Equator Beverage Company (MOJO) research, news, and more from GeoInvesting

Company description

Thu, 03 Aug 2023 12:22:36 GMT

EQUATOR Beverage Company, headquartered in Jersey City, NJ, is a Delaware corporation that specializes in developing, producing, distributing, and marketing new beverage products. Our beverages have been certified Non-GMO Project Verified and USDA Organic, and we offer both nonalcoholic and ready-to-drink alcoholic options. In addition, we have a line of sparkling energy beverages targeted towards female consumers. Our beverages can be found in North America, the Caribbean, and Bermuda. We are committed to sustainability and use 100% recyclable, eco-friendly packaging that has a minimal impact on the environment. Furthermore, our products are plant-based, renewable, and eco-friendly.

Research

Mon, 23 Mar 2026 20:04:49 GMT

Equator Beverage Company (OTCQB:MOJO) ($0.73; $6.8M] market cap) announced audited Q4 and full-year 2025 results:

Q4 sales of 1.08 million vs. $0.70 million in the prior year
Q4 2025 EPS: loss of $(0.01) vs. loss of ($0.02) in the prior year
Full-year sales of $4.2 million vs. $3.2 million in the prior year
Full-year 2025 EPS: $0.01 vs. loss of ($0.09) in the prior year
The company initially in their unaudited full-year 2025 results in January, but revised its net income downward from $136,897 to $49,213 in the updated release.
Gross margin expanded to 45%, and operating income was $83,726 versus an operating loss of $(781,409) last year.
In 2026, the company already repurchased 25,000 shares and said it will pursue additional repurchases through private transactions.
The company repaid $110,000 of its term loan after year-end, reducing the balance to $230,000 as of March 23, 2026.

Management Commentary:

"We believe 2025 marks a clear inflection point for the Company. We are entering 2026 with strong momentum, improving profitability, and a strengthened balance sheet. We expect our continued execution and financial performance to be reflected in the Company's valuation over time."

Our Quick Take:

Even though we previously mentioned that Q4 would likely be seasonally lower, MOJO delivered another quarter with revenue above $1.0 million. As stated before, this marks the fourth consecutive quarter in which it has achieved this.

On the profitability side, the company generated a slight Q4 2025 loss of $127K, falling just short of break-even.

MOJO currently trades at around 1.73x EV/Sales, and we continue to believe this multiple can expand materially to 4.0x to 6.0x if it secures major distribution deals while hovering around break-even. The CEO had previously stated that he believes the company can eventually trade at 7.0x to 10.0x sales. While that is incredibly aggressive, it is worth noting that the company is buying back shares.

Please also note that when management released preliminary 2025 year-end results, the net income was higher than reported now. Net income for 2025 was $136,897 in the January release and $49,213 in today’s release. While a small difference, it would have been nice to see an explanation as to why there are two different figures provided.

EQUATOR Beverage Company develops, produces, and markets nonalcoholic and ready-to-drink alcoholic beverages, including coconut water, fruit juice blends, sparkling energy drinks, and alcoholic sparkling coconut water products.

Research

Mon, 05 Jan 2026 22:18:17 GMT

EQUATOR Beverage Company (OTC:MOJO) ($0.79; $7.3M market cap) announced FY 2025 results:

Q4 2025 sales of $1.08 million vs $0.70 million in the prior year
Q4 2025 loss per share: ($0.00) vs loss of ($0.02) in the prior year
Full-year 2025 sales of $4.19 million vs. $3.25 million in the prior year
Full-year 2025 EPS: $0.02 vs loss of ($0.09) in the prior year
FY 2025 revenue increased 29%, marking the third consecutive year of double-digit revenue growth
FY 2025 taxable income: $490,237, noted as in line or above most of the industry
Share repurchase: 225,000 shares in 2025; cumulative total of 1,084,467 shares repurchased, exceeding 10% of authorized shares (none bought during Q4).
Company implies it will continue buybacks until valuation reaches 7–10x revenue, which it views as conservative given consistent growth over the past three years

Management Commentary:

"EQUATOR delivered its highest revenue since inception. This performance reflects the work of a disciplined management team that each day works toward achieving the highest financial and operational performance to provide the highest company market capitalization for shareholders." — Glenn Simpson, Chairman and CEO

Our Quick Take:

This quarter marks the company’s fourth quarter overall with revenue exceeding $1 million and the third consecutive quarter at that level. Even though the quarter’s revenue is sequentially down from the $1.1 million recorded in Q3, we have to keep in mind that Q4 is probably a seasonally low quarter for the company.

