Reformation Reports Fiscal Q3 Revenue Growth, Raises Full-Year Outlook
Net revenue rose 19.1% to $173.6 million, while adjusted EBITDA increased 64.2% to $23.1 million. Reformation raised its fiscal 2026 net revenue growth outlook to approximately 20% and put its adjusted EBITDA margin outlook at the high end of prior guidance, approximately 14.2%.
Reformation Inc. announced its financial results for the third quarter of fiscal 2026, reporting a 19.1% increase in net revenue to $173.6 million. The company saw growth across all channels, with direct-to-consumer (DTC) revenue rising 16.7% to $152.8 million and wholesale revenue increasing 40.8% to $20.8 million. Gross margin expanded by 252 basis points to 60.4%, while Adjusted EBITDA grew 64.2% to $23.1 million.
Following these results, the company raised its fiscal 2026 net revenue growth outlook to approximately 20% and adjusted its EBITDA margin outlook to the high end of its previous guidance at approximately 14.2%. CEO Hali Borenstein noted that the results mark the company's 22nd consecutive quarter of double-digit revenue growth.