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Side-by-side financial comparison of REED'S, INC. (REED) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Spero Therapeutics, Inc. is the larger business by last-quarter revenue ($12.6M vs $7.5M, roughly 1.7× REED'S, INC.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -50.5%, a 301.2% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs -23.1%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% CAGR vs -11.7%).
Waddell & Reed Financial, Inc. was an American asset management and financial planning company founded in 1937 in Kansas City, Missouri. It was a publicly traded company from 1998 to 2021, and briefly had its headquarters in Overland Park, Kansas, and was planning a move back to Downtown Kansas City before the company was sold. It operated asset management and distribution subsidiaries, including Ivy Investment Management Company and Waddell & Reed Investment Management Company.
REED vs SPRO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.5M | $12.6M |
| Net Profit | $-3.8M | $31.5M |
| Gross Margin | 20.4% | — |
| Operating Margin | -46.9% | — |
| Net Margin | -50.5% | 250.7% |
| Revenue YoY | -23.1% | 24080.8% |
| Net Profit YoY | 8.2% | 250.9% |
| EPS (diluted) | $-1.26 | $0.56 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $7.5M | $12.6M | ||
| Q3 25 | $7.0M | $0 | ||
| Q2 25 | $9.5M | $0 | ||
| Q1 25 | $10.0M | $12.0K | ||
| Q4 24 | $9.7M | $52.0K | ||
| Q3 24 | $6.8M | $65.0K | ||
| Q2 24 | $11.9M | $114.0K | ||
| Q1 24 | $9.6M | $140.0K |
| Q4 25 | $-3.8M | $31.5M | ||
| Q3 25 | $-4.0M | $-7.4M | ||
| Q2 25 | $-6.0M | $-1.7M | ||
| Q1 25 | $-2.0M | $-13.9M | ||
| Q4 24 | $-4.1M | — | ||
| Q3 24 | $-4.2M | $-17.1M | ||
| Q2 24 | $-3.2M | $-17.9M | ||
| Q1 24 | $-1.7M | $-12.7M |
| Q4 25 | 20.4% | — | ||
| Q3 25 | 17.4% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | 33.9% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 32.3% | — | ||
| Q1 24 | 35.6% | — |
| Q4 25 | -46.9% | — | ||
| Q3 25 | -58.3% | — | ||
| Q2 25 | -60.8% | — | ||
| Q1 25 | -17.4% | -122758.3% | ||
| Q4 24 | -37.6% | — | ||
| Q3 24 | -46.5% | -28604.6% | ||
| Q2 24 | -5.6% | -16720.2% | ||
| Q1 24 | -6.8% | -9987.1% |
| Q4 25 | -50.5% | 250.7% | ||
| Q3 25 | -56.6% | — | ||
| Q2 25 | -63.5% | — | ||
| Q1 25 | -20.3% | -115550.0% | ||
| Q4 24 | -42.3% | — | ||
| Q3 24 | -61.5% | -26380.0% | ||
| Q2 24 | -27.1% | -15668.4% | ||
| Q1 24 | -17.4% | -9049.3% |
| Q4 25 | $-1.26 | $0.56 | ||
| Q3 25 | $-0.48 | $-0.13 | ||
| Q2 25 | $-0.13 | $-0.03 | ||
| Q1 25 | $-0.04 | $-0.25 | ||
| Q4 24 | $-3.73 | — | ||
| Q3 24 | $-4.91 | $-0.32 | ||
| Q2 24 | $-0.77 | $-0.33 | ||
| Q1 24 | $-0.40 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $40.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.2M | $59.0M |
| Total Assets | $23.3M | $68.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | — | $31.2M | ||
| Q1 25 | — | $48.9M | ||
| Q4 24 | — | $52.9M | ||
| Q3 24 | — | $76.3M | ||
| Q2 24 | — | $63.5M | ||
| Q1 24 | — | $82.3M |
| Q4 25 | $9.2M | $59.0M | ||
| Q3 25 | $2.8M | $26.5M | ||
| Q2 25 | $1.7M | $32.8M | ||
| Q1 25 | $4.7M | $33.8M | ||
| Q4 24 | $6.6M | $46.1M | ||
| Q3 24 | $-22.0M | $65.5M | ||
| Q2 24 | $-23.8M | $80.5M | ||
| Q1 24 | $-20.7M | $96.2M |
| Q4 25 | $23.3M | $68.9M | ||
| Q3 25 | $19.9M | $54.2M | ||
| Q2 25 | $23.7M | $62.1M | ||
| Q1 25 | $24.5M | $77.7M | ||
| Q4 24 | $25.1M | $110.5M | ||
| Q3 24 | $15.0M | $135.2M | ||
| Q2 24 | $18.7M | $149.9M | ||
| Q1 24 | $19.3M | $167.7M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.8M | $-8.4M |
| Free Cash FlowOCF − Capex | $-3.9M | — |
| FCF MarginFCF / Revenue | -52.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.8M | $-8.4M | ||
| Q3 25 | $-2.8M | $17.4M | ||
| Q2 25 | $-5.0M | $-17.7M | ||
| Q1 25 | $-5.4M | $-4.0M | ||
| Q4 24 | $-3.9M | $-23.4M | ||
| Q3 24 | $1.1M | $12.8M | ||
| Q2 24 | $-912.0K | $-18.7M | ||
| Q1 24 | $-2.4M | $5.9M |
| Q4 25 | $-3.9M | — | ||
| Q3 25 | $-2.9M | — | ||
| Q2 25 | $-5.1M | — | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | $-4.0M | — | ||
| Q3 24 | $1.0M | — | ||
| Q2 24 | $-924.0K | — | ||
| Q1 24 | $-2.4M | — |
| Q4 25 | -52.0% | — | ||
| Q3 25 | -41.5% | — | ||
| Q2 25 | -53.2% | — | ||
| Q1 25 | -54.2% | — | ||
| Q4 24 | -40.8% | — | ||
| Q3 24 | 15.3% | — | ||
| Q2 24 | -7.8% | — | ||
| Q1 24 | -25.1% | — |
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | — | -0.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
