"Out of the red" refers to the situation of a company or individual who has successfully overcome debt or financial difficulties and is now financially stable. There are various other terms that can be used to describe this. One commonly used term is "in the black," which is the opposite of being in debt. Another term that can be used is "out of the woods," implying that someone has overcome a difficult situation. Additionally, the phrase "back in the black" can also be used to describe the same financial stability after a period of debt or loss. Regardless of the term utilized, all of these phrases convey the sense that someone has successfully moved from an unfavorable position to a more positive one regarding their finances.