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We are a better-for-you beverage company that develops, markets, sells, and distributes naturally delicious, zero sugar beverages.
−Removed: We are a Delaware public benefit corporation and have been designated as a “Certified B Corporation,” by B Lab, an independent non-profit organization, and are focused on addressing the global health challenges resulting from excess sugar consumption by offering a broad portfolio of zero sugar, zero calorie, naturally sweetened beverages.
−Removed: All Zevia® beverages are made with a handful of simple ingredients which come from plants, contain no artificial sweeteners, and are Non-GMO Project verified, gluten-free, Kosher and vegan, and include a variety of flavors across Soda, Energy Drinks, and Organic Tea drinks.
+Added: We are a Delaware public benefit corporation and have been designated as a “Certified B Corporation,” by B Lab, an independent non-profit organization.
+Added: We are focused on addressing the global health challenges resulting from excess sugar consumption by offering a broad portfolio of zero sugar, zero calorie, naturally sweetened beverages.
+Added: All Zevia® beverages are made with a handful of simple ingredients, contain no artificial sweeteners, and are Non-GMO Project verified, gluten-free, Kosher and vegan, and include a variety of flavors across Soda, Energy Drinks, and Tea drinks.
Our products are distributed and sold principally across the U.S.
−Removed: and Canada through a diverse network of major retailers in the grocery, drug, warehouse club, mass, natural, convenience and e-commerce channels and in natural product stores and specialty outlets.
+Added: and Canada through a wide-ranging network of major retailers in the grocery, drug, warehouse club, mass, natural, convenience and e-commerce channels and in natural product stores and specialty outlets.
Our products are manufactured and maintained at third-party beverage production and warehousing facilities located in both the U.S.
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We believe that the foundation for our long-term success lies in creating a brand that consumers love and is known for delivering a great product with an exciting pipeline of innovation.
−Removed: We market Zevia under one unified brand across multiple beverage categories, including Soda, Energy Drinks and Organic Teas.
+Added: We market Zevia under one unified brand across multiple beverage categories, including Soda, Energy Drinks and Teas.
We believe our brand has extensive consumer reach potential, as we deliver beverage offerings with a diversity of flavors and categories that we believe appeal across multiple usage occasions, need states, and times of day, for a wide range of people across age groups.
−Removed: This is evidenced by our ranking among the top carbonated soft drink brands across multiple retail channels and on Amazon according to syndicated data sources SPINS and Circana for 2024.
Our brand has grown significantly over the past decade, which has been largely tied to an engaged and growing consumer base, broadening distribution across retail channels.
−Removed: In 2024, more than 6.6 million U.S.
−Removed: households purchased Zevia products across more than 37,000 retail locations.
Our consumers are our best advocates, and their loyalty is rooted in their alignment with our messaging and mission.
−Removed: Our consumer base over-indexes to Millennials and Gen X, particularly among Millennial parents.
−Removed: We believe this consumer base favors better-for-you options that support a balanced lifestyle and that they tend to be more affluent and less price sensitive than some other consumer groups.
−Removed: We believe Zevia consumers are heavily beverage engaged and migrate from other traditional full-calorie and low-calorie soda brands to choose Zevia as an incremental beverage choice to aid in supporting their balanced lifestyle without sacrificing great taste.
+Added: We believe our consumer base favors better-for-you options that support a balanced lifestyle and that they tend to be more affluent and less price sensitive than some other consumer groups.
+Added: We believe Zevia consumers are heavily beverage engaged and migrate from other traditional full-calorie, low-calorie and high sugar content soda and sparkling water brands to choose Zevia as an incremental beverage choice to aid in supporting their balanced lifestyle without sacrificing great taste.
We believe Zevia consumers care about their health, their diets, and their planet and are willing to pay a premium for beverage attributes that support those considerations.
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Yet Zevia is far more affordable than many or even most better-for-you beverage options, making it more accessible and appealing to more households across North America.
−Removed: According to Numerator data for 2024, Zevia households increased their spending on Zevia for the year versus 2023.
−Removed: Those households who made multiple purchases across package lines were even more engaged, more than doubling their spending on the brand versus the total average Zevia households in the year.
−Removed: We believe Zevia is positioned well within the total Zero Sugar/Diet Soda segment of total Carbonated Soft Drinks as an affordable naturally sweetened, better-for-you option.
