Ree Automotive Financials

REE

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Ree Automotive (REE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 8/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Ree Automotive has an operating margin of -43239.9%, meaning the company retains $-43240 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -7456.0% the prior year.

Growth

Ree Automotive's revenue declined 88.6% year-over-year, from $1.6M to $183K. This contraction results in a growth score of 0/100.

Leverage

Ree Automotive has elevated debt relative to equity (D/E of 4.63), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.

Liquidity

Ree Automotive's current ratio of 2.28 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Ree Automotive generated -$69.0M in operating cash flow, capex of $7.5M consumed most of it, leaving -$76.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Ree Automotive generates a -483.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -146.3% the prior year.

Piotroski F-Score Weak

1/9

Ree Automotive passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.62x

For every $1 of reported earnings, Ree Automotive generates $0.62 in operating cash flow (-$69.0M OCF vs -$111.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-85.6x

Ree Automotive earns $-85.6 in operating income for every $1 of interest expense (-$79.1M vs $924K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$183K

YoY-88.6%

5Y CAGR-23.1%

Ree Automotive generated $183K in revenue in fiscal year 2024. This represents a decrease of 88.6% from the prior year.

EBITDA

-$75.9M

YoY+35.4%

Ree Automotive's EBITDA was -$75.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.4% from the prior year.

Net Income

-$111.8M

YoY+2.1%

Ree Automotive reported -$111.8M in net income in fiscal year 2024. This represents an increase of 2.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$76.5M

YoY+17.7%

Ree Automotive generated -$76.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 17.7% from the prior year.

Cash & Debt

$72.3M

YoY+75.3%

5Y CAGR+21.2%

Ree Automotive held $72.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

-1911.5%

YoY-1808.1pp

5Y CAGR-1939.5pp

Ree Automotive's gross margin was -1911.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 1808.1 percentage points from the prior year.

Operating Margin

-43239.9%

YoY-35783.9pp

5Y CAGR-41180.4pp

Ree Automotive's operating margin was -43239.9% in fiscal year 2024, reflecting core business profitability. This is down 35783.9 percentage points from the prior year.

Net Margin

-61067.8%

YoY-53965.3pp

5Y CAGR-59277.0pp

Ree Automotive's net profit margin was -61067.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 53965.3 percentage points from the prior year.

Return on Equity

-483.2%

YoY-336.9pp

5Y CAGR-439.0pp

Ree Automotive's ROE was -483.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 336.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$49.5M

YoY-40.2%

5Y CAGR+47.7%

Ree Automotive invested $49.5M in research and development in fiscal year 2024. This represents a decrease of 40.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$7.5M

YoY+101.1%

5Y CAGR+115.5%

Ree Automotive invested $7.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 101.1% from the prior year.

REE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$183K-88.6%	$1.6M	$0-100.0%	$6K-98.5%	$388K-43.0%	$681K
Cost of Revenue	$3.7M+12.6%	$3.3M+497.8%	$547K-45.0%	$995K+53.8%	$647K+32.0%	$490K
Gross Profit	-$3.5M-110.5%	-$1.7M-203.8%	-$547K+44.7%	-$989K-281.9%	-$259K-235.6%	$191K
R&D Expenses	$49.5M-40.2%	$82.7M+5.7%	$78.2M-69.0%	$252.4M+753.1%	$29.6M+320.4%	$7.0M
SG&A Expenses	$26.2M-26.4%	$35.6M-27.7%	$49.2M-81.2%	$262.1M+585.2%	$38.3M+432.9%	$7.2M
Operating Income	-$79.1M+34.0%	-$119.9M+6.3%	-$128.0M+75.2%	-$515.5M-657.0%	-$68.1M-385.5%	-$14.0M
Interest Expense	$924K+1055.0%	$80K	$0	N/A	N/A	N/A
Income Tax	$2.1M+251.7%	-$1.4M-177.8%	$1.7M+36.5%	$1.3M	$0	$0
Net Income	-$111.8M+2.1%	-$114.2M-6.3%	-$107.4M+78.7%	-$505.3M-646.3%	-$67.7M-455.3%	-$12.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

