Soft drinks challenger Dash Water has grown revenues by more than 40% while also reducing its losses before tax.
The brand, co-founded by Alex Wright and Jack Scott in 2017, saw revenues climb by 42.1% to £17.2m in the year ended 31 December 2024, according to newly filed accounts at Companies House.
The leap in the top line was driven by “distribution wins across our sales channels and international markets, underpinned by successful product innovation and creative marketing campaigns”, Wright said.
Growth was recorded across Dash’s omnichannel sales mix, Wright noted, with grocery revenues up 58% year on year “driven by both distribution and RoS gains”. Dash grew distribution in Waitrose, Sainsbury’s and M&S last year and was now stocked in more than 10,000 UK grocery distribution points, he said.
DTC sales climbed by 40%, while international sales were up by 64% – bolstered by new listings in France, Switzerland and the Netherlands.
Losses stemmed
Dash remains loss-making, however, with operating losses in 2024 of £2.5m, down 9% from last year.
Losses before tax stood at £2.3m – down 10% on 2023 – although cumulative losses since launch now total around £10m.
“We have successfully leveraged our scale to make significant margin improvements throughout the P&L, leading to an annual reduction in losses,” Wright said. “P&L improvements have continued into 2025, where we have achieved breakeven on a run rate basis.”
Dash had “continued to invest heavily in top line growth, namely across marketing and people costs”, he added. The company employed an average of 34 people in 2024, up from 26 in 2023.
Further fundraising downplayed
To support ongoing growth, Dash has also embarked on several rounds of fundraising, including a £9m Series A round in 2023 that saw VC funds Beringea and Five Seasons invest in the business.
It has raised more than £20m to date, with high-profile angel investors including Johnny Sexton, Patrice Evra, David Milner and James Watt.
The cash raised in 2023 would see Dash “through to cashflow positive”, Wright said.
Cashflow outflows in 2024 were just £640k, “due to decreased losses and an improved working capital profile,” he added.
So far in 2025, Dash has added a new Cherry flavour SKU, unveiled new-look packaging, launched a renewed OOH push and made its television debut.
It had been a “record-breaking” summer, Wright said, with Dash selling 4.9 million cans in July 2025 alone. This generated £4.8m in sales revenue – a 74% uplift compared to July 2024.
“We’re on track to deliver £60m-plus profitable retail sales in 2026, cementing Dash as a true leader in Europe’s healthy hydration revolution,” Wright added.
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