Reed's preliminary Q4 2022 revenue up 18% to $15.1M; guides to positive Modified EBITDA by Q2 2023

REED'S, INC.

2023-FY EPS reported -$9.07 revenue$53,041,000

Preliminary Q4 net revenue $15.1M (+18% YoY); gross margin ~26% (+530 bps).
Preliminary FY 2022 net revenue $53.1M (+7% YoY); gross margin ~24% vs 27%.
Q4 Modified EBITDA loss improved to $(1.9)M from $(3.9)M; FY loss $(12.2)M vs $(13.5)M.
FY 2023 guidance: double-digit revenue growth, margin >30%, positive Modified EBITDA by Q2, and positive cash flow.
Expects >$6M in operating cost savings from 2022 levels across COGS, delivery, marketing, and G&A.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. reported Q4 2022 results: revenue approximately $15.1 million.

Period: Q4 2022
Revenue: approximately $15.1 million
Result: preliminary results

Exact text from the filing

Preliminary Q4 2022 Financial Highlights (vs. Q4 2021) ● Net revenue is projected to increase 18% to approximately $15.1 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. reported FY 2022 results: revenue approximately $53.1 million.

Period: FY 2022
Revenue: approximately $53.1 million
Result: preliminary results

Exact text from the filing

Preliminary FY 2022 Financial Highlights (vs. 2021) ● Net revenue is projected to increase 7% to approximately $53.1 million compared to $49.6 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. updated its FY 2023 guidance (initiated).

Period: FY 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

FY 2023 Financial Outlook The Company projects double-digit net revenue growth in 2023, gross margin to surpass 30%, and modified EBITDA to turn profitable by the end of the second quarter.

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REED'S, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-003246

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