Reed's, Inc. (REED) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the REED SEC filings page.
Reed's, Inc. (REED) reported $34.1M in revenue for fiscal year 2025, down 10.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Falling sales exposed a cost-heavy model: 2025 losses consumed cash while financing supplied nearly the entire operating shortfall.
The key earnings-quality signal is that FY2025 net loss of$15.8M nearly matched operating cash flow of-$17.0M . With free cash flow of-$17.3M and capital spending of only$272K , the cash drain came mainly from operating losses rather than heavy reinvestment.
Revenue fell
Liabilities fell
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. 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 Reed's, Inc.'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.
Reed's, Inc. held $10.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $17.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Reed's, Inc. scores 25/100 among other emerging companies.
Reed's, Inc. had 12M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Reed's, Inc. scores 16/100 among other emerging companies.
Not available for Reed's, Inc., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.
Reed's, Inc. reported revenue of $34.1M in fiscal year 2025, against $38.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Reed's, Inc. scores 27/100 among other emerging companies.
Reed's, Inc.'s operations used $17.0M of cash in fiscal year 2025, against $6.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Reed's, Inc. scores 8/100 among other emerging companies.
Reed's, Inc.'s cash, cash equivalents and investments came to $10.4M at the end of fiscal year 2025, against $14.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Reed's, Inc. scores 53/100 among other emerging companies.
Reed's, Inc. scores -10.08, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $167.7M against total assets of $23.3M. 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.
Reed's, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Reed's, Inc. reported a net loss of $15.8M while operations used $17.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Reed's, Inc. reported an operating loss of $15.1M against $1.1M 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
Reed's, Inc. generated $7.5M in revenue in Q2 2026. This represents a decrease of 21.4% from the same quarter a year earlier. Against the prior quarter it is up 4.8%.
Reed's, Inc.'s EBITDA was -$4.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Reed's, Inc. reported a net loss of $4.3M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Reed's, Inc. earned -$0.36 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Reed's, Inc. held $2.4M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Reed's, Inc.'s gross margin was 23.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 15.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.1 percentage points.
Reed's, Inc.'s operating margin was -54.3% in Q2 2026, reflecting core business profitability. This is up 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 32.8 percentage points.
Reed's, Inc.'s net profit margin was -57.1% in Q2 2026, showing the share of revenue converted to profit. This is up 6.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 33.5 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
REED Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5M-21.4% | $7.1M-28.8% | $7.5M-23.1% | $7.0M+4.2% | $9.5M-19.8% | $10.0M+4.5% | $9.7M-16.8% | $6.8M-43.0% |
| Cost of Revenue | $5.6M-21.1% | $5.7M-12.5% | $5.8M-11.9% | $5.7M+2.9% | $7.1M-11.6% | $6.5M+5.6% | $6.5M-19.3% | $5.5M-29.2% |
| Gross Profit | $1.8M+121.7% | $697K-79.5% | $1.5M-47.6% | $1.2M+0.7% | $807K-78.9% | $3.4M-0.3% | $2.9M+518.0% | $1.2M-69.9% |
| SG&A Expenses | $4.7M-5.6% | $5.8M+64.7% | $3.8M-21.0% | $4.2M+37.5% | $5.0M+63.4% | $3.5M+37.3% | $4.8M+60.7% | $3.1M+35.5% |
| Operating Income | -$4.1Mn/m | -$6.2Mn/m | -$3.5Mn/m | -$4.1Mn/m | -$5.8Mn/m | -$1.7Mn/m | -$3.7Mn/m | -$3.1Mn/m |
| EBITDA | -$4.0Mn/m | -$6.2Mn/m | N/A | N/A | -$5.7M | -$1.7Mn/m | N/A | -$3.1M |
| Interest Expense | $204K-32.2% | $204K-29.4% | $244K-73.0% | $274K-88.6% | $301K-73.8% | $289K-71.7% | $903K-45.2% | $2.4M+86.0% |
| Net Income | -$4.3Mn/m | -$6.5Mn/m | -$3.8Mn/m | -$4.0Mn/m | -$6.0Mn/m | -$2.0Mn/m | -$4.1Mn/m | -$4.2Mn/m |
| EPS (Basic) | -$0.36 | -$0.55 | -$0.37 | -$0.48 | -$0.78 | -$0.27 | N/A | -$4.91 |
| EPS (Diluted) | -$0.36 | -$0.55 | -$0.37 | -$0.48 | -$0.78 | -$0.27 | N/A | -$4.91 |
| Diluted Shares (Avg) | 12M | 12M | N/A | 8M | 8M | 8M | N/A | 844,402 |
Not reported in any period shown, so not listed: R&D Expenses, Income Tax.