−Removed: Zero Sugar/Diet sodas were a $11.6 billion dollar segment, growing +12% across Grocery, Mass, Drug, Club, and Natural Channels in 2024 according to Spins/Circana data through December 29, 2024.
−Removed: According to Numerator data through December 31, 2024, Zevia products finished 2024 with U.S.
−Removed: household penetration of 5% compared to 40% - 70% penetration, respectively, of more mainstream full and zero sugar category brand leaders with higher brand awareness and time in market over the same period.
−Removed: We believe Zevia has a meaningful opportunity to increase brand trial to capture more share in this growth leading segment of beverage over time.
−Removed: Each of our product lines has been carefully crafted for consumer enjoyment, with the goal of not sacrificing flavor in the process of eliminating sugar and artificial ingredients, including coloring and flavors.
+Added: We believe Zevia has a meaningful opportunity to increase brand awareness to capture more share in this growth leading segment of beverage over time.
+Added: Each of our product lines has been carefully crafted for consumer enjoyment, with the goal of not sacrificing flavor in the process of eliminating sugar, artificial coloring and artificial flavor.
In addition, continued improvement is a Zevia core value, and as such we strategically reformulate our products and develop new flavors from time to time to further enhance taste and simplify ingredients.
−Removed: Soda, our flagship product with no artificial ingredients released in 2008, is the better-for-you alternative to conventional sodas and diet sodas.
−Removed: Our Soda is available in 18 flavors across multiple packs, variety packs, and in limited time-offer flavors to drive excitement.
+Added: Soda, our flagship product with no artificial coloring or flavors released in 2008, is the better-for-you alternative to conventional sodas and diet sodas.
+Added: Our Soda is available in 20 flavors across multiple packs, variety packs, and in limited time-offer flavors to drive awareness.
Our Soda sales constituted approximately 95% of our net sales in 2025 and remains our primary focus as we see significant opportunities for growth in this product line.
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We released our Energy drinks in 2016 and this product line is focused mostly in natural and e-commerce channels today.
−Removed: We believe this product line reflects a significant opportunity to expand across multiple channels in the future.
−Removed: Our Organic Tea is a pioneer in the zero calorie, naturally sweetened ready-to-drink tea segment, and was released in 2018.
−Removed: Zevia Organic Tea is USDA Organic and brewed with Fair Trade Certified Tea.
−Removed: We offer Organic Tea in eight flavors, including one caffeine-free option.
+Added: We believe this product line reflects a significant future growth opportunity to expand across multiple channels in the future.
+Added: Our Tea is a zero calorie, naturally sweetened ready-to-drink tea, and was released in 2018.
+Added: We offer Tea in eight flavors, including one caffeine-free option.
+Added: In 2026, we will discontinue selling this product line.
We benefit from sustained shifts across the liquid refreshment beverage market.
−Removed: We believe consumers continue to be more health conscious and focused on reducing sugar in their diets and are increasingly averse to added sugars.
+Added: We believe consumers continue to be more health conscious and focused on reducing sugar in their diets, are increasingly averse to added sugars and are avoiding artificial coloring or flavors.
Many consumers are making choices with sustainability in mind, including plastic waste reduction.
−Removed: As a great-tasting, clean label beverage supporting a positive environmental and social impact, we are positioned to appeal to a broad range of consumer needs in our current markets and beyond.
+Added: As a great-tasting, clean label beverage seeking to drive a positive environmental and social impact, we believe we are well positioned to appeal to a broad range of consumer needs in our current markets and beyond.
Consumers can purchase our products both in brick and mortar stores and through e-commerce channels.
We are an omnichannel brand found in more than 39,000 retailer locations across the traditional grocery, natural grocery, specialty outlets, warehouse club, drug and convenience channels, and on e-commerce platforms.
−Removed: ESG and Social Impact
−Removed: Our focus on ESG is core to how we conduct our business, and we believe this focus makes us a more successful company.
−Removed: We are dedicated to acting responsibly and strive to do our part in making the world a better place with every drink.
−Removed: We are committed to creating real ESG impact through combatting the harmful effects of sugar, reducing plastic waste, democratizing healthier options and fostering an employee-centric culture.
+Added: Sustainability and Social Impact
+Added: We believe our focus on sustainability makes us a more successful company.
+Added: We strive to act responsibly and contribute to making the world a better place with every drink.
+Added: We are focused on creating real impact through combatting the harmful effects of sugar, reducing plastic waste, democratizing healthier options and fostering an employee-centric culture.
