Reeds currently expects FY23 gross margin to surpass 30% and modified EBITDA to turn profitable by 2H23. The company also expects to turn cash flow positive in 2H23.
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NORWALK, Conn., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, today announced it has closed its $6 million private investment in public equity ("PIPE"). Approximately $4.1 million of previously funded Simple Investments in Future Equity ("SAFEs") automatically converted into the PIPE. $1.9 million of cash proceeds was funded by the lead investor and the Company's largest stockholder, D&D Source of Life Holding LTD. The purchase price per share was $1.50, which reflects a premium of approximately 21% to the closing stock price on September 13, 2024. "I am pleased
Double-Digit Net Sales Growth and Gross Margin Expansion Drive Lower Operating Loss and Positive Modified EBITDA Reiterates Full Year 2024 Financial Outlook NORWALK, Conn., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, is reporting financial results for the three months ended June 30, 2024. Q2 2024 Financial Highlights (vs. Q2 2023): Net sales increased 19% to $11.9 million.Gross profit increased 53% to $3.8 million, with gross margin up 720 bps to 32.3%.Delivery and handling costs were reduced by 16% to $2.18 per case.Selling, general and admini
NORWALK, Conn., July 30, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, will host a conference call on Tuesday, August 13, 2024 at 5:00 p.m. Eastern time to discuss its financial results for the three months ended June 30, 2024. The Company's results will be reported in a press release prior to the call. Reed's management will host the conference call, followed by a question-and-answer period. Date: Tuesday, August 13, 2024Time: 5:00 p.m. Eastern timeToll-free dial-in number: (800) 717-1738International dial-in number: (646) 307-1865Conference ID: 78880Webcast: Reed's Q2 202
Double-Digit Net Sales Growth and Gross Margin Expansion Drive Lower Operating Loss and Positive Modified EBITDA Reiterates Full Year 2024 Financial Outlook NORWALK, Conn., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, is reporting financial results for the three months ended June 30, 2024. Q2 2024 Financial Highlights (vs. Q2 2023): Net sales increased 19% to $11.9 million.Gross profit increased 53% to $3.8 million, with gross margin up 720 bps to 32.3%.Delivery and handling costs were reduced by 16% to $2.18 per case.Selling, general and admini
NORWALK, Conn., July 30, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, will host a conference call on Tuesday, August 13, 2024 at 5:00 p.m. Eastern time to discuss its financial results for the three months ended June 30, 2024. The Company's results will be reported in a press release prior to the call. Reed's management will host the conference call, followed by a question-and-answer period. Date: Tuesday, August 13, 2024Time: 5:00 p.m. Eastern timeToll-free dial-in number: (800) 717-1738International dial-in number: (646) 307-1865Conference ID: 78880Webcast: Reed's Q2 202
Reiterates Full Year 2024 Financial Outlook Management to Host Conference Call Today at 5:00 p.m. ET NORWALK, Conn., May 14, 2024 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, is reporting financial results for the three months ended March 31, 2024. Q1 2024 Financial Highlights (vs. Q1 2023): Net sales were $9.6 million compared to $11.2 million.Gross profit increased 26% to $3.4 million, with gross margin up 1,140 bps to 35.6%.Delivery and handling costs were reduced by 29% to $3.01 per case.Selling, general and administrative expenses were reduced by 19% to $2.6 million.Oper
8-K - REED'S, INC. (0001140215) (Filer)
8-K - REED'S, INC. (0001140215) (Filer)
8-K - REED'S, INC. (0001140215) (Filer)
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Reed's (NASDAQ:REED) reported quarterly losses of $(0.40) per share which beat the analyst consensus estimate of $(0.46) by 13.04 percent. This is a 76.47 percent increase over losses of $(1.70) per share from the same period last year. The company reported quarterly sales of $9.60 million which missed the analyst consensus estimate of $13.37 million by 28.23 percent. This is a 14.00 percent decrease over sales of $11.16 million the same period last year.
Reed's (NASDAQ:REED) reported quarterly losses of $(2.07) per share. The company reported quarterly sales of $11.700 million which missed the analyst consensus estimate of $14.084 million by 16.93 percent. This is a 22.21 percent decrease over sales of $15.040 million the same period last year.
The Dow Jones closed slightly higher on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform. CommScope Holding The Trade: CommScope Holding Company, Inc. (NASDAQ:COMM) SVP, Chief Legal Officer & Sec Justin Choi acquired a total of 28,600 shares an average price of $1.74. To acquire these shares, it cost around $49,750. What’s Happening: On Nov. 9, Co
NORWALK, Conn., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, today announced that Interim Chief Financial Officer (CFO) Joann Tinnelly has transitioned to permanent CFO, effective today. Ms. Tinnelly has served as Vice President and Corporate Controller of Reed's since July 2018. Throughout her tenure at the Company, she has stepped into the role of Interim CFO on two separate occasions, most recently in March 2023. She is a Certified Public Accountant with more than 30 years of finance and accounting experience in global public and private companies. Ms. Tinnell
NORWALK, Conn., July 13, 2023 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, has appointed Shufen Deng to its board of directors (the "Board") effective July 7, 2023. Ms. Deng replaces Leon Zaltzman on the Board, who has transitioned to a Board Observer position. Ms. Deng brings more than 30 years of legal and capital markets experience to Reed's and is the sole shareholder and director of D&D Source of Life Holding Ltd. ("D&D"), the Company's largest shareholder. As announced on May 31, 2023, Reed's closed a series of financing transactions, led by a $3.0 million strategic invest
NORWALK, Conn., March 31, 2023 (GLOBE NEWSWIRE) -- Reed's, Inc. (OTCQX:REED) ("Reed's" or the "Company"), owner of the nation's leading portfolio of handcrafted, natural ginger beverages, today announced that Joann Tinnelly, current Vice President and Corporate Controller of Reed's, was appointed by the Board of Directors to the position of Interim Chief Financial Officer, effective March 31, 2023. On March 7, 2023, Reed's announced the resignation of Tom Spisak from the role of Chief Financial Officer, effective March 30, 2023. Mr. Spisak's resignation was not due to any disagreement with the Company on any matter, including matters related to the Company's operations, policies, practice