Vita Coco Doubles Down on Growth Targets Despite Supply Chain Headwinds and Activist Scrutiny

NEW YORK, March 26, 2025 — Faced with criticism from activist investor NINGI Research, who disclosed a bearish position in COCO stock, The Vita Coco Company has moved to defend its business fundamentals and market outlook. The beverage platform operator, whose portfolio spans the flagship Vita Coco coconut water brand alongside sustainably packaged offerings Ever & Ever and PWR LIFT, stands firmly behind its fiscal 2025 guidance despite acknowledged operational challenges.

Setting the Record Straight on Operational Headwinds

The core tension centers on supply chain disruptions that have impacted the company’s performance. During the fourth quarter 2024 earnings call on February 26, 2025, Vita Coco management detailed how inventory shortages throughout the previous year created service gaps in its private label business segment — areas where the company acknowledges it fell short of internal benchmarks.

The ripple effects are quantifiable: anticipated revenue headwinds in specific regional markets as certain private label retail partners transition away from Vita Coco during the coming year. These shifts will first surface in second quarter shipment data, with broader implications materializing across subsequent periods. However, management confirmed these scenarios are already factored into its full-year net sales projections announced in recent filings.

Why the Market Should Look Deeper

NINGI Research’s report, according to the company, contains “numerous inaccuracies and mischaracterizations” regarding Vita Coco’s governance, reporting standards, and operational practices. The company emphasizes it has addressed these inventory and service-level issues through consistent public communications rather than obscuring them — a posture that contrasts with the activist’s apparent characterization.

Since the February earnings disclosure, Vita Coco states there have been “no material changes” warranting guidance revisions. The company maintains confidence in its financial controls, business model resilience, and long-term expansion pathway.

A Decade-Plus Runway Under New Leadership

Founded in 2004 by Michael Kirban and Ira Liran, Vita Coco has evolved into a certified B Corporation and public benefit entity. Coconut water remains the company’s anchor, marketed to post-workout consumers, smoothie enthusiasts, and the cocktail mixer segment. The broader brand family now encompasses premium positioning across hydration and protein categories.

The company’s stance: near-term inventory normalization and regional customer adjustments are navigable headwinds within a structurally sound business. Investors parsing the NINGI report may find the company’s transparent pre-disclosure of these supply constraints and their financial modeling more persuasive than activist allegations of hidden problems.