Reed’s, Inc. filings document the regulatory record for a Delaware branded beverage company whose common stock trades on NYSE American. Recent disclosures cover annual meeting and proxy matters, stockholder proposal and director nomination procedures, board and officer changes, executive compensation arrangements, and amendments to bylaws following the exchange listing.
Form 8-K reports also furnish operating and financial results and describe material corporate events such as leadership transitions and governance updates. Proxy materials address stockholder voting mechanics, director-election matters and corporate governance provisions for the company’s public-company structure.
Reed’s, Inc. reported a much weaker first quarter of 2026. Net sales fell to $7,142 thousand from $10,029 thousand a year earlier, a 29% decline driven by lower volumes and heavier promotional discounts. Gross margin shrank to 10% of net sales from 34%, hurt by $738 thousand of inventory write-offs tied to product portfolio changes and higher cost per case.
Operating expenses rose to $6,912 thousand, up 34%, with general and administrative costs more than doubling to support an Asia-Pacific growth initiative. The company’s net loss widened to $6,464 thousand, or $0.55 per share, versus a loss of $2,031 thousand, or $0.27 per share. EBITDA was a loss of $6,218 thousand.
Cash decreased to $4,580 thousand as of March 31, 2026, from $10,424 thousand at year-end 2025, mainly due to operating losses and working capital needs. Reed’s has a fully drawn senior secured loan of $9,250 thousand and no remaining availability, but management believes existing cash, operations, and committed financing can fund the approved operating plan for at least twelve months.
Reed’s, Inc. reported significantly weaker first-quarter 2026 results, with net sales of $7.1 million versus $10.0 million a year earlier. Gross profit fell to $0.7 million and gross margin compressed to 10% from 34%, reflecting discontinued and slow-moving inventory write-offs and higher costs.
Operating expenses rose sharply, as selling, general and administrative costs increased to $5.8 million from $3.5 million, contributing to a wider net loss of $6.5 million or $(0.55) per share, compared with a net loss of $2.0 million or $(0.27) per share. EBITDA was $(6.2) million versus $(1.7) million in the prior-year quarter.
Cash used in operations was $5.8 million, leaving cash at $4.6 million as of March 31, 2026, down from $10.4 million at year-end, while total debt remained about $9.2 million. Management detailed numerous corrective actions, including portfolio rationalization, cost reductions, expanded sales partnerships, and a new chief operating officer appointment, and stated that first-quarter performance is not viewed as indicative of the rest of 2026.
REED'S, INC. filed an initial Form 3 for Chief Operating Officer Damian Francis Warshall. This filing reports his status as an insider but shows no buy, sell, or other share transactions and no derivative holdings, serving purely as a baseline disclosure of his position.
Reed’s, Inc. is holding a virtual 2026 annual stockholder meeting on June 10, 2026, to vote on five key proposals. Stockholders will elect five directors, ratify Weinberg & Company, P.A. as auditor for 2026, and cast advisory votes on executive pay and its voting frequency.
The meeting will also consider approval of a new 2026 Equity Incentive Plan authorizing 1,300,000 shares plus an annual increase of up to 5% of shares outstanding from 2027–2036. Stockholders of record on April 17, 2026, when 11,820,429 shares were outstanding, are entitled to vote.
Reed’s, Inc. has appointed Damian Warshall as Chief Operating Officer, effective April 27, 2026, taking over the role from Neal M. Cohane, who remains interim Chief Executive Officer. Warshall previously served as Reed’s Vice President of Operations and brings extensive beverage manufacturing and supply chain experience.
Under his offer of employment, Warshall will receive an initial annual base salary of $300,000 and will be eligible for an initial annual target bonus of up to 80% of that base salary. The company highlighted his track record in improving cost structures, scaling operations, and supporting profitable growth as it focuses on strengthening margins and operational efficiency.
Reed’s, Inc. detailed the separation arrangements for former Chief Executive Officer Cyril A. Wallace, Jr., who ended employment on March 31, 2026 and will consult through April 30, 2026. The company and Mr. Wallace entered into a Separation Agreement and Release on April 16, 2026.
Under the agreement, Reed’s will pay severance equal to one month of Mr. Wallace’s annual base salary, totaling $58,333.33, and a lump sum of $2,836.60 representing one month of COBRA premiums. The company will also waive repayment of his sign-on bonus and relocation expenses under his Employment Agreement.
In full satisfaction of a prior 46,667-share inducement restricted stock award, the Compensation Committee approved a fully vested restricted stock award for 36,657 shares under the 2020 Equity Incentive Plan, to be issued on or before April 30, 2026, plus a cash payment of $36,336.30.
Reed’s, Inc. plans to hold its 2026 annual meeting of stockholders on June 10, 2026. Stockholders who want to bring business before the meeting or nominate directors must deliver notice to the company’s principal executive offices by the close of business on April 18, 2026.
Stockholder proposals intended for inclusion in the proxy statement under Rule 14a-8 also must be received by April 18, 2026 and must meet the requirements of the company’s Bylaws and applicable securities laws. Notices should be sent to the Secretary at 501 Merritt 7 PH, Norwalk, Connecticut 06851, with further details to appear in the forthcoming definitive proxy statement.
Reed’s, Inc. announced a leadership change as Chief Executive Officer and director Cyril A. Wallace, Jr. notified the board he will resign effective March 24, 2026, remaining an employee through March 31, 2026. The company states his departure is not due to any disagreement over operations, policies, or practices.
Effective March 24, 2026, Chief Operating Officer Neal M. Cohane is appointed interim Chief Executive Officer and principal executive officer and joins the board, serving until the 2026 annual meeting or until a successor is in place. Cohane has extensive beverage industry and prior Reed’s experience and has signed the company’s standard indemnification agreement.
Reed’s, Inc. files its annual report describing a branded beverage business built around natural ginger-based drinks and Virgil’s craft sodas, sold in over 32,000 outlets in the U.S. and select international markets. The company operates an asset-light model using seven independent co-packers and five distribution centers.
Reed’s reports net losses of $15,842 million in 2025 and $13,152 million in 2024, highlighting ongoing profitability challenges alongside inventory write-offs tied to portfolio changes. As of June 30, 2025, non‑affiliate equity market value was $18,457,633, with 11,820,429 common shares outstanding as of March 20, 2026.
The report outlines growth plans focused on expanding U.S. distribution, scaling new functional sodas and ready‑to‑drink alcoholic beverages, and building out recently formed Asia‑Pacific subsidiaries. Key risks include significant leverage under a $9.25 million senior secured facility, reliance on a few large customers, supply chain volatility, regulatory and tax pressures, and intense competition from much larger beverage companies.