Ree Automotive Financials
Ree Automotive (REE) reported $1.3M in revenue for fiscal year 2025, up 608.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Development-stage spending and financing, not sales scale, remain the dominant mechanics shaping REE Automotive’s FY2025 statements
FY2025 net loss narrowed to$55.8M from$111.8M in FY2024. Yet operating cash flow was-$68.7M versus-$69.0M , showing that the reported earnings improvement did not materially reduce cash consumption.
Revenue of
Cash fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ree Automotive's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ree Automotive's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 30/100.
Ree Automotive's revenue surged 608.7% year-over-year to $1.3M, reflecting rapid business expansion. This strong growth earns a score of 5/100.
Ree Automotive has elevated debt relative to equity (D/E of 4.66), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.
Ree Automotive's current ratio of 1.18 is below the typical benchmark, resulting in a score of 28/100. However, the company holds substantial cash reserves (112% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Ree Automotive's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Ree Automotive posts a -826.8% return on equity (ROE), meaning it loses $827 for every $100 of shareholders' equity. This results in a returns score of 16/100. This is down from -483.2% the prior year.
Ree Automotive scores -45.85, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.2M) relative to total liabilities ($31.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ree Automotive passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Ree Automotive reported a net loss of $55.8M while operations used $68.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ree Automotive reported an operating loss of $106.4M against $959K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ree Automotive generated $1.3M in revenue in fiscal year 2025. This represents an increase of 608.7% from the prior year.
Ree Automotive's EBITDA was -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.0% from the prior year.
Ree Automotive reported -$55.8M in net income in fiscal year 2025. This represents an increase of 50.1% from the prior year.
Cash & Balance Sheet
Ree Automotive recorded an outflow of $75.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 2.0% from the prior year.
Ree Automotive held $14.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Ree Automotive's ROE was -826.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 343.6 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ree Automotive invested $45.4M in research and development in fiscal year 2025. This represents a decrease of 8.1% from the prior year.
Ree Automotive invested $6.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 16.3% from the prior year.
Not reported for fiscal year 2025.
REE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.3M+608.7% | $183K-88.6% | $1.6M | $0-100.0% | $6K-98.5% | $388K-43.0% | $681K |
| Cost of Revenue | $17.6M+377.3% | $3.7M+12.6% | $3.3M+497.8% | $547K-45.0% | $995K+53.8% | $647K+32.0% | $490K |
| Gross Profit | -$16.3M-365.2% | -$3.5M-110.5% | -$1.7M-203.8% | -$547K+44.7% | -$989K-281.9% | -$259K-235.6% | $191K |
| R&D Expenses | $45.4M-8.1% | $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 | $20.0M-23.6% | $26.2M-26.4% | $35.6M-27.7% | $49.2M-81.2% | $262.1M+585.2% | $38.3M+432.9% | $7.2M |
| Operating Income | -$106.4M-34.5% | -$79.1M+34.0% | -$119.9M+6.3% | -$128.0M+75.2% | -$515.5M-657.0% | -$68.1M-385.5% | -$14.0M |
| Interest Expense | $959K+3.8% | $924K+1055.0% | $80K | $0 | N/A | N/A | N/A |
| Income Tax | -$2.0M-196.6% | $2.1M+251.7% | -$1.4M-177.8% | $1.7M+36.5% | $1.3M | $0 | $0 |
| Net Income | -$55.8M+50.1% | -$111.8M+2.1% | -$114.2M-6.3% | -$107.4M+78.7% | -$505.3M-646.3% | -$67.7M-455.3% | -$12.2M |
| EPS (Diluted) | -$1.74 | N/A | N/A | N/A | N/A | N/A | N/A |
REE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $38.2M-70.7% | $130.3M-5.5% | $137.9M-35.9% | $215.0M-26.6% | $292.9M+497.7% | $49.0M | N/A |
| Current Assets | $15.0M-81.9% | $82.5M-11.8% | $93.5M-43.6% | $165.7M-42.5% | $288.1M+501.1% | $47.9M | N/A |
| Cash & Equivalents | $14.2M-80.3% | $72.3M+75.3% | $41.2M-27.4% | $56.8M-79.4% | $275.8M+516.8% | $44.7M+61.9% | $27.6M |
| Inventory | $0-100.0% | $3.1M+564.1% | $463K | $0 | $0-100.0% | $271K | N/A |
| Accounts Receivable | $24K+118.2% | $11K-97.6% | $455K | $0 | $0-100.0% | $55K | N/A |
