Splash Beverage Group, Inc. (SBEV): History, Ownership, Mission, How It Works & Makes Money

Given the volatility in the consumer staples sector, how do you assess a micro-cap beverage company like Splash Beverage Group, Inc. (SBEV) that is simultaneously reporting a trailing twelve-month revenue of just over $1.02 million but has recently executed a $12.7 million debt-for-equity exchange to stabilize its balance sheet? You're looking at a portfolio company-brands like Copa Di Vino and Chispo Tequila-that is in a high-stakes, fundamental transition, underscored by a Q3 2025 net loss of $9.9 million and a market capitalization recently dipping to $1.97 million. We need to cut through the noise of the stock's -88.02% year-to-date decline and see if their strategic pivot-including a new, $6 million annual water contract and expansion into THC beverages-is defintely a lifeline or just a distraction from core operational hurdles.

Splash Beverage Group, Inc. (SBEV) History

You're looking for the origin story of Splash Beverage Group, Inc., and the truth is, it's a classic beverage industry play: a portfolio strategy built by a veteran, but one that's currently facing an acute liquidity crisis. The company's trajectory is a clear map of aggressive brand acquisition and strategic pivots, culminating in a volatile 2025 that demands a hard look at its balance sheet.

Given Company's Founding Timeline

Year established

The company was formally established in 2012, though its conceptual development began earlier, driven by the vision for a portfolio of health-conscious and innovative alcoholic and non-alcoholic beverages.

Original location

Splash Beverage Group, Inc. is headquartered in Fort Lauderdale, Florida, a strategic location for beverage distribution and market access in the US.

Founding team members

The key driving force and founder of the concept was Robert Nistico, who currently serves as the Chairman and CEO. Nistico brought decades of experience, including being the fifth employee and an SVP/General Manager at Red Bull North America, where he helped scale the startup to over $1 billion in annual sales. While a specific initial team roster isn't public, his industry pedigree was the initial capital.

Initial capital/funding

Specific initial capital at the 2012 founding isn't disclosed, but the company has since raised a total funding of $3.34 million across eight rounds. [cite: 5 in previous step] The first major capital injection was a $3.15 million Series A funding round completed in December 2015. [cite: 5 in previous step]

Given Company's Evolution Milestones

Given Company's Transformative Moments

The most transformative period for Splash Beverage Group, Inc. has defintely been the first three quarters of 2025, which saw the company pivot from a traditional beverage distribution model to a speculative asset-holding strategy while battling an existential liquidity crisis.

Here's the quick math on the financial stress: The company's trailing twelve-month revenue ending June 30, 2025, was only $2.01 million, while the corresponding net loss was a staggering -$25.90 million. [cite: 11 in previous step, 9 in previous step] This massive gap forced a critical change in direction.

The company's strategic pivot involved two major, non-operational transactions post-Q1 2025:

• Debt-to-Equity Swap: The conversion of approximately $12.7 million in debt into preferred equity, which helped regain compliance with NYSE listing standards. [cite: 7 in previous step] This was a necessary move to survive, but it significantly diluted potential equity value.
• Strategic Water Rights Acquisition: The company issued $20 million of preferred shares to acquire contractual and governmental water rights in Costa Rica, associated with a volcanic aquifer. [cite: 7 in previous step] This move is a high-risk, high-reward pivot, shifting focus from current beverage sales to developing a long-term water asset.

This aggressive pivot is set against a backdrop of extreme capital shortage; as of September 30, 2025, the company held only $266,000 in cash, far below the estimated $2 million needed to restart minimal operations. [cite: 6 in previous step] The recent resignations of both the CEO and CFO in November 2025 compound the execution risk on this new strategy. For a deeper dive into the capital structure, you should be Exploring Splash Beverage Group, Inc. (SBEV) Investor Profile: Who's Buying and Why?

Splash Beverage Group, Inc. (SBEV) Ownership Structure

Splash Beverage Group, Inc. (SBEV) is a publicly traded micro-cap company, listed on the NYSE American, but its ownership is highly concentrated among insiders and subject to significant volatility due to a small public float.

The company is currently navigating an existential liquidity crisis, evidenced by a reported $0 revenue in Q3 2025 and a cash balance of just $265,667 as of the latest balance sheet data, which is a critical point for any investor to consider.

Given Company's Current Status

Splash Beverage Group, Inc. is a publicly traded entity on the NYSE American under the ticker SBEV. Its market capitalization sits at a micro-cap level, valued at approximately $3.01 million as of November 2025.

