Reeds, Inc. (REED) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
201 MERRITT 7 CORPORATE PARK, NORWALK, CT 06851 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2086 - Bottled and Canned Soft Drinks and Carbonated Waters (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 603 | 533 | 49 | 595 | 913 | 624 | |||
| Cash and cash equivalents | 603 | 533 | 49 | 595 | 913 | 624 | |||
| Receivables | 4,788 | 6,448 | 6,116 | 5,400 | 2,455 | 2,803 | |||
| Inventory, net of allowances, customer advances and progress billings | 11,300 | 16,175 | 17,049 | 11,119 | 10,508 | 7,380 | |||
| Inventory | 11,300 | 16,175 | 17,049 | 11,119 | 10,508 | 7,380 | |||
| Prepaid expense | 310 | ||||||||
| Other current assets | 7,511 | ||||||||
| Other undisclosed current assets | 1,070 | 939 | 1,181 | 1,341 | 420 | (7,380) | |||
| Total current assets: | 17,761 | 24,095 | 24,705 | 18,455 | 14,296 | 10,938 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 493 | 766 | 992 | 920 | 1,053 | 896 | |||
| Intangible assets, net (including goodwill) | 629 | 626 | 624 | 615 | 576 | 576 | |||
| Intangible assets, net (excluding goodwill) | 629 | 626 | 624 | 615 | 576 | 576 | |||
| Other undisclosed noncurrent assets | 67 | 67 | 82 | ||||||
| Total noncurrent assets: | 1,122 | 1,392 | 1,616 | 1,602 | 1,696 | 1,554 | |||
| TOTAL ASSETS: | 18,883 | 25,487 | 26,321 | 20,057 | 15,992 | 12,492 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 10,229 | 10,038 | 10,720 | 7,641 | 6,185 | 7,204 | |||
| Accounts payable | 9,133 | 9,805 | 10,434 | 6,746 | 5,539 | 5,721 | |||
| Accrued liabilities | 1,096 | 233 | 286 | 895 | 646 | 1,483 | |||
| Debt | 16,495 | 13,408 | 10,229 | 729 | 3,226 | 7,031 | |||
| Due to related parties | ✕ | ✕ | 2,025 | 614 | 557 | ||||
| Other undisclosed current liabilities | 466 | 187 | 161 | ||||||
| Total current liabilities: | 27,190 | 25,658 | 21,724 | 8,927 | 9,411 | 14,235 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 10,874 | 8,092 | 394 | 726 | 5,426 | 4,962 | |||
| Long-term debt, excluding current maturities | 10,874 | 8,092 | 171 | 4,689 | 4,161 | ||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 801 | ||
| Finance lease, liability | 555 | 737 | ✕ | ||||||
| Liabilities, other than long-term debt | 207 | ||||||||
| Operating lease, liability | 207 | 394 | ✕ | ||||||
| Other undisclosed noncurrent liabilities | (394) | 8 | 38 | ||||||
| Total noncurrent liabilities: | 10,874 | 8,299 | 394 | 726 | 5,434 | 5,000 | |||
| Total liabilities: | 38,064 | 33,957 | 22,118 | 9,653 | 14,845 | 19,235 | |||
| Equity | |||||||||
| Equity, attributable to parent | (19,181) | (8,470) | 4,203 | 10,404 | 1,147 | (6,743) | |||
| Preferred stock | 94 | 94 | 94 | 94 | 94 | 94 | |||
| Common stock | 9 | 9 | 5 | 3 | |||||
| Additional paid in capital | 119,452 | 114,635 | 107,237 | 97,031 | 77,596 | 53,591 | |||
| Accumulated deficit | (138,727) | (123,199) | (103,137) | (86,730) | (76,548) | (60,431) | |||
| Total equity: | (19,181) | (8,470) | 4,203 | 10,404 | 1,147 | (6,743) | |||
| TOTAL LIABILITIES AND EQUITY: | 18,883 | 25,487 | 26,321 | 20,057 | 15,992 | 12,492 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 44,711 | 53,041 | 49,599 | 41,615 | 33,820 | 38,102 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (31,884) | (40,929) | (36,001) | (28,849) | (25,944) | (27,424) | ||
| Other undisclosed gross profit | (3,115) | |||||||
| Gross profit: | 9,712 | 12,112 | 13,598 | 12,766 | 7,876 | 10,678 | ||
| Operating expenses | (19,129) | (26,946) | (29,569) | (21,382) | (22,732) | (18,800) | ||
| Operating loss: | (9,417) | (14,834) | (15,971) | (8,616) | (14,856) | (8,122) | ||
| Interest and debt expense | (6,106) | (5,223) | (1,201) | (1,569) | (1,286) | (2,201) | ||
| Loss from continuing operations: | (15,523) | (20,057) | (17,172) | (10,185) | (16,142) | (10,323) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (17,172) | (10,185) | (16,142) | (10,323) | |
| Net loss: | (15,523) | (20,057) | (17,172) | (10,185) | (16,142) | (10,323) | ||
| Other undisclosed net income (loss) attributable to parent | 770 | 8 | 30 | (2) | ||||
| Net loss attributable to parent: | (15,523) | (20,057) | (16,402) | (10,177) | (16,112) | (10,325) | ||
| Preferred stock dividends and other adjustments | (5) | (5) | (5) | (5) | (5) | (5) | ||
| Net loss available to common stockholders, basic: | (15,528) | (20,062) | (16,407) | (10,182) | (16,117) | (10,330) | ||
| Convertible preferred dividends | 5 | |||||||
| Net loss available to common stockholders, diluted: | (15,528) | (20,062) | (16,407) | (10,182) | (16,117) | (10,325) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (15,523) | (20,057) | (17,172) | (10,185) | (16,142) | (10,323) | ||
| Comprehensive loss, net of tax, attributable to parent: | (15,523) | (20,057) | (17,172) | (10,185) | (16,142) | (10,323) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.