| Total Liabilities | $31.4M-70.7% | $107.2M+79.1% | $59.8M+51.1% | $39.6M-6.9% | $42.5M+1216.8% | $3.2M | N/A |
| Current Liabilities | $12.7M-64.9% | $36.2M+2.9% | $35.2M+75.6% | $20.0M-2.5% | $20.6M+536.4% | $3.2M | N/A |
| Total Equity | $6.8M-70.8% | $23.1M-70.4% | $78.1M-55.5% | $175.4M-29.9% | $250.4M+447.0% | $45.8M+65.8% | $27.6M |
| Retained Earnings | -$1.0B-5.9% | -$947.9M-13.4% | -$836.1M-15.8% | -$721.9M-17.5% | -$614.5M-462.8% | -$109.2M | N/A |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
REE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$68.7M+0.4% | -$69.0M+22.7% | -$89.3M+20.7% | -$112.6M-90.4% | -$59.1M-352.8% | -$13.1M-91.4% | -$6.8M |
| Capital Expenditures | $6.3M-16.3% | $7.5M+101.1% | $3.7M-66.1% | $11.1M+357.9% | $2.4M+305.9% | $595K+267.3% | $162K |
| Free Cash Flow | -$75.0M+2.0% | -$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 | -$6.2M-117.3% | $36.0M-27.5% | $49.6M+146.4% | -$106.8M-14182.8% | -$748K+66.9% | -$2.3M-1296.3% | -$162K |
| Financing Cash Flow | $16.4M-74.3% | $63.5M+165.1% | $24.0M+886.5% | $2.4M-99.2% | $291.3M+779.5% | $33.1M+57.2% | $21.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
REE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Gross Margin | -1254.7% | -1911.5% | -103.4% | N/A | -16483.3% | -66.8%-94.8pp | 28.1% |
| Operating Margin | -8204.3% | -43239.9% | -7456.0% | N/A | -8591600.0% | -17551.0% | -2059.5% |
| Net Margin | -4302.8% | -61067.8% | -7102.5% | N/A | -8422166.7% | -17451.8% | -1790.8% |
| Return on Equity | -826.8%-343.6pp | -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 | -146.2%-60.4pp | -85.8%-3.0pp | -82.8%-32.9pp | -50.0%+122.5pp | -172.5%-34.4pp | -138.2% | N/A |
| Current Ratio | 1.18-1.1x | 2.28-0.4x | 2.66-5.6x | 8.27-5.7x | 14.01-0.8x | 14.84 | N/A |
| Debt-to-Equity | 4.660.0x | 4.63+3.9x | 0.77+0.5x | 0.23+0.1x | 0.17+0.1x | 0.07 | N/A |
| FCF Margin | -5783.7% | -41812.0% | -5784.7% | N/A | -1025900.0% | -3519.9% | -1026.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Ree Automotive Ranks
Frequently Asked Questions
What is Ree Automotive's annual revenue?
Ree Automotive (REE) reported $1.3M in total revenue for fiscal year 2025. This represents a 608.7% 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 grew by 608.7% year-over-year, from $183K to $1.3M in fiscal year 2025.
Is Ree Automotive profitable?
No, Ree Automotive (REE) reported a net income of -$55.8M in fiscal year 2025.
What is Ree Automotive's EBITDA?
Ree Automotive (REE) had EBITDA of -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ree Automotive's return on equity (ROE)?
Ree Automotive (REE) has a return on equity of -826.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ree Automotive's free cash flow?
Ree Automotive (REE) recorded an outflow of $75.0M in free cash flow during fiscal year 2025. This represents a 2.0% 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) recorded an outflow of $68.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ree Automotive's total assets?
Ree Automotive (REE) had $38.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ree Automotive's capital expenditures?
Ree Automotive (REE) invested $6.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ree Automotive spend on research and development?
Ree Automotive (REE) invested $45.4M in research and development during fiscal year 2025.
What is Ree Automotive's current ratio?
Ree Automotive (REE) had a current ratio of 1.18 as of fiscal year 2025, which is considered adequate.
What is Ree Automotive's debt-to-equity ratio?
Ree Automotive (REE) had a debt-to-equity ratio of 4.66 as of fiscal year 2025, 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 -146.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ree Automotive's cash runway?
Based on fiscal year 2025 data, Ree Automotive (REE) had $14.2M in cash against an annual operating cash burn of $68.7M. This gives an estimated cash runway of approximately 2 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 Altman Z-Score?
Ree Automotive (REE) has an Altman Z-Score of -45.85, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ree Automotive's Piotroski F-Score?
Ree Automotive (REE) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $55.8M while operations used $68.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $106.4M against $959K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 15 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.