<PAGE>   1
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q


[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934 FOR THE PERIOD ENDED SEPTEMBER 30, 1997

                                       or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ TO ______________


Commission File Number:  1-13042


                                   RIDE, INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


            Washington                                  91-1571027
------------------------------------         ---------------------------------
  (State or other jurisdiction of            (I.R.S. Employer Identification
  incorporation or organization)                           No.)


    8160 304th Avenue Southeast
        Preston, Washington                               98050
------------------------------------         ---------------------------------
  (Address of principal executive                       (Zip Code)
             offices)


                                 (425) 222-6015
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                             Yes  [X]         No  [ ]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:

Common Stock, without par value -- 11,700,947  shares as of October 31, 1997


<PAGE>   2


                                      INDEX

                                   RIDE, INC.


PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

         Condensed consolidated balance sheets -- September 30, 1997 and
               December 31, 1996

         Condensed consolidated statements of operations -- Three months and
               nine month periods ended September 30, 1997 and 1996

         Condensed consolidated statements of cash flows -- Nine months ended
               September 30, 1997 and 1996

         Notes to condensed consolidated financial statements


Item 2.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations

Item 3.  Quantitative and Qualitative Disclosure about Market Risk

PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

Item 2.  Changes in Securities

Item 3.  Defaults upon Senior Securities

Item 4.  Submission of Matters to a Vote of Security Holders

Item 5.  Other Information

Item 6.  Exhibits and Reports on Form 8-K


SIGNATURES


EXHIBITS



                                       1
<PAGE>   3


PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                                   RIDE, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (IN THOUSANDS)


<TABLE>
<CAPTION>
                                                           September 30,   December 31,
                                                               1997           1996
                                                           (Unaudited)
                                                           -------------   ------------
<S>                                                           <C>              <C>    
ASSETS
Current assets:
   Cash and cash equivalents                                  $   121          $ 3,232
   Receivables, less allowance for doubtful accounts
       of $733 at September 30, 1997 and $655 at               17,300           14,193
       December 31, 1996
   Inventories (Note 3)                                        11,065            5,986
   Prepaid expenses and other current assets                      890              450
   Income taxes receivable                                      3,930            2,836
   Deferred tax assets                                          1,423            1,423
                                                              -------          -------
        Total current assets                                   34,729           28,120

Plant and equipment, net of accumulated depreciation            5,871            5,757
Notes receivable, net of discount                               2,000            1,884
Goodwill, net of accumulated amortization                      16,674           14,292
Other assets                                                      805              602
                                                              -------          -------
Total assets                                                  $60,079          $50,655
                                                              =======          =======


LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
   Accounts payable                                          $  5,313         $  4,631
   Accrued expenses                                             1,383            2,776
   Short-term borrowings                                       11,265               --
                                                             --------         --------
        Total current liabilities                              17,961            7,407
                                                    
   Long-term liabilities                                          761              604
   Deferred income taxes                                          335              335
                                                    
Shareholders' equity:                               
   Preferred stock                                                500              500
   Common stock                                                42,097           39,583
   Retained earnings (accumulated deficit)                     (1,575)           2,226
                                                             --------         --------
        Total shareholders' equity                             41,022           42,309
                                                             --------         --------
                                                    
Total liabilities and shareholders' equity                   $ 60,079         $ 50,655
                                                             ========         ========
</TABLE>
                                           
                            See accompanying notes.

                                       2
<PAGE>   4

                                   RIDE, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)


<TABLE>
<CAPTION>
                                         Three months ended        Nine months ended  
                                            September 30,            September 30,
                                       ---------------------     ---------------------
                                         1997         1996         1997         1996
                                       ---------------------     ---------------------
<S>                                    <C>          <C>          <C>          <C>     
Net sales                              $ 18,215     $ 35,329     $ 25,774     $ 61,606
Cost of goods sold                       12,391       23,985       17,957       42,712
                                       --------     --------     --------     --------
Gross profit                              5,824       11,344        7,817       18,894

Selling, general and administrative       
expenses                                  4,585        5,419       12,977       14,090
                                       --------     --------     --------     --------
Operating income (loss)                   1,239        5,925       (5,160)       4,804

Interest income                              50           14          153          292
Interest expense                           (188)        (125)        (231)        (152)
                                       --------     --------     --------     --------
Income (loss) before income taxes         1,101        5,814       (5,238)       4,944

Income tax expense (benefit)                440        2,172       (1,463)       1,874
                                       --------     --------     --------     --------
Net income (loss)                      $    661     $  3,642     $( 3,775)    $  3,070
                                       ========     ========     ========     ========


Per share:
   Primary                             $   0.06     $   0.32     ($  0.34)    $   0.27
   Fully diluted                       $   0.06     $   0.32     ($  0.34)    $   0.27


Weighted average common shares
outstanding:
   Primary                               11,605       11,258       11,085       11,334
   Fully diluted                         11,813       11,485       11,085       11,534
</TABLE>


                            See accompanying notes.

