Jones Soda Co. (OTCQB: JSDA) (CSE: JSDA) released ts financial results for the second quarter ended June 30, 2022, revealing revenue increased 35% to $6.0 million compared to $4.5 million in Q2 2021.
Q2 2022 Financial Highlights vs. Year-Ago Quarter
Gross profit as a percentage of revenue was 28.0% compared to 31.3%.
Net loss was $1.4 million, or $(0.02) per share, compared to a net income of $300,000 or $0.00 per share.
Adjusted EBITDA was $(1.1) million compared to $0.4 million. Adjusted EBITDA included approximately $1.2 million in expenses related to the development and roll-out of the company’s new cannabis products during the second quarter of 2022.
At June 30, 2022, cash and cash equivalents totaled $9.3 million compared to $4.7 million at December 31, 2021. As of June 30, 2022, all convertible debentures have been converted and …