REE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$130.3M-5.5%	$137.9M-35.9%	$215.0M-26.6%	$292.9M+497.7%	$49.0M	N/A
Current Assets	$82.5M-11.8%	$93.5M-43.6%	$165.7M-42.5%	$288.1M+501.1%	$47.9M	N/A
Cash & Equivalents	$72.3M+75.3%	$41.2M-27.4%	$56.8M-79.4%	$275.8M+516.8%	$44.7M+61.9%	$27.6M
Inventory	$3.1M+564.1%	$463K	$0	$0-100.0%	$271K	N/A
Accounts Receivable	$11K-97.6%	$455K	$0	$0-100.0%	$55K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$107.2M+79.1%	$59.8M+51.1%	$39.6M-6.9%	$42.5M+1216.8%	$3.2M	N/A
Current Liabilities	$36.2M+2.9%	$35.2M+75.6%	$20.0M-2.5%	$20.6M+536.4%	$3.2M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$23.1M-70.4%	$78.1M-55.5%	$175.4M-29.9%	$250.4M+447.0%	$45.8M+65.8%	$27.6M
Retained Earnings	-$947.9M-13.4%	-$836.1M-15.8%	-$721.9M-17.5%	-$614.5M-462.8%	-$109.2M	N/A

Metric	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q4'20
Total Assets	$130.3M+11.4%	$116.9M-15.2%	$137.9M-16.7%	$165.5M-23.0%	$215.0M-14.6%	$251.7M-14.1%	$292.9M+497.7%	$49.0M
Current Assets	$82.5M+10.0%	$75.0M-19.8%	$93.5M-20.6%	$117.7M-28.9%	$165.7M-25.4%	$222.2M-22.9%	$288.1M+501.1%	$47.9M
Cash & Equivalents	$72.3M+99.2%	$36.3M-12.0%	$41.2M+10.0%	$37.5M-34.0%	$56.8M-41.5%	$97.0M-64.8%	$275.8M+516.8%	$44.7M
Inventory	$3.1M+50.1%	$2.0M+342.3%	$463K	N/A	$0	N/A	$0-100.0%	$271K
Accounts Receivable	$11K	$0-100.0%	$455K	N/A	$0	N/A	$0-100.0%	$55K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$107.2M+98.3%	$54.0M-9.7%	$59.8M+66.4%	$36.0M-9.2%	$39.6M+27.3%	$31.1M-26.9%	$42.5M+1216.8%	$3.2M
Current Liabilities	$36.2M+6.4%	$34.0M-3.4%	$35.2M+92.5%	$18.3M-8.8%	$20.0M+41.3%	$14.2M-31.0%	$20.6M+536.4%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$23.1M-63.2%	$62.9M-19.5%	$78.1M-39.7%	$129.6M-26.1%	$175.4M-20.5%	$220.6M-11.9%	$250.4M+447.0%	$45.8M
Retained Earnings	-$947.9M-8.7%	-$872.1M-4.3%	-$836.1M-7.6%	-$776.8M-7.6%	-$721.9M-9.2%	-$661.2M-7.6%	-$614.5M-462.8%	-$109.2M

REE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$69.0M+22.7%	-$89.3M+20.7%	-$112.6M-90.4%	-$59.1M-352.8%	-$13.1M-91.4%	-$6.8M
Capital Expenditures	$7.5M+101.1%	$3.7M-66.1%	$11.1M+357.9%	$2.4M+305.9%	$595K+267.3%	$162K
Free Cash Flow	-$76.5M+17.7%	-$93.0M+24.8%	-$123.6M-100.9%	-$61.6M-350.7%	-$13.7M-95.4%	-$7.0M
Investing Cash Flow	$36.0M-27.5%	$49.6M+146.4%	-$106.8M-14182.8%	-$748K+66.9%	-$2.3M-1296.3%	-$162K
Financing Cash Flow	$63.5M+165.1%	$24.0M+886.5%	$2.4M-99.2%	$291.3M+779.5%	$33.1M+57.2%	$21.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