As a public benefit corporation, we are guided by our mission of creating a world of better-for-you flavor, better for the people and the planet.
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We estimate that by choosing Zevia, our consumers have avoided over 103,000 metric tons of sugar in their diets since 2011.
−Removed: Sustainable packaging remains a key priority and we continue to seek to minimize our environmental impact.
−Removed: We take pride in reducing plastic waste by using only aluminum cans as beverage containers.
+Added: Sustainable packaging remains a key priority and we continue to seek to reduce our environmental impact.
+Added: We take pride in using only aluminum cans as beverage containers rather than plastic bottles, which can generate plastic waste.
Since our founding in 2007, we have never sold a beverage in a plastic bottle.
−Removed: Through only using aluminum cans, we estimate that we have saved over 30,000 metric tons of plastic and consumption of our products has resulted in the avoidance of over one billion plastic bottles since 2011.
+Added: By only using aluminum cans instead of plastic bottles, we estimate that we have avoided over 34,000 metric tons of plastic and that by consuming our products rather than plastic bottled sodas, consumers have resulted in the avoidance of over one billion plastic bottles since 2011.
In addition, we reduce our use of packaging materials where feasible.
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Our historical marketing strategy relied heavily on driving trial and conversion at the point of purchase in retail outlets.
−Removed: In 2024, we shifted resources to complement our retail efforts and strategically made investments in the second half of the year to amplify our brand and to clarify our points of differentiation on taste and ingredients to help drive trial and grow customer conversions.
+Added: In 2025, we shifted resources to complement our retail efforts and strategically made investments to amplify our brand and to clarify our points of differentiation on taste and ingredients to help drive trial and grow customer brand awareness.
Our brand strategy is to position Zevia as the best alternative to artificial soda, highlighting both our product benefits (zero sugar, zero artificial sweeteners, zero artificial colors) and our differentiated brand position, celebrating “real” in an increasingly “artificial” world.
−Removed: In line with our brand building efforts, our marketing ecosystem continues to scale with increased positive results in social media engagement, reaching consumers through influencers, and effective digital and audio advertising, that we expect to help drive purchase intent as well as conversion at the point of purchase.
−Removed: Our ecosystem will be leveraged for future Brand content and product launches.
+Added: In line with our brand building efforts, our marketing ecosystem continues to scale with increased positive results in social media engagement, reaching consumers through influencers, and effective digital and experiential advertising, that we expect to help drive purchase intent as well as conversion at the point of purchase.
+Added: Our ecosystem is expected to be leveraged for future brand content and product launches.
From an in-store perspective, we also deployed funding to enhance our presence at shelf, including shelf tags, product displays and other means to build consumer awareness and consideration.
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Our sales team is comprised of key accounts, distribution and insights professionals.
−Removed: The team works in close coordination with a national network of broker and distributor sales teams that gives us access to accounts across multiple channels throughout the U.S.
+Added: The team is bolstered by a national network of broker and distributor sales teams that gives us access to accounts across multiple channels throughout the U.S.
Delivering a product that consumers love is an integral part of what we do.
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We have refined certain formulas of our products to help appeal to and meet our consumers’ evolving taste profile and have launched line and flavor extensions within existing categories to further fulfill consumer needs.
−Removed: Our robust pipeline of new category innovations is expected to allow us to continue to thoughtfully and strategically innovate within the beverage space and maximize share of stomach by offering flavors and beverages that can drive appeal.
+Added: Our robust pipeline of new product innovations is expected to allow us to continue to thoughtfully and strategically innovate within the beverage space and maximize share of stomach by offering flavors and beverages that can drive appeal.
Our product development team is also working to improve our ingredients.
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We believe that by consistently offering great tasting products that are all zero calorie, zero sugar and naturally sweetened, with sustainable packaging under one brand, we can attract consumers to our new flavors and categories.
−Removed: Our products are produced and distributed through a network of third-party contract manufacturers, suppliers of stevia, and freight and warehouse providers that we have strategically curated.
+Added: Our products are produced and distributed through a network of third-party contract manufacturers, suppliers of raw materials, and freight and warehouse providers that we have strategically curated.
We have valuable, long-standing relationships across our supply chain, and we work closely with our external supply chain partners to try to maximize forward-looking capacity and take a thoughtful approach to how we can leverage our existing relationships with our innovation efforts.