                                       3
<PAGE>   5

                                   RIDE, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>
                                                           Nine months ended 
                                                             September 30,
                                                        ----------------------
                                                          1997         1996
                                                        --------     ---------
<S>                                                     <C>          <C>      
Net cash used in operating activities                   $(12,175)    $(21,960)

INVESTING ACTIVITIES:
   Acquisitions of Device Mfg Corp. and Smiley            (1,824)          --
     Hats, Inc 
   Purchase of plant and equipment                          (616)      (4,669)
   Proceeds from sale of securities                           --        3,840
   Other                                                     (11)        (448)
                                                        --------     --------

        Net cash used in investing activities             (2,451)      (1,277)

FINANCING ACTIVITIES:
   Proceeds from short-term borrowings                    13,290       13,301
   Repayments of short-term borrowings                    (2,025)      (4,080)
   Proceeds from exercise of Common Stock options            319          744
   Proceeds from Employee Stock Purchase Plan                 28           62
   Repayment of notes payable                                 --         (938)
   Proceeds from long term debt                               --          640
   Repayments of long term debt                              (71)          --
   Dividends paid                                            (26)         (26)
                                                        --------     --------

        Net cash provided by financing activities         11,515        9,703
                                                        --------     --------

Net decrease in cash and cash equivalents                 (3,111)     (13,534)
Cash and cash equivalents at beginning of period           3,232       14,271
                                                        --------     --------

Cash and cash equivalents at end of period                  $121         $737
                                                        ========     ========
SUPPLEMENTAL DISCLOSURE:
   Cash paid (received) for income taxes                   $(369)        $386
   Cash paid for interest                                   $242         $126

NONCASH FINANCING ACTIVITY:
   Common stock issued in acquisitions                    $2,175           --
   Tax benefit of stock option exercises                      --         $166
</TABLE>


                            See accompanying notes.

                                       4

<PAGE>   6

                                   RIDE, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1997
                                   (UNAUDITED)


1.    BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared by Ride, Inc. (the "Company"), in accordance with generally accepted
accounting principles for interim financial statements and with the instructions
to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include
all of the information and disclosures required by generally accepted accounting
principles for complete financial statements. In the opinion of the Company's
management, all adjustments (consisting of normal recurring accruals) necessary
for a fair presentation have been included. The Company's revenues are highly
seasonal, occurring primarily between July and December as its products are
shipped to customers. The results of operations for the three and nine month
periods ended September 30, 1997, therefore may not be indicative of the results
for the full fiscal year. For further information, refer to the consolidated
financial statements and footnotes thereto included in the Company's annual
report on Form 10-K for the year ended December 31, 1996. All amounts are stated
in US dollars.

2.    NET INCOME (LOSS) PER SHARE

Primary net income per share has been computed by dividing net income, after
reduction for Preferred Stock dividends, by the weighted average number of
common shares and equivalents outstanding. Common share equivalents included in
the computation represent shares issuable upon assumed exercise of stock options
having exercise prices below the average market price of the Common Stock using
the treasury stock method. Fully diluted net income per share has been computed
by dividing net income by the weighted average number of common shares and
equivalents outstanding assuming the conversion of the Preferred Stock occurred
at the beginning of the period. The number of common share equivalents included
in the fully diluted computations represent shares issuable upon exercise of
stock options having exercise prices below the higher of the average or ending
market price of the Common Stock using the treasury stock method. Net loss per
share for the nine months ended September 30, 1997 has been computed by dividing
the net loss, after reduction for Preferred Stock dividends, by the weighted
average number of common shares outstanding. Common equivalent shares are
excluded from the net loss per share computation because their effects are
antidilutive.

3.    INVENTORIES

Inventories at September 30, 1997 and December 31, 1996 consisted of the
following:

<TABLE>
<CAPTION>
                                            September 30,       December 31,
                                                1997                1996
                                            --------------------------------
                                                     (In thousands)
<S>                                            <C>                <C>     
    Finished goods                             $ 10,769           $  9,415
    Raw materials and work in process             2,159              2,487
    Obsolescence reserve                         (1,863)            (5,916)
                                               --------           --------
                                               $ 11,065           $  5,986
                                               ========           ========
</TABLE>



                                       5
<PAGE>   7

                                   RIDE, INC.
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                  (Unaudited)


4.    FOREIGN CURRENCY TRANSACTIONS

The Company enters into foreign currency forward contracts to hedge firm
purchase and sales orders denominated in foreign currencies. At September 30,
1997, the Company had open positions to purchase 2.0 million Deutsche Marks
which mature through November 28, 1997. The net loss on these forward contracts
as of September 30, 1997 of approximately $158,000 has been deferred and will be
recognized when the related commitments are settled.

5.    ACQUISITIONS

On June 12, 1997, the Company purchased substantially all of the assets (except
cash and accounts receivable) and liabilities of Device Mfg Corp, a manufacturer
of step-in snowboard bindings and boots based in Boulder, Colorado. The purchase
price was comprised of approximately $1.0 million in assumed liabilities and
514,382 shares of Common Stock. Of the shares issued, 257,191 are subject to
forfeiture should 1997 Device product sales fail to meet certain targeted
amounts. The acquisition has been accounted for using the purchase method.

On July 22, 1997, the Company purchased substantially all of the assets of
Galena Creek Trading Company, Inc. (d.b.a. Smiley Hats), a manufacturer of
winter hats based in Sparks, Nevada. The purchase price was comprised of
approximately $550,000 in cash and 320,000 shares of Common Stock. Galena Creek
Trading Company is majority owned and controlled by the Company's Chief
Executive Officer. A valuation opinion from an investment banking company was
obtained in connection with this transaction. The acquisition was accounted for
using the purchase method.

6.    NEW ACCOUNTING PRONOUNCEMENTS

In February 1997, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 128 "Earnings Per Share" which is required to be adopted on December 31,
1997. At that time, the Company will be required to change the method currently
used to compute earnings per share and to restate all prior periods. Under the
new requirements for calculating primary or "basic" earnings per share, the
dilutive effect of stock options will be excluded. The impact of Statement 128
on the calculation of fully diluted or "diluted" earnings per share is not
expected to be material.

The FASB also recently issued SFAS No. 130, "Reporting Comprehensive Income" and
SFAS No. 131, "Disclosures about Segments of an Enterprise and Related
Information." Statement 130 establishes standards for reporting comprehensive
income in annual and interim financial statements. Statement 131 establishes
standards for the way public companies report information about operating
segments in annual and interim financial statements. It also establishes
standards for related disclosures about products and services, geographic areas,
and major customers. Statements 130 and 131 are effective for financial
statements for fiscal years beginning after December 15, 1997. These statements
will have no impact on the Company's results of operations, financial position
or cash flows.

7.    SUBSEQUENT EVENT

On November 11, 1997, the Company announced that it had entered into a letter of
intent to merge with US2 Sports Group, Inc. (US2), a manufacturer and marketer
of wakeboards and related equipment based in Woodinville, Washington. The terms
of the proposed merger call for the issuance of approximately $1.7 million in
Ride common stock in exchange for all of the outstanding common stock of US2.
The merger is expected to be completed before the end of 1997 and is expected to
be accounted for as a pooling of interests.



                                       6
<PAGE>   8






ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

To the extent that this Quarterly Report on Form 10-Q discusses financial
projections, information or expectations about the Company's products or
markets, or otherwise makes statements about the future, such statements are
forward looking and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from the statements made. These
factors include the competitive environment, industry and product
concentrations, dependence on third-party selling efforts and other risks
outlined in more detail in the Company's Annual Report on Form 10-K as filed
with the Securities and Exchange Commission for the fiscal year ended December
31, 1996. Certain forward looking statements contained in the following
discussion are more specifically identified with the symbol (*).

GENERAL

The Company is a leading designer, manufacturer and marketer of snowboards and
related products through its subsidiaries, Ride Snowboard Company ("Ride
Snowboards"), Ride Manufacturing, Inc. ("Ride Manufacturing," formerly Thermal
Snowboards, Inc.), Ride Canada, Inc. ("Ride Canada"), SMP Clothing, Inc. ("SMP")
and Smiley Hats, Inc. ("Smiley"). The Company was founded in 1992 and acquired
Ride Manufacturing in September 1995, SMP in October 1995 and Smiley in July
1997. In June 1997, the Company purchased the majority of the assets and
liabilities of Device Mfg Corp. ("Device") and merged the operations of that
company into Ride Snowboards. The results of operations of the acquired entities
are included in the Company's financial statements from the respective dates of
acquisition.

In August 1994, the Company acquired C.A.S. Sports International, Inc. and
C.A.S. Sports Agency, Inc. (collectively, "CAS"). On October 11, 1996, the
Company sold the CAS entities and the related excess inventory and brokered-OEM
businesses. The results of operations of the CAS excess inventory and
brokered-OEM businesses are included in the Company's financial statements
through the date those businesses were sold.

The Company's operations vary significantly during the year based on the winter
sports season. The season for winter sports, which includes snowboarding,
typically runs from November through March in northern hemisphere markets.
Accordingly, the Company generates the majority of its sales in the third and
fourth quarters, as snowboard retailers time their purchases to meet expected
retail demand.* Because relatively lower net sales are generated in the first
and second quarters of the year, the Company expects to incur operating losses
during those periods for the foreseeable future.*

RESULTS OF OPERATIONS

QUARTER ENDED SEPTEMBER 30, 1997 COMPARED WITH QUARTER ENDED SEPTEMBER 30, 1996

Net sales in the third quarter of 1997 were $18.2 million compared to $35.3
million in the third quarter of 1996. Approximately $7.5 million of the 1996
amount was generated by the CAS excess inventory and brokered-OEM businesses
sold in October 1996. Net sales generated by the 1997 acquisitions of Smiley and
Device totaled $800,000 during the third quarter. The remaining net decrease was
due primarily to soft market conditions throughout the industry due to an
oversupply of snowboard products.

Hard goods (defined as snowboards, bindings, boots and skateboards) represented
77% of third quarter 1997 net sales while soft goods (apparel and accessories)
made up 23%. For the third quarter of 1996, hard goods comprised 78% of sales
and soft goods 22%. For the third quarter of 1997, sales in North America made
up 60% of total sales with international sales representing the remaining 40%.
For the third quarter of 1996, North America represented 66% of total sales and
international 34%. The increase in international sales during the 1997 quarter
was due to the Company's strategy of selling its "Ride," "Liquid," and "Preston"
branded products directly to the top retailers in Japan instead of selling
exclusively through distributors. This strategy has had the effect of shifting
more Japanese shipments into the third and fourth quarters of the year.




                                       7
<PAGE>   9

Gross margins remained at 32% for the three month periods ended September 30,
1997 and 1996. Gross margins were positively impacted by favorable sourcing
arrangements and manufacturing cost reductions, offset by sales of lower margin
1996 close out products.

Selling, general and administrative expenses were $4.6 million for the third
quarter of 1997 compared to $5.4 million in the third quarter of 1996. This
decrease was due primarily to staff reductions, lower executive salaries, lower
variable expenses associated with the lower sales volumes (primarily commissions
and bad debt accruals) and the disposition of the CAS businesses, offset partly
by increased occupancy and legal expenses as well as the expenses of the Smiley
and Device entities acquired in 1997.

Interest income was $50,000 in the third quarter of 1997 compared with $14,000
for the third quarter of 1996. The increase was due to interest accrued on the
long term note receivable received in the sale of the CAS businesses in October
1996. Interest expense in the third quarter of 1997 increased to $188,000 from
$125,000 in the third quarter of 1996 due to a generally higher level of direct
advances on the Company's revolving credit facility during the 1997 period.

The effective tax rate for the third quarter of 1997 was 40% compared with 37%
for the third quarter of 1996. The Company expects the effective tax benefit for
the full year to be approximately 25%.*

NINE MONTHS ENDED SEPTEMBER 30, 1997 COMPARED WITH NINE MONTHS ENDED SEPTEMBER
30, 1996

Net sales in the first nine months of 1997 were $25.8 million compared to $61.6
million in the first nine months of 1996. Approximately $15 million of the 1996
amount was generated by the CAS excess inventory and brokered-OEM businesses
sold in October 1996. The remaining net decrease was due primarily to soft
market conditions throughout the industry due to an oversupply of snowboard
products.

Hard goods represented 69% of net sales in the first nine months of 1997 while
soft goods made up 31%. For the first nine months of 1996, hard goods comprised
81% of sales and soft goods 19%. The relative increase in soft goods sales was
attributable primarily to growth in Spring season sales at the Company's SMP
subsidiary coupled with the fact that the sold CAS businesses were predominantly
hard goods oriented. For the first nine months of 1997 and 1996, respectively,
sales in North America made up 64% and 56% of total sales with international
sales representing the remaining 36% and 44%. The decrease in international
sales is largely attributable to the excess inventory situation in Japan and the
resulting decline in sales to that market.

Gross margins for the nine months ended September 30, 1997 were 30% compared to
31% for the same period in 1996. Gross margins were positively impacted by
favorable sourcing arrangements and manufacturing cost reductions, offset by
sales of lower margin 1996 close out products.

Selling, general and administrative expenses for the first nine months of 1997
decreased to $13.0 million from $14.0 million in the first nine months of 1996.
This decrease was due primarily to staff reductions, lower executive salaries,
lower variable expenses associated with the lower sales volumes (primarily
commissions and bad debt accruals) and the disposition of the CAS businesses,
offset partly by increased occupancy and legal expenses as well as the expenses
of the Smiley and Device entities acquired in 1997.

Interest income totaled $153,000 in the first nine months of 1997 compared with
$292,000 for the same period in 1996. The decrease was due to overall lower
invested cash balances in the first nine months of 1997 as compared to the same
period in 1996, offset in part by interest accrued on the long term note
receivable received in the sale of the CAS businesses in October 1996. Interest
expense was $231,000 in the first nine months of 1997 compared to $152,000 in
the first nine months of 1996 due to a generally higher level of direct advances
on the Company's revolving credit facility during the 1997 period.

The effective tax rate for the first nine months of 1997 was a 28% benefit
compared with a 38% expense for the 1996 period. The lower rate is due primarily
to the establishment of a valuation allowance on the Company's net 




                                       8
<PAGE>   10

operating loss carryforwards. The Company expects the effective tax benefit for
the full year to be approximately 25%.*

LIQUIDITY AND CAPITAL RESOURCES

During the third quarter of 1997 and 1996, the Company financed its operations
primarily through collection of receivables and the Company's line of credit
facility. Net cash used in operating activities totaled $12.2 million in the
first nine months of 1997 compared with $22.0 million in the comparable period
of 1996. This decrease was due to primarily to a smaller inventory buildup in
1997 than in 1996 and lower accounts receivable due to the reduction in net
sales. Net cash used in investing activities totaled $2.5 million during the
first nine months of 1997 compared to $1.3 million in the first nine months of
1996. The 1997 period included $1.8 million related to the acquisitions of
Device Mfg Corp. and Smiley Hats, and $616,000 in capital expenditures. The 1996
period includes capital expenditures of approximately $4.7 million, offset by
$3.8 million in proceeds from the sale of short term investments. A significant
portion of the capital expenditures acquired in the first six months of both
1997 and 1996 were associated with molds and tooling for snowboards and
snowboard bindings. Capital expenditures in the 1996 period also included
leasehold improvements related to the expansion of the Company's Preston,
Washington office and warehouse facilities. Net cash provided by financing
activities totaled $11.5 million in the first nine months of 1997 compared with
$9.7 million in the comparable period of 1996. The primary financing activity
for both periods were net advances on the Company's line of credit of $11.3
million in 1997 and $9.2 million in 1996.

The Company has a revolving line of credit arrangement with a bank to finance
import letters of credit and working capital needs. Through October 30, 1997,
the maximum amount available under the line is $15 million. The maximum amount
available thereafter fluctuates based on the seasonality of the Company's cash
flows but is never less than $2 million. Advances on the line bear interest at
the bank's prime rate. At October 31, 1997, the Company had approximately
$600,000 in outstanding import letters of credit and direct advances of $9.8
million drawn against this line. The line of credit expires on June 30, 1998 and
has certain operating covenants, including financial ratios, working capital
restrictions and restrictions on payment of dividends on the Company's Common
Stock. In order to meet working capital requirements or make additional
acquisitions, the Company may need to obtain additional financing to replenish
cash used in current year operations.* There can be no assurance that the
Company will be able to obtain such additional financing when needed or on terms
favorable to the Company.*

Certain of the Company's purchase commitments and sales are denominated in
foreign currencies. Because a change in the value of such currencies relative to
the U.S. dollar will affect the Company's gross profit and net income, the
Company enters into forward currency contracts to hedge against adverse currency
fluctuations. Although the Company believes that these contracts decrease the
overall exposure to gains and losses from currency fluctuations, such exposure
cannot be entirely eliminated.*


ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.

Not applicable.



                                       9
<PAGE>   11



PART II  -  OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

In 1996, the Company's Preston Binding Company subsidiary initiated legal
proceedings against Switch Manufacturing, alleging infringement by Switch of
certain Preston-owned patented binding technologies. In answer to the lawsuit,
Switch counterclaimed, alleging misuse of patent and unfair business practices
by the Company. In April 1997, the Company filed a motion to dismiss Switch's
counterclaims and certain affirmative defenses. On July 28, 1997, the Court
granted the Company's motion to dismiss Switch's counterclaims and certain
affirmative defenses and directed Switch to file an amended answer no later than
August 27, 1997. Switch timely filed an Amended Answer that did not include
counterclaims. The case is pending in the United States District Court for the
Northern District of California as Raines, et al. v. Switch Manufacturing v.
Ride, Inc., Civil Action No. C96-2648-DLJ.

On March 14, 1997, a shareholder filed a lawsuit against the Company and four of
its current or former officers and directors in the United States District Court
for the Western District of Washington at Seattle, styled Murray v. Ride, Inc.
et al., Civil Action No. C97-0402Z. A second lawsuit was filed against the same
parties on April 9, 1997 by two shareholders in the same court under Taylor et
al. v. Ride, Inc. et al., Civil Action No. C97-560Z. Identical except for the
named plaintiffs and facts specific to each, the lawsuits allege violations of
certain federal securities laws and state laws, and purport to seek damages on
behalf of a class of shareholders who purchased the Company's common stock
during the period August 10, 1995 through December 30, 1996. The lawsuits have
been consolidated under Civil Action No. C97-0402 WD and plaintiffs in the
Murray action have been appointed Lead Plaintiffs under applicable statutory
provisions. On October 6, 1997, the Company filed a Motion to Dismiss the
consolidated claims. The Motion is pending as additional pleadings related to
the Motion are filed with the Court.

ITEM 2.   CHANGES IN SECURITIES

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

(a)   Exhibits

<TABLE>
<CAPTION>
   Exhibit No.                             Description
   -----------                             -----------
<S>              <C>                                                            
       3.1       Restated Articles of Incorporation and Certificate of
                 Designation of Relative Rights and Preferences of the Series A
                 7% Cumulative Nonvoting Preferred Stock (1)

       3.2       Bylaws of the Company (1)

       3.3       Articles of Amendment to Articles of Incorporation (9)
</TABLE>




                                       10
<PAGE>   12

<TABLE>
<S>               <C> 
       3.4       Articles of Amendment to Articles of Incorporation (10)

       3.5       Articles of Correction (12)

       4.1       Article VI of the Articles of Incorporation regarding
                 Shareholder Rights (See Exhibit 3.1) (1)

       4.2       Article VIII of the Articles of Incorporation regarding Voting
                 Rights (See Exhibit 3.1) (1)

       4.4       Specimen Stock Certificate (2)

      10.10      Exclusive Distributorship Agreement dated December 7, 1992, by
                 and between Ride Snowboard Company and Far East Trading Co.,
                 Ltd. (3)

      10.24      Exchange Agreement, dated December 31, 1993, between Ride
                 Snowboard Company and Mark M. Salter (1)

      10.25      Employment Agreement, dated August 18, 1994, by and between
                 Ride Snowboard Company and James J. Salter (4)

      10.26      Form of Employment Agreement between Ride Snowboard Company and Roger
                 B. Madison, Jr. (1)

      10.27      Employment Agreement, dated January 1, 1995, by and between
                 Ride Snowboard Company and Timothy G. Pogue (7)

      10.28      Form of Ride Snowboard Company 1994 Stock Option Plan (1)

      10.29      Form of Ride Snowboard Company 1994 Directors' Nonqualified
                 Stock Option Plan (1)

      10.30      Lease Agreement with Teachers Insurance & Annuity Association dated
                 January 10, 1994 (1)

      10.32      Amended Form of Underwriting Agreement (5)

      10.34      Standard Form Multiple Occupancy Lease, dated November 29,
                 1994, by and between Ride Snowboard Company and BDC Preston
                 Properties One Limited Partnership (6)

      10.35      Business Loan Agreement, dated June 30, 1997, by and between
                 Ride, Inc. and U.S. Bank of Washington, N.A.

      10.36      Stock Purchase Agreement, dated August 18, 1994, between Ride
                 Snowboard Company and James J. Salter, the James Salter Family
                 Trust, Kenneth Finkelstein Family Trust, The Snow Trust, Robert
                 Marcovitch, Kerry Wasserman, Rick Clarfield, Howard Cohen, Gary
                 Kell, Sandra Pelegrin, Alan Langer, Dan Opyc, C.A.S. Sports
                 International, Inc. and C.A.S. Sports Agency, Inc. (8)

