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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 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.
Reed’s Inc. (Nasdaq: REED) has announced the upcoming release of its financial results for the second quarter ended June 30, 2020, scheduled for August 10, 2020, after market close. The company's senior management will conduct a conference call at 4:30 p.m. ET to discuss the results with analysts and investors. Reed's has established itself as the leader in the ginger beer market and is recognized for its unique handcrafted products, available in over 35,000 retail locations across the U.S.
Reed's Inc. (NASDAQ: REED) has launched its popular non-alcoholic butterscotch cream soda, Flying Cauldron, on Amazon, enhancing accessibility for consumers. This unique beverage combines butterscotch and vanilla flavors, crafted with natural ingredients and free from artificial additives. To celebrate, Reed's is offering a 10% discount on orders until July 31, 2020. The company is also conducting a sweepstakes for fans to win cases of Flying Cauldron and sweet treats, further engaging with its customer base.
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