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We are a branded beverage company offering a portfolio of natural, premium, and functional beverages under the Reed s and Virgil s brands. Our products are sold in over 32,000 outlets across the United States and in select international markets.
The business is unprofitable at the operating level (-44.47% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 10.2% YoY. Margins deteriorated 23.1pp alongside, both lines moving the wrong way.
ROIC dropped from -69.07% to -136.93%, capital efficiency is deteriorating. Negative free cash flow of -$17M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$31M
▼ -10.2% YoY
Net Income (TTM)
-$20M
▼ -20.5% YoY
Op. Margin
-62.93%
▼ -23.1pp YoY
ROIC
-314.33%
▼ -67.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$18M
▼ -175.8% YoY
Op. Cash Flow (TTM)
-$18M
▼ -178.2% YoY
Net Debt
-$4M
Net Cash Position
Cash & Equiv.
$5M
5Y CAGR: -3.9%
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