It’s nice to see that the CEO is still pounding a table that he believes the stock is undervalued and backing up that sentiment by having the company re-purchase shares in the open market.

With that being said, we still continue to believe that for a full re-rating to the valuation that the company is referencing, that the company will need to secure broader distribution and generate more meaningful profitability.

Although, we do think an appropriate price to sales multiple could be between 4.0x to 6.0x if the company continues to stay around break even while it increases revenue. The company is currently selling at a price to sales ratio of 2.5x.

Research

Tue, 04 Nov 2025 05:00:00 GMT

EQUATOR Beverage Company (OTCQB:MOJOD) ($1.19; $9.7M market cap) announced Q3 2025 results: (Currently via 10-Q only)

Q3 2025 sales of $1,184,589 vs. $1,061,645 in the prior year
Q3 2025 EPS: $0.00 vs. loss of ($0.02) in the prior year

Our Quick Take:

The company repurchased 75,000 shares in Q3 2025, which is less than the stated goal of purchasing the at least 150,000 share goal it mentioned in the Q2 press release. This could be related to the lack of volume in the stock.

This is the third quarter in a row that the company has achieved revenues of over $1 million.

Research

Mon, 27 Oct 2025 14:44:41 GMT

EQUATOR Beverage Company (OTCQB:MOJO) ($0.60; $10.6M market cap) filed an 8K showing that the previously announced 1 for 2 reverse stock split has been approved and authorized. Shares will trade under the ticker MOJOD for 20 days, then revert back to MOJO.

On June 24, 2025, the Board and majority shareholders approved a 1-for-2 reverse stock split.

Research

Thu, 07 Aug 2025 15:07:49 GMT

EQUATOR Beverage Company (OTCQB:MOJO) ($0.51; $9.1M market cap) announced Q2 2025 results:

Q2 2025 sales of $1,102,577 vs. $845,321 in the prior year
Q2 2025 EPS: $0.01 vs. loss of ($0.01) in the prior year
Taxable Income surged to $153,056, a near fourfold increase over $40,372 in Q2 2024
July 2025 Revenue was $491,391, up 27% compared to last year. Also, orders for the first week of August have been strong.
Share repurchase: 150,000 shares repurchased in Q2 2025; 1,868,934 total to date; targeting 150,000+ shares in Q3.
Reverse stock split: 1-for-2 approved on June 24, 2025; reduction of authorized shares from 20M to 10M pending FINRA approval.

"The Company remains committed to its ongoing share buyback program, reflecting confidence in long-term value creation and its current valuation relative to fundamentals. We are expecting to purchase more shares during this quarter.”

Our Quick Take:

Please note that the Q2 numbers were released in early July. However this release highlights a strong July and strong start to August.

Research

Thu, 03 Jul 2025 14:22:20 GMT

EQUATOR Beverage Company (OTCQB:MOJO) ($0.59; $10.6M market cap) announced Q2 2025 results during the trading day yesterday:

Full details:

Q2 2025 sales of $1.10 million vs. $0.85 million in the prior year
Q2 2025 EPS: $0.01 vs. $0.00 in the prior year

“EQUATOR delivered its strongest second-quarter revenue in company history. This performance reflects disciplined execution and strategic expansion across key retail channels. Gains in grocery shelf space, coupled with continued strength in e-commerce, contributed to meaningful topline growth. Our results underscore the durability of consumer demand for our brand and our commitment to balanced, profitable growth.” — Glenn Simpson, Chairman and Chief Executive Officer

Noteworthy disclosures:

EQUATOR repurchased 150,000 shares of its common stock during Q2 2025, bringing total repurchases to 1,868,934 shares.
On June 24, 2025, the Board and majority shareholders approved a 1-for-2 reverse stock split.
The company plans to reduce authorized shares from 20,000,000 to 10,000,000, pending FINRA approval.

