morning, everyone. Thank you for joining us today to discuss our fourth quarter and full year 2025 financial results and our expectations for our performance in 2026. I want to start by thanking all of our colleagues across the globe for our continued strong performance and overcoming the unusual challenges of 2025 to deliver a record year of while also staying committed to the vitacoco company and advancing our mission of creating ethical, sustainable, better for you beverages that uplift our communities and do right by our planet. I'm incredibly pleased with our 2025 full year performance, and yet even more excited about the opportunities for our category, our current momentum, and our ability to deliver very high execution levels, which all bodes well for our future. Coconut water remains one of the fastest growing categories in the beverage aisle according to our retail data for 2025, growing 22% in the US, 32% in the UK, and over 100% in Germany. For the full year, Vitacoco coconut water, excluding our coconut milk products like treats, grew 21% in retail dollars in the US, 32% in the UK, and over 200% in Germany. This helped drive our strong full-year growth in global net sales, gross profit, net income, and adjusted EBITDA. Our international business is accelerating, driven by strong performance in Europe. Our increased investment in the UK, Germany, and other select European markets is paying off with healthy growth and brand share wins, such that the international segment growth contributed 29% of the 2025 total company net sales growth. We will continue to invest in these core markets while exploring opportunities in additional international markets where we are well positioned to enter or drive profitable growth long-term. Our recent appointment of Charles Van Ness as Chief Commercial Officer with global responsibility is indicative of our focus on international business and our commitment to strategically invest in this long-term opportunity. Charles has been with Vitacoco almost 10 years, most recently leading our US sales team, which has delivered years of strong growth as he built our sales and category management capabilities. I'm excited that he is taking on this larger role as I believe that our international business could eventually be as large as our US businesses today. In 2026, We will continue to double down on active hydration across markets as a driver of consumer growth, positioning Vitacoco as the natural choice for performance-minded consumers. Building on our strong occasion-based marketing framework, we'll be expanding more deliberately into sport and recovery. We'll endeavor to leverage professional athletes and partnerships to authentically demonstrate the role Vitacoco plays in real performance and recovery moments. With three and a half times the electrolytes of the leading sport drinks and clean ingredients, we believe that Vitacoco is uniquely positioned to recruit new consumers, increase usage frequency, and even further unlock the next phase of sustained consumer growth. The acceleration of the category that we saw in late 2024 continued through 2025, which combined with improved inventory and strong execution produced our excellent full-year results. Looking forward, we expect to maintain strong growth trends as we invest in and develop the coconut water category in our priority markets and develop and nurture new markets. Our asset-light model, leading market share, and strong cash generation positions us well to take advantage of the opportunities ahead. As I've said before, I believe that the coconut water category is in the very early stages of gaining mainstream appeal on a global level. Coconut water appears to be transitioning from niche to mainstream, and we are at the forefront of that trend. If we continue the household penetration and consumption gains that we're seeing, I'm confident that coconut water will one day be as large as some of the major categories across the beverage aisle. And now, I'll turn the call over to our Chief Executive Officer, Martin Roper.