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Thank you to our Global Staples Conference this year. Joining us on stage today is Amy Taylor, President and CEO and Grish Satya CFO. As many of you know, Zivia is an emerging non-alcoholic beverage company that went public about four years ago. Zivia's portfolio of products include a variety of flavors that are zero sugar, zero calorie, and naturally sweetened with stevia across soda, energy drinks, and organic tea beverages. Zivia has a wide range of flavors, Viva just reported strong Q1 results, and we're very excited to hear more about the company's recent initiatives today, including the rollout of packaging, refresh, new on-trend fruity flavors, I see some, I think, expanding distribution, and a significant marketing push. So thank you, boys, for joining me again this year. Nice to see you. All right, so I'd like to kick things off with your results last week. So your Q1 top line was robust and I think ended up coming in much better than I would say my expectations, Broad Street expectations. And it was enough so that you felt comfortable and confident to raise your top line guidance. So first, can you highlight what drove the better top line results? And then second, hoping you could highlight, you know, growth drivers as I think about for the rest of the year would be helpful. Yeah, so in simplest terms, Q1 over-delivered both on volume and price. When we look at what drove that, we did have a softer Q1 from a promotional investment perspective because we prioritized the summer for promo dollars as our new packaging is rolling out, so we wanted to align the two. And yet retail sales came in stronger than expected despite less promotional effects. So think of that as base business health. So that was a key driver. Second one, there was a little bit of help from new distribution. So we gained new distribution last year, and then we're lapping Q1 prior to that change of last year as well as some new distribution at Costco. We had a national rotation there. Thirdly, we did see some acceleration in velocity from existing distribution. And then finally in Q1, we realized our price increased both a littlebit faster and more completely than anticipated. So those are really the key drivers. Looking ahead, while last year was a big step change in distribution, getting national distribution at Walmart, this year we'll see growth a little more normalized from a mix of distribution gains, continued distribution gains, and velocity acceleration. And we have an eye on velocity acceleration in particular because we are rolling out new packaging with clear communication of YZVIA, an improved taste profile across the portfolio, innovation, and then a step change of marketing, which I'm sure we'll talk about later today. So those are some of the drivers. And then the context of that, you know, taking into account your Q2 guidance, your full year implies healthy growth. I would say, I think, my math, 5% in the second half. So I know you're investing in the brand, new packaging and marketing, but maybe talk through a little bit more about the confidence you have in being able to kind of execute on that, you know 5% growth in the back half. I think ultimately, you know, we talked we touched on sort of the first quarter, but in the second quarter, we knew there were going to be some shifts. We're obviously, as a reminder, we had talked about discontinuing our T-line, which will impact the second quarter. We had some load-ins from the prior year that were lapping with Walgreens and Albertsons in the second quarter so we knew that there would be a little bit of pressure because of that in Q2. But separately, we'd also shifted a lot of our promotional spend and marketing dollars into Q3 to leverage not only the Cardi B relationship but also the new packaging, the rollout of our new sort of on-trend fruity flavors more broadly, and then separately just the enhanced flavor profile. So we sort of have all those things coming together in Q3, the new packaging as reminders rolling out as we speak. And so that really gives us not only confidence that we can sort of accelerate growth in the back half because the very, very early reads on the enhanced packaging are positive. And so it gives us a lot of confidence that despite some of the headwinds of the consumer, we can continue to sort of drive growth. And speaking of the new packaging, so it's rolling out as we speak. When is it expected to be finished rolling out? Is it in a couple months, or how long does that process take? Yeah, it's really a Q2 rollout such that it will be complete or materially complete at the start of Q3, which aligns then with increased promotional support and some of our new marketing campaigns. And then you touched on Cardi B, so I'd love to hear a little bit more about that relationship and what she can do for the brand. Yeah. So, you know, the first thing we love about Cardi B is that she is a radically real character. We talk about our brand as being the radically real people's champion, and she certainly keeps it real by every definition. Importantly, though, what she does for the brand, in addition to, like, representing it very