Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Make-your-own-pop company SodaStream (NYSE: SODA) did just that this morning. Reporting a 99% rise in unit sales in the first quarter, the company created a 12% pop in its own stock price.

So what: Fellow Fool Rick Munarriz calls SodaStream's quarter a "blowout." Revenues were up 50%, profits a good 38%, and management is raising guidance for the rest of the year.

Now what: Now, some might say that even numbers as good as these can't justify SodaStream's lofty 60 P/E ratio. Other Fools will point out that the situation's even worse than it looks, with SodaStream burning cash last year, and still free cash flow-negative in its most recent quarter.

While that's true ... it may not be so for long. A review of the company's cash flow statement shows that SodaStream was only $4 million free cash flow-negative in Q1 2011 (versus $5.4 million in negative FCF in Q1 2010.) While burning cash is rarely a good thing, the fact that SodaStream burned 26% less cash in Q1 2011 than it did a year ago is good news indeed.

Want to learn more about SodaStream? Add it to your Watchlist.