Reed's Q1 net sales down 14% to $9.6M but gross margin expands to 35.6%; reiterates FY outlook

REED'S, INC.

2024-Q1 EPS reported -$0.40 revenue$9,595,000

Net sales $9.6M vs $11.2M YoY; operating loss improved to $0.6M from $2.6M.
Gross margin up 1,140 bps to 35.6% driven by lower supply chain and input costs.
Delivery/handling costs per case down 13% to $3.01; SG&A down 19% to $2.6M.
Modified EBITDA loss narrowed to $0.4M from $2.3M; cash used in ops $2.4M.
Reiterates FY2024 outlook: net sales growth, gross margin expansion, positive EBITDA and cash flow from ops.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REED'S, INC. reported three months ended March 31, 2024 results: revenue $9.6 million, EPS $(0.16) per share. Guidance reaffirmed.

Period: three months ended March 31, 2024
Revenue: $9.6 million
EPS: $(0.16) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of handcrafted, natural ginger beverages, is reporting financial results for the three months ended March 31, 2024. Q1 2024 Financial Highlights (vs. Q1 2023): ● Net sales were $9.6 million compared to $11.2 million. ● Gross profit increased 26% to $3.4 million, with gross margin up 1,140 bps to 35.6%. ● Delivery and handling costs were reduced by 29% to $3.01 per

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Source: SEC EDGAR

accession 0001493152-24-019295

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