Filing Flows › Reed's (REED) › Q2 2025
Reed's (REED) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 13, 2025
Reed's (REED) reported revenue of $9.5M for the second quarter 2025 (Q2 2025), -20% from a year earlier and -5% from the quarter before. Operating margin was -60.8%, net loss $6.0M (63.5% of revenue).
Reed's, Q2 2025: revenue $9.5M (-20% year over year), operating margin -60.8%, net loss $6.0M, operating cash flow −$5.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.5M | -5% | -20% |
| Operating profit | −$5.8M | — | — |
| Net earnings | −$6.0M | — | — |
| Operating cash flow | −$5.0M | — | — |
What changed
Revenue was $9.5M in Q2 2025, down 20% year over year and down 5% from the previous quarter.
Gross margin was 8.5%, down 23.8 points from a year earlier. Operating costs exceeded revenue by $5.8M, an operating margin of -60.8%. Operating expenses grew 47% against a revenue fall of 20%. The fastest-growing cost line was General & admin (+90%). The quarter ended with a net loss of $6.0M, wider than the previous quarter's $2.0M loss.
Operating cash flow was −$5.0M. Non-cash charges added back $51K of depreciation and $10K of share-based compensation. Working capital and other items added $939K. Capital expenditures of $22K exceeded it, leaving free cash flow of −$5.1M.
Questions
What was Reed's revenue in the second quarter 2025?
Reed's (REED) reported revenue of $9.5M for the second quarter 2025 (Q2 2025), -20% from a year earlier and -5% from the quarter before.
Was Reed's profitable in the second quarter 2025?
Operating loss was $5.8M (-60.8% of revenue) and net loss $6.0M.
Source: Reed's 10-Q on SEC EDGAR.