Welcome to our dedicated page for Reeds news (Ticker: REED), a resource for investors and traders seeking the latest updates and insights on Reeds stock.
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 Inc. (Nasdaq: REED) has successfully closed its public offering of 21,562,500 shares at $0.56 each, generating approximately $12.1 million in gross proceeds. The offering saw participation from Reed's Board and management, investing around $625,000. The funds will be used primarily to pay down $4.6 million of senior credit and $4.25 million of the Raptor Note, with the remainder allocated for working capital and corporate purposes. The CEO expressed confidence in the company's growth trajectory, stating the offering bolsters the balance sheet for future opportunities.
Reed’s Inc. (Nasdaq: REED) has announced a public offering of 18.75 million shares at $0.56 per share, aiming for gross proceeds of approximately $10.5 million. The offering includes an additional option for underwriters to purchase 2.81 million shares. The funds will be used to repay $4.6 million under a senior credit facility and $4.25 million for a secured convertible note, with remaining proceeds allocated for working capital and general corporate purposes. The offering is expected to close on November 24, 2020, pending customary conditions.
Reed’s Inc. (NASDAQ: REED) announced an underwritten public offering of common stock, with a 45-day option for underwriters to purchase additional shares. The offering's completion and terms are uncertain. Proceeds will be used to repay approximately $4.6 million under its senior credit facility and $4.0 million under the Subordinated, Convertible, Non-Redeemable Secured Note, with remaining funds allocated for working capital. Roth Capital Partners acts as the sole book-running manager. A shelf registration statement for the shares has been filed with the SEC.
Reed’s Inc. (NASDAQ: REED) announced its financial guidance for fiscal 2021, projecting net sales of $45.8 million to $46.6 million with a gross margin of 32% to 33%. This is an increase from the updated 2020 guidance of approximately $40.1 million to $40.3 million in net sales and a gross margin of about 30%. Recent retail data highlighted a remarkable 49.4% increase in sales for the Reed’s brand and 27.5% for Virgil’s in the four weeks ending October 4, 2020. Year-to-date growth stands at 33.2% for Reed’s and 23.0% for Virgil’s.
Reed’s Inc. (NASDAQ: REED) is the presenting sponsor of the inaugural World's Best Turkey Trot, a virtual running event taking place from November 25-28, 2020. Participants can engage in a 1M, 5K, or 10K race from anywhere, submitting their tracked results online. A portion of the proceeds will support the World Food Program USA. Each runner will receive a race kit that includes a finisher medal and t-shirt. Additionally, Reed’s is hosting a sweepstakes offering prizes to participants. The initiative aims to bring families together while promoting health and wellness during the holiday season.
Reed’s Inc. (NASDAQ: REED) announces its sponsorship of the inaugural World's Best Turkey Trot, a virtual race happening from November 25-28, 2020. The event includes 1M, 5K, and 10K options, encouraging families to participate from anywhere. Proceeds will support the World Food Program USA through Charity Miles. Participants will receive a race kit and have the chance to win additional prizes. The initiative aims to create a new Thanksgiving tradition while promoting wellness through Reed’s ginger products.
Reed’s Inc. (Nasdaq:REED) reported a 21% increase in net sales for Q3 2020, reaching $10.6 million, up from $8.7 million in Q3 2019. Gross profit rose 35% to $3.4 million, with gross margin improving to 32%. The operating loss narrowed to $2.3 million, and net loss decreased to $2.6 million, or $0.04 per share. The company increased its fiscal 2020 net sales guidance from 10% to 19%. Strong volume growth, particularly in the Reed’s brand, and successful product innovations contributed to these results. However, uncertainties related to COVID-19 persist.
Reed's Inc. (Nasdaq: REED) will announce its third quarter financial results for the period ending September 30, 2020, after market close on November 9, 2020. A conference call for analysts and investors will follow at 4:30 PM ET, accessible via Reed's investor website. Reed's is known for its leading range of handcrafted, all-natural beverages, including the top-selling Ginger Beer brand in America. The call will also be available for replay on the company’s website for approximately 90 days.
Reed's Inc. (NASDAQ: REED) has launched the limited-edition “Ginger All the Way Box”, perfect for the holiday season. This box features a selection of popular products that include:
- Real Ginger Ale (Original & Zero Sugar)
- Wellness Ginger Shots (Daily Ginger & Ginger Energize)
- Craft Ginger Candy Chews
The holiday box retails at $19.99 and is designed to deliver fresh ginger goodness to consumers across the nation, reflecting the brand’s commitment to wellness and flavor.
Reed's Inc. (NASDAQ: REED) announces the return of the limited-edition Bavarian Nutmeg Swing-lid Root Beer, just in time for festive celebrations. This handcrafted soda features an authentic Bavarian recipe dating back to 1963, using quality ingredients like honey and licorice. Priced at $15.99 for three pints online and $3.99 - $4.99 for individual pints in select retailers, it appeals to consumers looking for a unique seasonal experience. As part of its promotion, the company is holding a sweepstakes for an Oktoberfest prize package, enhancing engagement with its fan base.
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