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Reed's (REED) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Reed's (REED) Q2 2026 earnings results →
Q2 2026 Revenue down 21% year over year to $7.5M · 57¢ of every $1 of revenue lost · operating margin -54.3%
Reed's made $7.5M in Q2 2026 (-21% Y/Y). Operating margin -54.3%, net loss $4.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
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What changed this quarter
Revenue was $7.5M in Q2 2026, down 21% year over year and up 5% from the previous quarter.
Gross margin was 23.9%, up 15.4 points from Q2 2025. Operating costs exceeded revenue by $4.1M, an operating margin of -54.3%. Operating expenses fell 11% while revenue fell 21%. The fastest-growing cost line was Sales & marketing (+34%). The quarter ended with a net loss of $4.3M, narrower than the previous quarter's $6.5M loss.
Operating cash flow was −$2.2M. Non-cash charges added back $25K of depreciation and $3K of share-based compensation. Working capital and other items added $2.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $7.5M | -21% | -54.3% | −$4.3M | −$2.2M |
| Q1 2026 | 10-Q | May 13, 2026 | $7.1M | -29% | -87.0% | −$6.5M | −$5.8M |
| Q4 2025 | 10-K | Mar 25, 2026 | $7.5M | -23% | -46.9% | −$3.8M | −$3.8M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $7.0M | +4% | -58.3% | −$4.0M | −$2.8M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $9.5M | -20% | -60.8% | −$6.0M | −$5.0M |
| Q1 2025 | 10-Q | May 14, 2025 | $10.0M | +4% | -17.4% | −$2.0M | −$5.4M |
| Q4 2024 | 10-K | Mar 28, 2025 | $9.7M | -17% | -37.6% | −$4.1M | −$3.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Reed's
We are a branded beverage company offering a portfolio of natural, premium, and functional beverages under the Reed’s and Virgil’s brands. Our products are sold in over 32,000 outlets across the United States and in select international markets. We compete within the U.S. carbonated soft drink (“CSD”) market by providing alternatives that we believe are better-for-you, with a focus on real ginger, clean-label ingredients, and functional formulations. We operate an asset-light business model that relies on a network of independent co-packers and distributors. We believe this structure allows us to scale production efficiently, expand distribution, and introduce innovation without significant capital expenditures. We further believe this model positions us to respond quickly to consumer demand shifts and to enter new categories and geographies in a cost-efficient manner.
In its own words, from its 10-K, filed Mar 25, 2026.
Reed's against its Bottled & Canned Soft Drinks & Carbonated Waters peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -21% against the peers' median +17%. Operating margin: -54.3% against the peers' median 17.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| REED Reed's | Q2 2026 | $7.5M | -21% | -54.3% |
| MNST Monster Beverage | Q3 2026 | $2.6B | +17% | 28.0% |
| COKE Coca-Cola Consolidated | Q3 2026 | $2.0B | +5% | 13.7% |
| CELH Celsius Holdings | Q3 2026 | $847M | +17% | 20.3% |
| FIZZ National Beverage | Q1 FY27 | $331M | 0% | 17.7% |
| ZVIA Zevia PBC | Q3 2026 | $48.3M | +18% | -4.5% |
Source: Reed's 10-Q on SEC EDGAR · CIK 1140215 · Bottled & Canned Soft Drinks & Carbonated Waters
13F: who owns REED and who is buying
More on REED
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results