The Vita Coco Company, Inc.

Hello, and welcome to the Vitacoco Company's first quarter 2026 earnings conference call. My name is Howard. I'll be coordinating your call today. Following prepared remarks, we will open the call to your questions and instructions to be given at that time. I'd now like to turn the conference over to John Mills with ICR.

Thank you, and welcome to the Vitacoco Company first quarter 2026 earnings results conference call. Today's call is being recorded. With us are Mr. Mike Kerman, Executive Chairman, Martin Roper, Chief Executive Officer, and Corey Baker, Chief Financial Officer. By now, everyone should have access to the company's first quarter earnings release issued earlier today. This information is available on 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 results. Certain comments made on this call include forward-looking statements which are subject to the safe harbor provisions of the Private Security 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 with 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 our 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 first quarter financial results and our expectations for our full year 2026 performance. I want to start by thanking all of our colleagues across the globe for our strong operational and financial start to the year, 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 thrilled with our momentum and by the acceleration we've seen in the quarter. Our strong inventory position and quick reaction to higher demand have enabled us to deliver very strong first quarter results in global net sales, gross profit, net income, and adjusted EBITDA. Coconut water remains one of the fastest growing categories in the beverage aisle, according to our retail data, for the first quarter, 2026, growing 31% in the US and 63% in our measured European markets year over year. For the quarter, Vitacoco Coconut Water, excluding our coconut milk-based products like treats, grew 40% in retail dollars in the US. I'm very excited about our international business, which continues to grow even faster than our America's business, driven primarily by our strong performance in Europe where our organizational and marketing investments are paying off. We saw 57% retail dollar growth this quarter in our measured European markets, gaining branded share across all our major markets. We continue to explore opportunities in international markets where we believe that we are well positioned to enter and drive profitable growth long term. Looking forward, this summer we will continue to double down on active hydration across our markets As a driver of consumer growth, positioning VitaCoco as the natural choice for performance-minded consumers, while expanding more deliberately the rights of the leading sport drinks and clean ingredients, we believe that VitaCoco is uniquely positioned to recruit new consumers, increase usage frequency, and further unlock the next phase of sustained consumer growth. 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 in the beverage aisle, which bodes well for our future. We're focused on building the capacity and organizational capabilities to take advantage of this opportunity. And now I'll turn the call over to our Chief Executive Officer, Martin Roper.