well, is step change reach. So she has 280 million total social media followers. She has the 25th most followed account on all of Instagram with super high engagement. So when you invest in Cardi as a partner or a mutual investment, as she also is a shareholder in the company, you get high engagement, you know, she really, really works hard for the brands with whom she partners. She has, like I said, strong reach, but then also what that manifests in is strong engagement for the consumer. So ultimately we're hoping to speak to a new consumer set, step change, the top of funnel or the top-of-mind awareness, and then drug trial for our product. And when does all of that start? It just started, kicked off. We just announced the partnership with Cardi B, and there's been a couple social posts on her side and ours. She did a spontaneous and super authentic no-makeup post from Whole Foods in the beverage aisle the other day, and that's the kind of organic and credible communication we see from her. But that's really just the announcement. What you'll see is a full campaign, including mainstream television and digital advertising this summer, concurrent with the other initiatives Girish was mentioning earlier, always on social media, a couple of appearances, some editorial support, some retail activation, and then eventually, at the right time, some product innovation that we work on together is definitely at least in the ideation stages. you okay so she came to you with some ideas they're collaborating already so she definitely has a point of view which is awesome and she and so we're able to leverage some of her ideas as well as her personal preferences so she can work on something she's really passionate about and then while we're on the topic of this to some extent you know thinking about marketing spend as a percentage of sales what is the right level you know and as i asked that thinking about the ability to you know accelerate top line growth whether it's you know from the brand new channel new innovation etc what level of spend do you think is right i think as a reminder you know we've doubled uh marketing spend as a percentage of revenue over the last two years and so i think we're starting to approach the appropriate amount of uh of marketing spend that's sort of we'll call loaded into the pnl i think we're happy with the you know we're unhappy with what we're seeing right now in terms of investment and so we could see you know certainly incremental investment as warranted uh but right now i think where we're we're very happy with kind of where it is uh today other percentage of revenue is there a particular area of focus you know that you're i don't know channeling more of that dollar spend whether it's channels brand social etc i think the critical thing for us is the right mix of brand spend all of it so establishing distinction from a brand identity perspective as well as reach so think of that as a topple funnel investments advertising etc and then closer to the point of purchase those kind of accountable dollars that drive velocity for which we can have some form of attribution and metrics, right? So retail, digital advertising. So it's a mix for us. And then I think what we've added in new is also some grassroots marketing. It's a page out of my old book from my Red Bull days, but we're doing a lot more sampling. We're showing up kind of on the ground, close to the consumer, whether it's Diplo Run Club or South by Southwest or a sampling tour that we're executing this summer. We were also a part of cardi b's first ever sold out arena tour so we had brand presence at every stop and this way we're getting cans in hand our product tastes better than ever taste is the number one driver of this category hands down and and while better for you positioning keeps people coming back it's taste that gets to the door so sampling becomes a really big priority for us speaking of that because you just mentioned it um talk to me about how you have evolved the taste profile because i think that's something you've been working on for the last few years Yeah, we're really focused on, as Gears briefly mentioned earlier, we have pruned the portfolio to get focused on soda and our nascent energy drink business opportunity over time. In the soda portfolio, we've made a couple of fundamental changes. So first of all, recall that we have a core business of soda that is kind of classic soda flavors, cola, ginger ale, root beer, et cetera. And then we have all of that. We have a lot of innovation in the fruity and fruity creamy spaces. But across the baseline, we've improved taste for about just over half of our core existing SKUs with a more sugar-like taste experience as we continue to learn best use of the components of the stevia leaf and our blend of natural flavors. So we've approved the core taste profile across the portfolio. The second thing that we've done is started to pick up a pace of innovation. So we're innovating within that core classic soda flavors. And then we've started to introduce new on-trend fruity flavors, which is bringing a new shopper to the franchise as well. And then finally, just expanded distribution and presence is