Reed's Q1 revenue flat at $12.2M; gross margin plunges to 24.1% from 31.7%

REED'S, INC.

Net revenue $12.2M (flat YoY) despite 20% order volume growth; gross margin fell to 24.1% from 31.7%.
Operating loss $4.2M ($0.04/share) vs $4.3M loss in Q1 2021; Modified EBITDA -$3.8M vs -$3.4M.
Cash $122k at Mar 31; $5.1M available on $13M revolver; subsequent $11.3M convertible note placement closed.
FY2022 guidance reaffirmed: net sales $59-62M (20-25% growth), gross margin ~30%.
CEO cites supply chain and shipping discipline; expects strong Q2 growth and cash flow positive next year.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

REED'S, INC. reported first quarter ended March 31, 2022 results: revenue $12.2 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2022
Revenue: $12.2 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reed’s Reports First Quarter 2022 Results Norwalk, CT, (May 16, 2022) — Reed’s, Inc. (NASDAQ: REED) (“Reed’s” or the “Company”), owner of the nation’s leading portfolio of handcrafted, all-natural ginger beverages, is reporting financial results for the three months ended March 31, 2022. Q1 2022 Financial Highlights (vs. Q1 2021): ● Net revenue increased to $12.2 million compared to $12.1 million.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

REED'S, INC. filing history →

Source: SEC EDGAR

accession 0001493152-22-013791

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