---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-027553"
form_type: "8-K"
ticker: "REED"
cik: "0001140215"
company_name: "REED'S, INC."
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T16:33:00.304746+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Reed's Q2 net sales down 27% to $10.0M; guides FY sales to $48-52M, reiterates margin and EBITDA targets

## Summary
- Net sales $10.0M vs $13.7M YoY; shortfall of ~$1.6M due to supplier credit terms constraining inventory.
- Operating loss improved to $(1.7)M from $(4.5)M; modified EBITDA loss improved to $(1.6)M from $(4.3)M.
- Gross margin expanded 105 bps to 25.1%; management targets >30% for FY 2023.
- FY 2023 net sales guidance cut to $48-52M; reaffirms $6M opex savings, modified EBITDA profitable in H2.
- Cash $0.4M; total debt $22.8M ($16.2M convertible note, $6.6M revolver); operations used $3.4M cash in Q2.

## SEC filing metadata
- accession: 0001493152-23-027553
- form_type: 8-K
- ticker: REED
- cik: 0001140215
- company_name: REED'S, INC.
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1140215/000149315223027553/0001493152-23-027553-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140215/000149315223027553/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-027553
- JSON: https://secwatch.observer/filing/0001493152-23-027553.json
- Plain text: https://secwatch.observer/filing/0001493152-23-027553.txt

## Key facts
- Earnings Releases
  REED'S, INC. reported the second quarter ended June 30, 2023 results: revenue $10.0 million. Guidance lowered.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $10.0 million
  - Guidance: lowered
  - Result: reported results
  source text: During the second quarter of 2023, net sales were $10.0 million compared to $13.7 million in the year-ago period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140215/000149315223027553/0001493152-23-027553-index.htm

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