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Side-by-side financial comparison of REED'S, INC. (REED) and Xos, Inc. (XOS). Click either name above to swap in a different company.

REED'S, INC. is the larger business by last-quarter revenue ($7.5M vs $5.2M, roughly 1.4× Xos, Inc.). REED'S, INC. runs the higher net margin — -50.5% vs -186.8%, a 136.3% gap on every dollar of revenue. On growth, REED'S, INC. posted the faster year-over-year revenue change (-23.1% vs -54.5%). Over the past eight quarters, REED'S, INC.'s revenue compounded faster (-11.7% CAGR vs -35.7%).

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.

Xos, Inc. is an American manufacturer of commercial electric vehicles (EVs) and mobile EV chargers.

REED vs XOS — Head-to-Head

Bigger by revenue
REED
REED
1.4× larger
REED
$7.5M
$5.2M
XOS
Growing faster (revenue YoY)
REED
REED
+31.4% gap
REED
-23.1%
-54.5%
XOS
Higher net margin
REED
REED
136.3% more per $
REED
-50.5%
-186.8%
XOS
Faster 2-yr revenue CAGR
REED
REED
Annualised
REED
-11.7%
-35.7%
XOS

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
REED
REED
XOS
XOS
Revenue
$7.5M
$5.2M
Net Profit
$-3.8M
$-9.8M
Gross Margin
20.4%
-50.5%
Operating Margin
-46.9%
-186.6%
Net Margin
-50.5%
-186.8%
Revenue YoY
-23.1%
-54.5%
Net Profit YoY
8.2%
48.6%
EPS (diluted)
$-1.26
$-0.76

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.

Revenue
REED
REED
XOS
XOS
Q4 25
$7.5M
$5.2M
Q3 25
$7.0M
$16.5M
Q2 25
$9.5M
$18.4M
Q1 25
$10.0M
$5.9M
Q4 24
$9.7M
$11.5M
Q3 24
$6.8M
$15.8M
Q2 24
$11.9M
$15.5M
Q1 24
$9.6M
$12.6M
Net Profit
REED
REED
XOS
XOS
Q4 25
$-3.8M
$-9.8M
Q3 25
$-4.0M
$2.1M
Q2 25
$-6.0M
$-7.5M
Q1 25
$-2.0M
$-10.2M
Q4 24
$-4.1M
$-19.0M
Q3 24
$-4.2M
$-10.5M
Q2 24
$-3.2M
$-9.7M
Q1 24
$-1.7M
$-11.0M
Gross Margin
REED
REED
XOS
XOS
Q4 25
20.4%
-50.5%
Q3 25
17.4%
15.3%
Q2 25
8.5%
8.8%
Q1 25
33.9%
20.6%
Q4 24
30.0%
-32.4%
Q3 24
18.0%
18.1%
Q2 24
32.3%
13.1%
Q1 24
35.6%
22.1%
Operating Margin
REED
REED
XOS
XOS
Q4 25
-46.9%
-186.6%
Q3 25
-58.3%
-42.4%
Q2 25
-60.8%
-38.5%
Q1 25
-17.4%
-157.7%
Q4 24
-37.6%
-127.0%
Q3 24
-46.5%
-61.4%
Q2 24
-5.6%
-73.2%
Q1 24
-6.8%
-81.1%
Net Margin
REED
REED
XOS
XOS
Q4 25
-50.5%
-186.8%
Q3 25
-56.6%
12.9%
Q2 25
-63.5%
-40.8%
Q1 25
-20.3%
-173.3%
Q4 24
-42.3%
-165.4%
Q3 24
-61.5%
-66.6%
Q2 24
-27.1%
-62.2%
Q1 24
-17.4%
-87.1%
EPS (diluted)
REED
REED
XOS
XOS
Q4 25
$-1.26
$-0.76
Q3 25
$-0.48
$0.22
Q2 25
$-0.13
$-0.91
Q1 25
$-0.04
$-1.26
Q4 24
$-3.73
$-2.34
Q3 24
$-4.91
$-1.32
Q2 24
$-0.77
$-1.23
Q1 24
$-0.40
$-1.80

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
REED
REED
XOS
XOS
Cash + ST InvestmentsLiquidity on hand
$14.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$9.2M
$23.3M
Total Assets
$23.3M
$60.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
REED
REED
XOS
XOS
Q4 25
$14.0M
Q3 25
$14.1M
Q2 25
$8.8M
Q1 25
$4.8M
Q4 24
$11.0M
Q3 24
$8.4M
Q2 24
$19.7M
Q1 24
$46.2M
Stockholders' Equity
REED
REED
XOS
XOS
Q4 25
$9.2M
$23.3M
Q3 25
$2.8M
$31.1M
Q2 25
$1.7M
$18.3M
Q1 25
$4.7M
$24.8M
Q4 24
$6.6M
$33.6M
Q3 24
$-22.0M
$50.8M
Q2 24
$-23.8M
$59.2M
Q1 24
$-20.7M
$67.8M
Total Assets
REED
REED
XOS
XOS
Q4 25
$23.3M
$60.4M
Q3 25
$19.9M
$73.8M
Q2 25
$23.7M
$80.3M
Q1 25
$24.5M
$87.7M
Q4 24
$25.1M
$98.3M
Q3 24
$15.0M
$120.5M
Q2 24
$18.7M
$123.4M
Q1 24
$19.3M
$135.0M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
REED
REED
XOS
XOS
Operating Cash FlowLast quarter
$-3.8M
$2.4M
Free Cash FlowOCF − Capex
$-3.9M
FCF MarginFCF / Revenue
-52.0%
Capex IntensityCapex / Revenue
1.1%
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-17.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
REED
REED
XOS
XOS
Q4 25
$-3.8M
$2.4M
Q3 25
$-2.8M
$3.1M
Q2 25
$-5.0M
$4.6M
Q1 25
$-5.4M
$-4.8M
Q4 24
$-3.9M
$3.3M
Q3 24
$1.1M
$-11.5M
Q2 24
$-912.0K
$-26.0M
Q1 24
$-2.4M
$-14.6M
Free Cash Flow
REED
REED
XOS
XOS
Q4 25
$-3.9M
Q3 25
$-2.9M
Q2 25
$-5.1M
Q1 25
$-5.4M
Q4 24
$-4.0M
Q3 24
$1.0M
$-11.7M
Q2 24
$-924.0K
$-26.1M
Q1 24
$-2.4M
$-14.6M
FCF Margin
REED
REED
XOS
XOS
Q4 25
-52.0%
Q3 25
-41.5%
Q2 25
-53.2%
Q1 25
-54.2%
Q4 24
-40.8%
Q3 24
15.3%
-73.9%
Q2 24
-7.8%
-168.1%
Q1 24
-25.1%
-115.7%
Capex Intensity
REED
REED
XOS
XOS
Q4 25
1.1%
0.0%
Q3 25
1.4%
0.0%
Q2 25
0.2%
0.0%
Q1 25
0.7%
0.0%
Q4 24
1.0%
0.0%
Q3 24
0.3%
0.9%
Q2 24
0.1%
0.8%
Q1 24
0.2%
0.2%
Cash Conversion
REED
REED
XOS
XOS
Q4 25
Q3 25
1.45×
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.

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