The company is undergoing a radical strategic pivot, shifting focus beyond traditional beverages toward high-growth categories like THC beverages and the monetization of Costa Rican Water Rights, which is a major, high-risk move.

This pivot comes amid severe financial stress, including a trailing twelve-month (LTM) revenue of only $1.02 million and a net loss of -$31.07 million LTM, emphasizing the high-stakes nature of its current strategy.

Given Company's Ownership Breakdown

The ownership structure is typical of a small-cap stock, with a large portion of shares held by insiders and the vast majority in the hands of the retail public, which can lead to extreme price swings. The total shares outstanding are approximately 2.55 million.

A significant portion of the public float, 21.4% as of October 31, 2025, was held in short positions, which suggests a strong bearish sentiment among professional traders.

To understand the full financial context of this ownership, you should check out Breaking Down Splash Beverage Group, Inc. (SBEV) Financial Health: Key Insights for Investors.

Given Company's Leadership

The company is currently operating under a significant leadership void following the simultaneous resignation of its two most senior executives in November 2025. The board is actively searching for a new Chief Executive Officer.

• Chairman of the Board: Bill Caple. Appointed in November 2025, succeeding Robert Nistico. He brings deep experience in strategic and financial leadership, including guiding global transactions.
• Chief Executive Officer (CEO): Position is currently vacant, as Robert Nistico resigned, effective November 14, 2025.
• Chief Financial Officer (CFO): Position is currently vacant, as William Devereux resigned, effective November 30, 2025.
• President and Chief Marketing Officer (CMO): William Meissner. He is taking on additional responsibilities during the transition and is the driving force behind the new Chispo Tequila launch across six key US states.

The simultaneous executive departures create a high degree of execution risk, especially as the company attempts to execute a defintely challenging strategic turnaround. The board and President Meissner are now the primary drivers of near-term strategy and operations.

Splash Beverage Group, Inc. (SBEV) Mission and Values

Splash Beverage Group, Inc. (SBEV) centers its purpose on building a diverse, high-growth beverage portfolio through strategic acquisition and distribution, aiming to deliver natural, innovative products to consumers. This mission is currently tested by significant financial hurdles, as evidenced by a $0 net revenue report for the third quarter of 2025 due to a temporary operational halt.

Given Company's Core Purpose

You're looking at a company that wants to be a major player in the beverage space, but their actions are what define their real-world mission, especially when the balance sheet is stressed. Their core purpose is to be a platform that acquires and grows innovative beverage brands, but honestly, it's about survival and securing capital right now. The nine-month net loss widened to over $22,029,577 as of September 30, 2025, so the focus is clearly on the going concern. Here's the quick math: they need $2 million just to get minimal operations started again, but only had $266,000 in cash as of that same date.

Official mission statement

While Splash Beverage Group doesn't have one single, explicit official mission statement readily available, their activities and stated goals point to a clear strategic direction. They operate as an incubator and accelerator for emerging brands like Copa Di Vino and SALT Tequila, focusing on superior production and supply chain efficiency. This is a portfolio strategy, designed to dilute risk and drive value for shareholders through eventual cash events, which is a smart, if high-risk, play in a fragmented market.

Their inferred mission is to:

• Develop and acquire beverage brands with broad consumer appeal.
• Create efficient distribution networks for maximum market penetration.
• Focus on innovation to stay ahead of market trends.
• Build a sustainable model for long-term stakeholder benefit.

Vision statement

The company's vision is ambitious: to become a leading, diversified beverage company. This means establishing a robust distribution network and driving product innovation to meet changing consumer preferences. What this estimate hides, though, is the immense capital required to achieve that scale, especially with an accumulated deficit of roughly $178.3 million as of September 30, 2025. Still, they are pivoting, like with the acquisition of $20 million in Costa Rican Water Rights, an indefinite-lived intangible asset, which shows a long-term vision beyond their current product line. For a deeper dive into the immediate financial picture, you should check out Breaking Down Splash Beverage Group, Inc. (SBEV) Financial Health: Key Insights for Investors.

The core principles guiding this vision include:

• Quality: Deliver natural quality, freshness, and health benefits.
• Innovation: Create differentiable advantages via forward-looking ingredients or packaging.
• Sustainability: Commit to sustainable sourcing and packaging, like the eco-friendly cartons for Pulpoloco Sangria.
• Brand: Seek out brands with high pre-existing brand awareness.

