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Reed's Inc. (NASDAQ: REED) is a prominent maker of natural, artisanal beverages, primarily known for its iconic ginger brews. Founded in 1989, the company has established a strong market presence, offering a range of refreshing drinks that cater to health-conscious consumers. Reed's products are crafted using premium, all-natural ingredients, and are free from artificial preservatives, flavors, and gluten.
Reed's commitment to quality and innovation is evident through its continuous development of new product lines. Recent achievements include the introduction of zero-sugar options and expanding their beverage portfolio with unique flavors to meet evolving consumer demands. The company also prides itself on sustainable practices, ensuring its manufacturing processes are environmentally friendly.
Financially, Reed's has shown resilience and adaptability. Despite challenges, the company achieved its first quarter of Modified EBITDA profitability since 2016. Key financial highlights for Q2 2023 compared to Q2 2022 include an improvement in gross margins and reductions in operating expenses, leading to a notable decrease in operating loss to $0.1 million.
Reed's has fostered strategic partnerships, enhancing its distribution network and increasing market penetration. The company’s products are now available across various retail channels, including major supermarket chains, specialty stores, and online platforms.
The company's forward-looking statements reflect an optimistic outlook, with plans to further refine its product offerings and expand its market share. Investors keen on Reed's performance can stay informed through regular updates and detailed financial reports provided by the company.
Reed's, the leading producer of natural ginger beverages, has announced its participation in the upcoming Sidoti Conference, scheduled for December 4-5, 2024. The company's management team will be available for one-on-one meetings on December 4, with a virtual presentation set for 1:00 p.m. ET on the same day.
Interested parties can register to view the on-demand presentation through the Sidoti website, where they can also schedule individual meetings with Reed's team. Additional inquiries can be directed to Reed's investor relations team.
Reed's Inc. (OTCQX: REED) reported Q3 2024 financial results showing significant declines, with net sales decreasing to $6.8 million from $11.9 million in Q3 2023. The company experienced a gross profit reduction to $1.2 million from $4.0 million, with gross margin falling to 18.0% from 34.0%. Operating loss widened to $3.1 million compared to $0.1 million in the prior year. To strengthen its position, Reed's secured a new $10 million credit facility and announced the assumption of secured notes by majority stockholder D&D. Production limitations and short shipments impacted net sales by over $4 million during the quarter due to restricted working capital.
Reed's Inc. (OTCQX: REED), known for its natural ginger beverages, has scheduled its Third Quarter 2024 financial results conference call for November 14, 2024, at 8:30 a.m. ET. The company will release its financial results for the period ended September 30, 2024, prior to the call. Management will host the conference call followed by a Q&A session. The call will be accessible via toll-free and international dial-in numbers, and will also be available for replay on the company's investor relations website.
Reed's Inc. (OTCQX: REED), a leading producer of natural ginger beverages, has successfully closed a $6 million private investment in public equity (PIPE). The financing includes the conversion of $4.1 million in previously funded Simple Agreements for Future Equity (SAFEs) and $1.9 million in cash from the lead investor, D&D Source of Life Holding The purchase price was set at $1.50 per share, representing a 21% premium to the closing stock price on September 13, 2024.
CEO Norman E. Snyder, Jr. stated that this strategic investment will improve working capital, enabling the company to build inventory, increase promotional activities, and expand product authorizations. Additionally, Reed's plans to leverage D&D's market presence to expand product distribution internationally.
Reed's Inc. (OTCQX: REED) reported strong Q2 2024 results, with net sales increasing 19% to $11.9 million and gross profit rising 53% to $3.8 million. The company achieved significant gross margin expansion of 720 bps to 32.3%. Notably, Reed's reduced delivery and handling costs by 16% to $2.18 per case. The operating loss improved to $0.7 million from $1.7 million in Q2 2023, while Modified EBITDA turned positive at $45,000 compared to $(1.6) million last year. Reed's reaffirmed its FY 2024 outlook, projecting net sales growth, gross margin expansion, and Modified EBITDA profitability, along with positive cash flow from operations.
Reed's Inc. (OTCQX: REED), the leading producer of natural ginger beverages, has announced its upcoming Second Quarter 2024 Conference Call scheduled for August 13, 2024, at 5:00 p.m. ET. The company will discuss its financial results for the three months ended June 30, 2024, with a press release to be issued prior to the call.
Investors can join via toll-free dial-in at (800) 717-1738 or international dial-in at (646) 307-1865, using Conference ID: 78880. A live webcast will also be available on the company's investor relations website. Management will host the call, followed by a Q&A session. Participants are advised to dial in 5-10 minutes before the start time.
Reed's has launched Virgil's full sugar handcrafted sodas in a new 12oz can format for five classic flavors: Root Beer, Vanilla Cream, Black Cherry, Cola, and Orange Cream. This launch caters to consumer preferences for on-the-go beverages and will initially be available at Sprouts Farmers Market nationwide. The new can format aims to make Virgil's premium sodas more accessible and convenient, targeting active lifestyles. Customers can purchase these multi-pack and single serve options in-store at Sprouts or online via Virgil's website.
Reed’s (OTCQX: REED) reported its Q1 2024 financial results, highlighting significant cost optimizations despite lower net sales. Net sales decreased to $9.6 million from $11.2 million in Q1 2023.
However, gross profit rose by 26% to $3.4 million, and gross margin increased by 1,140 basis points to 35.6%. Delivery and handling costs dropped by 29%, and selling, general, and administrative expenses were reduced by 19%. Operating loss improved to $0.6 million, and modified EBITDA loss improved to $0.4 million. The company reiterated its 2024 financial outlook, projecting net sales growth, gross margin expansion, and modified EBITDA profitability, with positive cash flow from operations expected for the full year.
Reed's, Inc. will host a conference call on May 14, 2024, to discuss its financial results for Q1 2024. The call will be followed by a question-and-answer session. Investors can dial in or join via webcast.
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