REED'S, INC. REED

Consumer staples SIC 2086 - Bottled & Canned Soft Drinks & Carbonated Waters NAICS Manufacturing › Beverage and Tobacco Product Manufacturing › Beverage Manufacturing › Soft Drink and Ice Manufacturing derived NYSE

are a branded beverage company offering a portfolio of natural, premium, and functional beverages under the Reed's and Virgil's

brands. Our products are sold in over 32,000 outlets across the United States and in select international markets. We compete within

the U.S. carbonated soft drink ("CSD") market by providing alternatives that we believe are better-for-you,

with a focus on real ginger, clean-label ingredients, and functional formulations.

Last close 0.59 2026-10-23
Market cap $7.0M 2026-06-30 share count
52-week range 0.33 - 5.97

Valuation FY2025 figures against the last close

P/S0.2x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.91

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $34.1M$38.0M$44.7M$53.0M$49.6M$41.6M$33.8M$38.1M$37.7M$42.5M
Cost of revenue $27.1M$26.6M$31.9M$40.9M$36.0M$28.8M$25.9M$27.4M$30.8M$33.2M
Gross profit $7.0M$11.4M$9.7M$12.1M$13.6M$12.8M$7.9M$10.7M$6.9M$9.2M
SG&A $11.3M$9.1M$6.1M$7.5M$8.0M$7.0M$7.6M$8.4M$5.8M$4.0M
Total operating expenses $22.1M$19.5M$19.1M$26.9M$29.6M$21.4M$22.7M$18.8M$18.6M$12.0M
Operating income -$15.1M-$8.1M-$9.4M-$14.8M-$16.0M-$8.6M-$14.9M-$8.1M-$11.7M-$2.8M
Interest expense $1.1M$5.5M$6.1M$5.2M$1.2M$1.3M$1.3M$2.2M$3.5M$2.0M
Net income -$15.8M-$13.2M-$15.5M-$20.1M-$16.4M-$10.2M-$16.1M-$10.3M-$18.4M-$5.0M
EPS, basic -1.91-9.81-4.39-9.07-8.99—————
EPS, diluted -1.91-9.81-4.39-9.07-0.18-0.17-0.46-0.41-1.24-0.37
Shares, diluted (wtd. avg.) 8.3M1.3M3.5M2.2M1.8M—————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Receivables $2.3M$4.0M$3.6M$5.7M$5.2M$4.7M$2.1M$2.6M$2.7M$2.5M
Inventory $8.0M$8.1M$11.3M$16.2M$17.0M$11.1M$10.5M$7.4M$5.9M$6.9M
Total current assets $21.5M$23.3M$17.8M$24.1M$24.7M$18.5M$14.3M$10.9M$20.9M$10.3M
Property, plant and equipment $1.2M$1.2M$493.0K$766.0K$992.0K$920.0K$1.1M$896.0K$174.0K$7.7M
Other intangibles $650.0K$644.0K$629.0K$626.0K$624.0K$615.0K$576.0K$576.0K$805.0K$805.0K
Total assets $23.3M$25.1M$18.9M$25.5M$26.3M$20.1M$16.0M$12.5M$24.5M$18.9M
Accounts payable $3.5M$7.0M$9.1M$9.8M$10.4M$6.7M$5.4M$5.7M$7.5M$6.0M
Short-term debt ————————$222.0K$190.0K
Total current liabilities $13.4M$17.7M$27.2M$25.7M$21.7M$8.9M$9.4M$14.2M$18.6M$11.9M
Long-term debt ————————$1.2M$1.4M
Total liabilities $14.2M$18.5M$38.1M$34.0M$22.1M$9.7M$14.8M$19.2M$24.0M$20.5M
Retained earnings -$167.7M-$151.9M-$138.7M-$123.2M-$103.1M-$86.7M-$76.5M-$60.4M-$50.1M-$31.7M
Total equity $9.2M$6.6M-$19.2M-$8.5M$4.2M$10.4M$1.1M-$6.7M$508.0K-$1.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$17.0M-$6.1M-$4.3M-$15.5M-$17.6M-$9.5M-$18.2M-$9.3M-$3.4M-$2.5M
Depreciation and amortisation $160.0K$125.0K$142.0K$108.0K$143.0K$88.0K$61.0K$86.0K$551.0K$387.0K
Stock-based compensation $59.0K$528.0K$492.0K—————$276.0K$658.0K
Capital expenditure $272.0K$152.0K$85.0K—$326.0K$122.0K$322.0K$159.0K$813.0K$410.0K
Investing cash flow -$253.0K-$167.0K-$20.0K-$2.0K-$335.0K-$161.0K-$277.0K$942.0K-$813.0K-$410.0K
Financing cash flow $17.3M$16.1M$4.4M$16.0M$17.4M$9.3M$18.7M-$3.2M$15.9M$1.6M
Buybacks ——$1.0K$2.0K$15.0K—————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-019611.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -40M -20M 0 20M 40M 60M Revenue, FY2016: 42.5M Gross profit, FY2016: 9.2M Net income, FY2016: -5M Revenue, FY2017: 37.7M Gross profit, FY2017: 6.9M Net income, FY2017: -18.4M Revenue, FY2018: 38.1M Gross profit, FY2018: 10.7M Net income, FY2018: -10.3M Revenue, FY2019: 33.8M Gross profit, FY2019: 7.9M Net income, FY2019: -16.1M Revenue, FY2020: 41.6M Gross profit, FY2020: 12.8M Net income, FY2020: -10.2M Revenue, FY2021: 49.6M Gross profit, FY2021: 13.6M Net income, FY2021: -16.4M Revenue, FY2022: 53M Gross profit, FY2022: 12.1M Net income, FY2022: -20.1M Revenue, FY2023: 44.7M Gross profit, FY2023: 9.7M Net income, FY2023: -15.5M Revenue, FY2024: 38M Gross profit, FY2024: 11.4M Net income, FY2024: -13.2M Revenue, FY2025: 34.1M Gross profit, FY2025: 7M Net income, FY2025: -15.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $42.5M $37.7M $38.1M $33.8M $41.6M $49.6M $53.0M $44.7M $38.0M $34.1M
Gross profit $9.2M $6.9M $10.7M $7.9M $12.8M $13.6M $12.1M $9.7M $11.4M $7.0M
Net income -$5.0M -$18.4M -$10.3M -$16.1M -$10.2M -$16.4M -$20.1M -$15.5M -$13.2M -$15.8M

Recent filings and events

  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Delisting notice Item 3.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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