Consumer Defensive · Beverages - Non-Alcoholic
Price
$1.25
Market Cap
$11.7M
Employees
24
Beta
0.19
Avg Volume
27,338
CEO
Yumin Dai
Business Description
Reed's, Inc. (symbol: REED) operates as a manufacturer and distributor of premium, all-natural handcrafted beverages. These artisanal concoctions, part of the craft specialty foods sector, are available across a wide geographical footprint, spanning the United States, Canada, Asia, Europe, Australia, and South America. The company's product line features Reed's craft ginger beers, genuine ginger ales, and ready-to-drink selections, alongside Virgil's artisanal sodas, ginger candy, and a broader array of ginger-infused drinks, all primarily marketed under the Reed's brand. Reed's offerings reach consumers through a diverse sales network, including natural and gourmet food establishments, major grocery retailers, mass merchants, club stores, convenience and drug stores, liquor stores, institutional cafeterias, and on-premise dining and bar venues. Distribution is facilitated via third-party distributors, independent partners, and direct-to-store channels. Beyond its core distribution, the company also engages in significant international exports to specific markets such as France, the United Kingdom, South Africa, various Caribbean nations, Spain, the Philippines, and Israel, as well as broader regions in Australia, Asia, Europe, and South America. Founded in 1987, the enterprise was originally incorporated as Original Beverage Corporation, later adopting the Reed's, Inc. name in 2001. Its corporate headquarters are situated in Norwalk, Connecticut.
Business History
Price Overview
Last updated: Jun 27, 2026 11:03am (just now)$1.25
+0.20 (+19.05%)
Day Range
$1.05 – $1.34
52-Week Range
$1.05 – $12.00
50-Day MA
$2.38
200-Day MA
$3.91
Volume
65,092.00
Analyst Price Targets
Low
$4.75
Consensus
$7.63
High
$10.50
(2 analysts)
Share Structure
Outstanding
9,365,575.00
Float
3,693,838.00
Free Float
39.4%
Moderate free float
— 39.4% of shares trade freely, ~60.6% held by insiders/institutions
Reasonable but insiders still hold a significant stake. This can be positive (skin in the game) but may limit liquidity during sell-offs.
Small absolute float (3.7M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.65
Stock Price: $1.25
EPS (Diluted): -1.91
EPS (Diluted): -1.91
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.91
Stock Price: $1.25
Total Equity: $9.15M
Shares: 8,301,904
Total Equity: $9.15M
Shares: 8,301,904
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-0.90
Market Cap: $11.71M
Total Debt: $9.18M
Cash: $10.42M
EBITDA: -$14.57M
Total Debt: $9.18M
Cash: $10.42M
EBITDA: -$14.57M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$17.0M
Market Cap: $11.71M
Total Debt: $9.18M
Cash: $10.42M
Total Debt: $9.18M
Cash: $10.42M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.51
Stock Price: $1.25
Revenue: $34.07M
Shares: 8,301,904
Revenue: $34.07M
Shares: 8,301,904
EV/Sales (Total value vs revenue — works when P/E can't)
API0.50
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
20.4%
Gross Profit: $6.96M
Revenue: $34.07M
Revenue: $34.07M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-44.5%
Operating Income: -$15.15M
Revenue: $34.07M
Revenue: $34.07M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-46.5%
Net Income: -$15.85M
Revenue: $34.07M
Revenue: $34.07M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-496.5%
Net Income: -$15.85M
Total Equity: $9.15M
Total Equity: $9.15M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-154.1%
Operating Income: -$15.15M
Tax Rate: 0.0%
Equity: $9.15M
Total Debt: $9.18M
Cash: $10.42M
Tax Rate: 0.0%
Equity: $9.15M
Total Debt: $9.18M
Cash: $10.42M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.60
Current Assets: $21.46M
Current Liabilities: $13.39M
Current Liabilities: $13.39M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
1.00
Short-Term Debt: $9.18M
Long-Term Debt: $0.00
Total Debt: $9.18M
Total Equity: $9.15M
Long-Term Debt: $0.00
Total Debt: $9.18M
Total Equity: $9.15M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$4.10
Revenue: $34.07M
Shares: 8,301,904
Shares: 8,301,904
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.10
Total Equity: $9.15M
Shares: 8,301,904
Shares: 8,301,904
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.09
Operating CF: -$17.04M
