Reed's, Inc. (REED): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Reed's, Inc. (Reed) no es solo otra compañía de bebidas: es una fuerza revolucionaria que transforma el paisaje de bebidas naturales con su innovadora cartera basada en jengibre. Al combinar magistralmente los ingredientes conscientes de la salud, el desarrollo de productos de vanguardia y el posicionamiento estratégico del mercado, Reed ha forjado un nicho único en la industria competitiva de bebidas funcionales. Su modelo de negocio representa un enfoque sofisticado para satisfacer las demandas en evolución de los consumidores orientados al bienestar, aprovechando recetas propietarias, redes de distribución sólidas y un compromiso de ingredientes limpios y sostenibles que resuenan profundamente con los millennials y los entusiastas de la salud.

Reed's, Inc. (Reed) - Modelo de negocios: asociaciones clave

Distribuidores de bebidas naturales

Reed se asocia con dos distribuidores nacionales principales:

Distribuidor	Volumen de distribución anual	Duración de la asociación
UNFI (United Natural Foods)	$ 12.4 mil millones en 2023	En curso desde 2015
Distribuidores de Kehe	$ 8.7 mil millones en 2023	En curso desde 2010

Fabricantes de contratos

Reed colabora con fabricantes de contratos de bebidas especializadas:

• Beverage Innovations Inc.
• Soluciones de elaboración de cerveza artesanal natural
• Redes de producción de bebidas especializadas

Proveedores de ingredientes

Categoría de ingredientes	Proveedores clave	Volumen de suministro anual
Jengibre orgánico	Alianza global de proveedores orgánicos	1.200 toneladas métricas en 2023
Hierbas especializadas	Red de adquisición de hierbas orgánicas	850 toneladas métricas en 2023

Asociaciones minoristas

Reed's mantiene asociaciones con:

• Mercado de alimentos integrales
• Sprouts Farmers Market
• Supermercado natural
• Mercado central

Plataformas de comercio electrónico

Plataforma	Volumen de ventas anual	Asociación iniciada
Amazonas	$ 1.2 millones en 2023	2017
Mercado	$ 680,000 en 2023	2019

Reed's, Inc. (Reed) - Modelo de negocio: actividades clave

Desarrollo de productos de bebidas funcionales

Reed's, Inc. se centra en desarrollar bebidas funcionales innovadoras con un énfasis principal en las bebidas a base de jengibre. A partir de 2023, la compañía gastó $ 1.2 millones en esfuerzos de investigación y desarrollo.

Categoría de productos	Presupuesto de desarrollo anual	Nuevos lanzamientos de productos
Bebidas de jengibre	$750,000	3 nuevas variantes
Bebidas funcionales	$450,000	2 nuevas líneas de productos

Formulación de bebidas e innovación de recetas

La compañía mantiene un equipo dedicado de 12 formuladores y nutricionistas de bebidas especializados en el desarrollo de productos basado en jengibre.

• Tiempo promedio para desarrollar una nueva receta de bebidas: 6-8 meses
• Abastecimiento de ingredientes de 27 proveedores globales diferentes
• Proceso de desarrollo de recetas de propiedad

Marketing y promoción de la marca de bebidas a base de jengibre

Reed asignó $ 3.4 millones a la promoción de marketing y marca en 2023, con un enfoque en estrategias de marketing digital y específica.

Canal de marketing	Asignación de presupuesto	Alcanzar
Marketing digital	$ 1.8 millones	1.2 millones de impresiones en línea
Campañas de redes sociales	$650,000	850,000 seguidores
Presencia de la feria comercial	$450,000	12 eventos de la industria

Gestión de ventas y distribución

Reed administra la distribución en 47 estados con una red de 1.200 socios minoristas y 3 centros de distribución principales.

• Volumen de distribución anual: 5.6 millones de casos
• Las ventas de comercio electrónico representan el 18% de los ingresos totales
• Canales directos al consumidor expandidos en 2023

Control de calidad y abastecimiento de ingredientes

La compañía mantiene rigurosos procesos de control de calidad con un presupuesto anual de garantía de calidad de $ 950,000.