helping us to drive trial against the two areas at play, right, the core soda flavors and then the innovation piece. And as you mentioned, you're picking up the pace of innovation. Are you also discontinuing any SKUs, or is it just continuing to adding to the portfolio? You know, so far distribution has been the gift that keeps giving. So our new products have demonstrated remarkable incrementality to our existing portfolio, which I think just bodes well for the future productivity of innovation. But yes, in time, there's also some flavors that can kind of find their way out, so we make best use of every linear square foot on the shelf. And in terms of household penetration, I think you mentioned during Q1 call that you're in the mid-single-digit range. How does that compare to last year? I was trying to remember. And then ultimately, what's a realistic goal for household penetration for your portfolio? Sure. So I would tell you, if we back up a little bit to the story of the brand, we had to settle our household penetration based on a couple of initiatives first and then get back to growth. And what I mean by that is we pruned some unproductive portions of the portfolio, getting out of mixers and kids and now tea. And then we also, in the midst of a supply chain transition, lost distribution at Sam's and at Target, as Target launched a private label. Now, we expanded distribution in 2025 to 100% of Walmarts in the U.S. and about half the business in Canada and growing. And that was then a step change back for household penetration, as you mentioned, into the mid-single digits. but all the additions both from a distribution and new consumer perspective from here forward is net additive so i think with some of these initiatives we've talked about in the pipeline we expect to see continued steady growth from household penetration from here forward we have distribution upside in club i mentioned you know target of course and then just continuing to win new consumers in existing distribution as well and i'm thinking um about the current environment whether it's you know legislation secular trends etc how do you think about your portfolio your brand you know possibly capitalizing you know on some of these trends do you think about being advantaged relative to peers and you know can this ultimately drive faster growth for your your business or the medium term i think so so there's a macro move away from sugar we know this, especially relevant for a younger consumer, they're looking for a clean label product. We have the fewest ingredients of any soda on the market. So no artificial ingredients is certainly an advantage for us. But within our peer set where we sit on the shelf next to modern soda, we're also the affordable player. We're the key performer when it comes to kind of core soda flavors. And we're the multi-pack and home stocking brand. And in an environment where folks are thinking twice with their discretionary income, we find that, you know, kind of overperforming as a home stocking brand is really to our advantage. Another place where we spike from a strength standpoint is e-commerce as well as digital, retailer.com and click and pick type of an environment. So all of these tend to be a little bit more resilient. We are not immune to the macroeconomic climate, of course. That's why we're a littlebit cautious about how do we project. But we do think that we have a relative advantage within the category, given our price points that look a little more like a soda than the rest of the category who is close to twice our price point per unit. True. And then I think about the context, you know, your position, the better for you, you have every segment. But if I think of all the big players and new entrants, it's gotten quite competitive. So how are you dealing with that competitive, you know dynamic and you know what kind of pressures are you seeing and how do you feel that you're going to be able to to kind of win there net net the excitement in the beverage category the return to growth for csd and then the rapid growth of what they're calling modern soda or better for you those are tailwinds for us net net their tailwind because in our early stages we were you know by far away the number one brand in a category that didn't garner a lot of attention and now we're a top brand in one of the most exciting categories in beverage. So when you think about the modern soda category in a Walmart or an Albertsons and increasingly in additional national and regional grocers getting set up as a true category, there's a foot traffic impact for us. We're getting trials from folks that are trying products across the category, and that's been, again, a tremendous tailwind. But the competitive environment for us just is indicative of the future opportunity. At the end of the day, 90-plus percent of households stock soda, and people are increasingly leaving the category because of sugar or artificial ingredients, and we're literally a solution for both, and we taste great at a great price point. So all the macros point to Tailwinds or Zevia for the long run, and our job is to continue to churn out great-tasting products, keep the price point accessible, and