−Removed: At the beginning of 2024, we transitioned our procurement strategy to partner with our contract manufacturers.
−Removed: This change allowed our contract manufacturers to be responsible for the procurement of raw materials to produce our products, which are then sold to us as finished goods.
−Removed: This change allowed us to leverage the purchasing power of our contract manufacturers and further diversify, as well as enable us to have the flexibility to scale the business.
−Removed: We also onboarded a global transportation management company to support optimizing freight procurement and associated freight management activities to improve our cost management.
−Removed: These changes better optimized our supply chain, helped position us for future growth, and will drive increasing returns as we scale the business.
+Added: Our contract manufacturers are responsible for the procurement of raw materials to produce our products, which are then sold to us as finished goods.
+Added: This procurement strategy allows us to leverage the purchasing power of our contract manufacturers and further diversify our supply of raw materials, as well as enable us to have the flexibility to scale the business.
+Added: We also utilize a global transportation management company to support optimizing freight procurement and associated freight management activities to improve our cost management, allowing us to better optimize our supply chain and help position us for future growth, which is expected to help drive increasing returns on investment as we seek to scale the business.
Ingredients and Ingredient Suppliers
The principal ingredients of our beverages, aside from carbonated water, are stevia sweetener, flavors, and citric acid.
−Removed: All Zevia products are solely sweetened with highly purified stevia leaf extract.
+Added: All Zevia products are solely sweetened with highly purified stevia extract.
Zevia products do not contain erythritol.
−Removed: All Zevia beverages are zero sugar and naturally sweetened with plant-based ingredients that are Non-GMO Project verified.
−Removed: Our stevia leaf extract is procured by our contract manufacturers and was previously sourced from a single large multi-national ingredient company with whom we have a long-standing relationship through a two-year agreement that was entered into October 15, 2023, which includes fixed pricing for the duration of the term.
−Removed: In 2024, we approved and began sourcing from a second multi-national ingredient company to supply stevia leaf extract in order to diversify our source of stevia leaf extract, with the aim of mitigating price and supply disruptions.
+Added: All Zevia beverages are zero sugar and naturally sweetened with ingredients that are Non-GMO Project verified.
+Added: In 2025, we diversified our stevia sourcing strategy and as a result, we have the capability to procure from three qualified entities, which we believe gives us supply continuity, diversification and price leverage for our most important ingredient.
+Added: We currently maintain contractual arrangements with two of the three qualified suppliers.
Our product development team provides ongoing sensory and cost evaluation of competing stevia extract products as well as other sweeteners as a means of planning alternate sources of supply that meet or exceed our sensory expectations.
Flavors are developed in collaboration with our product development team and our flavor ingredient suppliers.
−Removed: These suppliers produce and supply the unique flavor ingredients to our contract manufacturers, and as our contract manufacturers procure these ingredients, we do not have long-term supply agreements with these ingredient suppliers.
+Added: These suppliers supply the unique flavor ingredients directly to our contract manufacturers;
+Added: therefore, we do not have long-term supply agreements with these flavor ingredient suppliers.
Although we do not view our stevia blend or flavor ingredients as commodity ingredients, we continue to seek to diversify sourcing to help de-risk supply or cost shocks from potential supply disruptions.
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We expect to continue seeking out other potential partnerships that provide cost competitiveness, responsiveness, and geographic growth potential.
−Removed: We also multi-source package types where volumes allow to mitigate supply risk in the event of a disruption at a specific facility and to disperse production geographically to reduce freight miles driven to distribute our products.
+Added: We can produce most of our package types across our network, allowing us to mitigate supply risk in the event of a disruption at a specific facility and to disperse production geographically to reduce freight miles to our customers.
Our contracts are typically in the form of multi-year master service agreements that define overall commercial and legal terms, while volume forecasts, production costs and other services are typically re-evaluated annually or as needed.
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Our quality team places specific inventory on hold at all inventory locations if either the contract manufacturer or our quality team identifies any suspected discrepancy, to allow for immediate investigation and corrective action if necessary.
−Removed: We believe we have created a meaningful flywheel for consumer acquisition in which shoppers are able to discover, learn about and purchase our beverages online and offline across multiple channels and platforms.
−Removed: Our online platforms serve as trial generating and transaction intensification opportunities, allowing for full Zevia portfolio offerings, including our best selling variety packs, which are intended to stimulate significant consumer engagement.
