Reformation Reports Q3 2026 Revenue Growth of 19.1% and Increased Adjusted EBITDA
Reformation (REF) reported strong third-quarter fiscal 2026 results, highlighted by a 19.1% year-over-year increase in net revenue to $173.6 million. This growth was fueled by robust performance across all channels and geographies, including a 24.7% surge in international revenue. While the company reported a net loss of $1.1 million due to high effective tax rates from non-deductible compensation related to its IPO, Adjusted EBITDA rose significantly by 64.2% to $23.1 million. The company's gross margin expanded to 60.4%, benefiting from lower tariff rates and higher average unit retail prices. Despite a rise in SG&A expenses driven by IPO-related stock compensation, Reformation maintained stable marketing spend. Looking ahead, the company provided optimistic full-year revenue guidance of $610 million to $612 million and expects Adjusted EBITDA margins to reach approximately 14.2%, positioned at the high end of previous estimates.
Tickers: $REF
Topics: Customer Acquisition Direct-to-Consumer Gross Margin Expansion Net Revenue Growth Wholesale Demand