Key Takeaways:

Not only was this quarter a record second quarter, it was also the highest quarter in the Company’s history, surpassing the previous record achieved in Q3 2024—sales of $1.06 million.
We like that the company is sending a clear message that it does not intend to dilute shareholders by decreasing the authorized shares in conjunction with the reverse stock split.

Research

Thu, 05 Jun 2025 18:26:39 GMT

EQUATOR Beverage Company (OTC:MOJO) ($0.50; $9.04M market cap) announced Q1 2025 results: (Should be noted that we covered the Q1 results on May 8th as the company had filed its 10-Q filing)

InfoArb in the press release:

For April and May 2025, revenue was $781,132, up 35% from the same period last year. Assuming June is similar to April and May run rates, this would put Q2 2025 revenues over $1 million. It should be noted last year's Q2 was strong with $845,375 in sales.

Q1 sales of $0.82 million vs. $0.64 million in the prior year
Q1 EPS of $0.00 vs. $(0.01) in the prior year

"Equator Beverage had its highest first quarter revenue. Driving revenue was a gain in shelf space and new points of sale. The $320,743 first quarter gross profit reflects a balanced and disciplined approach to growth." – Glenn Simpson, Chairman & CEO

Research

Wed, 12 Feb 2025 16:00:43 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.69; $12.1M market cap) announced Q4 2024 results:

Q4 Sales of $699,293 vs $508,213 in the prior year
Q4 Gross profit of $260,083 vs $220,243 in the prior year
Full year sales of $3.24 million vs $2.28 million in the prior year
For the first two months of 2025, we expect revenue to be $650,000 up 76 percent from the same period last year.

"EQUATOR Beverage had its highest fourth quarter revenue. Driving revenue was a gain in shelf space and new points of sale. The $260,083 fourth quarter gross profit reflects a balanced and disciplined approach to growth while simultaneously building the business despite a significant increase in ocean freight cost."

The fourth quarter, which is typically its weakest of the year, was sequentially down from Q2 and Q3 2024. However, it is nice to see that growth momentum seems to have resurfaced with the first two months of 2025 being up 76% vs the prior year.

MOJO engages in developing, producing, distributing, and marketing beverage products.

Research

Wed, 02 Oct 2024 14:39:34 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.69; $12.1M market cap) announced Q3 2024 results:

Sales of $1,061,539 vs $675,947 in the prior year
Gross profit of $357,071 vs $308,685 in the prior year
Net income of $70,449 vs a loss of $53,911 in the prior year

“EQUATOR Beverage had its highest ever third quarter revenue. Driving revenue was a gain in shelf space and new points of sale. Unit cases sold increased proportionally to the increase in sales revenue. Our solid $357,071 third quarter gross profit reflects a balanced and disciplined approach to growth while simultaneously building the business despite a significant increase in ocean freight cost.”

“Revenue for the third quarter increased 57% to $1,061,539 compared to $675,947 for the prior-year, driven primarily by grocery store shelf space increases and online sales. We saw sustaining consumer demand growth, and overall channel growth. Same stores growth was also up year over year. Gross profit for the third quarter of 2024 increased to $357,071 compared to $308,685 for the prior-year quarter. Gross profit as a percentage of revenue was 34% for the three months ended September 30, 2024. This was very positive despite a 300 percent increase in ocean shipping costs.”

While high freight costs are still negatively impacting gross margins, the company continues to grow revenue at a very nice pace and was able to report an increase in profits, so when shipping costs normalize there could be a noticeable drop down to the bottom line, especially if revenues continue the current trend up.

MOJO engages in developing, producing, distributing, and marketing beverage products.

Research

Tue, 02 Jul 2024 17:55:01 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.38; $6.6M market cap) announced preliminary Q2 2024 results with record revenue and gross profit.