−Removed: In addition to helping Zevia remain one of the top-selling carbonated soft drink brands on Amazon in 2024, our e-commerce buyers are also heavily engaged with the brand offline.
−Removed: According to Numerator almost three quarter of Zevia shoppers who purchased us online in 2024 also purchased Zevia in brick-and-mortar retailers.
−Removed: Moreover, shoppers who bought Zevia products online spent 3x more on our brand across all channels on average.
We have strong, long-standing relationships with grocery, drug, warehouse club, mass, natural, and specialty retailers with whom we can grow distribution and sales through increased store penetration and shelf space.
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We believe that our brick-and-mortar retailers value Zevia’s continued sales growth and higher margin profile, giving us confidence that we can expand our presence over time in terms of store count and number of items carried.
−Removed: For example, we recently expanded our presence at one retailer from 800 to more than 4,300 locations in the U.S.
+Added: For example, in 2024 we expanded our presence at one retailer from 800 to more than 4,300 locations in the U.S.
Beyond these channels, we believe there is significant opportunity to continue expanding distribution and total item availability in the mass, drug, warehouse club, convenience, and foodservice channels, putting Zevia at arm’s reach for consumers.
+Added: We believe we have created a meaningful flywheel for consumer acquisition in which shoppers are able to discover, learn about and purchase our beverages online and offline across multiple channels and platforms.
+Added: Our online platforms serve as trial generating and transaction intensification opportunities, allowing for full Zevia portfolio offerings, including our best-selling variety packs, which are intended to stimulate significant consumer engagement.
We believe we compete broadly with all categories of liquid refreshment beverages.
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Zevia’s passion to democratize healthier lifestyles – by providing affordable, better-for-you, naturally sweetened beverages without sugar or calories and never in plastic containers – is reflected in the organization’s people and culture.
−Removed: We offer an inclusive and challenging work environment comprised of team members who are charged with delivering high performance and representative of the communities we serve.
−Removed: Our core values – passion, respect, gratitude, learning, a positive attitude, teamwork and continuous improvement – are at the foundation of our strategies to drive our mission and business.
+Added: We offer an inclusive and challenging work environment comprised of team members who are charged with delivering high performance.
+Added: As an employee population, we aim to be representative of the communities we serve.
+Added: Our core values (namely, courageous challenger, tenacious builder, and people-centric) are at the foundation of our strategies to drive our mission and business.
We have an inclusive, strategic, and well-defined human capital planning process and a management approach that aligns to our business needs and mission, and is designed to help us attract, retain and maximize the best talent.
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Employee Health and Safety
−Removed: As a values-driven organization, the health, safety, and well-being of our team members is our top priority.
+Added: As a values-driven organization, the health, safety, and well-being of our team members is one of our top priorities.
We prioritize safety for all employees through a combination of education, training, and safety-related policies, while also maintaining compliance with applicable regulations, including Occupational Safety and Health Administration (OSHA) guidelines and mandates by local health authorities.
Specifically, we implement custom Injury and Illness Prevention Programs for our headquarters including safety training for our innovation lab, medical emergencies, power failure, bomb threat, fire safety, earthquake, and evacuation prevention practices.
−Removed: In 2024, we launched a customized Workplace Violence Prevention plan designed to address the hazards associated with various types of workplace violence.
+Added: We also launched a customized Workplace Violence Prevention plan designed to address the hazards associated with various types of workplace violence.
Company Composition:
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We define diversity considering geography, age, education level, veteran status, gender, race, disability and other characteristics.
−Removed: Our commitment is focused on promoting equal employment opportunities and performance, and starts at the top with a highly skilled representative executive leadership team and Board of Directors that is representative of our consumers.
−Removed: We promote representation across our organization as a matter of bolstering performance, via a framework that is centered on providing equal opportunities and minimizing subjectivity via data-driven decisions to reduce the risk of bias and help promote culture where everyone owns responsibility for inclusive behaviors and high performance across the organization.
+Added: Our commitment is focused on promoting equal employment opportunities and performance, and starts at the top with a highly skilled executive leadership team and Board of Directors.
+Added: We promote representation across our organization as a matter of bolstering performance via a framework that is centered on providing equal opportunities and minimizing subjectivity via data-driven decisions to reduce the risk of bias and help promote a culture where everyone owns responsibility for inclusive behaviors and high performance across the organization.
Zevia promotes equity through consistency and fairness with our people policies and practices that are designed to offer access, opportunity, and career growth for all team members equally across various stages of the employee lifecycle, including performance standards.