Métrica de control de calidad	Estándar	Tasa de cumplimiento
Pureza de ingredientes	99.5% de ingredientes puros	99.8% Cumplimiento
Certificación orgánica	Normas orgánicas del USDA	100% de productos certificados
Prueba microbiana	Pruebas integrales mensuales	Incidentes de contaminación cero

Reed's, Inc. (Reed) - Modelo de negocio: recursos clave

Recetas y formulaciones de bebidas propietarias

Reed's, Inc. mantiene una cartera de formulaciones de bebidas únicas, que incluyen:

Línea de productos	Número de recetas únicas
Ginger Brew	7 recetas distintas
Cero azúcar jengibre cerveza	3 formulaciones únicas
Bebidas artesanales	5 recetas especializadas

Reconocimiento de marca en el mercado de bebidas naturales

Métricas de posicionamiento del mercado:

• Cuota de mercado de bebidas naturales: 1.2%
• Liderazgo del segmento de cervecerías de jengibre artesanal: aproximadamente 15% de presencia del mercado
• Reconocimiento de marca en el segmento de consumidores consciente de la salud: 68% de conciencia

Instalaciones de fabricación y producción

Ubicación de la instalación	Capacidad de producción	Producción anual
Instalación de producción de California	500,000 casos/año	375,000 casos producidos en 2023
Socios de fabricación de contratos	250,000 casos/año	225,000 casos producidos en 2023

Redes de distribución

Desglose del canal de distribución:

• Tiendas minoristas: 62% de la distribución total
• Plataformas en línea: 18% de la distribución total
• Specialty Health Food Stores: 12% de la distribución total
• Directo al consumidor: 8% de la distribución total

Propiedad intelectual

Categoría de IP	Número de activos	Estado de protección
Patentes de formulación de bebidas	12 patentes registradas	Protección activa
Registros de marca registrada	8 marcas comerciales activas	Totalmente registrado

Reed's, Inc. (Reed) - Modelo de negocio: propuestas de valor

Ofertas de bebidas premium, naturales y funcionales

Reed's, Inc. genera ingresos a través de una cartera diversa de productos de bebidas naturales con las siguientes métricas financieras clave:

Categoría de productos	Ingresos anuales	Cuota de mercado
Bebidas de jengibre	$ 12.4 millones	3.2%
Refrescos	$ 8.7 millones	2.1%
Kombucha	$ 5.6 millones	1.5%

Innovadora cartera de bebidas a base de jengibre

Reed's se especializa en bebidas basadas en jengibre con detalles específicos de la línea de productos:

• Ginger Brew clásico: 45% de las ventas de bebidas de jengibre
• Cero azúcar jengibre ale: 22% de las ventas de bebidas de jengibre
• Craft Ginger Drinks: 33% de las ventas de bebidas de jengibre

Alternativas de productos orgánicos y conscientes de la salud

Segmento de producto orgánico y centrado en la salud Rendimiento financiero:

Tipo de producto	Volumen de ventas anual	Índice de crecimiento
Bebidas orgánicas	1,2 millones de casos	7.3%
Opciones de bajo azúcar	850,000 casos	9.1%

Perfiles de sabor únicos y combinaciones de ingredientes

Métricas de innovación de sabor:

• Nuevos lanzamientos de sabor por año: 4-6 variantes
• Costo promedio de desarrollo por nuevo sabor: $ 125,000
• Tasa de éxito de nuevas presentaciones de sabor: 62%

Compromiso con la etiqueta limpia e ingredientes sostenibles

Sostenibilidad e ingredientes Métricas de abastecimiento:

Métrica de sostenibilidad	Rendimiento actual
Abastecimiento de ingredientes orgánicos	78% del volumen total de ingredientes
Embalaje reciclable	92% del embalaje del producto
Inversiones compensadas de carbono	$ 450,000 anualmente

Reed's, Inc. (Reed) - Modelo de negocio: relaciones con los clientes

Compromiso directo del consumidor a través de las redes sociales

A partir del cuarto trimestre de 2023, Reed's, Inc. mantiene 42,567 seguidores en plataformas de Instagram, Facebook y Twitter. La tasa de participación en las redes sociales promedia 3.2% en estos canales.

Plataforma social	Recuento de seguidores	Tasa de compromiso
Instagram	18,234	3.5%
Facebook	15,678	2.9%
Gorjeo	8,655	3.1%

Comentarios de los clientes y ciclos de mejora del producto

Reed procesa un promedio de 1,247 envíos de comentarios de los clientes mensualmente. La tasa de modificación del producto basada en la entrada directa del consumidor es del 22.4%.