drive distribution so that we're at arm's reach. Yeah. I want to ask about GLP-1s. I'm curious because I touched on some of this, and how is that impacting your business as we see potentially more consumers going on GLP ones, et cetera? Is that a potential opportunity risk? Have you seen any noticeable consumer behavior changes? No, I think we observe the same trends that others report on, meaning folks are snacking less, but for beverage, that's not necessarily the case. So we provide support for someone on a wellness journey kind of with or without glp-1 but being able to have like a tasty hydrating treat with zero calories zero sugar and no impact on the glycemic index is certainly a complement to a wellness journal a weight loss journey inclusive of glp1 so if i had to pick between a headwind or tailwind i would definitely say the tailwind and i think we're a great sort of treat halfway through your day your first thing in the morning or otherwise along with food as well for a GLP-1 user. When I circle back to innovation, you know, the pipeline, you mentioned on your recent call that, you have some new product launches and early signs of incrementality. Can you touch a little bit more on that? And maybe, you just in general, because Amy, I've known you for a few years, can you speak about the evolution of your innovation pipeline just generally as well? Sure. So the comments we made on the call were as follows. is there was one retailer at which our new items were delivering 38% incrementality and a second retailer where our new atoms were delivering 53% incrementally. Now, we don't expect that to sustain. That doesn't indicate 150% growth. But what we do know is that that's indicative that our innovation is additive to the portfolio. And that's really one of the stories of Xevia overall is that we are powerfully incremental. This is what the retailer, of course, wants to hear as well. So as more and more functional beverages at high price points come into the category, they are stealing share from the top two functional brands and far less so from us. It indicates that we play a unique role in the category. So how do we innovate based on that insight? We want to continue to grow with our kind of loyal user that is drinking our cola and our root beer and our ginger ale and those classic soda flavors. And then we want to continue to surprise and delight and bring younger consumers in with this fruity and fruity-creamy. So I'll use examples, our orange creamsicle flavor, our strawberry lemon burst, which was new news from last year, an up-and-comer strawberries and cream, which has become the number one ZBSQ at Kroger and we think has tremendous opportunity for nationwide distribution next year. So those are some examples of just continuing to diversify the portfolio, bring in new and younger shoppers to complement the loyal base that drinks our classic soda flavors. And with some of this innovation, are you structuring it such that it's staggered as you roll it out into the marketplace, as I'm thinking through peak summer selling? Yeah, a lot of time what we'll do is we'll bring in a limited-time offer or a retailer exclusive. That is both tactically advantaged to help us kind of get things done with a specific retailer, but it's also a great opportunity to road test a new flavor, build some proof points, and then bring that with tremendous confidence to the full market the next year. So you are seeing that pattern, and that has been what we've learned has worked for us. All right, I'm excited to try some of it. I brought you a few in the back. Yes, all right. And then spring shelf resets. I'm curious to hear. I think your shipments were strong in Q1, but I think you suggested maybe a little bit pressure on Q2 shipments potentially. I'm just trying to think through the phasing of that, And how do I think about that in the context of spring resets or shelf space gains this year? Maybe I can share a little bit on the spring resuts, and Gears can talk about the phasing of our growth expectations and what pays into that. So last year we had a big step change in distribution with National and Walmart, which I mentioned. But we also increased our space by 30% in a major grocery operator, Albertsons. But Albertson's, again, in 2026 will increase Zevia space more. In part, that's because the entire category is growing, and in part, it's because our velocities are accelerating. So the learning is when you set the shelf properly for Zevia, Zevia is incremental to your growth. And so we're continuing to take that story to other retailers, and we'll see improved spring sets across Kroger, and the other ones that I mentioned in prepared remarks were HEB and Publix, but there are more. So we're bullish on just continuing to chip away at same-store distribution increases, both through incrementality from innovation and through insights-based selling that gets us up to that vertical brand block and eye level. So that is part of what will contribute to our growth and the balance of the year, although our eye is largely on velocity. Maybe you could talk about the phasing a little bit. Yeah, I think just coming into the year we knew Q1 and Q3 were going