Given Company slogan/tagline

Splash Beverage Group does not defintely appear to have a single, official, widely-used slogan or tagline. Their focus is on the individual brand identities within their portfolio, such as TapouT Performance being the official training partner of the WWE, rather than a single corporate catchphrase. The emphasis is on the product's story, not the holding company's motto.

Splash Beverage Group, Inc. (SBEV) How It Works

Splash Beverage Group operates as a brand accelerator, acquiring and developing a diverse portfolio of alcoholic and non-alcoholic beverages to capture market share in high-growth categories. They create value by focusing on brand building, securing anchor distribution partners, and leveraging an asset-light operational model for production, essentially acting as a fast-moving platform for emerging drinks.

Splash Beverage Group's Product/Service Portfolio

Splash Beverage Group's Operational Framework

The company's operational framework is built on an outsourced, brand-focused model, which keeps overhead low while maximizing market reach. This is a smart approach for a micro-cap company, so they can pivot quickly.

• Asset-Light Production: Splash Beverage Group uses contract-packing partners for manufacturing, avoiding the massive capital expenditure of owning and operating bottling or distillation facilities.
• Targeted Distribution: They secure statewide distribution agreements, like the one in Colorado, to ensure full coverage and market penetration for their portfolio brands. This network is crucial for moving product.
• Strategic Brand Development: The team focuses on developing early-stage brands, such as the internal launch of Chispo Tequila, and positioning them with anchor customers, like the high-volume restaurant chain adopting Chispo in six states.
• Financial Restructuring: A major part of 2025 operations involved balance sheet transformation, including exchanging approximately $12.7 million of debt for preferred equity to improve the financial foundation.

For the nine months ending September 30, 2025, the company reported sales of only $0.438272 million, reflecting a challenging transition period, but the strategic focus is clearly on future high-margin growth. You can get a deeper look at the recent performance here: Breaking Down Splash Beverage Group, Inc. (SBEV) Financial Health: Key Insights for Investors

Splash Beverage Group's Strategic Advantages

The company's advantages stem from its portfolio diversity and its recent, aggressive moves into new, high-potential markets, which is defintely a high-risk, high-reward strategy.

• Diverse Portfolio Across Categories: Owning brands in wine, spirits (tequila), and hydration/recovery drinks helps mitigate risk from a downturn in any single beverage segment.
• Proprietary Water Asset: The acquisition of contractual and governmental water rights to a volcanic aquifer in Costa Rica is a long-term strategic asset, providing a source of high-purity, alkaline water for future product lines.
• First-Mover Advantage in Emerging Markets: Actively exploring the THC beverage category, anticipating significant market demand due to a slated ban in one year, which creates a near-term window of opportunity.
• Experienced Management: The team, despite recent leadership changes, is composed of veterans who have built and managed top brands in the beverage industry, giving them the playbook to scale smaller brands.
• Focus on Acquisition and Acceleration: The explicit strategy to secure an anchor acquisition is designed to enhance growth and accelerate the path toward profitability, especially given the net loss of $9.89 million in Q3 2025.

Splash Beverage Group, Inc. (SBEV) How It Makes Money

Splash Beverage Group, Inc. makes money primarily through the wholesale distribution and sale of its portfolio of proprietary and acquired beverage brands, which include spirits, wine, and non-alcoholic drinks, but this model has been severely disrupted in 2025 due to a critical lack of working capital.

Splash Beverage Group's Revenue Breakdown

To be defintely clear, the company reported $0 in net revenues for the third quarter of 2025 (Q3 2025) after temporarily suspending most commercial operations in February 2025 due to insufficient capital to acquire inventory. However, looking at the nine-month revenue for 2025, which totaled $438,272, we can see the composition of the small amount of sales that did occur before the halt. This breakdown shows how the business historically generated sales.

The 'Main Composition' stream historically covers sales of brands like TapouT performance drinks, Salt Tequila, Copa Di Vino single-serve wine, and Pulpoloco Sangria through national and regional distributors. The E-commerce/Resale stream, which previously included the Qplash business, has also collapsed with the operational pause. This is a business model in stasis, not growth.

Business Economics

The economic fundamentals of Splash Beverage Group as of November 2025 are defined by a severe liquidity crisis, not by product-market fit or margin expansion. The entire financial engine is stalled.

