Reborn Coffee Stock Price, News & Analysis

Reborn Coffee, Inc. (NASDAQ: REBN) has launched an advisory board, appointing Bill Koschak, a seasoned financial executive, to provide strategic guidance as the company aims for growth in the specialty coffee sector. Koschak, with over 30 years in corporate finance, has previously served as CFO at Calyxt and in senior finance roles at Medtronic and General Mills, where he significantly improved profit margins.

This newly established advisory board is intended to enhance Reborn's expansion strategy, driven by customer demand and innovative product offerings. CEO Jay Kim expressed confidence in Koschak's expertise to support the company during this pivotal growth phase. Koschak remarked on the company's potential for global growth and his anticipation of driving its future direction.

Reborn Coffee, Inc. (NASDAQ: REBN) reported a strong financial performance for the year ended December 31, 2022, with revenues increasing by 42% to approximately $3.2 million, a significant rise from $2.3 million in 2021. Gross profit also saw a robust increase of 49% to $2.1 million, reflecting improved gross margins of 65.7%. The company successfully opened four new locations, bringing the total to 11 stores, and has plans to expand further into Southern California and Korea. Furthermore, Reborn launched a new line of Super-Premium Cold Brew Ice Creams to enhance its product offerings. Despite the growth, the company reported a net loss of approximately $3.6 million for the year, up from $3.4 million in 2021, amidst rising operational costs, which increased by 40%.

Reborn Coffee, Inc. (NASDAQ: REBN) has launched a new line of Super-Premium Cold Brew Ice Creams at their retail locations in California. This ice cream line features four flavors infused with the company’s signature cold brew coffee: Cold Brew, Mocha Rum, Bourbon Vanilla, and Coconut Cream. Made with natural ingredients, the ice cream boasts a high butterfat content, enhancing its creamy texture. CEO Jay Kim highlighted the product as a natural brand extension aimed at affluent coffee lovers. The launch will be supported through in-store promotions and partnerships with food brokers to expand distribution to upscale supermarkets.

Reborn Coffee (NASDAQ: REBN) has signed a Memorandum of Understanding with Bay View Farm to produce and distribute Hawaiian cascara tea globally. This collaboration aims to create Cascara, an herbal drink made from the dried skins of coffee cherries, promoting sustainability by reducing waste from coffee production. Bay View Farm, a Kona coffee producer, has been in operation since 1984 and can process 2 million pounds of coffee cherries annually. The partnership is expected to enhance Reborn's specialty coffee offerings and generate additional income. Growing demand from U.S. coffee chains may boost prices for Cascara, supporting revenue growth.

Reborn Coffee, Inc. (NASDAQ: REBN) announced a Memorandum of Understanding with COLLECTIVE PROJECT SDN BHD to develop a joint venture in Southeast Asia, signed on January 15, 2023. This partnership aims to expand Reborn's specialty coffee brand, leveraging COLLECTIVE's experience in sourcing and roasting high-quality coffee. The initial flagship store will open in Kuala Lumpur, Malaysia, in February 2023, with plans for further expansions in Singapore and Jakarta. Reborn anticipates significant growth opportunities, driven by rising middle-class consumer demand for specialty coffee in the region.

Reborn Coffee, Inc. (NASDAQ: REBN) announced the opening of new company-owned retail locations in Southern California and Korea, increasing its global footprint to 14 stores. The new Pasadena location will cater to a vibrant community with over 30,000 students, while the Irvine site will feature a full kitchen and outdoor patio. In Korea, a flagship store and roasting R&D facility will support franchise expansion, aiming to attract local customers with in-house products. CEO Jay Kim emphasized the strategic nature of these locations in expanding market reach and enhancing customer experience.

Reborn Coffee (NASDAQ: REBN) announced a strategic acquisition in Daejeon, South Korea, aiming to enhance its global presence. The company signed a binding Letter of Intent to acquire a specialty coffee shop and a roasting R&D facility, collectively generating approximately $400,000 in annual sales. This location will serve as a flagship store and headquarters for the franchise program in Korea. The initiative represents Reborn's first significant move into the Asia-Pacific market, with plans to increase sales through marketing and in-house product offerings.

Reborn Coffee, Inc. (NASDAQ: REBN) reported Q3 2022 financial results with revenues of $0.8 million, a 22% increase from $0.7 million in Q3 2021. For the nine-month period, revenues surged 52% to $2.4 million compared to $1.6 million in 2021. The company plans to open five new retail locations in Southern California, aiming for a total of 14 stores. After an IPO that raised $6.2 million, Reborn is set to expand into B2B markets with new products. Despite a net loss of $0.9 million in Q3 2022, cash reserves improved to $4.7 million.

Reborn Coffee, Inc. (NASDAQ: REBN) will participate in the LD Micro Main Event XV Conference from October 25-27, 2022, at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. CEO Jay Kim and CFO Stephan Kim will hold one-on-one meetings and present on October 26 at 11:30 am PT (2:30 pm ET) in TRACK 4. The presentation will be webcast live and available for replay on the Reborn investor relations website. Interested parties can contact the conference representative for meeting arrangements.