Reborn Coffee Provides Third Quarter 2024 Corporate Update and Financial Results
Reborn Coffee, Inc. (REBN)
Company Research
Source: GlobeNewswire
BREA, Calif., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), a leader in the specialty coffee industry, has reported its financial and operational results for the third quarter ended September 30, 2024. Key Financial and Operational Highlights Despite higher food costs, in the nine months ending September 30, 2024, revenue was steady at $4.1 million as compared to the same period revenue in 2023.Company-operated store gross margins for nine months ended September 30, 2024, increased to 72% compared to 68% for the same period in 2023.Ended Q3'24 with 12 open locations, with 1 location in development.Q3'24 wholesale and online sales grew 432% to $140,407 from $26,401 in Q3’23. Q3 2024 and Subsequent Events Acquired a 58% stake in Bbang Ssaem Bakery, one of Korea's most iconic bakery brands with an estimated $7 million trailing twelve months revenue through November, 2024, serving as a launchpad for Reborn Coffee’s entry into the South
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News
- Reborn Coffee Announces Financing Commitments of up to $60.0 MillionGlobeNewswire
- Reborn Coffee Approved as U.S. Franchisor, Sets Stage for Expansive Growth Across U.S. MarketsGlobeNewswire
- Reborn Coffee and Finlays Unveil Limited-Edition RTD Cold Brew Line During Art Basel Miami Beach 2024 [Yahoo! Finance]Yahoo! Finance
- Reborn Coffee and Finlays Unveil Limited-Edition RTD Cold Brew Line During Art Basel Miami Beach 2024GlobeNewswire
- Reborn Coffee to Produce 4th Wave Cold Brew with New Design in Collaboration with Global Partners [Yahoo! Finance]Yahoo! Finance
REBN
Sec Filings
- 2/12/25 - Form 8-K
- 2/11/25 - Form 8-K
- 1/10/25 - Form 8-K
- REBN's page on the SEC website