to be sort of the big quarters, and then Q2 and Q4 we're going to have some sort of headwinds, and I think, again, the discontinuation of the T-line, the lapping of some of the one-time pipeline fill from last year, and then just our shifting promotional calendar and shifting club rotations are really going to drive some of that volatility quarter over quarter. So generally speaking, I think we're seeing a lot of strength in the base business, as we alluded to earlier. And so I think although there are some shifts, which are normal, I don't think it's anything that we're concerned about. Yeah, it's just timing and, okay. And then on your Q1 call, you also talked about passing through a price increase, but no further plans for pricing, I believe. So maybe remind us of the pricing that you're expecting this year versus your approach in prior years and just the cadence of that. Yeah, so I think we're really laser focused on the consumer and really trying to understand, we all see the same things, right? We all see this K-shaped economy I mean, we know we have a very broad consumer base, and so we want to ensure that we're delivering as much value as we can to the consumer. And so as a reminder, we actually did not take price last year, and so We passed through a moderate price increase earlier this year, primarily to offset some of the headwinds that not only we experienced last year but also knew we were going to experience this year as it pertains to aluminum. So that being said, again, we're really trying to maintain that sort of affordability angle of our value proposition, and, you know, as Amy alluded to, we're priced at a slight premium to conventional soda but at a significant discount to the rest of the modern soda sort of competitive set, and we think that's an advantage, especially today. And so given that we're also a multi-pack, you now, home stocking brand, which, again, all very unique and sort of can play into a sort of long-term moat for the brand, but, again from a pricing standpoint, I think we're comfortable with sort of where we are right now. I don't know that we're, you know, going to sort of pass through a second price increase. It's probably pretty unlikely. But, again, we'll re-evaluate that as the year goes on. Okay. And what about package innovation? I'm thinking of RGM or price pack architecture, you knows, other ways of maybe if you need that to offset some of the headwinds, which we'll talk about. Sure. Yeah. Do you want to? Yeah, no, I was going to say there's still a ton of opportunity in that regard, meaning there's obviously some opportunity for us to continue to find incremental cost-out opportunities, but that being said, there's also incremental opportunity to drive more favorable package mix as well, which can help offset some of those, whether that's further mixing into singles. Our energy portfolio is highly accretive, and then certainly playing with different pack sizes will allow us to offset and mitigate some of the pressures. Okay. I wanted to switch gears a little bit, just kind of go back to the club channel, because you did talk about this on your call in terms of the national rotation program at Costco, which really has given you access to new markets, consumers. So what else have you seen with this program? And do you expect it to result in additional rotations or maybe permanent new distribution? Those would be the two great outcomes, right? So we probably in the early days got into club too early we are now establishing a healthy and sustainable approach to club you know from a pricing and flavor mix and pack size and everything so we had a national rotation meaning 100 of outlets uh in january and what that helped to do is not only kind of confirm you know put us at the front of store and confirm strong velocities in our existing footprint but open the door to exactly what you said which would be incremental rotations in in in new regions uh permanency so new permanent item status in a number of regions and or a national rotation. So there is some club in our presumed outlook or some club presumed in our outlook, but incremental club distribution would be upside on the current guide. Have you quantified, I guess I could look into this, what percentage of your portfolio is in club? We haven't. We haven'T. It's not a major one, but, you know, club is strategically club is a sort of a treasure hunt. and it's a place to find new consumers and drive trial, and that's really why we're focused there. And, of course, volume helps bring scale and profitability to the channel, but right now it's not a major driver of the business from a mixed standpoint. To your point earlier, you see further opportunities within Club, whether it's at other retailers like Sam's. That's right. Upside on Club for us is incremental Costco. Sam's is white space for us. BJ's, there's incrementality to be had at BJ's and then Restaurant Depot and Jetro. Okay. food channel um you've been making some nice distribution gains and especially you mentioned albertson so what percentage of your business in the food channel or is in the feed channel and how much more growth do you see there yeah so we haven't um broken down channel