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Reed's (REED) Q4 2025 earnings results (fourth quarter 2025)

10-K filed Mar 25, 2026

Reed's (REED) reported revenue of $7.5M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and +6% from the quarter before. Operating margin was -46.9%, net loss $3.8M (50.5% of revenue).

Revenue$7.5M
Year over year-23%
Quarter over quarter+6%
Operating margin-46.9%
Net earnings−$3.8M

Reed's, Q4 2025: revenue $7.5M (-23% year over year), operating margin -46.9%, net loss $3.8M, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.

Q4 2025AmountQ/QY/Y
Revenue$7.5M+6%-23%
Operating profit−$3.5M——
Net earnings−$3.8M——
Operating cash flow−$3.8M——

What changed

Revenue was $7.5M in Q4 2025, down 23% year over year and up 6% from the previous quarter.

Gross margin was 20.4%, down 9.5 points from Q4 2024. Operating costs exceeded revenue by $3.5M, an operating margin of -46.9%. Operating expenses fell 23% while revenue fell 23%. The fastest-growing cost line was Sales & marketing (+21%). The quarter ended with a net loss of $3.8M, narrower than the previous quarter's $4.0M loss.

Operating cash flow was −$3.8M. Non-cash charges added back $39K of depreciation. Capital expenditures of $81K exceeded it, leaving free cash flow of −$3.9M.

Questions

What was Reed's revenue in the fourth quarter 2025?

Reed's (REED) reported revenue of $7.5M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and +6% from the quarter before.

Was Reed's profitable in the fourth quarter 2025?

Operating loss was $3.5M (-46.9% of revenue) and net loss $3.8M.

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Source: Reed's 10-K on SEC EDGAR.