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Our team drives the success of our brand, and every leadership or full team engagement features a conscious effort to engage and communicate with a focus on our values and on high performance.
−Removed: Our People team manages celebrations across varied interests through the year, themes for contest, mental health resources, open surveys, team communication platforms, and training on resource access.
+Added: Our People team manages celebrations across varied interests through the year, themes for contests, mental health resources, open surveys, team communication platforms, and training on resource access.
To meet our human capital objectives, we utilize internal employee surveys to understand the effectiveness of our people programs and where we can improve across the organization.
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Talent Acquisition
−Removed: We hired 25 new team members in 2024, 87.5% of which were sourced by internal recruitment.
+Added: In 2025, 95% of new team members were sourced by internal recruitment.
We have implemented recruitment practices designed to remove bias in the selection process and we reflect our values to candidates through job description language using gender-neutral pronouns, no video calls during the first interview, and standard assessments for applicable roles.
−Removed: We find candidates through a wide variety of sources to expand the talent pool of potential candidates, we offer flexible education requirements by role, and structure interviews with consistent processes to promote equal employment opportunities and minimize bias.
+Added: We find candidates through a wide variety of sources to expand the talent pool of potential candidates, and we offer flexible education requirements by role, and structure interviews with consistent processes to promote equal employment opportunities and minimize bias.
We conduct transparent, collaborative and panel interviews for group input on all hires.
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We regularly review and survey our compensation and benefit programs against market to confirm we remain competitive in our hiring practices.
−Removed: We aim for equal pay for equal work and adapt accordingly to close any existing pay equity gaps.
+Added: We aim for equal pay for equal work and adapt accordingly to close any identified pay equity gaps.
Every full-time team member is eligible to receive equity-based compensation, which provides a sense of ownership and next-level engagement among employees at all levels.
Zevia also offers a Fortune-500 style benefits package that incorporates a robust contribution for all tiers of coverage to include:
−Removed: medical, health savings account employer contribution, dental, vision, group and voluntary life & AD&D, critical illness, hospital indemnity, accident, short-term and long-term disability insurance, flexible spending accounts, pet insurance and legal access.
+Added: medical, health savings account employer contribution, dental, vision, group and voluntary life & AD&D, critical illness, hospital indemnity, accident, short-term and long-term disability insurance, flexible spending accounts, pet insurance and access to legal services.
We offer a 401(k) Safe Harbor Retirement savings plan with Company matching contributions and no vesting schedule.
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We seek to promote from our internal talent pool as part of our enterprise-wide succession plan.
−Removed: Our internal training includes custom content by department and role, 100% participation in unconscious bias training, and management training and development.
+Added: Our internal training includes, among other things, custom content by department and role, 100% participation in unconscious bias training, and management training and development.
Performance Management
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We believe in a customized approach, where high performers are rewarded.
−Removed: Our managers also conduct 90-day reviews for new hires, mid-year reviews to formally track performance, and annual reviews for all employees, goals management throughout the year via our Human Resources Information System platform and incorporate short- and long-term career goals during each review.
+Added: Our managers also conduct 90-day reviews for new hires, mid-year reviews to formally track performance, and annual reviews for all employees.
+Added: We facilitate goals management throughout the year via our Human Resources Information System platform and incorporate short-term and long-term career goals during each review.
We also conduct regular one-on-one sessions to provide feedback, coaching and support.
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In Canada, the manufacture, distribution, marketing and sale of our products are also subject to compliance with similar laws, rules and regulations.
−Removed: We are actively monitoring trade policy and tariff announcements including the recent executive orders issued by the new U.S.
+Added: We are actively monitoring trade policy and tariff announcements including the executive orders issued by the U.S.
federal administration in February 2025 regarding new tariffs on imports from Canada, Mexico and China.
−Removed: We are currently evaluating the potential impact of the announced tariffs as well as the recent implementation of a 25% import tax on all steel and aluminum entering the U.S.
−Removed: on our business and financial condition and actions we may take to mitigate the impact.
+Added: We are continuing to evaluate the impact of the announced tariffs as well as the implementation of import tax on all steel and aluminum entering the U.S.
+Added: (25% from March to June 2025 and 50% starting in June 2025), on our business and financial condition and actions we may take to mitigate the impact.
In addition, we are monitoring the potential impact, if any, of actions taken by these countries in response to the announced tariffs.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.