just On Call - Jones Soda ready to spend after losses turnaround
Jones Soda released its Q2 & H1 results yesterday
Jones Soda is to ramp up sales and marketing again after the company almost returned to profit in the second quarter, its CEO has said.
The soft drinks maker narrowed its losses by 77% to US$95,000 in Q2 results, released yesterday (8 August). EBITDA was $54,000 in profit for the quarter, a positive bounce back for a company that in 2011 saw $7.2m in losses.
The resurgence has been built on a cost-cutting plan that has slashed administrative and marketing costs, however in a call with analysts yesterday, Jones CEO Jennifer Cue said it is now time to reinvest in the brand “in a disciplined way”.
“We are extremely pleased with where we sit today after 12 months,” Cue said. “Now we are moving forward in investing again into sales and marketing initiatives, mostly sales initiatives and sales initiatives that are really about bringing on sales people to build our brand in the right way.”
Cue said she will spend the next few months working on next year's strategy, adding that Jones Soda still has “huge potential”.
Last year, Jones lost its NASDAQ listing because its share price had remained under $1 for too long.
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