04:16 PM EDT, 03/14/2024 (MT Newswires) -- Jones Soda Co. ( JSDA ) , a beverage company focused on developing, marketing and distributing consumer drink and wellness products and is in the cannabis-infused beverage category space, announced Thursday its financial results for the fourth quarter and full year ending Dec. 31, 2023.

The company reported in the Fourth Quarter 2023 Financial Summary versus a year ago that revenue was $3.5 million compared to $3.7 million.

The fourth quarter of 2023 included approximately $438,000 in revenue from the company's Mary Jones cannabis business compared to approximately $239,000 in Q4 2022.

"During the fourth quarter, we experienced headwinds in our foodservice and grocery channels from a revenue perspective and our gross margins were negatively impacted by a one-time inventory write-off, which led to less-than-ideal top-line financial results to close out the year, however, I believe we continued to make progress towards positioning Jones Soda ( JSDA ) for exciting long-term growth opportunities," said David Knight, President and CEO of Jones Soda ( JSDA ), in a statement.

For the full Year 2023 Financial Summary compared to the prior year, revenue was $16.7 million compared to $19.1 million.

Full year 2023 included approximately $1.2 million in revenue from the company's Mary Jones cannabis business compared to approximately $353,000 in 2022.

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