Reed's Appoints Neal Cohane as Interim CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 24 2026
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Should l Buy REED?
Reed's announced that Neal Cohane has been appointed to serve as interim CEO and member of the board of directors, effective immediately. Former CEO and board member Cyril Wallace has stepped down. The board has begun conducting a search for a permanent CEO. Most recently, Cohane was appointed by the company as chief operating officer in January. Additionally, Tina Reejsinghani has departed Reed's as chief marketing officer.
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Analyst Views on REED
Wall Street analysts forecast REED stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.790
Low
4.75
Averages
4.75
High
4.75
Current: 1.790
Low
4.75
Averages
4.75
High
4.75
About REED
Reed’s, Inc. owns a portfolio of handcrafted natural beverages that are sold in over 32,000 outlets nationwide. These outlets include the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, liquor stores, and on-premises locations including bars and restaurants. The Company provides craft beverages under the Reed’s, Virgil’s, and Flying Cauldron brand names. Reed’s portfolio includes ginger beers, ginger ales, ready-to-drink ginger mules and hard ginger ales. The Virgil's brand offers an array of flavored sodas, including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and more. These flavors are also available in five zero-sugar varieties. Flying Cauldron is a non-alcoholic butterscotch beer. Reed’s Craft Ginger Beer line includes varieties with a mix of bottles and cans, including Reed’s Original Ginger Beer, Reed’s Premium Ginger Beer, Reed’s Extra Ginger Beer, Reed’s Zero Sugar Extra Ginger Beer, and others.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Disappointing Earnings: Reed's reported a Q1 GAAP EPS of -$0.55, missing expectations by $0.38, indicating a significant decline in profitability that could undermine investor confidence.
- Revenue Decline: The company generated $7.1M in revenue for Q1, a 29.2% year-over-year decrease that fell short by $2.52M, reflecting weak market demand and inadequate sales strategies, potentially leading to future cash flow pressures.
- Widening EBITDA Loss: Reed's EBITDA for Q1 was -$6.2M, a substantial increase from -$1.7M in the prior year, highlighting challenges in cost control and operational efficiency that may impact long-term profitability.
- Increased Cash Usage: Cash used in operations for Q1 was $5.8M, slightly up from $5.4M year-over-year, indicating heightened financial pressure on the company’s operations, which could affect future investment and expansion plans.
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- Declining Financial Performance: In Q1 2026, net sales dropped to $7.1 million from $10.0 million in the prior year, representing a 29% decline, while gross margin fell from 34% to 10%, indicating significant challenges in sales and cost management.
- Inventory Management Improvements: The company has completed comprehensive physical inventory counts and implemented enhanced inventory controls designed to minimize future inventory write-off losses, aiming to improve operational efficiency and reduce financial risks.
- Sales Channel Expansion: Partnering with one of the nation's largest commission-based sales agencies has immediately expanded retail coverage with over 80 sales professionals, aimed at enhancing market presence and improving sales performance, despite multiple negative impacts on Q1 sales.
- Strategic Adjustments and Outlook: Management expects sequential improvement in net sales, gross margin, and net loss in Q2, viewing Q1 as a transitional period while emphasizing the company's commitment and actions to restore market competitiveness.
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- Executive Appointment: Reed's has announced the appointment of Damian Warshall as Chief Operating Officer, effective April 27, 2026; Warshall previously served as COO at Pittston Co-Packers, where he revitalized a large-scale beverage manufacturing facility and secured a multi-million-dollar revenue pipeline.
- Rich Operational Experience: Warshall brings extensive experience in the consumer packaged goods sector, having served as Vice President of Operations at Munk Pack, where he led nationwide retail product launches, demonstrating his capability in driving profitable growth and enhancing supply chain efficiency.
- Clear Strategic Goals: Reed's Interim CEO Neal Cohane stated that Warshall's leadership will enhance operational execution, improve cost structures, and support profitable growth, which is expected to significantly impact the company's long-term value creation.
- Future Outlook: Warshall expressed his focus on driving efficiencies across the manufacturing and logistics network, increasing throughput, and enhancing execution with partners, ensuring more consistent and scalable performance in 2026 and beyond.
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- Executive Appointment: Reed's has named Damian Warshall as Chief Operating Officer effective April 27, 2026, bringing experience from his previous role as COO at Pittston Co-Packers, which may enhance operational management.
- Background Context: Warshall previously served as Vice President of Operations at Reed's, indicating the company's confidence in his familiarity with its operational environment and processes, aiming to improve overall operational efficiency.
- Financial Performance: Reed's reported a GAAP EPS of -$0.44 for Q4 2025, missing estimates by $0.26, with revenue of $7.48 million falling short of expectations by $1.35 million, highlighting challenges in profitability and revenue growth.
- Future Outlook: The company plans to launch new products and optimize its supply chain in 2026 to target margin expansion, and Warshall's appointment may accelerate the achievement of these strategic goals.
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- Sales Improvement: Reed's Inc reported net sales of $7.5 million in Q4 2025, down from $9.7 million last year; however, the company anticipates sustained growth through enhanced distribution relationships and new product launches.
- New Product Launches: The company is set to introduce new flavors of ginger ale, including Cranberry and Blackberry, expanding into high-growth categories of non-alcoholic mixers, aimed at attracting more consumers and increasing market share.
- Enhanced Financial Flexibility: Reed's Inc completed a $10 million public offering and successfully uplisted to the New York Stock Exchange, enhancing financial flexibility and market visibility, laying the groundwork for future expansion.
- Operational Efficiency Gains: Despite a net loss of $3.8 million in Q4 2025, the company expects significant profitability improvements in 2026 through a 35% reduction in delivery and handling costs and ongoing operational enhancements.
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- Leadership Transition: Neal Cohane has stepped in as Interim CEO while continuing as COO, emphasizing a focus on operational priorities and profitable growth, although the company reported a net loss of $3.8 million, indicating challenges in stabilizing the business.
- Financial Performance: For Q4 2025, net sales were $7.5 million, down from $9.7 million year-over-year, with a gross margin of 20% and delivery costs reduced by 35% to $1.1 million, reflecting progress in cost control but highlighting the need for overall financial improvement.
- Market Expansion Plans: The company aims to penetrate under-served channels like food service and convenience stores, viewing these as
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