Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data REE Automotive Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.68
0.39
0.01
0
1.61
0.18
1.3
Cost of revenue
0.49
0.65
1
0.55
3.27
3.68
17.6
Gross profit
0.19
-0.26
-0.99
-0.55
-1.66
-3.5
-16.3
Research and development
7.04
29.6
252
78.2
82.7
49.5
45.4
Selling, general and administrative
7.18
38.3
262
49.2
35.6
26.2
20
Operating expenses
14.2
67.8
515
127
118
75.6
90.1
Operating income
-14
-68.1
-515
-128
-120
-79.1
-106
Interest expense
0
0.08
0.92
0.96
Interest income
2.87
4.49
2.87
1.52
Other non-operating income
1.83
0.39
0.42
4.37
3.93
-7.81
10.7
Pre-tax income
-12.2
-67.7
-504
-106
-116
-110
-57.8
Income tax
0
0
1.28
1.75
-1.36
2.06
-1.99
Net income
-12.2
-67.7
-505
-107
-114
-112
-55.8
EBITDA
-13.9
-67.9
-515
-126
-118
-75.9
-103
Shares, basic (weighted)
127
156
7.85
9.78
10.1
15.9
32.1
Shares, diluted (weighted)
127
156
7.85
9.78
10.1
15.9
32.1
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
27.6
44.7
276
56.8
41.2
72.3
14.2
Short-term investments
1.67
0
Receivables
0.06
0
0
0.46
0.01
0.02
Inventory
0.27
0
0
0.46
3.08
0
Other current assets
0.43
12.2
5.01
3.18
1.04
0.28
Total current assets
47.9
288
166
93.5
82.5
15
Property, plant and equipment
0.76
2.68
16.9
17.1
22.1
3.86
Lease right-of-use assets
26.1
21.4
20.1
15
Total assets
49
293
215
138
130
38.2
Accounts payable
0.97
4.54
6.17
3.7
5.6
1.74
Accrued liabilities
1.48
8.26
5.19
5.7
5.82
4.13
Deferred revenue
0
0
Short-term debt
0
15
18
0
Total current liabilities
3.23
20.6
20
35.2
36.2
12.7
Lease liabilities
18.6
16.4
13.3
10.7
Total liabilities
3.23
42.5
39.6
59.8
107
31.4
Paid-in capital
155
865
897
914
971
1,010
Retained earnings
-109
-615
-722
-836
-948
-1,004
Shareholders' equity
27.6
45.8
250
175
78.1
23.1
6.75
Total equity
27.6
45.8
250
175
78.1
23.1
6.75
Total liabilities and equity
49
293
215
138
130
38.2
Shares outstanding
45.3
318
10.9
11.2
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-12.2
-67.7
-505
-107
-114
-112
-55.8
Depreciation and amortization
0.08
0.17
0.48
1.68
2.26
3.18
3.09
Stock-based compensation
7.05
52.8
448
26.9
16.3
9.59
5.07
Deferred income tax
0
0
0
-0.61
2.39
-1.78
Change in receivables
0.02
-0.02
0.06
0
-0.46
0.44
-0.01
Change in inventory
-0.11
0.11
0.27
0
-0.46
-3.41
3.08
Cash from operations
-6.83
-13.1
-59.1
-113
-89.3
-69
-68.7
Capital expenditures
-0.16
-0.6
-2.42
-11.1
-3.75
-7.53
-6.31
Cash from investing
-0.16
-2.26
-0.75
-107
49.6
36
-6.21
Stock issued
0.31
0.21
0
0
0.47
45.5
34.4
Cash from financing
21.1
33.1
291
2.43
24
63.5
16.4
Net change in cash
14.1
17.8
231
-217
-15.7
30.5
-58.6
Free cash flow
-6.99
-13.7
-61.6
-124
-93
-76.5
-75
Interest paid
0
0
0.05
0.03
Income taxes paid
0
0
0.59
1
0.36
0.08
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.02 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-1,255.0%
Gross profit / revenue.
Operating margin
-8,204.0%
Operating income / revenue.
EBITDA margin
-7,966.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-4,456.0%
Pre-tax income / revenue.
Net margin
-4,303.0%
Net income / revenue.
FCF margin
-5,784.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-5,298.0%
Cash from operations / revenue.
Return on equity (ROE)
-373.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-66.3%
Net income / average total assets.
R&D / revenue
3,503.0%
Research and development expense / revenue.
SG&A / revenue
1,541.0%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
390.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
486.1%
Capital expenditures / revenue.
D&A / revenue
238.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
608.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 5y
27.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-70.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-66.2%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-31.8%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-70.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-43.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-4.9%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
101.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
48.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
-27.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.18x
Current assets / current liabilities.
Quick ratio
1.12x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.12x
(Cash + short-term investments) / current liabilities.
What was REE Automotive Ltd.'s revenue in fiscal 2025?
REE Automotive Ltd. reported revenue of $1.3M for fiscal 2025, 608.7% higher than the year before.
Was REE Automotive Ltd. profitable in fiscal 2025?
No. It reported a net loss of $55.8M.
How much free cash flow did REE Automotive Ltd. generate in fiscal 2025?
Cash from operations of $68.7M minus capital expenditures of $6.3M left free cash flow of -$75.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.