      10.45      Ride Snowboard Company 1995 Employee Stock Purchase Plan (9)

      10.46      Ride Snowboard Company 1995 Foreign Subsidiary Employee Stock
                 Purchase Plan (9)

      10.47*     Exclusive OEM Agreement, dated July 26, 1995, by and between
                 Ride Snowboard Company and Straight Line Water Sports, Inc. (11)

      10.48      Employment Agreement, dated September 1, 1995, between the
                 Company and David A. Janes, Jr. (13)

      10.49      Employment Agreement, dated September 1, 1995, between the
                 Company and Bernard Gervasoni (13)
</TABLE>




                                       11
<PAGE>   13

<TABLE>
<S>              <C>              
      10.50      Employment Agreement, dated October 19, 1995, between the
                 Company and David Milo Myers (14)

      10.51      Registration Rights Agreement dated October 19, 1995, between
                 the Company and David Milo Myers, Lawrence Kraus and Michael
                 Wise (14)

      10.52      Stock Purchase Agreement, dated September 1, 1995, between the
                 Company and the shareholders and option holders of 5150
                 Snowboards, Inc. and Thermal Snowboards, Inc. (15)

      10.53      Asset Purchase Agreement, dated October 19, 1995, among the
                 Company, Sex Money Power Clothing, Inc., David Milo Myers,
                 Lawrence Kraus and Michael Wise (16)

      10.54      Form of Underwriting Agreement by and between the Company and
                 Hambrecht & Quist LLC and Dain Bosworth Incorporated (17)

      10.55*     Amendment No.1 to Exclusive Distributorship Agreement, dated
                 October 24, 1995, by and between Ride Snowboard Company, 5150
                 Snowboards, Inc., SMP Clothing, Inc. and Far East Trading
                 Company Ltd. (18)

      10.56      Employment Agreement, dated October 14, 1995, by and between
                 the Company and Kenneth J. Finkelstein (19)

      10.57      Employment Agreement, dated January 1, 1996, by and between
                 C.A.S. Sports International, Inc. and Robert F. Marcovitch (19)

      10.58      First Amendment, dated August 4, 1995, to Lease Agreement by
                 and between Ride Snowboard Company and BDC Preston Properties
                 One Limited Partnership (19)

      10.59      Second Amendment, dated November 21, 1995, to Lease Agreement
                 by and between Ride Snowboard Company and BDC Preston
                 Properties One Limited Partnership (19)

      10.60      Third Amendment, dated March 26, 1996, to Lease Agreement by
                 and between Ride Snowboard Company and BDC Preston Properties
                 One Limited Partnership (19)

      10.61      Amendment No. 2 to Exclusive Distributorship Agreement, dated
                 October 24, 1995, by and between Ride Snowboard Company, 5150
                 Snowboards, Inc., SMP Clothing, Inc. and Far East Trading
                 Company Ltd.  (20)

      10.63      Agreement, dated May 7, 1996, by and between Ride, Inc. and
                 James J. Salter (21)

      10.64      Agreement, dated August 2, 1996, by and between Ride, Inc. and
                 Kenneth J. Finkelstein (21)

      10.65      Agreement, dated August 7, 1996, by and between Ride, Inc. and
                 Robert E. Hall (21)

      10.66      Stock Purchase Agreement, dated October 11, 1996, by and
                 between Ride, Inc. and Gen-X Equipment, Inc.  (22)

      10.67      Amendment No. 1 to Resignation Agreement, dated October 11,
                 1996, by and between Ride, Inc. and James J. Salter. (22)

      10.68      Amendment No. 1 to Resignation Agreement, dated October 11,
                 1996, by and between Ride, Inc. and Kenneth J. Finkelstein. (22)

      10.69      Resignation and Release Agreement, dated October 28, 1996, by
                 and between 
</TABLE>




                                       12
<PAGE>   14
<TABLE>
<S>              <C> 
                 Ride, Inc. and Timothy G. Pogue (23)

      10.70      Letter agreement, dated December 6, 1996, by and between Ride,
                 Inc. and Straight Line Water Sports, Inc. (23)

      10.71      Letter agreement, dated December 12, 1996, by and between Ride,
                 Inc. and Straight Line Water Sports, Inc. (23)

      10.72*     Financial Advisory Agreement, dated January 15, 1997, by and
                 between Ride, Inc. and Roger Madison, Jr. (24)

      10.73      Asset Purchase Agreement, dated  July 15, 1997, by and between
                 Ride, Inc. and Galena Creek Trading Company, Inc. (dba Smiley
                 Hats)

      11.1      Computation of earnings per share

      27.1      Financial Data Schedule
</TABLE>
----------

(1)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Registration Statement on Form SB-2, file no.
        33-75770-LA.