splits but food is a top channel for us and it continues to grow and we're seeing some where we set the shelves properly and have a full mix of the assortment we gain share and so this is a great story because for the retailer, it's incremental. And for us, we continue to help support user-based growth. So we have same-store distribution growth opportunities. We have ACV or SKU distribution growth opportunities in-club. And then we really believe that the marketing, packaging, and taste improvements will drive velocity acceleration. So those are really the three opportunities to drive further growth out of food. So, we're pretty bullish on food, actually. All right. Anything else that I didn't ask about as it relates to channel mix? you know because i food service and you know yeah i think the the next frontier is singles for us most beverages are built through singles driving trial and then you move people up to multi-packs xivia did it backwards we're a multi-pack brand we're home stocking brand so we sort of super serve our super fan and now our opportunity with this new packaging is to finally really drive singles right and so that's that can be in grocery and it can be a natural which often operates a bit like a deli, but to your point, the white space is food service and convenience. When the category is broadly ready for convenience, or rather when the convenience channel is ready for the category, we will be there and we'll build that in a steady way. But in the meantime, food service is a great place to direct trial. And you've made progress within the C-Store channel. Yeah, we have some regional pilots. We're there. We have some learnings. It's just really a matter of change that fits the brand, meaning who is their shopper and are they looking yet for a better for you product. We think that over time, kind of next generation, that'll be 100% of convenience stores, but it'll take some time to get there. Yeah. All right. Now I want to pivot to the fun topic. Yes and no. Gross margins and costs. Look, your gross margins were down in Q1. You expect margins to be under some pressure this year, as most do, given some higher costs from whether it's aluminum fuel increases. So can you talk a little bit about some of the levers you have to pull in the near term to offset the impact? And then also curious, as we're talking about this, where do you source aluminum, you know, from? And have you broken out what percentage of cogs? Yeah, so I guess there's a few questions in there. So I'll try to unpack them. But we haven't, like everyone else, we're seeing, you Know, tremendous sort of inflationary input cost environment. And so as a reminder, we've taken $20 million out of the cost structure. We see room to take another incremental $3 to $5 million towards the end of the year, maybe really the beginning of 2027. We've largely found opportunities in COGS and in selling and transportation expenses is fundamentally where we've taking the majority of the expenses out. There'll continue to be opportunities there. I think in the short run, for a business our size, there aren't a lot of levers that we have to pull, you know, given we have an asset light model, we really leverage the aluminum purchasing contracts and aluminum purchasing practices of our co-manufacturing partners. And so we continue to work with them. But as we talked about earlier, you know, the levers really are around price pack architecture, around, you know, penetration into, you know, singles, and then driving, you know, more penetration into our energy drink business, which has very, you know, high margins. So those are some of the levers we have to play with. And I think generally speaking, you know, we've made a lot of progress on the cost out. But, you Know, some of that is just we're dealing with the same transitory, you know, headwinds that everybody else is dealing with. And some of the cost savings, was that already planned? Or was that anything that you were able to pull forward? You know, some of these initiatives? Are there probably other opportunities? I mean, I think it's sort of an ongoing, you know, exercise where, and the $20 million, as a reminder, you know will be completed this quarter and so that sort of completes the sort of initial transformation journey that we talked about you know two years ago and so uh there will be the three to five is probably what we pulled forward um from 27 into sort of end of 26 um given some of the incremental headwinds we're seeing and your gross margins in q1 were 48.4 percent what do you think is a realistic you know gross margin over the i don't know medium long term i'd say the long term yeah no it's a great question long term this should be a business with sort of mid 50s gross margin uh you know we would have been in the low 50s uh setting aside all of the you know tariff uh fuel impacts and so you know i think we're we're on the we're in the middle 50s and we're on that path and we'RE on that journey to get there how will we get there again it's mixing into singles, you know, driving a higher mix into energy. Obviously, don't we price opportunities, you know? Over time, we see price opportunity, and then with more