secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0001493152-22-013791
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315222013791/0001493152-22-013791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315222013791/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-013791

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer