Reed's
REEDNYSE AmericanUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $1.26 Prior regular-session close from the quote source.
- $1.15–$1.85 Regular-session low and high so far today.
- 146.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 9 projected Projected for 2027-02-09 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $0.33–$7.41 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own REED if Reed’s and Virgil’s still have enough consumer and retailer pull to rebuild sales while restoring gross margin and cutting cash burn.
REED price history
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Investment thesis
What must happen next
Reed’s and Virgil’s retain enough differentiated consumer demand in natural, premium, and functional beverages to regain or defend retailer shelf space rather than remain in structural decline.WeakeningMateriality: High
FY2025 GAAP annual revenue was still $34.065 million, showing the brands retain some commercial distribution and sell-through. If brand pull holds, revenue can stabilize and the turnaround has a base; if it fails, no amount of cost cutting creates durable equity value.
Watch: Major retailers or distributors reduce Reed’s or Virgil’s shelf space in favor of private-label beverages or larger beverage-company brands.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual revenue was still $34.065 million, showing the brands retain some commercial distribution and sell-through.
Open source ↗The brands’ premium positioning must support price, mix, and promotional discipline sufficient to offset input, freight, and trade-spend pressure.WeakeningMateriality: High
FY2024 GAAP annual gross profit was $11.376 million on $37.954 million of revenue, implying the business has shown the ability to generate roughly 30% gross margin in a favorable period. Gross margin determines whether any sales recovery creates value or merely buys unprofitable volume.
Watch: Input-cost inflation in packaging, sweeteners, ginger, freight, or co-manufacturing forces price increases that retailers or consumers reject.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2024 GAAP annual gross profit was $11.376 million on $37.954 million of revenue, implying the business has shown the ability.
Open source ↗The small branded-beverage platform must translate any recovered volume into operating leverage instead of letting trade spend, overhead, and distribution costs absorb the gross profit.WeakeningMateriality: Medium
FY2024 GAAP annual operating loss improved to $8.116 million from $9.417 million in FY2023, showing some potential for cost control when execution improves. A brand turnaround only compounds per-share value if gross profit scales faster than operating expenses.
Watch: The company must materially increase sales staff, trade promotion, or marketing just to defend existing shelf space.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2024 GAAP annual operating loss improved to $8.116 million from $9.417 million in FY2023, showing some potential for cost control.
Open source ↗The turnaround requires working-capital discipline and operating execution strong enough to reduce cash burn before external financing becomes the main source of survival.WeakeningMateriality: Medium
Operating cash flow was less negative in FY2023 and FY2024 than in FY2022, showing the company has previously reduced cash usage. If cash burn remains high, equity owners face dilution, debt stress, or a forced restructuring even if the brands have some value.
Watch: Retailers or distributors require longer payment terms, higher allowances, or inventory support that consumes working capital.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow was less negative in FY2023 and FY2024 than in FY2022, showing the company has previously reduced cash.
Open source ↗The balance-sheet cleanup must keep creditor pressure low enough to give the brand turnaround time to work.StrengtheningMateriality: Medium
GAAP liabilities declined from $38.064 million at FY2023 year-end to $18.492 million at FY2024 year-end and $14.190 million at FY2025 year-end. Lower liabilities increase strategic flexibility, but renewed leverage or payables pressure would transfer value away from common equity.
Watch: Continued operating cash burn forces new debt, stretched payables, or highly dilutive equity issuance.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP liabilities declined from $38.064 million at FY2023 year-end to $18.492 million at FY2024 year-end and $14.190 million at FY2025.
Open source ↗
Full investment case & evidence
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Original research
Reed’s and Virgil’s retain enough differentiated consumer demand in natural, premium, and functional beverages to regain or defend retailer shelf space rather than remain in structural decline. If brand pull holds, revenue can stabilize and the turnaround has a base; if it fails, no amount of cost cutting creates durable equity value.
The brands’ premium positioning must support price, mix, and promotional discipline sufficient to offset input, freight, and trade-spend pressure. Gross margin determines whether any sales recovery creates value or merely buys unprofitable volume.
The small branded-beverage platform must translate any recovered volume into operating leverage instead of letting trade spend, overhead, and distribution costs absorb the gross profit. A brand turnaround only compounds per-share value if gross profit scales faster than operating expenses.
The turnaround requires working-capital discipline and operating execution strong enough to reduce cash burn before external financing becomes the main source of survival. If cash burn remains high, equity owners face dilution, debt stress, or a forced restructuring even if the brands have some value.
The balance-sheet cleanup must keep creditor pressure low enough to give the brand turnaround time to work. Lower liabilities increase strategic flexibility, but renewed leverage or payables pressure would transfer value away from common equity.
All standing thesis claims
Original report summary
Reed’s and Virgil’s still have enough consumer and retailer pull to rebuild sales while restoring gross margin and cutting cash burn.
Bull case and bear case
Bull case and bear case for Reed'S
Where the evidence on Reed'S disagrees: Mixed on the latest evidence (Nov 8, 2026). Of its 5 thesis points, 1 strengthening and 4 weakening.
Bull case: what the evidence supports
The balance-sheet cleanup must keep creditor pressure low enough to give the brand turnaround time to work.
Bear case: what the evidence questions
Reed’s and Virgil’s retain enough differentiated consumer demand in natural, premium, and functional beverages to regain or defend retailer shelf space rather than remain in structural decline.
The brands’ premium positioning must support price, mix, and promotional discipline sufficient to offset input, freight, and trade-spend pressure.
The small branded-beverage platform must translate any recovered volume into operating leverage instead of letting trade spend, overhead, and distribution costs absorb the gross profit.
The turnaround requires working-capital discipline and operating execution strong enough to reduce cash burn before external financing becomes the main source of survival.
Thesis-Break Engine
Thesis-break watch · Reed'S
No break has crossed Reed'S thesis. Its break conditions are checked against every new filing as it lands.
Early warning
The break condition read on the trailing twelve months through Reed'S latest quarterly report, ahead of the annual figure it is written on.
- Revenue decline, trailing 12 months
Across all companies, this kind of early warning has happened 3,039 times before. Those stocks beat the market by a median of 1% over the next six months, and 32% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedEntered a material definitive agreement.
Reed'S filed an SEC 8-K on 2026-11-06: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Reed'S filed an SEC 8-K on 2026-11-03: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Reed'S filed an SEC 8-K on 2026-09-30: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Major retailers or distributors reduce Reed’s or Virgil’s shelf space in favor of private-label beverages or larger beverage-company brands.
- Input-cost inflation in packaging, sweeteners, ginger, freight, or co-manufacturing forces price increases that retailers or consumers reject.
- The company must materially increase sales staff, trade promotion, or marketing just to defend existing shelf space.
- Retailers or distributors require longer payment terms, higher allowances, or inventory support that consumes working capital.
- Continued operating cash burn forces new debt, stretched payables, or highly dilutive equity issuance.
REED news
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Financial statements
REED income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
REED: quick answers
- When does Reed'S (REED) report earnings next?
- Reed'S's next results are projected for February 9, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 10, 2026. Earnings calendar
- What is REED's short interest?
- As of October 30, 2026, 287,255 REED shares were sold short, 2.42% of its shares outstanding, up 156.8% from the count before. At the stock's average daily volume that is 1.0 day to cover. FINRA publishes the count twice a month. REED short interest history