scale, we'll be able to drive more efficiencies. And so, the path is clear. We just have to continue to sort of go down it. I'm looking at the clock. Maybe we should, I want to spend a couple of minutes on energy, because you've touched on this, because clearly, by background, we've seen this category growth, which has been incredible. So what is your approach to the energy? Yeah, I think every time we've talked about this, I've nodded and acknowledged that we have a nice small energy drink business, but now we're ready to get after it. And what do I mean by that? So we have truly been through a very specific and disciplined and well-implemented transformation program, and now we stand on a really solid foundation, you know, with a path to profitability and a more efficient operation. And that gives us organizational bandwidth to turn our focus to what now I think the consumer is catching up to, which is the overlap between those that would choose to drink an energy drink and are looking for a clean label product. That overlap did not exist before, right? So there's a mainstream, you know it well, the mainstream energy drink category. There's over the last five to ten years fitness energy, which has really exploded. But those are not necessarily what I'll call clean label products. So for those that are seeking to avoid artificial ingredients but want the benefit of an energy Drink, We think we're proverbially skating to where the puck is going, and we're actually really excited about our energy drink business. It's profitable, it's healthy and growing in the natural channel and in e-commerce. And so with sort of concepting a marketing plan and an expansion plan around that, more to come in the coming quarters to talk about 27 and beyond, but that's a material next revenue source for us that would really be complementary to our margins. Yes, because you touched on it. And to our user base. And not only that, but top line and then margin and profitability. Yeah, all the way down. It's a very attractive category, as you well know. Yes. No, exactly. And speaking of profitability, I know we've talked about this in the past, but, you know, EBITDA, you don't have profitability. What is the end game, or when do you expect to be able to kind of cross the line of becoming profitable? Yeah, and look, I mean, ultimately, if you were to sort of strip away the fuel and aluminum impact, I mean we would be in the mid-single digits, you Know, this year. And so, of course, there's some unforeseen and uncontrollable events. And so we do see those as transitory. Fuel will eventually come back in line. And so although this year will be a bit of a challenge, but, you know, as a reminder, on a trailing 12-month basis, we're basically EBITDA neutral. And so you know we're at that cusp, right? And so really it's about underpinning, you now, the business, our very strong unit economics. And so as we continue to prioritize investment and continue to prioritize, you know, accelerating top line growth, you know, we, we will get there. And, you know, I think it's, it's all that we thought we'd be there this year. It's, you know, probably just gets pushed. It gets pushed by a year, but generally speaking, you know, we're very confident that, that that will happen and it's just going to, you know, take a little bit, a little longer than we had anticipated. Well, it sounds like you have a lot of, you know, green shoots this year and then really the setup, you know for 27 sounds like just, you know, kind of heading into the year from a, position of strength too with everything that you just touched on we can say that with confidence yes good to hear okay the final minute what do you and i think i always ask you this but i'm curious to hear what you think investors might be missing in terms of you know your performance and whether it's the stock you know yeah you know this is a business that answers the tension in one of the largest categories in all of cpg which is carbon a soft drinks and we we solve the problem which the tension between health and taste. Great tasting product that's healthy. And so with 5% household penetration, now a stable foundation, increasing distribution, really strong package, communication, refresh, improved taste, and a rapid pipeline of innovation. What I'm excited about demonstrating in the back half of this year is that when we're able to invest in marketing on that foundation that I just described, we're going to start accelerating velocities and step changing the user base. And while I don't necessarily sit here and tell you that this will be an 80 or 85% household penetration brand, today it's around five, and I can see it being eight and 10 and 15 and 20. And I really see such a massive opportunity for this brand as really the perfect solution to the problem that carbon dated soft drinks has with the next generation. So it's a long-term play. Girish is demonstrating how we're going to get there in the near term as well, but I think the opportunity is probably much larger than people would see at first glance. Okay. Perfect. Thank you. Cool. Thank you very much, Bonnie. Thanks for having us. Thanks, Bonnie All right. Thanks, everybody.