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.
Reed’s, Inc. (NASDAQ: REED) reported Q1 2022 financials, showing a slight net revenue increase to $12.2 million from $12.1 million year-over-year. However, gross profit declined to $2.9 million with a gross margin of 24.1%, down from 31.7% due to rising input costs. Operating expenses fell to $7.1 million, leading to an operating loss of $(4.2) million. The company anticipates 20-25% sales growth for 2022, despite current challenges, and expects improved gross margins as cost-saving measures take effect.
Reed’s, Inc. (NASDAQ: REED) announced a successful private placement of senior secured convertible notes totaling $11.25 million. The notes feature a 10% coupon, maturing on May 9, 2025, and are convertible into stock at approximately $0.24 per share. The company plans to use the proceeds primarily to repay debt and support working capital. An additional $12 million can be drawn in the future. CEO Norman E. Snyder expressed optimism about achieving positive cash flow by late 2023 amidst ongoing business momentum.
Reed's, Inc. (NASDAQ: REED) will host a conference call on May 16, 2022, at 5:00 p.m. Eastern time to discuss its Q1 financial results for 2022. The call will include a presentation by management and a question-and-answer session afterward. Interested participants can dial in using the toll-free number (844) 850-0544 or join via the webcast available on the company's investor relations website. Reed's specializes in handcrafted, all-natural ginger beverages and has expanded its product line to include zero-sugar options.
Reed’s, Inc. (NASDAQ: REED) reported a 19% increase in FY 2021 net revenue, reaching $49.6 million, with Q4 2021 revenue up 20% to $12.8 million. However, gross profit fell to $13.6 million, with margin decreasing to 27.4%. The company recorded an operating loss of $(15.9) million. Looking ahead, Reed’s expects 2022 net sales between $59-$62 million and a gross margin of 30%. The company is initiating cost-saving strategies to mitigate increased supply chain costs. A conference call will be held on March 31, 2022, to discuss these results.
Reed’s, Inc. (NASDAQ: REED) announced a conference call scheduled for March 31, 2022, at 5:00 p.m. Eastern time to discuss its financial results for the year ending December 31, 2021. Key details include the toll-free dial-in number (844) 850-0544 and the conference ID 10164980. The call will be accessible live and for replay on the company’s investor relations website. Reed’s is recognized as a leader in natural ginger beverages, with products available in over 45,000 stores nationwide.
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.