The newly established Reborn China will optimize franchise operations and integrate sophisticated AI features across all its stores. These AI advancements will include: While integrating AI technology, Reborn Coffee remains committed to its core values of providing exceptional specialty coffee experiences through skilled baristas serving high quality, specialty-roasted coffee. Combining human expertise and AI technology will ensure that Reborn Coffee continues to deliver unparalleled quality and service. BR ...

Q12024 Revenue Increased 35% to $1.5 Million Key Financial and Operational Highlights Signed Memorandum of Understanding ("MOU") to acquire Bbang Ssaem Bakery, one of Korea's most iconic bakery brands to upgrade footprint into the coffee and bakery sector, enhance offerings and solidify position as a premier coffee & bakery franchise in the US and South Korea. Closed a master licensing deal that will facilitate Reborn Coffee's dynamic entry into the vibrant United Arab Emirates ("UAE") market, with its firs ...

These risks and uncertainties include, among other things, risks related to our expectations regarding the impact of the coronavirus pandemic (the "COVID-19 pandemic"), including the easing of related regulations and measures as the pandemic and its related effects begin to abate or have abated, on our business, results of operations, financial condition, and future profitability and growth; our expectations regarding the impact of the evolving COVID-19 pandemic on the businesses of our customers, partners ...

This MOU is backed by significant outside investment aimed at expanding Reborn Coffee's capabilities and market reach. By bringing Bbang Ssaem Bakery under its belt, Reborn Coffee will diversify its food and beverage categories, offering customers an enhanced cafe and special bakery experience. This strategic move is poised to elevate Reborn Coffee to new heights, paving the way for future franchise opportunities across the United States. Additionally, the strong EBITDA generated by Bbang Ssaem Bakery is ex ...

BREA, Calif., June 28, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (NASDAQ:REBN), ("Reborn", or the "Company"), a California-based retailer of specialty coffee, announces its collaboration with Hagerty Garage + Social of Miami, FL, to commemorate the first-ever Hagerty Drivers Club Days, which was a threeday period of automotive events recently hosted by the Hagerty Drivers Club to celebrate its Hagerty Drivers Club (HDC) members and the company's 40th anniversary. The South Florida HDC Days event was held ...

BREA, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), ("Reborn", or the "Company"), a specialty coffee retailer based in California, announced today a master licensing deal that will facilitate Reborn Coffee's dynamic entry into the vibrant UAE market, with its first flagship location set to open in Dubai, UAE. "We are truly honored to join forces with Reborn UAE in Dubai," said Jay Kim, CEO of Reborn Coffee. "Together, we aim to elevate the coffee experience in the UAE by deliv ...

BREA, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), ("Reborn", or the "Company"), a California-based retailer of specialty coffee, today announced its official launch on Amazon. This strategic move enhances the Company's OMNI-channel approach, aiming to drive substantial revenue growth and capture a wider online customer base. A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/54886b8f-2183-4ab9-be16-5867dc30714b Accordi ...

BREA, Calif., June 11, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), ("Reborn", or the "Company"), a California-based retailer of specialty coffee, today announced its in-depth plan for opening its first flagship store in the Historic Art Museum Building in Guangzhou, China. Following the successful closure of a master franchise agreement in Guangdong Province, the company is set to establish its first flagship store, complete with a roasting and training facility, in the culturally rich Li We ...

BREA, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) ("Reborn", or the "Company"), a California-based retailer of specialty coffee, today announced that it has signed a Letter of Intent (LOI) to acquire a 55% majority stake in Derin Lezzetler, a leading artisan snack and frozen bakery producer based in Istanbul, Turkey. This strategic move marks a significant milestone in Reborn Coffee's expansion into the health-conscious food market and its plans to further penetrate the US, E ...

Revenue and Sales Performance - Reborn Coffee's total net revenues increased by 45.6% to $5.95 million in 2023 compared to $3.24 million in 2022, driven by new store openings and marketing efforts[255] - Retail store revenue accounted for 98% of total revenue, while wholesale and online revenue made up 2% in 2023[244][245] - The company introduced Pour Over Packs to hotels, increasing B2B sales[239] Costs and Expenses - Product, food and drink costs increased by 37.9% to $1.76 million in 2023, partially due to new store openings[256] - General and administrative expenses rose by 28.9% to $7.97 million in 2023, mainly due to increased occupancy and labor costs from new locations[257][258] Financial Performance and Losses - Net loss increased to $3.99 million in 2023 from $3.55 million in 2022[255] - Net cash used in operating activities was $2.79 million in 2023, primarily due to a net loss of $3.7 million[264] Expansion Plans - Reborn Coffee plans to open up to 20 company-owned retail locations by the end of 2023[236] Cash and Loan Balances - Reborn Coffee's cash balance was $676,000 as of December 31, 2023[267] - The company had an outstanding loan balance of $1.13 million with Square Capital as of December 31, 2023[268] - The company borrowed $500,000 under the EIDL Loan with an interest rate of 3.75% per annum, and monthly payments of $731 began in May 2022[270] - The company received a $10,000 grant under the EIDL program, which was recorded as income in 2020[270] - The company secured two PPP loans totaling $282,000 ($115,000 in May 2020 and $167,000 in February 2021) with an interest rate of 1.00% per annum[272] - The initial PPP loan of $115,000 was fully forgiven by December 31, 2021[272] Leasing and Tax Information - The company leases all retail locations, with rent expenses recorded on a straight-line basis over the lease term[274] - The company files income tax returns in the U.S. federal and California state jurisdictions and will be taxed at prevailing U.S. corporate rates[275] Accounting and Financial Reporting - The company has no off-balance sheet arrangements requiring disclosure under current regulations[276] - Financial statement preparation involves critical accounting estimates based on historical experience and management assumptions[277] - The company has determined that recent accounting pronouncements will not have a material impact on its financial position[278] - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk[280]