REED's, INC. Form 8-K Summary
Business Context and Reporting Period
REED's, INC. (Delaware corporation) filed this Current Report on Form 8-K on August 14, 2017. The filing announces the Company's results of operations and financial condition for the fiscal second quarter of 2017.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document serves as a notification that the press release containing these figures is furnished as Exhibit 99.1. The Company utilizes Adjusted EBITDA as a supplemental non-GAAP performance measure, defined as net income plus interest expense, depreciation and amortization, stock-based compensation, financing costs, and changes in fair value of warrant liability.
Material Changes
The filing does not detail specific material changes versus the prior comparable period within the text provided. It references the issuance of a press release containing the second-quarter earnings results but does not summarize the comparative data.
Guidance, Outlook, and Management Commentary
Management stated that Adjusted EBITDA is used to assist investors in comparing performance across periods by excluding items not indicative of core operating performance. The Company noted that accounting for liabilities impacts the current quarter's results. A conference call was scheduled for 5:00 PM EDT on August 14, 2017, to discuss the results. The filing includes standard disclaimers that the information is not deemed "filed" under Section 18 of the Exchange Act and that Adjusted EBITDA has limitations, including not reflecting capital expenditures, working capital needs, or debt service requirements.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q2 2017 revenue, net income, and Adjusted EBITDA figures.
- Verify the reconciliation between GAAP net income and Adjusted EBITDA to understand the impact of warrant liability changes and other non-cash items.
- Confirm the Company's liquidity position and debt obligations, as these are not detailed in the 8-K text.
- Listen to the conference call replay for management's commentary on the "accounting required for liabilities" mentioned in the filing.