secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2023-03-29T23:59:59+00:00
Accession:  0001493152-23-009500
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/0001493152-23-009500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223009500/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-009500

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