Sales of $845,375 vs $588,478 in the prior year
Gross profit of $342,892 vs $280,757 in the prior year
Taxable income of $42,449 vs $49,190 in the prior year

“EQUATOR Beverage had its highest second quarter revenue. Driving revenue was a significant gain in shelf space and new points of sale. Unit cases sold increased proportionally to the increase in sales revenue. Our solid $342,892 second quarter gross profit reflects a balanced and disciplined approach to growth while simultaneously building the business and expanding despite a significant increase in ocean freight cost which we expect to ease toward the fourth quarter of 2024.”

We did not expect Q2 revenue to be this strong. Not only is the number a second quarter record, but it was an all time record. It’s unfortunate that gross margins got dinged by high freight costs (delivering coconut from overseas), delaying the company being able to report meaningful EPS.

Regardless, the numbers are moving in the right direction and not many beverage companies are profitably at MOJO’s revenue size. We truly think MOJO is going to be the publicly traded microcap beverage company we'll be talking about in one or two years.

Research

Mon, 13 May 2024 15:21:48 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.38; $6.6M market cap) announced Q1 2024 results:

Sales of $640,653 vs $515,633 in the prior year
Non-GAAP EPS of $0.00 vs $0.00

The revenue for Q1 was a record level for the first quarter and the second highest in the company’s history. We would like to point out that there are two possible scenarios that will determine the trajectory of the stock price.

Scenario 1: We see the company making positive and respectable growth progress as it increases penetration throughout its distribution network.

Scenario 2: The company could land a new distribution agreement with a top tier company like Walmart or Costco.

We feel in scenario one the stock price would likely have a gradual move higher over time, and in scenario 2, it could be a much quicker rise. Since the company is near break-even, we feel fair value is around 4x revenue, which is still substantially less than other comparable beverage companies (even ones that are losing money). Shares are currently trading at P/S of 3.

Research

Thu, 04 Jan 2024 15:09:23 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.70; $11.8M market cap) announced 2023 results:

2023 Net Revenue was $2,288,272 up from $1,821,492 for the same period last year. This was a $466,780 increase or 26%.
2023 Gross Margin was $1,011,861, up from $630,956 for the same period last year. This was a $380,905 increase or 60%. 2023 Gross Margin Percentage was 44%, up from 35% for the same period last year.
2023 Taxable Income was $180,155, up from a Net Loss of $56,948 for the same period last year. This was a $237,103 increase or 416%. (we believe taxable income is adjusted for shareholder comp)
Q4 sales of $508,213 vs $351,760
Q4 gross profit was $220,243 vs $127,431

The company continues to buy shares back and is also seeking more opportunities to buy back any restricted stock.

“During 2023 EQUATOR repurchased 401,269 shares of its common stock. Stock repurchased in 2022 was 830,342 shares with a two-year total of 1,231,611 shares”

We are not concerned with the sequential decline from Q3 to Q4. In Q3, the company reported revenues of $675k. This has been the seasonal pattern and constant trend since their first full year of revenue in 2014. The revenues reported for Q4 were the strongest Q4 results in the company’s history.

Research

Fri, 01 Dec 2023 18:42:08 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.70; $11.8M market cap) engages in developing, producing, distributing, and marketing beverage products, announced November 2023 results:

November 2023 Net Revenue was $187,521, up from $112,342 for the same period last year. This was a $75,179 increase or 67%.
November 2023 Gross Margin was $88,207, up from $38,484 for the same period last year. This was a 49,723 increase or 129%. November 2023 Gross Margin Percentage was 47%, up from 34% for the same period last year.
November 2023 Taxable Income was $24,508, up from a Net Loss of $12,835 for the same period last year. This was a $37,342 increase or 291%.
The trailing 12-month revenue for 2023 was $2,268,050 compared to trailing 12-month revenue for 2022 of $1,847,325. This was a $420,725 increase or 23%.

During November, EQUATOR repurchased 21,250 shares of its common stock. The total shares repurchased in 2023 so far has been 401,269 shares.

