Shares of The Vita Coco Company, Inc. (NASDAQ: COCO) soared 6.97% in pre-market trading on Wednesday following the release of its impressive first-quarter 2025 financial results and an expansion of its share repurchase program.

The coconut water giant reported Q1 sales of $131 million, surpassing analysts' expectations of $125.5 million. The company's earnings per share of $0.31 significantly beat the consensus estimate of $0.20, marking a 29.17% increase from the same period last year. Vita Coco's adjusted EBITDA reached $23 million, well above the $16.8 million forecast by analysts.

Adding to investor enthusiasm, Vita Coco reaffirmed its full-year 2025 guidance and announced that its Board of Directors had approved an additional $25 million for its share repurchase program, increasing the total authorization to $65 million. This move signals management's confidence in the company's future prospects and commitment to enhancing shareholder value. The strong quarterly performance, coupled with the expanded buyback program, appears to be driving the pre-market rally in Vita Coco's stock.