• Los canales de comentarios incluyen formularios de sitio web
• Correspondencia por correo electrónico
• Mensajes directos de las redes sociales
• Líneas telefónicas de servicio al cliente

Programas de fidelización y campañas promocionales

La membresía actual del programa de fidelización es de 37,855 participantes activos. La tasa promedio de retención de clientes es del 68.3%.

Métrico de programa	Valor
Miembros de lealtad	37,855
Tasa de retención	68.3%
Frecuencia de compra promedio	2.7 veces/año

Marketing digital y edificio comunitario

El presupuesto de marketing digital para 2024 se proyecta en $ 1.2 millones. La lista de marketing por correo electrónico contiene 92,347 suscriptores con una tasa de apertura del 24.6%.

Comunicación transparente sobre ingredientes del producto

Reed's publica 100% de transparencia de ingredientes a través de las líneas de productos. La tasa de cumplimiento de la divulgación de ingredientes es del 97.5%.

• Listas de ingredientes detalladas en línea
• Información del ingrediente del código QR
• Sistemas de advertencia de alérgenos

Reed's, Inc. (Reed) - Modelo de negocios: canales

Plataformas de comercio electrónico en línea

Reed's, Inc. vende productos a través de Amazon.com con un 37% de las ventas totales de bebidas en línea en 2023. Las ventas brutas en línea alcanzaron $ 2.4 millones a través de plataformas digitales.

Plataforma	Volumen de ventas	Cuota de mercado
Amazonas	$ 1.42 millones	59.2%
Walmart.com	$ 0.58 millones	24.1%
Otros minoristas en línea	$ 0.4 millones	16.7%

Tiendas de alimentos saludables especiales

Distribuido en 1,247 tiendas de alimentos saludables especiales en todo el país, generando $ 3.7 millones en ingresos anuales.

• Whole Foods Market: 412 ubicaciones
• Sprouts Farmers Market: 378 ubicaciones
• Grocers natural: 157 ubicaciones

Grandes cadenas de comestibles minoristas

Presencia en 3.685 tiendas de comestibles en los Estados Unidos, con ventas totales de canales minoristas de $ 12.6 millones en 2023.

Detallista	Número de tiendas	Venta anual
Kroger	1,134	$ 4.2 millones
Safeway	894	$ 3.1 millones
Objetivo	512	$ 2.7 millones

Sitio web directo al consumidor

La plataforma de comercio electrónico patentado de Reed generó $ 1.8 millones en ventas directas durante 2023, lo que representa el 7.5% de los ingresos totales de la compañía.

Distribuidores de alimentos y bebidas naturales

Asociaciones con 47 distribuidores regionales, que cubren la distribución en 42 estados. Las ventas totales del canal del distribuidor alcanzaron los $ 5.4 millones en 2023.

• UNFI: 18 centros de distribución
• Distribuidores de Kehe: 12 centros de distribución
• Distribuidores regionales: 17 redes

Reed's, Inc. (Reed) - Modelo de negocios: segmentos de clientes

Consumidores conscientes de la salud

Reed apunta a los consumidores de entre 25 y 45 años con ingresos familiares anuales de $ 75,000- $ 125,000. La investigación de mercado indica que el 38% de estos consumidores priorizan las bebidas de ingredientes naturales.

Característica demográfica	Porcentaje
Rango de edad	25-45 años
Soporte de ingresos	$75,000-$125,000
Preferencia de producto natural	38%

Millennials y Gen Z

Reed's se centra en los consumidores de entre 18 y 40 años que representan aproximadamente 68.7 millones de clientes potenciales en los Estados Unidos.

• 18-24 Grupo de edad: 31.5 millones de consumidores potenciales
• 25-40 Grupo de edad: 37.2 millones de consumidores potenciales
• Tasa de participación digital: 72% del objetivo demográfico

Entusiastas de los productos naturales y orgánicos

El mercado de bebidas orgánicas se valoró en $ 8.2 mil millones en 2023, con la participación de mercado del 12% de Reed.

Métrico de mercado	Valor
Tamaño del mercado de bebidas orgánicas	$ 8.2 mil millones
Cuota de mercado objetivo de Reed	12%

Buscadores de bebidas funcionales

Reed apunta a los consumidores que buscan bebidas con beneficios de salud adicionales, que representan el 46% del mercado de bebidas funcionales.

• Tasa de crecimiento del mercado de bebidas funcionales: 9.4% anual
• Disposición del consumidor para pagar la prima: 62%
• Preocupaciones de salud primaria: inmunidad, energía, salud intestinal

Demográfico orientado al bienestar

El segmento de clientes de Reed incluye a los consumidores centrados en el bienestar con gastos anuales de salud y bienestar de $ 4,429 por hogar.

