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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® and Virgil’s™ have expanded their distribution to over 200 military commissaries across the U.S., Puerto Rico, Europe, and Asia. This includes 179 stores in the U.S. and 57 international bases, increasing access to all-natural beverage options for military families.
The offerings include Reed’s® Original and Zero Sugar Ginger Beer, Reed’s® REALLY REAL Ginger Ale™, and Virgil’s™ Zero Sugar Root Beer, among others. CEO Norman E. Snyder highlighted the growing demand for these healthier alternatives within military communities.
Reed’s Inc. (Nasdaq:REED) reported strong financial results for Q4 and FY 2020, with net sales increasing 49% to $10.7 million in Q4 and 23% to $41.6 million for the year. The gross profit surged 490% in Q4 to $3.5 million, with gross margins improving to 33%. The operating loss for Q4 narrowed to $2.7 million, while annual net loss decreased to $10.2 million or $0.17 per share. Management expects 14% to 16% revenue growth for FY 2021 amid ongoing COVID-19 uncertainties, supported by expanded distribution and operational efficiency improvements.
Reed’s Inc. announces the limited-time return of Virgil's Dr. Better soda, responding to high consumer demand. The original formula features natural ingredients like tart cherry and spicy cinnamon, now with added caffeine. CEO Norman E. Snyder emphasized the company's commitment to consumer feedback and has improved supply chain processes to meet this demand. The product will be available online in 12-can packs at $30, with an Amazon listing priced at $32.99. Reed's portfolio includes various craft sodas and ginger beers, distributed across 40,000 retail locations nationwide.
Reed's Inc. (Nasdaq: REED) will release its financial results for Q4 and the full year ending December 31, 2020, after market hours on March 30, 2021. A conference call for analysts and investors will take place at 4:30 p.m. ET the same day. Interested parties can access the call via Reed's investor website or by dialing in at (877) 425-9470 for U.S. callers. A replay will be available on the company's website for 90 days. Reed's is known for its handcrafted, all-natural beverages, including the leading Ginger Beer brand in the U.S.
Reed’s Inc. (NASDAQ: REED), America’s leading ginger company, is celebrating National Ginger Ale Day by offering 2,000 cans of its renowned REAL Ginger Ale for free on March 13. Each can contains 2,000 milligrams of fresh organic pressed ginger. Customers can redeem this offer by visiting drinkreeds.com/get-reeds. Additionally, Reed’s is hosting a sweepstakes until March 31 for a chance to win a Reed’s-branded Moke vehicle valued at over $18,000. The promotion emphasizes the unique quality of Reed’s products, made from real ginger, setting them apart in the market.
Reed's Inc. (NASDAQ: REED), a leader in ginger beverages, has partnered with Unique Foods Inc. to boost distribution across Canada. This master agreement aims to enhance market presence for Reed's Ginger Beer and Virgil's handcrafted sodas. CEO Norman E. Snyder highlighted the demand for all-natural drinks, indicating that this partnership will broaden their consumer reach. Unique Foods, with over 25 years of experience in premium beverage distribution, is well-positioned to support Reed's growth in the Canadian market.
Reed's Inc. is launching a promotional campaign, giving away a unique Moke vehicle filled with REAL GINGER ALE, valued at over $18,000. This initiative aims to engage consumers as they enter 2021, highlighting Reed's commitment to innovative, quality beverages made with real ingredients. The sweepstakes runs until March 31, 2021, and is accessible via Facebook and Instagram. Reed's ginger ale is distinguished for using 2,000 milligrams of fresh ginger, setting it apart from competitors.
Reed’s Inc. (Nasdaq: REED) announced preliminary unaudited revenue for Q4 and full year 2020, projecting Q4 net sales at approximately $10.3 million, reflecting a 44% increase year-over-year and 22% sequential growth. For the entire year, net sales are estimated at $41.3 million, a 22% rise from $33.8 million in 2019. CEO Norman E. Snyder highlighted the brand's resilience amidst pandemic challenges, indicating strong support and future opportunities.
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.
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