US beverage company Reed’s evaluates financing alternatives after reporting a $7.5m Q2 net sales decline and a $4m EBITDA loss.
Reed’s is assessing financing alternatives to support growth after second-quarter net sales fell 20% year-over-year to $7.5m. The company reported a $4m EBITDA loss, widening from a $5.7m loss in the same period last year.
Gross profit improved to $1.8m from $0.8m, with gross margin expanding to 24% from 8%. Debt stood at $9.2m as of June 30. Interim CEO Neal Cohane noted sequential sales improvement but emphasized the need for better execution.
The company cited reduced write-offs following portfolio rationalization, though details on financing plans remain undisclosed.