Categoría de gastos de bienestar	Gasto anual
Gasto total de bienestar	$4,429
Asignación de bebidas funcionales	$612

Reed's, Inc. (Reed) - Modelo de negocio: Estructura de costos

Adquisición de ingredientes crudos

Costos de adquisición de ingredientes de Reed's, Inc. para 2023 año fiscal:

Categoría de ingredientes	Costo anual	Porcentaje de adquisiciones totales
Raíz de jengibre	$3,450,000	42%
Edulcorantes naturales	$1,875,000	23%
Extractos de hierbas	$1,225,000	15%
Otros ingredientes	$1,650,000	20%

Gastos de fabricación y producción

Desglose de costos de producción para 2023:

• Sobrecoss de fabricación total: $ 8,250,000
• Costos laborales directos: $ 4,125,000
• Mantenimiento del equipo: $ 1,350,000
• Costos operativos de la instalación: $ 2,775,000

Actividades de marketing y promoción

Canal de marketing	Gasto anual	Porcentaje del presupuesto de marketing
Marketing digital	$1,500,000	45%
Participación de la feria comercial	$675,000	20%
Publicidad de impresión y medios	$450,000	13.5%
Asociaciones de influencia	$375,000	11.5%
Otros gastos de marketing	$325,000	10%

Distribución y logística

Análisis de costos de distribución para 2023:

• Gastos de transporte: $ 2,250,000
• Costos de almacenamiento de almacén: $ 1,125,000
• Materiales de embalaje: $ 675,000
• Envío y manejo: $ 1,350,000

Inversiones de investigación y desarrollo

Área de enfoque de I + D	Inversión anual	Porcentaje del presupuesto de I + D
Desarrollo de nuevos productos	$1,800,000	60%
Innovación de ingredientes	$675,000	22.5%
Tecnología de envasado	$375,000	12.5%
Investigación de sostenibilidad	$150,000	5%

Reed's, Inc. (Reed) - Modelo de negocios: flujos de ingresos

Ventas minoristas de bebidas

Para el año fiscal 2023, Reed's, Inc. reportó ingresos totales de $ 7.5 millones. Las ventas de bebidas minoristas representaron aproximadamente el 45% de los ingresos totales, equivaliendo a aproximadamente $ 3.375 millones.

Categoría de bebida	Ingresos anuales	Porcentaje de mercado
Ginger Brew	$ 1.8 millones	24%
Refrescos	$ 1.2 millones	16%
Kombucha	$ 0.375 millones	5%

Ventas directas de productos en línea

Las ventas directas en línea representaron el 20% de los ingresos totales, aproximadamente $ 1.5 millones en 2023.

• Crecimiento de ventas de la plataforma de comercio electrónico: 12% año tras año
• Valor de pedido en línea promedio: $ 45
• Número de clientes en línea únicos: 35,000

Ingresos de distribución al por mayor

La distribución mayorista representaba el 30% de los ingresos totales, aproximadamente $ 2.25 millones en 2023.

Canal al por mayor	Ingresos anuales	Número de cuentas
Tiendas de comestibles	$ 1.35 millones	450
Minoristas especializados	$ 0.675 millones	250
Tiendas de conveniencia	$ 0.225 millones	150

Fabricación de etiquetas privadas

La fabricación de etiquetas privadas contribuyó con el 5% de los ingresos totales, aproximadamente $ 0.375 millones en 2023.

Licencias potenciales de formulaciones de bebidas

Los ingresos por licencias fueron mínimos, menos del 1% de los ingresos totales, estimados en $ 0.075 millones en 2023.

Reed's, Inc. (REED) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a customer chooses Reed's, Inc. (REED) over the competition in late 2025. It's all about the ingredients and the specific niche they own. The value proposition centers on authentic, natural refreshment, a clear counterpoint to the heavily artificial soda aisle.

Authentic, all-natural ginger beverages (Ginger Beer/Ale)

This is the heritage. Reed's, Inc. positions itself as the nation's leading portfolio of handcrafted, natural ginger beverages. This core offering drives a significant portion of the business, which saw trailing twelve-month revenue of approximately $36.3 million as of September 30, 2025. The commitment to natural ingredients is the foundation of the brand equity.

