REED'S, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.1M | $38.0M | $44.7M | $53.0M | $49.6M | $41.6M | $33.8M | $38.1M |
| Cost of Revenue | $27.1M | $26.6M | $31.9M | $40.9M | $36.0M | $28.8M | $25.9M | $27.4M |
| Gross Profit | $7.0M | $11.4M | $9.7M | $12.1M | $13.6M | $12.8M | $7.9M | $10.7M |
| Gross Margin | 20.4% | 30.0% | 21.7% | 22.8% | 27.4% | 30.7% | 23.3% | 28.0% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $11.3M | $9.1M | $6.1M | $7.5M | $8.0M | $7.0M | $7.6M | $8.4M |
| Operating Income | $-15.1M | $-8.1M | $-9.4M | $-14.8M | $-16.0M | $-8.6M | $-14.9M | $-8.1M |
| Operating Margin | -44.5% | -21.4% | -21.1% | -28.0% | -32.2% | -20.7% | -43.9% | -21.3% |
| Interest Expense | $1.1M | $5.5M | $6.1M | $5.2M | $1.2M | $1.3M | $1.3M | $2.2M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | — | — | — | — | — | — | — |
| Net Income | $-15.8M | $-13.2M | $-15.5M | $-20.1M | $-16.4M | $-10.2M | $-16.1M | $-10.3M |
| Net Margin | -46.5% | -34.7% | -34.7% | -37.8% | -33.1% | -24.5% | -47.6% | -27.1% |
| EPS (Basic) | $-1.91 | $-1.64 | $-0.73 | $-1.51 | $-1.50 | $-0.03 | $-0.08 | $-0.07 |
| EPS (Diluted) | $-1.91 | $-1.64 | $-0.73 | $-1.51 | $-0.03 | $-0.03 | $-0.08 | $-0.07 |
| Shares Outstanding (Basic) | 8.3M | 8.0M | 21.2M | 13.3M | 10.9M | 517.9M | 285.6M | 154.4M |
| Shares Outstanding (Diluted) | 8.3M | 8.0M | 21.2M | 13.3M | 10.9M | 517.9M | 285.6M | 154.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |