---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-019741"
form_type: "8-K"
ticker: "REED"
cik: "0001140215"
company_name: "REED'S, INC."
filed_at: "2023-06-01T23:59:59+00:00"
generated_at: "2026-06-14T08:59:10.880824+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Reed's Q1 net sales down to $11.2M; secures $5.6M financing; reiterates FY profitability targets

## Summary
- Net sales $11.2M vs $12.2M YoY; operating loss improved to $(2.6)M from $(4.2)M.
- Modified EBITDA loss improved to $(2.3)M vs $(3.8)M; gross margin flat at 24.2%.
- Secured $4.1M PIPE from D&D and top shareholders plus $1.5M note augmentation for total $5.6M.
- FY2023 outlook: net sales growth expected, gross margin to surpass 30%, modified EBITDA positive in H2.
- Cash $2.3M, total debt $22.4M as of May 31, 2023; inventory challenges offset net sales by >$1.6M.

## SEC filing metadata
- accession: 0001493152-23-019741
- form_type: 8-K
- ticker: REED
- cik: 0001140215
- company_name: REED'S, INC.
- filed_at: 2023-06-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140215/000149315223019741/0001493152-23-019741-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140215/000149315223019741/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-019741
- JSON: https://secwatch.observer/filing/0001493152-23-019741.json
- Plain text: https://secwatch.observer/filing/0001493152-23-019741.txt

## Key facts
- Earnings Releases
  REED'S, INC. reported the three months ended March 31, 2023 results: revenue $11.2 million, EPS $(1.01) per share.
  - Period: the three months ended March 31, 2023
  - Revenue: $11.2 million
  - EPS: $(1.01) per share
  - Result: reported results
  source text: of handcrafted, natural ginger beverages, is reporting financial results for the three months ended March 31, 2023. Q1 2023 Financial Highlights (vs. Q1 2022): ● Net sales were $11.2 million compared to $12.2 million. ● Gross profit was $2.7 million compared to $2.9 million, with gross margin of 24.2% compared to 24.1%. ● Delivery and handling costs declined 25% to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140215/000149315223019741/0001493152-23-019741-index.htm

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