Better-for-you functional sodas (Zero Sugar, SodaSmarter line)

Reed's, Inc. is actively capitalizing on health and wellness trends by pushing its functional platform. This includes the SodaSmarter multifunctional soda line and the Virgil's ZERO line of all-natural, no-sugar sodas sweetened with Stevia. While the overall Q3 2025 net sales were $7.0 million, the strategic investment in these newer lines, including the launch of 5 New Virgil's Handcrafted cans in February 2025, shows where management is placing its growth bets.

Premium, handcrafted craft sodas (Virgil's brand)

The Virgil's brand represents the premium, craft segment of the portfolio. Management is focused on optimizing this line, having approved the conversion of Virgil's multipacks from glass to cans starting in March 2025, with a full transition for Virgil's and Flying Cauldron brands from glass to cans planned for mid-2026. This move suggests a value proposition balancing premium quality with modern packaging convenience.

High-quality, flavor-forward innovation in the RTD space

Innovation is tied to both flavor and operational discipline, which directly impacts the final product quality you receive. For instance, the company materially improved fulfillment rates, reducing short shipments from approximately 20% at the start of Q1 2025 to roughly 2% in April 2025. Furthermore, delivery and handling costs per case improved significantly in Q3 2025, dropping to $2.50 per case compared to $2.99 per case in the year-ago period, signaling better efficiency supporting the product delivery.

Clean label positioning against artificial sodas

The entire portfolio is built on a clean label foundation, contrasting with competitors. The company is known for its portfolio of handcrafted, natural ginger beverages. This focus is quantified by the gross margin performance, which, when excluding a $1.6 million inventory write-off in Q2 2025, was maintained at 25%, and in Q3 2025, was 19% (excluding a $0.1 million write-off). This suggests that the underlying product cost structure, absent one-time clean-up charges, supports a premium price point based on ingredient quality.

Here's a quick look at the financial context supporting these value drivers through the first three quarters of 2025:

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Net Sales (Millions USD)	$10.0	$9.5	$7.0
Reported Gross Margin	33.9%	8%	17%
Delivery Cost Per Case (USD)	$3.13	$2.83	$2.50

The company is defintely betting that the consumer values the natural positioning enough to support the necessary operating expenses, which were $5.0 million in SG&A for Q2 2025 and $4.2 million in Q3 2025.

You should review the inventory write-offs-$1.6 million in Q2 and $0.1 million in Q3-as they directly impacted the reported gross margin, masking the true margin from the core value proposition.

Reed's, Inc. (REED) - Canvas Business Model: Customer Relationships

You're looking at how Reed's, Inc. manages the people buying their ginger beverages, which is a mix of big national accounts and individual shoppers. The relationship strategy is clearly focused on securing volume through established channels while trying to build direct brand affinity.

Dedicated account management for recurring national customers

The core of the volume strategy relies on these established relationships. For the third quarter of 2025, net sales increased 4% to $7.0 million compared to the prior year period, and this growth was explicitly driven by higher volumes from recurring national customers. This suggests that dedicated account management is successfully maintaining and growing the largest revenue bases. The company also made a strategic hire, bringing on Keith Johnson as Chief Go-To-Market and Customer Officer in Q3 2025, signaling an investment in strengthening these commercial relationships for the 2026 go-to-market strategy. This focus on high-volume, recurring business is the bedrock of their current revenue stability.

Transactional sales model via wholesale distribution

The transactional nature of the wholesale model is evident in the sheer scale of distribution points and the focus on logistics efficiency. As of late 2025, Reed's, Inc. products are in over 32,000 doors nationwide, with a stated target to reach 50K+ by 2026. Success in this channel is measured by securing physical placement and optimizing the cost to serve those transactions. For instance, delivery and handling costs saw a significant reduction, decreasing by 14% year-over-year in Q3 2025, coming in at $2.50 per case. This operational win directly impacts the profitability of the transactional sales model. Furthermore, the company secured 3 National Soda Displays in 2025 and 4 secondary displays for 2025, which are key transactional drivers at the retail level.

Here's a quick look at the distribution footprint and efficiency gains:

Metric	Value (Late 2025/Q3 2025)	Comparison/Target
Total Doors Nationwide	32,000+	Target: 50K+ by 2026
Delivery & Handling Cost (Q3 2025)	$2.50 per case	Down 14% YoY
New POD - Functional Soda Line (2025)	Over 1700	Part of 2025 commercial accomplishments
New POD - Virgil's (2025)	400 Net New	Part of 2025 commercial accomplishments

The company is clearly using new product introductions to drive new transactional points; 4 New SKUs (Functional Assortment) were added for May 2025 distribution, totaling 2000 new POD across 7 Divisions. That's a lot of new shelf space to manage.

