A Business at a Glance
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Item 1. Business Reed’s, Inc., a Delaware corporation (“Reed’s”, the “Company,” “we,” or “us” throughout this report) owns a leading portfolio of handcrafted, natural beverages that is sold in over 32,000 outlets nationwide. These outlets include the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, liquor stores, and on-premises locations including bars and restaurants. Reed’s two core brands are Reed’s, which includes Reed’s Craft Ginger Beer, Reed’s Real Ginger Ale, Reed’s Classic Mules, and Reed’s Hard Ginger Ale, and Virgil’s Handcrafted sodas. Reed’s Craft Ginger Beers are unique due to the proprietary process of using fresh ginger root combined with a Jamaican inspired recipe of natural spices, honey and pineapple flavors, and fruit juices.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 36M | 38M | 45M | 53M | 50M | 42M |
| Net Income | -16M | -13M | -16M | -20M | -16M | -10M |
| EPS | $0.74 | $-9.84 | $-26.34 | $-54.42 | $-53.94 | $-51.00 |
| Free Cash Flow | -17M | -6.3M | -4.4M | -16M | -18M | -9.6M |
| ROIC | -94.4% | -75.1% | -49.9% | -58.2% | -84.5% | -96.3% |
| Gross Margin | 23.0% | 30.0% | 21.7% | 22.8% | 27.4% | 30.7% |
| Debt/Equity | 6.64 | 4.52 | -1.43 | -2.54 | 2.58 | 0.13 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | - |
| Operating Income | -15M | -8.1M | -9.4M | -15M | -16M | -8.6M |
| Operating Margin | -42.1% | -21.4% | -21.1% | -28.0% | -32.2% | -20.7% |
| ROE | -587.0% | -197.9% | - | - | -390.4% | -97.9% |
| Shares Outstanding | 9M | 8M | 8M | 0M | 0M | 0M |
REED'S, INC. passes 0 of 9 quality checks, indicating weak fundamentals.
REED'S, INC. trades at 5.5x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average gross margin is 26.5%.
REED'S, INC. (REED) has a current P/E ratio of 5.5, compared to its historical median P/E of 15.0. The stock is currently considered Cheap based on its historical valuation range.
REED'S, INC. (REED) has a 5-year average return on invested capital (ROIC) of -72.8%. This is below average and may indicate limited pricing power.
REED'S, INC. (REED) has a market capitalization of $37M. It is classified as a small-cap stock.
REED'S, INC. (REED) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.00%.
Based on historical P/E analysis, REED'S, INC. (REED) appears cheap. The current P/E of 5.5 is 63% below its historical median of 15.0.
REED'S, INC. (REED) operates in the Bottled & Canned Soft Drinks & Carbonated Waters industry, within the Consumer Defensive sector.
REED'S, INC. (REED) reported annual revenue of $38 million in its most recent fiscal year, based on SEC EDGAR filings.
REED'S, INC. (REED) has a net profit margin of -34.7%. The company is currently unprofitable.
REED'S, INC. (REED) generated $-6 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
REED'S, INC. (REED) has a debt-to-equity ratio of 4.52. This indicates higher leverage, which may increase financial risk.
REED'S, INC. (REED) reported earnings per share (EPS) of $-9.84 in its most recent fiscal year.
REED'S, INC. (REED) has a return on equity (ROE) of -197.9%. A negative ROE may indicate losses or negative equity.
REED'S, INC. (REED) has a 5-year average gross margin of 26.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for REED'S, INC. (REED), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
REED'S, INC. (REED) has a book value per share of $0.88, based on its most recent annual SEC filing.
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