Reed's, Inc. income statement
In fiscal 2025, Reed's, Inc. reported revenue of $34.1m, down 10.2% on the year before, operating income of −$15.1m (a -44.5% margin) and net income of −$15.8m, or −$1.91 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 20 | 25 | 30 | 37 | 43 | 46 | 42 | 38 | 38 | 34 | 42 | 50 | 53 | 45 | 38 | 34 | 29 |
| Cost of revenue | 13 | 16 | 21 | 26 | — | — | — | 31 | 27 | 26 | 29 | 36 | 41 | 32 | 27 | 27 | 24 |
| Gross profit | 6 | 7 | 9 | 11 | 13 | 12 | 9 | 7 | 11 | 8 | 13 | 14 | 12 | 10 | 11 | 7 | 5 |
| Selling and marketing | 2 | 2 | 3 | 4 | 5 | 5 | 4 | 3 | 5 | 9 | 8 | 10 | 7 | 5 | 4 | 5 | 6 |
| General and administrative | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 6 | 8 | 8 | 7 | 8 | 7 | 6 | 9 | 11 | 13 |
| Operating income | −1 | −0 | 0 | −1 | 0 | −3 | −3 | −12 | −8 | −15 | −9 | −16 | −15 | −9 | −8 | −15 | −18 |
| Interest expense | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 2 | 1 | 1 | 1 | 5 | 6 | 5 | 1 | 1 |
| Income before tax | — | — | — | −2 | −1 | — | — | — | — | — | — | — | — | — | — | — | — |
| Income tax | — | — | — | 0 | 0 | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | −1 | −1 | −1 | −2 | −1 | −4 | −5 | −18 | −10 | −16 | −10 | −16 | −20 | −16 | −13 | −16 | −19 |
| Diluted EPS | −$42.00 | −$0.09 | — | −$0.12 | −$0.06 | −$0.30 | −$111.00 | −$1.24 | −$0.41 | −$0.46 | −$0.17 | −$0.18 | −$9.07 | −$4.39 | −$9.81 | −$1.91 | −$1.78 |
| Diluted shares (average) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 1m | 8m | 10m |
| EBITDA | −0 | 0 | 1 | −0 | 1 | −2 | −2 | −11 | −8 | −15 | −9 | −16 | −15 | −9 | −8 | −15 | −18 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 10 | 10 | 10 | 7 | 7 | 7 | 7 |
| Cost of revenue | 6 | 7 | 7 | 9 | 6 | 6 | 6 | 6 |
| Gross profit | 1 | 3 | 3 | 1 | 1 | 2 | 1 | 2 |
| Selling and marketing | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 |
| General and administrative | 2 | 4 | 2 | 4 | 3 | 3 | 4 | 3 |
| Operating income | −3 | −4 | −2 | −6 | −4 | −4 | −6 | −4 |
| Interest expense | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −4 | −4 | −2 | −6 | −4 | −4 | −6 | −4 |
| Diluted EPS | −$4.91 | $2.29 | −$0.27 | −$0.78 | −$0.48 | −$0.37 | −$0.55 | −$0.36 |
| EBITDA | −3 | −4 | −2 | −6 | −4 | −3 | −6 | −4 |
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