Caisse de Depot et Placement du Quebec and its affiliate CDP Investissements Inc. disclosed a joint sale of 2,971,664 shares of Zevia PBC Class A common stock (NASDAQ: ZVIA) executed on September 30, 2025. The shares were disposed of at $2.73 apiece, producing a combined transaction value of $8,112,642.
Following the transaction the two entities continue to hold a combined 17,050,428 shares of the company. Market pricing data provided by InvestingPro indicates Zevia's current share price is $1.89, a 31% decline from the price at which the block was sold and part of a broader 57% fall over the past year.
On the financial front, Zevia remains unprofitable on a trailing-twelve-month basis, reporting a net loss of $14.31 million. At the same time the company presents a solid short-term liquidity position, with a current ratio of 2.27 and a balance-sheet profile that includes more cash than debt, according to InvestingPro commentary. That same InvestingPro analysis suggests the stock may be undervalued at present levels and points readers toward additional ProTips and Zevia’s Pro Research Report for deeper context.
Operational results released for Q3 2025 provided mixed but constructive signals. Zevia posted an adjusted earnings per share of -$0.04, outperforming the -$0.06 analysts had expected. Revenue came in at $40.8 million, topping consensus estimates of $39.26 million. These results indicate revenue growth and narrower-than-anticipated losses for the quarter, even as the company remains in the red on a trailing basis.
The company also announced a board appointment as part of its governance updates. Suzanne Ginestro, currently Chief Marketing Officer at Califia Farms, will join Zevia's Board of Directors and take a seat on the Compensation Committee. Ginestro brings more than 25 years of marketing experience to the role, according to the company announcement.
Taken together, the insider sale, the latest quarterly beat on revenue and EPS, and board-level additions sketch a nuanced picture: Zevia shows operational progress on revenue and margin improvement in the quarter, but it remains unprofitable and its stock has experienced substantial declines over the prior year. Investors seeking further valuation context are directed to InvestingPro's research materials referenced in the filing and company disclosures.
Clear summary
The Quebec pension fund and its investment arm sold roughly 3.0 million shares of Zevia at $2.73 a share on September 30, 2025, for $8.11 million. After the sale they still own just over 17.0 million shares. Zevia beat Q3 expectations for both EPS and revenue but recorded a net loss of $14.31 million over the past twelve months; the balance sheet shows a 2.27 current ratio and more cash than debt. InvestingPro notes the stock has fallen 57% in the last year and may be undervalued, per its analysis.
Key points
- Caisse de Depot et Placement du Quebec and CDP Investissements sold 2,971,664 ZVIA shares on September 30, 2025, generating $8,112,642.
- Zevia reported Q3 2025 EPS of -$0.04 and revenue of $40.8 million, both above analyst expectations.
- The company remains unprofitable on a trailing-twelve-month basis with a -$14.31 million net income, but holds a 2.27 current ratio and more cash than debt.
Risks and uncertainties
- Continued unprofitability - Zevia reported a -$14.31 million net income over the last twelve months, indicating ongoing losses.
- Share-price volatility - The stock has declined 57% in the past year and is currently trading 31% below the September 30 transaction price, suggesting market instability.
- Valuation ambiguity - While InvestingPro indicates the stock may be undervalued, that assessment introduces uncertainty rather than a definitive valuation outcome.