REE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	-1911.5%-1808.1pp	-103.4%	N/A	-16483.3%-16416.6pp	-66.8%-94.8pp	28.1%
Operating Margin	-43239.9%-35783.9pp	-7456.0%	N/A	-8591600.0%-8574049.0pp	-17551.0%-15491.6pp	-2059.5%
Net Margin	-61067.8%-53965.3pp	-7102.5%	N/A	-8422166.7%-8404714.9pp	-17451.8%-15661.0pp	-1790.8%
Return on Equity	-483.2%-336.9pp	-146.3%-85.0pp	-61.2%+140.6pp	-201.8%-53.9pp	-147.9%-103.7pp	-44.2%
Return on Assets	-85.8%-3.0pp	-82.8%-32.9pp	-50.0%+122.5pp	-172.5%-34.4pp	-138.2%	N/A
Current Ratio	2.28-0.4	2.66-5.6	8.27-5.7	14.01-0.8	14.84	N/A
Debt-to-Equity	4.63+3.9	0.77+0.5	0.23+0.1	0.17+0.1	0.07	N/A
FCF Margin	-41812.0%-36027.3pp	-5784.7%	N/A	-1025900.0%-1022380.1pp	-3519.9%-2493.7pp	-1026.1%

Metric	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.28+0.1	2.21-0.5	2.66-3.8	6.44-1.8	8.27-7.4	15.67+1.7	14.01-0.8	14.84
Debt-to-Equity	4.63+3.8	0.86+0.1	0.77+0.5	0.28+0.1	0.23+0.1	0.14-0.0	0.17+0.1	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Ree Automotive's annual revenue?

Ree Automotive (REE) reported $183K in total revenue for fiscal year 2024. This represents a -88.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ree Automotive's revenue growing?

Ree Automotive (REE) revenue declined by 88.6% year-over-year, from $1.6M to $183K in fiscal year 2024.

Is Ree Automotive profitable?

No, Ree Automotive (REE) reported a net income of -$111.8M in fiscal year 2024, with a net profit margin of -61067.8%.

What is Ree Automotive's EBITDA?

Ree Automotive (REE) had EBITDA of -$75.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ree Automotive's gross margin?

Ree Automotive (REE) had a gross margin of -1911.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ree Automotive's operating margin?

Ree Automotive (REE) had an operating margin of -43239.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Ree Automotive's net profit margin?

Ree Automotive (REE) had a net profit margin of -61067.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Ree Automotive's return on equity (ROE)?

Ree Automotive (REE) has a return on equity of -483.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ree Automotive's free cash flow?

Ree Automotive (REE) generated -$76.5M in free cash flow during fiscal year 2024. This represents a 17.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ree Automotive's operating cash flow?

Ree Automotive (REE) generated -$69.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ree Automotive's total assets?

Ree Automotive (REE) had $130.3M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Ree Automotive's capital expenditures?

Ree Automotive (REE) invested $7.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Ree Automotive spend on research and development?

Ree Automotive (REE) invested $49.5M in research and development during fiscal year 2024.

What is Ree Automotive's current ratio?

Ree Automotive (REE) had a current ratio of 2.28 as of fiscal year 2024, which is generally considered healthy.

What is Ree Automotive's debt-to-equity ratio?

Ree Automotive (REE) had a debt-to-equity ratio of 4.63 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ree Automotive's return on assets (ROA)?

Ree Automotive (REE) had a return on assets of -85.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ree Automotive's cash runway?

Based on fiscal year 2024 data, Ree Automotive (REE) had $72.3M in cash against an annual operating cash burn of $69.0M. This gives an estimated cash runway of approximately 13 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Ree Automotive's Piotroski F-Score?

Ree Automotive (REE) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ree Automotive's earnings high quality?

Ree Automotive (REE) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ree Automotive cover its interest payments?

Ree Automotive (REE) has an interest coverage ratio of -85.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ree Automotive?

Ree Automotive (REE) scores 8 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.