04:59 PM EDT, 08/13/2024 (MT Newswires) -- Jones Soda ( JSDA ) on Tuesday said its second-quarter loss widened despite higher revenue.

The company said it lost US$1.6 million, or $0.02 per share, compared to a year-prior loss of US$1 million, or $0.01.

Revenue increased to US$7.2 million compared to US$4.8 million in 2023.

"I'm pleased to report another consecutive quarter of exceptional revenue growth of 49% compared to the same quarter last year and healthy gross margin expansion of 340 basis points," said chief executive David Knight. "We have been investing heavily into research and development, retail engagement, and marketing efforts to continue supporting our product expansion initiatives."

Adjusted EBITDA was US$1.1 million compared to US$700,000 in 2023.