REED Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.4M-34.8% | $18.7M-23.8% | $23.3M-7.2% | $19.9M+32.5% | $23.7M+26.5% | $24.5M+27.4% | $25.1M+33.1% | $15.0M-39.1% |
| Current Assets | $13.7M-37.6% | $16.8M-25.7% | $21.5M-7.9% | $18.1M+28.5% | $21.9M+23.5% | $22.7M+24.7% | $23.3M+31.2% | $14.1M-40.2% |
| Cash & Equivalents | $2.4M-10.0% | $4.6M-5.8% | $10.4M+0.3% | $4.1M+1251.6% | $2.7M+721.2% | $4.9M+1448.4% | $10.4M+1623.2% | $306K-69.5% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $7.0M-46.9% | $8.0M-34.7% | $8.0M-0.8% | $10.6M+14.2% | $13.2M+28.9% | $12.3M+2.6% | $8.1M-28.2% | $9.3M-42.1% |
| Accounts Receivable | $3.1M-37.9% | $2.9M-32.7% | $2.3M-41.8% | $2.4M-12.1% | $5.0M-5.6% | $4.3M+33.2% | $4.0M+11.4% | $2.8M-47.4% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $16.9M-22.9% | $16.0M-19.4% | $14.2M-23.3% | $17.2M-53.6% | $22.0M-48.4% | $19.9M-50.3% | $18.5M-51.4% | $37.0M-1.2% |
| Current Liabilities | $16.1M-23.7% | $15.2M-20.1% | $13.4M-24.2% | $16.4M-55.8% | $21.2M-43.0% | $19.0M-24.0% | $17.7M-35.1% | $37.0M+33.6% |
| Non-Current Liabilities | $787K-3.6% | $799K-3.4% | $803K-4.1% | $805Kn/m | $816K-85.1% | $827K-94.5% | $837K-92.3% | $0-100.0% |
| Total Equity | -$1.5M-185.6% | $2.7M-42.3% | $9.2M+37.7% | $2.8Mn/m | $1.7Mn/m | $4.7Mn/m | $6.6Mn/m | -$22.0Mn/m |
| Retained Earnings | -$178.5Mn/m | -$174.2Mn/m | -$167.7Mn/m | -$163.9Mn/m | -$160.0Mn/m | -$153.9Mn/m | -$151.9Mn/m | -$147.8Mn/m |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
REED Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.2Mn/m | -$5.8Mn/m | -$3.8Mn/m | -$2.8M-367.8% | -$5.0Mn/m | -$5.4Mn/m | -$3.9Mn/m | $1.1Mn/m |
| Depreciation & Amortization | $25K-51.0% | $30K-26.8% | N/A | N/A | $51K | $41K+41.4% | N/A | $30K |
| Stock-Based Compensation | $3K-70.0% | $5K-89.4% | N/A | N/A | $10K | $47K-63.6% | N/A | N/A |
| Capital Expenditures | N/A | N/A | $81K-19.8% | $96K+317.4% | $22K+83.3% | $73K+356.3% | $101K+10000.0% | $23K |
| Free Cash Flow | N/A | N/A | -$3.9Mn/m | -$2.9M-383.1% | -$5.1Mn/m | -$5.4Mn/m | -$4.0Mn/m | $1.0M |
| Investing Cash Flow | N/A | N/A | -$81Kn/m | -$71Kn/m | -$27Kn/m | -$74Kn/m | -$109Kn/m | -$24Kn/m |
| Financing Cash Flow | N/A | N/A | $10.2M-27.6% | $4.3Mn/m | $2.9M+207.4% | -$93K-104.4% | $14.1Mn/m | -$1.0M-143.0% |
| Dividends Paid | N/A | N/A | N/A | $0 | $5K | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
REED Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.9%+15.4pp | 9.8%-24.2pp | 20.4%-9.5pp | 17.4%-0.6pp | 8.5%-23.8pp | 33.9%-1.7pp | 30.0%+25.9pp | 18.0%-16.0pp |
| Operating Margin | -54.3%+6.6pp | -87.0%-69.7pp | -46.9%-9.3pp | -58.3%-11.9pp | -60.8%-55.2pp | -17.4%-10.6pp | -37.6%+4.7pp | -46.5%-45.3pp |
| Net Margin | -57.1%+6.5pp | -90.5%-70.3pp | -50.5%-8.2pp | -56.6%+4.8pp | -63.5%-36.5pp | -20.3%-2.8pp | -42.3%+14.1pp | -61.5%-49.4pp |
| Return on Equity | N/A | -240.2%-196.7pp | -41.3%+20.6pp | -144.4% | -348.6% | -43.5% | -61.9% | N/A |
| Return on Assets | -27.7%-2.2pp | -34.6%-26.3pp | -16.2%+0.2pp | -20.0%+7.6pp | -25.5%-8.4pp | -8.3%+0.4pp | -16.4%+18.6pp | -27.6%-21.8pp |
| Current Ratio | 0.85-0.2x | 1.11-0.1x | 1.60+0.3x | 1.10+0.7x | 1.03+0.6x | 1.19+0.5x | 1.32+0.7x | 0.38-0.5x |
| Liabilities-to-Equity | N/A | 5.94+1.7x | 1.55-1.2x | 6.23 | 12.66 | 4.26 | 2.78 | N/A |
| Asset Turnover | 0.48+0.1x | 0.380.0x | 0.32-0.1x | 0.35-0.1x | 0.40-0.2x | 0.41-0.1x | 0.39-0.2x | 0.450.0x |
| FCF Margin | N/A | N/A | -52.0%-11.2pp | -41.5%-56.7pp | -53.2%-45.5pp | -54.2%-29.1pp | -40.8%-39.2pp | 15.3% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Reed's, Inc. REED | FY2025 | $34.1M | -$15.8M | -46.5% | $5.8M | 26/100 |
| JONES SODA CO JSDA | FY2025 | $25.3M | -$1.8M | -7.0% | $29.9M | — |
