Reformation — Third Quarter Fiscal 2026 Earnings Summary

Reformation reported third-quarter fiscal 2026 net revenue of $173.6 million, representing a 19.1% increase from the prior year period. The company achieved a gross margin of 60.4%, expanded by 252 basis points, while active customers grew 23.4% to 1.25 million. Despite a net loss of $1.1 million driven by tax impacts related to its initial public offering, adjusted EBITDA rose 64.2% to $23.1 million. Consequently, Reformation raised its full-year fiscal 2026 net revenue growth outlook to approximately 20% and adjusted EBITDA margin guidance to 14.2%.