vs
Side-by-side financial comparison of REED'S, INC. (REED) and Zevia PBC (ZVIA). Click either name above to swap in a different company.
Zevia PBC is the larger business by last-quarter revenue ($37.9M vs $7.5M, roughly 5.1× REED'S, INC.). Zevia PBC runs the higher net margin — -3.4% vs -50.5%, a 47.1% gap on every dollar of revenue. On growth, Zevia PBC posted the faster year-over-year revenue change (-4.0% vs -23.1%). Over the past eight quarters, Zevia PBC's revenue compounded faster (-1.2% 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.
Zevia is a Los Angeles based company that produces soft drinks, organic tea, energy drinks, and mixers sweetened with stevia. All Zevia products are zero-calorie, sugar-free, gluten free, vegan, certified kosher, and certified by The Non-GMO Project. In June 2021, Zevia filed to go public with an IPO.
REED vs ZVIA — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $7.5M | $37.9M |
| Net Profit | $-3.8M | $-1.3M |
| Gross Margin | 20.4% | 47.7% |
| Operating Margin | -46.9% | -4.0% |
| Net Margin | -50.5% | -3.4% |
| Revenue YoY | -23.1% | -4.0% |
| Net Profit YoY | 8.2% | 80.9% |
| EPS (diluted) | $-1.26 | $-0.02 |
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 | $37.9M | ||
| Q3 25 | $7.0M | $40.8M | ||
| Q2 25 | $9.5M | $44.5M | ||
| Q1 25 | $10.0M | $38.0M | ||
| Q4 24 | $9.7M | $39.5M | ||
| Q3 24 | $6.8M | $36.4M | ||
| Q2 24 | $11.9M | $40.4M | ||
| Q1 24 | $9.6M | $38.8M |
| Q4 25 | $-3.8M | $-1.3M | ||
| Q3 25 | $-4.0M | $-2.7M | ||
| Q2 25 | $-6.0M | $-651.0K | ||
| Q1 25 | $-2.0M | $-6.4M | ||
| Q4 24 | $-4.1M | $-6.8M | ||
| Q3 24 | $-4.2M | $-2.5M | ||
| Q2 24 | $-3.2M | $-7.0M | ||
| Q1 24 | $-1.7M | $-7.2M |
| Q4 25 | 20.4% | 47.7% | ||
| Q3 25 | 17.4% | 45.6% | ||
| Q2 25 | 8.5% | 48.7% | ||
| Q1 25 | 33.9% | 50.1% | ||
| Q4 24 | 30.0% | 49.2% | ||
| Q3 24 | 18.0% | 49.1% | ||
| Q2 24 | 32.3% | 41.9% | ||
| Q1 24 | 35.6% | 45.7% |
| Q4 25 | -46.9% | -4.0% | ||
| Q3 25 | -58.3% | -7.0% | ||
| Q2 25 | -60.8% | -2.3% | ||
| Q1 25 | -17.4% | -16.8% | ||
| Q4 24 | -37.6% | -16.1% | ||
| Q3 24 | -46.5% | -8.2% | ||
| Q2 24 | -5.6% | -17.5% | ||
| Q1 24 | -6.8% | -18.8% |
| Q4 25 | -50.5% | -3.4% | ||
| Q3 25 | -56.6% | -6.6% | ||
| Q2 25 | -63.5% | -1.5% | ||
| Q1 25 | -20.3% | -16.8% | ||
| Q4 24 | -42.3% | -17.2% | ||
| Q3 24 | -61.5% | -6.9% | ||
| Q2 24 | -27.1% | -17.2% | ||
| Q1 24 | -17.4% | -18.6% |
| Q4 25 | $-1.26 | $-0.02 | ||
| Q3 25 | $-0.48 | $-0.04 | ||
| Q2 25 | $-0.13 | $-0.01 | ||
| Q1 25 | $-0.04 | $-0.08 | ||
| Q4 24 | $-3.73 | $-0.10 | ||
| Q3 24 | $-4.91 | $-0.04 | ||
| Q2 24 | $-0.77 | $-0.10 | ||
| Q1 24 | $-0.40 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $25.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.2M | $51.0M |
| Total Assets | $23.3M | $63.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.4M | ||
| Q3 25 | — | $26.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $9.2M | $51.0M | ||
| Q3 25 | $2.8M | $51.3M | ||
| Q2 25 | $1.7M | $53.0M | ||
| Q1 25 | $4.7M | $53.7M | ||
| Q4 24 | $6.6M | $64.9M | ||
| Q3 24 | $-22.0M | $72.5M | ||
| Q2 24 | $-23.8M | $75.0M | ||
| Q1 24 | $-20.7M | $80.3M |
| Q4 25 | $23.3M | $63.6M | ||
| Q3 25 | $19.9M | $60.0M | ||
| Q2 25 | $23.7M | $62.5M | ||
| Q1 25 | $24.5M | $62.0M | ||
| Q4 24 | $25.1M | $68.0M | ||
| Q3 24 | $15.0M | $72.9M | ||
| Q2 24 | $18.7M | $72.8M | ||
| Q1 24 | $19.3M | $85.1M |
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 | $-507.0K |
| Free Cash FlowOCF − Capex | $-3.9M | — |
| FCF MarginFCF / Revenue | -52.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-17.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.8M | $-507.0K | ||
| Q3 25 | $-2.8M | $116.0K | ||
| Q2 25 | $-5.0M | $-1.4M | ||
| Q1 25 | $-5.4M | $-2.9M | ||
| Q4 24 | $-3.9M | $-2.0M | ||
| Q3 24 | $1.1M | $3.9M | ||
| Q2 24 | $-912.0K | $282.0K | ||
| Q1 24 | $-2.4M | $-3.2M |
| 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% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