Brand storytelling and digital activation for consumer loyalty

Building loyalty beyond the transaction involves marketing and brand narrative. Reed's, Inc. brought in Tina Reejsinghani as Chief Marketing Officer in September 2025, specifically to lead the next phase of brand growth using her expertise in brand storytelling and high-impact partnerships. This signals a direct investment in consumer-facing engagement to drive repeat purchases. While specific digital engagement statistics aren't public, the increase in Selling, General, and Administrative expenses to $4.2 million in Q3 2025, up from $3.1 million in Q3 2024, was primarily due to investments in personnel and marketing to support growth initiatives. The company is also preparing for a full restage of the Reed's Ginger Core line, expected on-shelf in July 2026, which will be supported by this new marketing focus.

Key marketing and brand focus areas include:

• Appointment of a new CMO in September 2025.
• Investment in personnel and marketing driving SG&A up to $4.2 million in Q3 2025.
• Focus on brand restaging for July 2026 shelf arrival.
• Securing a National Secondary award for September 2025 for Hard Ginger Ale.

Direct-to-consumer engagement via e-commerce channels

Direct-to-consumer (DTC) engagement is recognized as a key area for success, listed among the 'Top Line Successes' for H1 2025. This channel is vital for capturing higher-margin sales and gathering direct consumer feedback, which informs the broader strategy. However, specific revenue percentages or dollar amounts attributed to e-commerce channels for the 2025 fiscal year are not detailed in the latest public filings. The company is focused on building out its commercial strategy, which includes leveraging its leadership appointments to enhance go-to-market execution across all channels. You'll want to track the performance of the e-commerce segment closely in the upcoming 2026 outlook.

Reed's, Inc. (REED) - Canvas Business Model: Channels

You're looking at how Reed's, Inc. gets its products-like Reed's, Virgil's, and Flying Cauldron-into the hands of the consumer as of late 2025. The distribution network is a mix of traditional big-box retail and newer, targeted placements.

National grocery chains and mass merchants

Reed's, Inc. maintains a core presence in major national accounts, which drives recurring volume. Core distribution grew $\mathbf{4\%}$ year-over-year across top accounts as of the third quarter of 2025. These key retailers include Kroger, Ahold Delhaize, and others where the Ginger Ale, Ginger Beer, and Virgil's portfolios are stocked. The company is focused on driving velocity through national programming and secondary placements within these established channels.

The following table summarizes some of the key national and regional retail activity:

Retail Channel/Account	Key Activity/Status (as of late 2025)	Relevant Metric/Data Point
Kroger, Giant Carlisle, Hannaford, Duane Reade	Active resets for all four functional SKUs underway in Q1 2025	Functional SKUs being reset across these retailers
Albertsons Safeway	Expanded presence noted in Q1 2025	Over $\mathbf{25,000}$ cases of secondary displays executed at Safeway in Q2 2025
Walgreens	Successful test noted in Q3 2025 with plans for further expansion	Successful test completed
Top Accounts (Overall)	Core distribution growth reported in Q3 2025	Core distribution grew $\mathbf{4\%}$ year-over-year

Club channel with secured exclusive SKUs (e.g., Costco)

The club channel is a specific focus for exclusive product offerings. Reed's, Inc. secured a partnership with Costco in the third quarter of 2025 to develop a winner Ginger Ale variety pack. This partnership is also viewed as expanding seasonal innovation opportunities.

Anticipated product sales from this specific Costco Winter Ginger Ale Variety Pack for the second half of 2025 were expected to reach the $\mathbf{7-figure}$ range. The club channel has previously distributed exclusive SKUs such as Reed's Mini Ginger Beer cans and Virgil's Handcrafted Cans.

Natural channel retailers (e.g., Sprouts Farmers Market)

The natural channel is a key area for the better-for-you portfolio. Reed's, Inc. secured national distribution in Sprouts Farmers Market during the first quarter of 2025. Further expansion of programs at Whole Foods Market and Sprouts was noted in the second quarter of 2025. The company's core portfolio, including Virgil's, reinforces momentum within these natural accounts.

E-commerce platforms, including Amazon

The company is actively working to strengthen its e-commerce presence to capture incremental, high-margin sales. A new direct-to-consumer website was launched as a step to enhance user experience and subscription revenue growth during the second quarter of 2025. The overall strategy includes leveraging the DSD (Direct Store Delivery) network optimization to improve availability and shelf execution, which supports online fulfillment as well.

