Bonnie Herzog
Goldman Sachs Group, Inc., Research Division

All right. Good morning, everyone. Thanks again for joining us today. It's a pleasure to introduce our next speaker. With us today is Vita Coco's Co-Founder and Executive Chairman, Mike Kirban; as well as Chief Financial Officer, Corey Baker. Mike has served as Executive Chairman since May '22 and as Chairman of the Board since 2004. Mike also previously served as Chief Executive Officer and Co-Chief Executive Officer of the company. Corey has served as Vita Coco's CFO since 2023, where he joined following a very successful career at PepsiCo.

So Vita Coco was founded back in 2004, and they are the market leader in the attractive and fast-growing coconut water category. They have a full pipeline of products that fuse functional benefits with authentic and better-for-you ingredients and just recently posted a very strong Q1 beat and raise, which helped drive the stock over 25% higher. So thank you both for joining today.

Michael Kirban
Co-Founder, Executive Chairman & President

Thanks for having us.

Bonnie Herzog
Goldman Sachs Group, Inc., Research Division

Yes, I still can't get over the Q1 results. But let's maybe start with the health of the consumer recently. From your vantage point, I imagine your consumer remains pretty healthy as evidenced again by the strong top line growth in the quarter. But maybe talk through for us why does the coconut water consumer seem to be so strong? And does it ultimately skew higher income?