secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001493152-24-045387
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reed's Q3 net sales $6.8M, down 43% YoY; operating loss $3.1M; secures $10M credit facility
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- Net sales $6.8M vs $11.9M Q3 2023; gross margin dropped to 18.0% from 34.0%.
- Operating loss $3.1M vs $0.1M; Modified EBITDA -$3.0M vs +$0.2M.
- Majority stockholder D&D bought all secured notes from Whitebox; new $10M revolver at 8% closes Nov 14.
- FY 2024 outlook withdrawn; inventory shortages caused ~$4M in lost sales.
- Cash $0.3M, total debt $27.1M at Sep 30; new facility aims to improve liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224045387/0001493152-24-045387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224045387/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-045387

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