Reeds - REED STOCK NEWS

Reed’s Inc. (NASDAQ: REED) has announced that its REAL Cranberry Ginger Ale will be available exclusively in 166 Costco locations across 26 states for the 2022 holiday season. Following a strong consumer response to its launch last year, the company is expanding distribution to meet growing demand. The beverage is made from natural ingredients, is Non-GMO Project Verified, and contains no artificial preservatives. CEO Norman E. Snyder highlighted the enthusiasm from ginger ale fans for this seasonal flavor.

Reed's, Inc. (NASDAQ: REED) announced on October 3, 2022, that the Nasdaq Hearings Panel granted an extension for continued listing until February 13, 2023. This decision, made on September 28, 2022, comes as the company must satisfy specific interim milestones and meet compliance criteria, including a $1.00 bid price and $2.5 million stockholders’ equity. Reed’s is implementing a detailed operational plan focused on growth in its beverage portfolios and cost-saving initiatives to regain compliance. Failure to meet the extension's terms may lead to delisting.

Reed's (NASDAQ: REED) has announced the launch of its new Harvest Spiced Apple Cider, which will be available in approximately 380 Sprouts Farmers Market locations. This product is designed to complement the existing offerings at Sprouts, including Butterscotch Cream Soda and Bavarian Nutmeg Root Beer. The cider features a blend of pumpkin, ginger, nutmeg, and apple cider, catering to festive fall occasions. The collaboration reflects Reed's commitment to providing unique and premium natural beverages while reinforcing its partnership with Sprouts.

Reed's, Inc. announced a 22% increase in net revenue for Q2 2022, totaling $13.7 million, driven by strong demand for its ginger beverage portfolio. However, gross profit remained flat at $3.3 million, with a decline in gross margin to 24% from 29% due to inflation and supply chain issues. Operating losses widened to $(4.5) million, and cash used in operations rose to $14.1 million. Despite challenges, Reed's expects to achieve 2022 net sales between $59-62 million, indicating a growth estimate of 20-25%.

Reed's, Inc. (NASDAQ: REED) has launched the Reed’s® Zero Sugar Stormy Mule on the West Coast, expanding its ready-to-drink (RTD) alcoholic beverage line. This keto-friendly drink is naturally brewed with real ginger and natural rum flavor, boasting 7% alcohol and no added sugars, artificial colors, gluten, GMOs, or caffeine. The product, retailing at $11.99-$14.99 for a 4-pack, follows the successful Zero Sugar Classic Mule launched in 2020. Reed's aims for broader distribution throughout the year, aligning with consumer trends favoring healthier, low-sugar options.

Reed’s, Inc. has announced the launch of Reed’s® Hard Ginger Ale, a new addition to its portfolio of all-natural ginger beverages. This product, which will be available in stores during Q3 and Q4 of 2022, features 5% ABV with only 100 calories per can. Offered in four flavors—Mango, Pineapple Coconut, Cherry Lime, and Watermelon Strawberry—it is keto-friendly and made with real ginger. The company anticipates growth in the ready-to-drink alcohol category, responding to consumer interest in using ginger ale as a cocktail mixer.

Reed's, Inc. (NASDAQ: REED) has partnered with Cracker Barrel to distribute its premium crafted beverages nationwide. Cracker Barrel will now carry Virgil’s Bavarian Nutmeg Root Beer and Flying Cauldron Butterscotch Beer in all 630 retail locations. This expansion follows the initial limited-edition launch of Virgil's Root Beer, now available full-time. Both beverages feature unique swing-lid bottles for easy consumption. Reed’s aims to enhance its presence in the market, leveraging Cracker Barrel's unique retail environment to reach more consumers during the festive season.

Reed's, Inc. (NASDAQ: REED), a leader in handcrafted, all-natural ginger beverages, will hold a conference call on August 11, 2022, at 5:00 p.m. ET to discuss its Q2 2022 financial results. An accompanying press release will precede the call. Interested participants can dial in or access the live webcast available on their investor relations website. Reed's operates with well-known brands including Reed’s®, Virgil’s®, and Flying Cauldron® and is recognized for its high-quality beverages sold in over 45,000 stores across the U.S.

Reed’s, Inc. (NASDAQ: REED) has appointed Thomas Kosler to its board of directors as of July 1, 2022, replacing Rhonda Kallman. Kosler brings over 40 years of finance experience, including leadership roles at Ernst & Young LLP and his own firm, Kosler & Co. He will also chair the Audit Committee. Reed’s Chairman John Bello praised Kosler’s expertise, particularly in audit and compliance. Kosler expressed enthusiasm for Reed's growth initiatives, specifically mentioning new products like Reed’s Ginger Ale and Hard Ginger Ale, indicating a focus on capitalizing on high-quality, all-natural beverages.