CapEx: -$278,000
Shares: 8,301,904
CapEx: -$278,000
Shares: 8,301,904
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.25
Stock Price: $1.25
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$15.85M
Net Income: -$15.85M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares REED against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 12:13am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $49.6M | $53.0M | $44.7M | $38.0M | $34.1M |
| Cost of Revenue | $36.0M | $40.9M | $35.0M | $26.6M | $27.1M |
| Gross Profit | $13.6M | $12.1M | $9.7M | $11.4M | $7.0M |
| Operating Expenses | $29.6M | $26.1M | $19.1M | $19.5M | $22.1M |
| Operating Income | -$16.0M | -$14.8M | -$9.4M | -$8.1M | -$15.1M |
| Net Income | -$16.4M | -$20.1M | -$15.5M | -$13.2M | -$15.8M |
| EBITDA | -$15.0M | -$14.6M | -$9.3M | -$7.4M | -$14.6M |
| EPS | $-9.65 | $-9.52 | $-4.39 | $-1.64 | $-1.91 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 12:13am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $49,000 | $533,000 | $603,000 | $10.4M | $10.4M |
| Total Current Assets | $24.7M | $24.1M | $17.8M | $23.3M | $21.5M |
| Total Assets | $26.3M | $25.5M | $18.9M | $25.1M | $23.3M |
| Current Liabilities | $21.7M | $25.7M | $27.2M | $17.7M | $13.4M |
| Long-Term Debt | $0 | $8.1M | $10.9M | $0 | $0 |
| Total Liabilities | $22.1M | $34.0M | $38.1M | $18.5M | $14.2M |
| Total Equity | $4.2M | -$8.5M | -$19.2M | $6.6M | $9.2M |
| Retained Earnings | -$103.1M | -$123.2M | -$138.7M | -$151.9M | -$167.7M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 12:13am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$17.6M | -$15.4M | -$4.3M | -$6.1M | -$17.0M |
| Capital Expenditure | $-335,000 | $-2,000 | $-88,000 | $-152,000 | $-278,000 |
| Free Cash Flow | -$17.9M | -$15.4M | -$4.4M | -$6.3M | -$17.3M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $-15,000 | $-2,000 | $-1,000 | $0 | $0 |
| Net Change in Cash | $-546,000 | $484,000 | $70,000 | $9.8M | $33,000 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 9:09pm (13h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$36.9M $36.9M – $36.9M
|
$34.6M $34.6M – $34.6M
|
$32.2M $32.2M – $32.2M
|
$37.0M $37.0M – $37.0M
|
| EBITDA |
-$10.4M -$10.4M – -$10.4M
|
-$9.7M -$9.7M – -$9.7M
|
-$9.1M -$9.1M – -$9.1M
|
-$10.4M -$10.4M – -$10.4M
|
| Net Income |
-$63.8M -$63.8M – -$63.8M
|
-$15.6M -$15.6M – -$15.6M
|
-$12.6M -$12.6M – -$12.6M
|
-$5.7M -$5.7M – -$5.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 12:13am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +6.9% | -15.7% | -15.1% | -10.2% |
| Gross Profit Growth | -10.9% | -19.8% | +17.1% | -38.8% |
| Operating Income Growth | +7.1% | +36.5% | +13.8% | -86.6% |
| Net Income Growth | -22.3% | +22.6% | +15.3% | -20.5% |
| EBITDA Growth | +2.3% | +36.5% | +20.5% | -97.6% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-04-27 | Warshall Damian Francis | 0.00 | $0.00 | $0 | |
| 2026-01-05 | COHANE NEAL | 0.00 | $0.00 | $0 | |
| 2025-11-03 | Johnson Keith William | 0.00 | $0.00 | $0 | |
| 2025-09-15 | Tu Michael Carl | 0.00 | $0.00 | $0 | |
| 2025-09-15 | Reejsinghani Tina Suman | 0.00 | $0.00 | $0 | |
| 2025-04-16 | Wallace Cyril Arthur | 0.00 | $0.00 | $0 | |
| 2025-06-04 | Era Regenerative Medicine Ltd | P-Purchase | 1,075,269.00 | $0.00 | $0 |
| 2025-04-14 | Bakker Rudolf Johannes Maria | 0.00 | $0.00 | $0 | |
| 2024-12-31 | Era Regenerative Medicine Ltd | 0.00 | $0.00 | $0 | |
| 2023-05-23 | Era Regenerative Medicine Ltd | 232,108.00 | $2.50 | $580,270 | |
| 2025-02-10 | McCurdy Douglas Walter | 0.00 | $0.00 | $0 | |
| 2025-01-22 | Dai Yumin | 0.00 | $0.00 | $0 | |
| 2024-12-31 | DENG Shufen | J-Other | 27,139,519.00 | $0.00 | $0 |
| 2024-11-19 | DENG Shufen | J-Other | 22,478,074.00 | $1.00 | $22.5M |
| 2024-11-14 | Union Square Park Capital Management, LLC | S-Sale | 5,988.00 | $1.13 | $6,766 |
| 2024-11-15 | Union Square Park Capital Management, LLC | S-Sale | 4,537.00 | $1.11 | $5,036 |
| 2024-10-21 | Van Sam | 0.00 | $0.00 | $0 | |
| 2024-09-10 | Bello John | C-Conversion | 200,000.00 | $1.50 | $300,000 |
| 2024-09-10 | Union Square Park Capital Management, LLC | P-Purchase | 531,205.00 | $1.50 | $796,808 |
| 2024-09-10 | DENG Shufen | P-Purchase | 3,268,795.00 | $1.50 | $4.9M |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for REED — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30