Reed'S Inc (PK:REED)

Sector:  Consumer Non-Cyclicals Industry:  Non-Alcoholic Beverages
 
See Regulatory Filings on SEC
Company Contact
Address: 201 Merritt 7 Corporate Park,
NORWALK CT 06851
Tel: N/A
Website: https://www.drinkreeds.com
IR: See website
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Key People
John J. Bello
Chairman of the Board 		Norman E. Snyder
Chief Executive Officer, Director 		Joann Christine Tinnelly
Chief Financial Officer
Neal Cohane
Chief Sales Officer 		Christopher Burleson
Chief Commercial Officer 		Christopher John Reed
Chief Innovation Officer
Business Overview
Reed's, Inc. owns a portfolio of handcrafted, natural beverages, which sells in over 45,000 outlets nationwide. These outlets include the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, liquor stores, and on-premises locations including bars and restaurants. The Company provides craft beverages under the Reed's, Virgil's, and Flying Cauldron brand names. Reed's portfolio includes ginger beers, ginger ales, ready-to-drink ginger mules and hard ginger ales. The Virgil's brand offers an array of flavored sodas, including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and more. These flavors are also available in six zero-sugar varieties. Flying Cauldron is a non-alcoholic butterscotch beer. Reed's Craft Ginger Beer line includes varieties with a mix of bottles and cans, including Reed's Original Ginger Beer, Reed's Premium Ginger Beer, Reed's Extra Ginger Beer, Reed's Strongest Ginger Beer, and others.
Financial Overview
For the fiscal year ended 31 December 2023, Reed'S Inc revenues decreased 16% to $44.7M. Net loss applicable to common stockholders decreased 23% to $15.5M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Delivery and handling expense decrease of 35% to $7.6M (expense), Selling and marketing expences decrease of 25% to $4.8M (expense).
Employees: 21 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $34.52M as of Dec 31, 2023
Annual revenue (TTM): $44.71M as of Dec 31, 2023
EBITDA (TTM): -$7.09M as of Dec 31, 2023
Net annual income (TTM): -$15.53M as of Dec 31, 2023
Free cash flow (TTM): -$4.35M as of Dec 31, 2023
Net Debt Last Fiscal Year: $26.77M as of Dec 31, 2023
Shares outstanding: 4,187,291 as of Mar 19, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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