(2)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Amendment No. 1 to Registration Statement on Form SB-2,
        file no. 33-75770-LA.

(3)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Registration Statement on Form SB-2, file no.
        33-75770-LA, with confidential portions omitted and filed separately
        with the Commission pursuant to a Request of Confidential Treatment
        under Rule 406 of the Securities Act of 1933.

(4)     Exhibit is incorporated by reference to Exhibit No. 10.1 to the
        Company's Current Report on Form 8-K, dated August 31, 1994.

(5)     Exhibit is incorporated by reference to Exhibit No. 1.1A to the
        Company's Amendment No. 1 to Registration Statement on Form SB-2, file
        no. 33-75770-LA.

(6)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Annual Report on Form 10-K for the fiscal year ended
        December 31, 1994.

(7)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Post-Effective Amendment No. 1 to the Registration
        Statement on Form SB-2, file no. 33-75770-LA.

(8)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Post-Effective Amendment No. 2 to the Registration
        Statement on Form SB-2, file no. 33-75770-LA.

(9)     Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Registration Statement on Form S-1, file no. 33-94814.

(10)    Exhibit is incorporated by reference to an identically numbered exhibit
        to Amendment No. 1 to the Company's Registration Statement on Form S-1,
        file no. 33-94814.

(11)    Exhibit is incorporated by reference to an identically numbered exhibit
        to Amendment No. 1 to the Company's Registration Statement on Form S-1,
        file no. 33-94814, with confidential portions omitted and filed
        separately with the Commission pursuant to a Request of Confidential
        Treatment under Rule 406 of the Securities Act of 1933.




                                       13
<PAGE>   15

(12)    Exhibit is incorporated by reference to an identically numbered exhibit
        to Amendment No. 2 to the Company's Registration Statement on Form S-1,
        file no. 33-94814.

(13)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Current Report on Form 8-K, dated September 1, 1995.

(14)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Current Report on Form 8-K, dated October 20, 1995.

(15)    Exhibit is incorporated by reference to Exhibit No. 2.1 to the Company's
        Current Report on Form 8-K, dated September 1, 1995.

(16)    Exhibit is incorporated by reference to Exhibit No. 2.2 to the Company's
        Current Report on Form 8-K, dated October 20, 1995.

(17)    Exhibit is incorporated by reference to Exhibit No. 1.1 to the Company's
        Registration Statement on Form S-1, file no. 33-94814.

(18)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Quarterly Report on Form 10-Q, for the fiscal quarter
        ended September 30, 1995.

(19)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Annual Report on Form 10-K for the fiscal year ended
        December 31, 1995.

(20)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Quarterly Report on Form 10-Q for the fiscal quarter
        ended March 31, 1996.

(21)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Quarterly Report on Form 10-Q for the fiscal quarter
        ended June 30, 1996.

(22)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Current Report on Form 8-K, dated October 11, 1996.

(23)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Annual Report on Form 10-K for the fiscal year ended
        December 31, 1996.

(24)    Exhibit is incorporated by reference to an identically numbered exhibit
        to the Company's Quarterly Report on Form 10-Q for the fiscal quarter
        ended March 31, 1997.

*       Certain portions of this exhibit have been omitted and filed separately
        with the Commission pursuant to an Application for Confidential
        Treatment.


        (b)  Reports on Form 8-K

        Not applicable.



                                       14
<PAGE>   16
            
            
            
           
SIGNATURES

In accordance with the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


   
           RIDE, INC.
       -----------------------------------
           (Registrant)




Dated:   November 13, 1997               By  /s/ Robert E. Hall
                                             -----------------------------------
                                             Robert E. Hall
                                             President and Chief Executive
                                                Officer





Dated:   November 13, 1997               By  /s/  G. Scott Stewart
                                             -----------------------------------
                                             G. Scott Stewart
                                             Chief Financial Officer







                                       15
<PAGE>   17



                                  EXHIBIT INDEX


<TABLE>
<CAPTION>
                                                                                     Manual
Exhibit No.    Description                                                          Page No.
-----------    -----------                                                          --------
<S>            <C>                       
   10.35       Business Loan Agreement, dated June 30, 1997, by and between Ride,
               Inc. and U.S. Bank of Washington, N.A.
   
   10.73       Asset Purchase Agreement, dated  July 15, 1997, by and between
               Ride, Inc. and Galena Creek Trading Company, Inc. (dba Smiley
               Hats)
   
   11.1        Computation of earnings per share 
   
   27.1        Financial data schedule
</TABLE>
            
            
            
            















                                       15