# Reed's Inc. (REED)

**Exchange:** NYSE  
**Sector:** Consumer Defensive  
**Market cap:** $14M  
**Price:** $1.63 (-2.98%)

> Reed's Inc. is a U.S.-based producer of natural, handcrafted beverages, best known for being America’s leading ginger beer brand. Founded in 1987 and headquartered in Norwalk, Connecticut, the company has built a portfolio that includes Reed’s craft ginger beers, ginger ales, ready-to-drink mules, and hard ginger ales. Reed’s is also the owner of the Virgil’s brand, which offers a range of naturally flavored craft sodas and zero-sugar varieties, as well as Flying Cauldron, a non-alcoholic butterscotch beer. The company’s unique beverages are distinguished by their use of real ginger root, natural spices, and fruit juices, prepared using proprietary recipes for a premium, authentic taste. Reed’s distributes its products in more than 45,000 retail outlets across the United States, including natural food stores, grocery chains, mass merchants, convenience stores, and on-premise locations such as bars and restaurants. Its strong emphasis on natural ingredients and craft preparation has positioned Reed’s Inc. as a distinctive player in the non-alcoholic beverage sector, catering to both mainstream and specialty consumer markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $34M | $7M | -$15M | -$16M | $-1.91 |
| 2024 | $38M | $11M | -$8M | -$13M | $-9.81 |
| 2023 | $45M | $10M | -$9M | -$16M | $-4.39 |
| 2022 | $53M | $12M | -$15M | -$20M | $-9.07 |
| 2021 | $50M | $14M | -$16M | -$16M | — |
| 2020 | $42M | $13M | -$9M | -$10M | — |
| 2019 | $34M | $8M | -$15M | -$16M | — |
| 2018 | $38M | $11M | -$8M | -$10M | — |
| 2017 | $38M | $7M | -$12M | -$18M | — |
| 2016 | $42M | $9M | -$3M | -$5M | — |
| 2015 | $46M | $12M | -$3M | -$4M | — |
| 2014 | $43M | $13M | $276,000 | -$754,000 | — |
| 2013 | $37M | $11M | -$869,000 | -$2M | — |
| 2012 | $30M | $9M | $136,000 | -$524,000 | — |
| 2011 | $25M | $7M | -$250,000 | -$941,000 | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $23M | $14M | $9M | — | — |
| 2024 | $25M | $18M | $7M | — | — |
| 2023 | $19M | $38M | -$19M | — | — |
| 2022 | $25M | $34M | -$8M | — | — |
| 2021 | $26M | $22M | $4M | — | — |
| 2020 | $20M | $10M | $10M | — | — |
| 2019 | $16M | $15M | $1M | — | — |
| 2018 | $12M | $19M | -$7M | — | — |
| 2017 | $24M | $24M | $508,000 | $12M | $1M |
| 2016 | $19M | $21M | -$2M | — | $2M |
| 2015 | $20M | $19M | $785,000 | — | $3M |
| 2014 | $17M | $13M | $4M | — | $3M |
| 2013 | $15M | $11M | $3M | — | $3M |
| 2012 | $14M | $10M | $4M | — | $3M |
| 2011 | $13M | $9M | $4M | $713,000 | $3M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$17M | $272,000 | -$17M |
| 2024 | -$6M | $152,000 | -$6M |
| 2023 | -$4M | $85,000 | -$4M |
| 2022 | -$16M | — | — |
| 2021 | -$18M | $326,000 | -$18M |
| 2020 | -$9M | $122,000 | -$10M |
| 2019 | -$18M | $322,000 | -$18M |
| 2018 | -$9M | $159,000 | -$9M |
| 2017 | -$3M | $813,000 | -$4M |
| 2016 | -$3M | $410,000 | -$3M |
| 2015 | -$1M | $532,000 | -$2M |
| 2014 | $1M | $330,000 | $686,000 |
| 2013 | $1M | $602,000 | $591,000 |
| 2012 | $1M | $507,000 | $670,000 |
| 2011 | -$2M | $356,000 | -$3M |

Source: [CompaniesByCap](https://companiesbycap.com/company/REED)