REED - Reed's GAAP EPS of -$0.99 beats by $0.33 revenue of $10.01M misses by $2.71M
2023-08-10 16:24:41 ET
- Reed's press release ( OTCQX:REED ): Q2 GAAP EPS of -$0.99 beats by $0.33 .
- Revenue of $10.01M (-27.1% Y/Y) misses by $2.71M .
- Outlook: Based on the inventory challenges faced in the first half of the year, the Company is adjusting its net sales guidance to range between $48 million and $52 million for the full year 2023. However, Reed’s continues to expect its gross margin to surpass 30% for the year, $6 million of operating expense reductions and modified EBITDA to turn profitable by the second half of 2023. The Company also continues to expect to turn cash flow positive in the second half of 2023.
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Reed's GAAP EPS of -$0.99 beats by $0.33, revenue of $10.01M misses by $2.71M