Reed's, Inc. (REED) Income Statement
REED 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsREED revenue and net income
Where REED's revenue goes
2025Each bar shows an amount and its share of revenue. REED kept −46.5% of revenue as net income.
REED profit margins
REED growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −10.2% | −13.7% | −3.9% | −2.9% |
| Gross profit | −38.8% | −16.9% | −11.4% | −5.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
REED quarterly EPS vs estimates
Reed's beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 10, 2026.
REED income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.1M | $38.0M | $44.7M | $53.0M | $49.6M | $41.6M | $33.8M | $38.1M | $37.7M | $42.5M |
| Cost of revenue | $27.1M | $26.6M | $35.0M | $40.9M | $36.0M | $28.8M | $25.9M | $27.4M | $30.8M | $33.5M |
| Gross profit | $7.0M | $11.4M | $9.7M | $12.1M | $13.6M | $12.8M | $7.9M | $10.7M | $6.9M | $9.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $16.6M | $19.4M | $18.5M | $26.4M | $29.6M | $21.4M | $22.8M | $18.8M | $12.7M | $11.8M |
| Total operating expenses | $22.1M | $19.5M | $19.1M | $26.9M | $29.6M | $21.4M | $22.8M | $18.8M | $12.7M | $11.8M |
| Operating income | −$15.1M | −$8.1M | −$9.4M | −$14.8M | −$16.0M | −$8.6M | −$14.9M | −$8.1M | −$11.7M | −$3.1M |
| Interest income | — | — | — | — | — | — | $1.3M | $2.2M | $216,000 | $2.2M |
| Interest expense | $1.1M | $5.5M | $6.1M | $5.2M | $1.2M | $1.3M | $1.3M | $2.2M | $6.6M | $1.7M |
| Income before taxes | −$15.8M | −$13.2M | −$15.5M | −$20.1M | −$16.4M | −$10.2M | −$16.1M | −$10.3M | −$18.4M | −$5.0M |
| Income taxes | — | −$5,000 | — | −$108,000 | $1.2M | $1.3M | $1.3M | −$2,000 | $6.6M | $1.7M |
| Net income | −$15.8M | −$13.2M | −$15.5M | −$20.1M | −$16.4M | −$10.2M | −$17.4M | −$10.3M | −$18.4M | −$5.0M |
| EBITDA | −$14.6M | −$7.5M | −$9.3M | −$14.7M | −$15.1M | −$8.7M | −$14.7M | −$8.0M | −$11.6M | −$2.4M |
| EPS (diluted) | −$1.36 | −$9.28 | −$10.93 | −$53.94 | −$41.83 | −$25.29 | −$134.50 | −$81.66 | −$134.68 | −$45.18 |
| Gross margin | 20.4% | 30.0% | 21.7% | 22.8% | 27.4% | 30.7% | 23.3% | 28.0% | 18.3% | 21.1% |
| Operating margin | −44.5% | −21.4% | −21.1% | −28.0% | −32.2% | −20.7% | −44.1% | −21.3% | −31.2% | −7.2% |
| Net margin | −46.5% | −34.7% | −34.7% | −37.8% | −33.1% | −24.5% | −51.4% | −27.1% | −48.7% | −11.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5M | $7.1M | $7.5M | $7.0M | $9.5M | $10.0M | $9.7M | $6.8M | $11.9M | $9.6M | $11.7M | $11.9M |
| Cost of revenue | $5.7M | $6.4M | $6.0M | $5.8M | $8.7M | $6.6M | $6.8M | $5.5M | $8.0M | $6.2M | $11.2M | $7.8M |
| Gross profit | $1.8M | $697,000 | $1.5M | $1.2M | $807,000 | $3.4M | $2.9M | $1.2M | $3.8M | $3.4M | $472,000 | $4.0M |
| Sales, general & admin | $4.7M | $5.8M | $4.9M | $4.2M | $6.6M | $3.5M | $4.8M | $4.4M | $4.5M | $2.6M | $4.8M | $2.3M |
| Total operating expenses | $5.9M | $6.9M | $5.0M | $5.3M | $6.6M | $5.1M | $6.6M | $4.4M | $4.5M | $4.1M | $16.6M | $4.2M |
| Operating income | −$4.1M | −$6.2M | −$3.5M | −$4.1M | −$5.8M | −$1.7M | −$3.7M | −$3.1M | −$669,000 | −$650,000 | −$4.9M | −$143,000 |
| Interest expense | $204,000 | $204,000 | $244,000 | $274,000 | $301,000 | $289,000 | $903,000 | $2.4M | $1.1M | $1.0M | $1.6M | $1.3M |
| Income before taxes | −$4.3M | −$6.5M | −$3.8M | −$4.0M | −$6.0M | −$2.0M | −$4.1M | −$4.2M | −$3.2M | −$1.7M | −$6.6M | −$1.4M |
| Income taxes | — | — | — | — | — | — | — | — | — | — | — | −$33,000 |
| Net income | −$4.3M | −$6.5M | −$3.8M | −$4.0M | −$6.0M | −$2.0M | −$4.1M | −$4.2M | −$3.2M | −$1.7M | −$6.6M | −$1.4M |
| EBITDA | −$4.0M | −$6.2M | −$3.5M | −$3.7M | −$5.7M | −$1.7M | −$3.1M | −$1.7M | −$2.0M | −$621,000 | — | −$110,000 |
| EPS (diluted) | −$0.36 | −$0.55 | −$0.44 | −$0.52 | −$0.13 | −$0.27 | −$0.15 | −$4.92 | −$1.85 | −$2.36 | −$1.25 | −$2.04 |
| Gross margin | 23.9% | 9.8% | 20.4% | 17.4% | 8.5% | 33.9% | 30.0% | 18.0% | 32.3% | 35.6% | 4.0% | 34.0% |
| Operating margin | −54.3% | −87.0% | −46.9% | −58.3% | −60.8% | −17.4% | −37.6% | −46.5% | −5.6% | −6.8% | −42.3% | −1.2% |
| Net margin | −57.1% | −90.5% | −50.5% | −56.6% | −63.5% | −20.3% | −42.3% | −61.5% | −27.1% | −17.4% | −56.4% | −12.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in REED's financial statements (latest annual report filed March 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
REED financial results
In fiscal year 2025 (ended December 31, 2025), Reed's reported revenue of $34.1 million, down 10.2% from the year before. It had a net loss of $15.8 million, a net profit margin of −46.5%. Diluted earnings per share came to −$1.36. Over five years revenue grew at an average rate of −3.9% a year.
See the REED stock overview for the latest quote and news, or the REED chart for price history and technical indicators.
REED income statement FAQ
What is Reed's's annual revenue?
Reed's reported total revenue of $34.1 million for fiscal year 2025, which ended on December 31, 2025. That was down 10.2% from $38.0 million the previous year.
Is Reed's profitable?
No. Reed's reported a net loss of $15.8 million in fiscal 2025, a net profit margin of −46.5%; its operating margin was −44.5%.
What is Reed's's gross margin?
Reed's's gross margin was 20.4% in fiscal 2025: for every $100 of revenue, Reed's kept $20 after the direct cost of its products and services.
How fast is Reed's growing?
Revenue grew −3.9% a year on average over the last five fiscal years, from $41.6 million to $34.1 million.
What are Reed's's earnings per share?
Reed's earned $-1.36 per diluted share in fiscal 2025, compared with $-9.28 a year earlier.
When will Reed's report its next earnings?
Reed's is expected to report results for the quarter ending September 30, 2026 on November 10, 2026.
When does Reed's's fiscal year end?
Reed's's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 25, 2026.