earnings
confidence high
sentiment negative
materiality 0.70
Reed's reports Q4 net sales down 23% YoY, net loss improves; interim CEO appointed
REED'S, INC.
- Q4 net sales $7.5M vs $9.7M YoY; gross margin fell to 20% from 30%.
- Full year net loss $15.8M vs $13.2M; EBITDA worsened to $(14.6)M from $(7.3)M.
- CEO Cyril Wallace stepped down; Neal Cohane named interim CEO and board member.
- CMO Tina Reejsinghani departed; board member Ruud Bakker takes fractional CMO role.
- Company saw sequential quarterly improvement in net sales, gross margin, and net loss.