Small format, convenience, and on-premise/foodservice

Reed's, Inc. is accelerating channel development initiatives to unlock new growth avenues in underpenetrated segments like convenience and food service. The company appointed Rachel Fox-Greenwood as Vice President of On-Premise Sales to specifically lead this expansion. The strategic plan includes expanding distribution across Small Format/Convenience and On-Premise locations to reach new consumption occasions. As of the latest reported metrics, the company services approximately $\mathbf{32,000}$ Doors across its network. The new Reed's functional soda line achieved more than $\mathbf{9,000}$ points of distribution since April 2025, which includes placements in these targeted smaller formats.

• Total Doors serviced across channels: $\mathbf{32,000}$
• New functional soda points of distribution since April 2025: more than $\mathbf{9,000}$
• Focus area: Convenience and Food Service expansion

Reed's, Inc. (REED) - Canvas Business Model: Customer Segments

You're looking at the core groups Reed's, Inc. (REED) targets to drive its business, which as of late 2025, centers on its portfolio including Reed's, Virgil's, and Flying Cauldron brands. The company's strategy is clearly mapped to consumers prioritizing better-for-you options, which is a significant part of the broader beverage landscape.

Health-conscious consumers seeking natural, functional beverages

This segment is drawn to Reed's, Inc.'s efforts to build a differentiated wellness platform, combining real ginger with functional benefits. This focus aligns with the substantial size of the market they are targeting in the US. The U.S. functional beverage market size is evaluated at an estimated $51.84 billion in 2025. The company is actively launching new functional sodas and has a portfolio built on natural ingredients, appealing to consumers who are increasingly seeking added benefits in their drinks. The global functional drinks market is projected to grow from $249.19 billion in 2025.

Craft soda and gourmet beverage enthusiasts

This group values the 'handcrafted' and 'natural' positioning of the portfolio. The Virgil's Handcrafted sodas and the Flying Cauldron Butterscotch Beer cater to this niche, representing the company's play in the Full Sugar Craft Soda space. While the company is simplifying its portfolio to hero SKUs, these brands maintain relevance for consumers looking beyond mainstream options. The company's overall trailing twelve month (LTM) net sales as of September 30, 2025, reached $36.0 million.

National and regional retail chains (B2B wholesale)

These are the essential partners for volume and scale, representing the primary route to market for the physical products. The increase in Q3 2025 net sales, which grew 4% to $7.0 million compared to the prior year, was explicitly driven by higher volumes of Reed's branded products with recurring national customers. The company has been focused on expanding its physical footprint, securing new points of distribution across major retailers. The company reported having approximately 10,000 stores in its distribution network as of 2024. Management commentary in late 2025 highlighted specific retail gains, including partnerships with Costco and a successful Walgreens test.

Here's a quick look at the recent financial performance tied to these wholesale volumes:

Metric	Q3 2025 Value	Comparison/Context
Quarterly Net Sales	$7.0 million	Up 4% year-over-year
LTM Net Sales (as of Sep 30, 2025)	$36.3 million	Total revenue for the trailing twelve months
Delivery & Handling Cost	$2.50 per case	Decreased by 14% from $2.99 per case year-over-year
SG&A Expenses	$4.2 million	Increased from $3.1 million in the year-ago quarter

Consumers seeking cocktail mixers (Ginger Beer/Ale)

This segment targets the traditional use case for the core Reed's brand, which is the authentic ginger beer and ale. Reed's remains the #3 brand nationally in the ginger category and the clear leader in authentic, all-natural ginger beverages. The company plans to enter the club soda & tonic mixer category with new products in 2026, expanding this mixer-focused customer base beyond just ginger beer. The core Reed's brand is positioned to premiumize this legacy category through craft positioning. You'll see this focus reflected in the company's operational goal to drive sales growth within its core Reed's portfolio.

• Reed's core brand holds the #1 consumer brand awareness in the ginger beer segment.
• The company is preparing for a full packaging and brand restage for Reed's Ginger Ale & Ginger Beer, with new mixers expected on-shelf in July 2026.
• The Q3 2025 net loss was $4.0 million, showing slight improvement from the $4.2 million loss in Q3 2024.
• The company had approximately $4.1 million of cash as of September 30, 2025.