Research

Wed, 01 Nov 2023 15:35:01 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.70; $11.8M market cap) engages in developing, producing, distributing, and marketing beverage products. The company announced October 2023 results:

October Sales of $184,327 vs $125,182 in the prior year
October 2023 Gross Margin was $74,006 or 40% of Net Revenue, an increase of $32,088 over the same period last year.
October 2023 Taxable Income was $7,812 a $28,396 improvement from last year.
Trailing 12 month revenues of $2.19 million vs $1.87 million
The Company repaid $50,000 in loans from officers, bringing the outstanding balance to $190,000
The company continues to seek opportunities to repurchase shares of restricted stock

Research

Tue, 03 Oct 2023 16:12:12 GMT

EQUATOR BEVERAGE CO (OTC:MOJO) ($0.75; $12.2M market cap) engages in developing, producing, distributing, and marketing beverage products. The company announced Q3 2023 results:

Q3 Sales of $675,947 vs $548,973 in the prior year
Q3 2023 Gross Margin was $308,685 or 46% of Net Revenue, an increase of $140,576 over the same period last year.
Q3 2023 Taxable Income was $75,717 a $81,465 improvement from last year.

“During Q3, EQUATOR commenced shipments to 900 new retail stores and received authorization for an additional 950 retail stores which should ship this month.

EQUATOR continues to seek opportunities to repurchase shares of its common stock that are restricted from sale or publicly traded.”

Reasons For Tracking

Thu, 10 Aug 2023 04:00:00 GMT

We decided to add a very speculative stock to the Run To One and Select Long Disclosures model portfolios.. While we are still early in our diligence process, the company is an interesting little beverage products company that’s already carved out a nice distribution presence for its legacy line of coconut water and is now ready to take advantage of that distribution presence to launch higher growth products. Its first plan of attack is to introduce a line of energy drinks targeted towards women, which it actually just launched in July.

As you know, our Run To One portfolio consists of stocks trading under $1 per share (sometimes, well under $1) that we think have a good chance of eventually eclipsing that mark should the companies achieve revenue and EPS growth commensurate with what we expect, based on our research.

The company we are talking about here is Equator Beverage Co (OOTC:MOJO) ($0.42, $6.56 million market cap) , a company that is already profitable, albeit at a small revenue base, has no debt and has cleaned up its capital structure. As a matter of fact, the company is issuing press releases, stating that it is buying back stock on the open market and will continue to buy back stock. Furthermore, the company has even reduced the amount of shares that the company will be allowed to issue in the future.

“In line with its commitment to transparency, EQUATOR has revised its corporate bylaws, significantly reducing the number of authorized shares from 200,000,000 to 20,000,000, representing a notable 90 percent decrease as of July 5, 2022.”

“Based on current projections, the Company intends to continue its share repurchase activities throughout the remainder of 2023.”

The company is now betting that its new product will accelerate revenue growth into a business model that is already slightly profitable at a small amount of revenue.

While growth has not been setting the world on fire…

… we are really curious to see what will happen now that the company has entered a much higher growth market, with its female focused energy drink line.

Furthermore, there was a little bit of information arbitrage in MOJO’s last quarterly filing, where sales were only up 9%. In the management discussion area of the filing, the company made it a point to say that revenue for the month of July was up 94% to $232,749 and we don’t think this included much contribution from the energy beverages.

One thing that has piqued our curiosity is that it appears that the CEO is an industry veteran with a solid track record who worked with marquee beverage companies in the past. However, we’re still verifying some of the public references.

But, the company has been able to create a broad distribution presence for its legacy coconut water line beverages, something we would have not expected to see from a company with small revenues. Now, it seems that the company is ready to insert a much better growth potential beverage product into that established distribution channel.

We are continuing to research the company and the potential of the female energy drink market, and are scheduling an interview with management as we speak.

At this point in the game, we think it’s too early to place a valuation assessment on the company. However, it’s worth noting that high flying Monster Beverage Corporation (NASDAQ:MNST) and Celsius Holdings, Inc. (NASDAQ:CELH) are trading at price multiples of 9.1 and 13.8, respectively, compared to MOJO’s 3.4.

We’re obviously not assuming that MOJO should trade at the same valuations as established companies like Monster Beverage and Celsius yet, but it shows the potential of where the stock could get to if the company gains momentum in its energy beverage product.

Caveats:

Stock is very illiquid, especially since the company is buying back stock.
Energy drink line is unproven.
Lack of aggressive growth in the legacy coconut beverage line.
The Company will need to expand distribution to really accelerate growth.

Stay tuned!