secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001493152-23-040114
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reed's Q3 gross margin surges to 34%; first modified EBITDA profit since 2016
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- Q3 net sales $11.9M (-2% YoY); gross profit $4.0M (+66% YoY); gross margin 34.0% vs 20.1%.
- Operating loss narrowed to $0.1M from $2.5M; modified EBITDA turned positive at $0.2M vs -$2.2M.
- SG&A down 14% to $2.3M; delivery & handling costs cut 15% to $2.98/case.
- FY2023 net sales guidance revised to $45-$47M due to inventory shortages; expects to maintain EBITDA profitability.
- Cash $1.0M; total debt $26.8M ($17.1M convertible note, $9.7M revolver); $3.1M revolver available.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223040114/0001493152-23-040114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223040114/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-040114

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