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Reeds, Inc. (REED) delivers natural consumer products through disciplined financial management and operational excellence. This news hub provides investors with essential updates on corporate developments, financial reporting, and strategic initiatives.
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Reed's Inc. (OTCQX: REED), a natural ginger beverage company, reported Q4 2024 financial results with net sales of $9.7M, down from $11.7M in Q4 2023. Despite lower sales, gross profit increased significantly to $2.9M (30% margin) compared to $0.5M (4% margin) in Q4 2023.
For full-year 2024, net sales were $37.9M versus $44.7M in 2023, while gross profit rose 18% to $11.4M. The company improved its financial position by closing a $10M private placement and restructuring convertible debt. Operating loss improved to $7.4M from $9.4M in 2023.
Notable achievements include expanded retail distribution across major chains like Kroger and Costco, new executive appointments, and plans to launch a multi-functional beverage line in April with 8,000 secured distribution points. The company ended 2024 with $10.4M in cash and $9.6M in total debt, compared to $0.6M cash and $27.4M debt at the end of 2023.
Reed's Inc. (OTCQX: REED), the leading natural ginger beverages portfolio owner, has announced its upcoming Fourth Quarter and Full Year 2024 financial results conference call. The event is scheduled for Wednesday, March 26, 2025, at 8:30 a.m. Eastern time.
The company will release its financial performance report for the three and twelve months ended December 31, 2024, prior to the call. Investors can participate through:
- Toll-free number: (800) 717-1738
- International dial-in: (646) 307-1865
- Conference ID: 31278
Participants are advised to dial in 5-10 minutes before the start time. The call will include a management presentation followed by a Q&A session. A live webcast and replay will be available on the investor relations section at investor.reedsinc.com.
Reed's Inc. (OTCQX: REED) announced key leadership changes effective February 10, 2025. Douglas McCurdy has been appointed as Chief Financial Officer (CFO), replacing Joann Tinnelly, who will transition to Chief Accounting Officer (CAO). Additionally, Salvatore Vassallo joins as Vice President of Operations.
McCurdy brings decades of finance and operational experience, having served as CFO and COO for multiple early-stage growth companies including REZI, Torrential, and BBE. He previously held positions at Banc of America Securities and served as a Lieutenant in the US Navy. Vassallo, joining from Boylan Bottling Co., brings extensive experience in supply chain optimization and inventory management, with previous roles at Ferrero, Snapple Beverages, and Henkel.
CEO Norman E. Snyder expressed confidence that these leadership changes, combined with the company's strengthened balance sheet, will support Reed's growth and profitability objectives for 2025.
Reed's Inc. (OTCQX: REED), a leading natural ginger beverages company, has announced the closing of a $10 million private placement investment (PIPE) on December 30, 2024. The company sold approximately 14.7 million shares of common stock at $0.68 per share, representing a premium to the closing stock price.
The capital raised will be allocated to strategic initiatives including personnel and marketing investments, potential M&A opportunities, strategic partnerships, and international expansion. CEO Norman E. Snyder, Jr. stated that this financing supports their growth strategy and aims to create long-term shareholder value, with a goal of achieving sustainable growth and profitability in 2025.
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.
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