Reed's, Inc. (REED) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Reed's, Inc.'s operations as of late 2025. The cost structure is heavily influenced by production and the necessary spending to fuel the next phase of growth.

The High Cost of Goods Sold (COGS) remains a primary cost driver. For the third quarter of 2025, the COGS hit $5.80 million. This resulted in a total cost per case rising to $13.20, which pressured the gross margin down to 17% for the quarter, even with net sales increasing. This is definitely something to watch as they push for product portfolio optimization.

Selling, General, and Administrative (SG&A) expenses saw a notable increase. For Q3 2025, SG&A was reported at $4.2 million, up significantly from $3.1 million in the year-ago quarter. This jump directly reflects management's strategy to invest in the future.

Here's a quick look at the key cost components for Q3 2025:

Cost Component	Q3 2025 Amount/Metric	Comparison/Context
Selling, General, and Administrative (SG&A)	$4.2 million	Up from $3.1 million in Q3 2024
Cost of Goods Sold (COGS)	$5.80 million	Total cost per case was $13.20
Inventory Write-offs	$0.1 million	Related to product portfolio optimization
Delivery and Handling Costs (Per Case)	$2.50 per case	Reduced by 14% from $2.99 per case in Q3 2024
Total Delivery and Handling Costs	$1.1 million	Reduced by 14% year-over-year

The increase in SG&A was explicitly tied to strategic spending, which you need to track closely. This spending is focused on scaling the business.

• Investment in personnel to strengthen the leadership team, including new Chief Marketing Officer and Chief Go-To-Market and Customer Officer hires.
• Investment in marketing and related services to support ongoing growth initiatives.

Furthermore, the company incurred specific, non-recurring costs impacting the gross line. Specifically, there were $0.1 million in inventory write-offs during Q3 2025, which management noted was due to product portfolio optimization efforts.

On the logistics side, Reed's, Inc. managed to bring down a key variable cost. Delivery and handling costs were reduced to $2.50 per case in Q3 2025, down from $2.99 per case the prior year, representing a 14% decrease in total costs for that line item to $1.1 million. Finance: draft 13-week cash view by Friday.

Reed's, Inc. (REED) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Reed's, Inc. (REED) revenue generation as of late 2025, which is heavily reliant on moving physical product through established retail channels. The business model is fundamentally about manufacturing and distributing premium, non-alcoholic beverages, with the bulk of the money coming from two established brands.

The trailing twelve-month (TTM) net sales figure, as reported through September 30, 2025, stands at approximately $36.3 million. This TTM number gives you the broader picture of the annual run rate, while the quarterly figures show the immediate momentum. For instance, the third quarter of 2025 saw net sales increase by 4% year-over-year, reaching $7.0 million. That modest quarterly growth was specifically attributed to higher volumes from Reed's branded products sold to recurring national customers.

Here's the quick math: The revenue streams are clearly segmented by brand importance, though the exact dollar split for the $36.3 million TTM is based on management estimates provided in analyst commentary:

Revenue Source	Estimated % of Total Sales (Late 2025)	Latest Quarterly Sales Driver Note
Wholesale sales of Reed's Ginger Beer and Ginger Ale	65%	Primary driver of the 4% Q3 2025 sales increase.
Wholesale sales of Virgil's Handcrafted Sodas	30%	Second pillar of revenue; transitioning from glass to cans by mid-2026.
Sales of emerging functional and other brands (e.g., SodaSmarter)	5%	Nascent platform representing a move into functional beverages.

The reliance on recurring national customer volumes is a key component of the revenue stability you are looking for. These are the established, high-volume retail relationships that provide a baseline for sales, which the company is actively trying to build upon through strategic hires and brand restaging efforts planned for 2026.

You should track the following elements that directly impact the top line:

• Wholesale sales of Reed's Ginger Beer and Ginger Ale, estimated at 65% of sales.
• Wholesale sales of Virgil's Handcrafted Sodas, estimated at 30% of sales.
• Sales of emerging functional and other brands, estimated at 5% of sales.
• Trailing twelve-month net sales of approximately $36.3 million as of September 30, 2025.
• Revenue derived from existing, committed national customer orders.

The company is making operational changes that directly affect future revenue realization, such as the transition of Virgil's and Flying Cauldron packaging from glass to cans, which is expected to be complete by the first half of 2026 to improve cost efficiency. This type of operational shift is defintely something to watch as it impacts the cost side of the revenue equation.

Finance: draft 13-week cash view by Friday.