---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-009500"
form_type: "8-K"
ticker: "REED"
cik: "0001140215"
company_name: "REED'S, INC."
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T09:58:03.360921+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Reed's Q4 net sales up 18% to $15.0M; gross margin expands 250bps; reiterates FY23 outlook

## Summary
- Q4 net sales record $15.0M (+18% YoY); gross profit $3.5M (+32%); gross margin 22.9% vs 20.4%.
- Operating loss improved to $2.8M from $4.4M; Modified EBITDA loss improved 36% to $2.5M.
- FY22 net sales $53.0M (+7%); operating loss improved to $14.0M from $16.0M; Modified EBITDA loss $12.8M.
- Reiterates FY23 outlook: double-digit revenue growth, gross margin >30%, $6M opex cuts, positive Modified EBITDA and cash flow in H2.
- Expanded distribution at Whole Foods (7 new products) and Loblaws (500+ stores in Canada); appointed Chris Burleson as CCO.

## SEC filing metadata
- accession: 0001493152-23-009500
- form_type: 8-K
- ticker: REED
- cik: 0001140215
- company_name: REED'S, INC.
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/0001493152-23-009500-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-009500
- JSON: https://secwatch.observer/filing/0001493152-23-009500.json
- Plain text: https://secwatch.observer/filing/0001493152-23-009500.txt

## Key facts
- Earnings Releases
  REED'S, INC. reported three months ended December 31, 2022 results: revenue $15.0 million, EPS ($1.19) per share.
  - Period: three months ended December 31, 2022
  - Revenue: $15.0 million
  - EPS: ($1.19) per share
  - Result: reported results
  source text: 2 ex99-1.htm Exhibit 99.1 Reed’s Reports Fourth Quarter and Full Year 2022 Results and Reiterates Its 2023 Financial Outlook - Q4 2022 Net Sales Grew 18% to a Record $15.0 million, Gross Margins Expanded +250bps and Operating Expenses Declined 10% - - Continued Double-Digit Net Sales Growth, Gross Margin Expansion and Operating Expense Reductions to Drive
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/0001493152-23-009500-index.htm
- Earnings Releases
  REED'S, INC. updated its FY 2023 guidance (reaffirmed).
  - Period: FY 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The Company is reiterating its previously issued guidance and projects double-digit net revenue growth in 2023, gross margin to surpass 30%, $6 million of operating expense reductions and modified EBITDA to turn profitable by the second half of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/0001493152-23-009500-index.htm
- Earnings Releases
  REED'S, INC. reported three and twelve months ended December 31, 2022 results: revenue $15.0 million Q4 2022; $53.0 million FY 2022, EPS ($1.19) per share Q4 2022; no FY 2022 EPS provided.
  - Period: three and twelve months ended December 31, 2022
  - Revenue: $15.0 million Q4 2022; $53.0 million FY 2022
  - EPS: ($1.19) per share Q4 2022; no FY 2022 EPS provided
  - Result: reported results
  source text: On March 29, 2023 Reed’s, Inc., a Delaware corporation (the “company” or “Reed’s”) issued a press release announcing financial results for the fourth quarter and full fiscal year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/0001493152-23-009500-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.