| EQUATOR BEVERAGE CO MOJO | FY2025 | $4.2M | $49K | 1.2% | $7.5M | — |
Where Reed's, Inc. Ranks
Frequently Asked Questions
What is Reed's, Inc.'s annual revenue?
Reed's, Inc. (REED) reported $34.1M in total revenue for fiscal year 2025. This represents a -10.2% 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 Reed's, Inc.'s revenue growing?
Reed's, Inc. (REED) revenue declined by 10.2% year-over-year, from $38.0M to $34.1M in fiscal year 2025.
Is Reed's, Inc. profitable?
No, Reed's, Inc. (REED) reported a net loss of $15.8M in fiscal year 2025, with a net profit margin of -46.5%.
What is Reed's, Inc.'s EBITDA?
Reed's, Inc. (REED) had EBITDA of -$15.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Reed's, Inc.'s gross margin?
Reed's, Inc. (REED) had a gross margin of 20.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Reed's, Inc.'s operating margin?
Reed's, Inc. (REED) had an operating margin of -44.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Reed's, Inc.'s net profit margin?
Reed's, Inc. (REED) had a net profit margin of -46.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Reed's, Inc.'s return on equity (ROE)?
Reed's, Inc. (REED) has a return on equity of -173.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Reed's, Inc.'s free cash flow?
Reed's, Inc. (REED) recorded an outflow of $17.3M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 Reed's, Inc.'s operating cash flow?
Reed's, Inc. (REED) recorded an outflow of $17.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Reed's, Inc.'s total assets?
Reed's, Inc. (REED) had $23.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Reed's, Inc.'s capital expenditures?
Reed's, Inc. (REED) invested $272K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Reed's, Inc.'s current ratio?
Reed's, Inc. (REED) had a current ratio of 1.60 as of fiscal year 2025, which is generally considered healthy.
What is Reed's, Inc.'s liabilities-to-equity ratio?
Reed's, Inc. (REED) had a liabilities-to-equity ratio of 1.55 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Reed's, Inc.'s return on assets (ROA)?
Reed's, Inc. (REED) had a return on assets of -67.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Reed's, Inc.'s P/E ratio?
Reed's, Inc. (REED) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $5.8M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Reed's, Inc.'s price-to-sales ratio?
Reed's, Inc. (REED) trades at 0.2x sales, its market capitalization divided by $29.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.8M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Reed's, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Reed's, Inc. (REED) held $10.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $17.0M over that year. Dividing the one by the other, the reported balance equals about 7 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Reed's, Inc.'s Altman Z-Score?
Reed's, Inc. (REED) has an Altman Z-Score of -10.08, 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 Reed's, Inc.'s Piotroski F-Score?
Reed's, Inc. (REED) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Reed's, Inc.'s earnings high quality?
Reed's, Inc. (REED) reported a net loss of $15.8M while operations used $17.0M 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 Reed's, Inc. cover its interest payments?
Reed's, Inc. (REED) reported an operating loss of $15.1M against $1.1M 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 Reed's, Inc.?
Reed's, Inc. (REED) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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. For Reed's, Inc. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.