Reed's, Inc. Announces Record Second Quarter Revenues

Aug. 14, 2015

LOS ANGELES, Aug. 13, 2015 (GLOBE NEWSWIRE) -- Reed's, Inc., maker of the top-selling sodas in natural food stores nationwide, today announced the financial results for its fiscal second quarter ending June 30, 2015.

Financial Overview: Second Quarter 2015 Compared to Second Quarter 2014

  • Net revenue increased 9% to a record $12.2 million
  • Promotional spend decreased from 9.5% to 7.5% of gross sales
  • Gross profit decreased slightly to $3.6 million
  • Gross profit margin decreased 300 basis points to 30%
  • Company had a net loss of ($691,000) or ($0.05) per diluted share
  • Modified EBITDA was $94,000 during the 2015 second quarter (See EBITDA table at end of this release for further non-GAAP information).
  • Reed's Ginger Brew sales increased by 22%
  • Reed's Culture Club Kombucha sales increased by 15%
  • Successful launch of private label Kombucha offering

Full report.