Coproduction of public policy involves bringing together technical experts, practitioners, and people with lived experience of that policy to collaboratively and deliberatively codesign it. Coproduction can leverage different ways of knowing and evaluative perspectives on a policy area to enhance the legitimacy and efficaciousness of policymaking. This article argues that researcher reflexivity is crucial for getting the most out of coproduction ethically and epistemically. By reflecting on our positionality, habitus, and biases, we can gain new insights into how we affect (...) the research design, production and analysis of data, and communication of findings. This reflexivity helps to disrupt power dynamics that underly research and policymaking, helping to realise the radical potential of coproduction to democratise practice, empower citizens, and make research more relational. We demonstrate the value of reflexivity through an analysis of our work coproducing a theory of thriving in financial hardship in partnership with the UK national anti-poverty charity Turn2us. We contextualise our advocacy for reflexivity within the practical realities of advancing coproduction in the UK today. (shrink)