• Pricing Strategy: The company's strategy focuses on premium and niche categories-like Tequila and single-serve wine-which typically support higher gross margins than commodity beverages, but the current $0 revenue makes this theoretical.
• Cost of Goods Sold (COGS) vs. Revenue: With operations suspended, the major economic issue is the inability to fund the COGS (inventory purchase) needed to generate revenue in the first place.
• New Asset Pivot: A significant economic shift is the acquisition of $20 million in Costa Rican Water Rights, a non-cash, indefinite-lived intangible asset. This pivot aims to monetize a new, high-volume water extraction business, but it requires approximately $22 million in capital expenditure for a bottling facility.
• Future Revenue Anchor: Management is banking on a multi-year anchor customer purchase order for the Costa Rican water business, valued at approximately $6 million annually, with deliveries expected to start as early as Q1 2026. This is the clearest near-term revenue opportunity, but it is still contingent on securing the necessary construction funding.

You can learn more about the strategic direction here: Mission Statement, Vision, & Core Values of Splash Beverage Group, Inc. (SBEV).

Splash Beverage Group's Financial Performance

The company's financial health is in a precarious state, making the usual metrics less about performance and more about survival. The key takeaway is the substantial doubt about the company's ability to continue as a going concern, a risk explicitly noted in their financial statements.

• Total Revenue (Trailing Twelve Months ending September 30, 2025): Revenue was $1.02 million, representing a sharp decline of -83.63% year-over-year.
• Net Loss (Nine Months Ended September 30, 2025): The net loss widened significantly to $22.03 million, up from $14.72 million in the prior-year period.
• Liquidity Crisis: As of September 30, 2025, the company's cash and cash equivalents were only about $266,000, far short of the estimated $2 million needed to resume minimal operations.
• Current Ratio: The current ratio is extremely low at 0.13, indicating the company has only 13 cents of current assets for every dollar of current liabilities, a classic sign of severe short-term liquidity stress.
• Debt Structure: The company's Debt-to-Equity ratio is 0.95, which, while not excessively high on paper, is coupled with multiple loans already in default and a reliance on expensive, short-term convertible financing.

Here's the quick math: $266,000 in cash against a $2 million need to restart operations is a massive funding gap. This is an all-hands-on-deck situation focused on capital raising, not organic growth.

Splash Beverage Group, Inc. (SBEV) Market Position & Future Outlook

Splash Beverage Group, Inc. is currently navigating an existential liquidity crisis, evidenced by a temporary suspension of operations in 2025, but is simultaneously attempting a high-risk pivot toward high-growth categories like premium tequila and water assets. The company's future hinges entirely on its ability to secure the necessary capital to restart sales and execute on strategic initiatives like its new Costa Rican water venture, which is a huge gamble right now. Breaking Down Splash Beverage Group, Inc. (SBEV) Financial Health: Key Insights for Investors

Competitive Landscape

Honestly, Splash Beverage Group, Inc. is a micro-cap player in a market dominated by multinational giants. The company's current financial situation-with $0 in net revenue for the third quarter of 2025-means its market share is functionally zero, despite its portfolio of brands like Pulpoloco Sangria and the planned Chispo Tequila launch. You are essentially betting on a startup brand portfolio competing against the world's most entrenched players.

Opportunities & Challenges

The company is trying to pivot away from its previous financial distress by focusing on a few key, high-margin opportunities, but these are all capital-intensive. Here's the quick math: they need $2 million just to restart minimal operations, but only had $266,000 in cash as of September 30, 2025.

Industry Position

The company's industry position is precarious, defintely at an inflection point. On paper, Splash Beverage Group, Inc. is positioned in the fastest-growing beverage segments-premium tequila, ready-to-drink (RTD) cocktails, and functional water-which are all outpacing traditional soft drinks and mass-market beer. Still, the reality is a significant 'going concern' risk, which is a formal term for substantial doubt about its ability to continue operating without significant new funding.

• Focus on Premiumization: The new Chispo Tequila brand targets the premium segment, which is the key value driver in the spirits industry.
• Category Agility: Rapidly entering the THC-infused beverage space, capitalizing on evolving federal regulatory developments and high near-term consumer demand before a potential ban.
• Disparity in Valuation: Analysts forecast a massive revenue jump to nearly $30 million for the full year 2025, but the company's actual nine-month revenue is only $438,272. This gap highlights the extreme reliance on a successful, near-immediate capital raise and a massive acquisition.

The market is betting on the potential of the water contract and the new brands, but the current financial statements show a company struggling to fund inventory, let alone execute a multi-million-dollar infrastructure project. The next step for you is to monitor their capital raise announcements very closely; without that, the strategic pivot is just a plan.