Filing Flows › Reed's (REED) › Q3 2025
Reed's (REED) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Reed's (REED) reported revenue of $7.0M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -26% from the quarter before. Operating margin was -58.3%, net loss $4.0M (56.6% of revenue).
Reed's, Q3 2025: revenue $7.0M (+4% year over year), operating margin -58.3%, net loss $4.0M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0M | -26% | +4% |
| Operating profit | −$4.1M | — | — |
| Net earnings | −$4.0M | — | — |
| Operating cash flow | −$2.8M | — | — |
What changed
Revenue was $7.0M in Q3 2025, up 4% year over year and down 26% from the previous quarter.
Gross margin was 17.4%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $4.1M, an operating margin of -58.3%. Operating expenses grew 22% against revenue growth of 4%. The fastest-growing cost line was General & admin (+60%). The quarter ended with a net loss of $4.0M, narrower than the previous quarter's $6.0M loss.
Operating cash flow was −$2.8M. Non-cash charges added back $29K of depreciation and $3K of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $96K exceeded it, leaving free cash flow of −$2.9M.
Questions
What was Reed's revenue in the third quarter 2025?
Reed's (REED) reported revenue of $7.0M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -26% from the quarter before.
Was Reed's profitable in the third quarter 2025?
Operating loss was $4.1M (-58.3% of revenue) and net loss $4.0M.
Source: Reed's 10-Q on SEC EDGAR.