Reed's Q4 net sales $11.7M (down 22% YoY); FY operating loss narrows to $9.4M; guides for 2024 profitability

REED'S, INC.

Q4 net sales $11.7M (down 22% YoY from $15.0M); adjusted gross profit up 26% to $4.3M.
FY 2023 operating loss improved to $9.4M vs $14.8M; modified EBITDA improved to $(3.7)M from $(13.1)M.
Closed $4.1M SAFE financing in Q1 2024; plans to build inventory to reduce short shipments.
2024 outlook expects net sales growth, gross margin expansion, positive modified EBITDA and operating cash flow.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. reported three months ended December 31, 2023 results: revenue $11.7 million.

Period: three months ended December 31, 2023
Revenue: $11.7 million
Result: reported results

Exact text from the filing

Q4 2023 Financial Highlights (vs. Q4 2022): ● Net sales were $11.7 million compared to $15.0 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. updated its full year 2024 guidance (initiated).

Period: full year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

FY 2024 Financial Outlook The Company projects net sales growth, gross margin expansion, and to achieve modified EBITDA profitability for the full year 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REED'S, INC. reported twelve months ended December 31, 2023 results: revenue $44.7 million.

Period: twelve months ended December 31, 2023
Revenue: $44.7 million
Result: reported results

Exact text from the filing

FY 2023 Financial Highlights (vs. FY 2022): ● Net sales were $44.7 million compared to $53.0 million.

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326 earnings releases filed in the last 30 days. Browse all earnings releases →

REED'S, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-011777

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