Welcome to our dedicated page for Reeds news (Ticker: REED), a resource for investors and traders seeking the latest updates and insights on Reeds stock.
Reed’s, Inc. reports company developments for a branded beverage business built around handcrafted, natural ginger beverages and other craft beverage brands. Its updates commonly cover financial results, conference calls, distribution and channel initiatives, product and brand activity under the Reed’s, Virgil’s and Flying Cauldron names, and operating priorities such as sales execution, supply chain efficiency and margin improvement.
Reed’s news also includes governance and capital-structure actions, including executive appointments, board changes, public equity offerings and its completed listing on NYSE American. The company’s beverages are sold through national retail and food-service channels, including grocery, specialty, mass, drug, convenience, club and on-premise locations.
NORWALK, Conn., March 14, 2022 – Reed’s, Inc. (NASDAQ:REED) closed a private placement with institutional and accredited investors, raising $5.4 million by issuing 18,594,571 shares and warrants for an additional 9,297,289 shares. Officers and directors bought approximately $1.1 million of the offering. Shares sold for $0.28 each, while officers purchased at $0.3502. The warrants, exercisable at $0.2877, are valid for five years. Proceeds will be used for working capital and corporate purposes. Roth Capital Partners acted as the placement agent.
Reed's, Inc. (NASDAQ:REED) has secured approximately $5.3 million through a private placement, issuing about 18 million shares of common stock and warrants to purchase an additional 9 million shares. The offering includes significant commitments from company officers, totaling $1.1 million. Shares were priced at $0.28 for investors and $0.3502 for officers. Proceeds will be utilized for working capital and general corporate purposes. The offering is anticipated to close around March 11, 2022.
Reed's, Inc. reported a 19% increase in Q4 2021 net revenue, reaching approximately $12.7 million. For the full year, net revenue also rose 19% to about $49.6 million. The company anticipates 2022 net sales between $59-$62 million with a 30% gross margin. Despite challenges like higher packaging costs and inflation impacting gross margin, Reed's celebrated ongoing growth in ginger beverages, especially through its Reed's Classic Mule product. Management is optimistic about implementing cost-saving measures and improving margins moving forward.
Reed’s Inc. (NASDAQ: REED) announced plans to distribute 16 new SKUs to Sprouts Farmers Market (NASDAQ: SFM) across all 376 stores nationwide, starting in Q2 2022. This partnership expands from the successful launch of Reed’s Ginger Ale and Ginger Beer in 2021. The new offerings include various flavors of Reed’s Zero Sugar Ginger Ale and Virgil’s beverages. CEO Norman E. Snyder expressed enthusiasm about providing high-quality products aligned with Sprouts’ commitment to natural ingredients.
Reed's Inc. (NASDAQ: REED) announced the launch of its Zero Sugar Classic Mule at 28 Costco locations across the Southeast, including Florida, South Carolina, Tennessee, and Georgia. The beverage, made with fresh ginger root and containing 7% alcohol, is free from added sugar, artificial colors, gluten, GMOs, and caffeine. Retailing at $24.99 for a 12-pack of 12oz cans, this product responds to growing consumer demand for premium, ready-to-drink beverages. Reed's aims to continue expanding its distribution throughout 2022.
Reed’s Inc. has launched its Zero Sugar Classic Mule at Midtown Fresh in Kalamazoo, Michigan, marking its first retail placement in the state. This partnership will enhance consumer access to this ready-to-drink beverage, distributed by IHS Distributing. Chief Sales Officer Neal Cohane expressed optimism about consumer acceptance and sales velocity. Midtown Fresh’s owner, Paul Petros, highlighted their excitement to introduce this product, furthering Reed’s reach in Michigan's beverage market.
Reed’s Inc. (NASDAQ: REED) has launched Reed’s REAL Cranberry Ginger Ale exclusively for Costco members in the Northwest region during the holiday season. This non-alcoholic beverage combines cranberry's sweet taste with organic pressed ginger, is sweetened with cane sugar, and contains no preservatives or artificial ingredients. Currently available at 70 Costco locations across WA, OR, ID, MT, AK, and UT, the new flavor aims to cater to the growing demand for premium, ginger-based beverages. CEO Norman E. Snyder expressed excitement for this addition to their portfolio.
Reed's Inc. (Nasdaq:REED) reported a 27% increase in net sales for Q3 2021, reaching $13.4 million, up from $10.6 million in Q3 2020. The growth was fueled by a 34% volume increase in the Reed’s brand. However, gross margin declined to 29% from 32% due to rising costs linked to supply chain issues. Operating loss expanded to $3.7 million and net loss was $3.9 million, unchanged at $0.04 per share. The company raised its full-year net sales guidance to 20% but reduced gross margin expectations to 30%.
Reed's, Inc. (NASDAQ: REED) announced the nomination of Rhonda Kallman to its board of directors during its annual stockholders meeting scheduled for December 21, 2021. Kallman, a prominent figure in the beverage industry with over 35 years of experience, fills the vacancy left by the retiring Scott R. Grossman. Reed's board chairman John Bello emphasized Kallman's operational and strategic strengths, aiming to enhance the company's growth and market presence in all-natural beverages. The company continues to lead the market with its ginger-based products and has recently expanded into zero-sugar offerings.
Reed's Inc. (NASDAQ: REED) has launched Flying Cauldron® Butterscotch Cream Soda and reintroduced Virgil's™ Bavarian Nutmeg Root Beer in a unique swing-lid packaging format. These handcrafted beverages are designed for sharing, featuring a resealable top for ease of use. Available just in time for fall festivities, they emphasize the company's commitment to high-quality, all-natural ingredients. The sodas can be purchased at select retailers such as Sprouts and Cracker Barrel, bringing a nostalgic experience to consumers.