secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001493152-22-031404
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 Q3 net sales fall 10% to $12.1M; gross margin drops to 20.1%; guidance trimmed
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- Net sales $12.1M vs $13.4M YoY; $3.8M delayed shipment pushed into Q4.
- Gross margin 20.1% vs 28.9% due to lower revenue, higher promo spend, and mix.
- Operating loss narrowed to $2.5M ($0.03/share) from $3.7M; operating expenses down 35%.
- Modified EBITDA loss improved to $2.2M from $3.1M; cash used in ops just $177k vs $5.0M.
- FY2022 guidance: net sales $56-59M (13-19% growth), gross margin ~25% (down from 27.4%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315222031404/0001493152-22-031404-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315222031404/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-031404

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