Perfect Moment, Ltd., the London-based luxury skiwear maker, reported a smaller loss in the fiscal fourth quarter ended March 31 as gross margins improved materially, and sales expanded 13.4 percent. The period benefited from improved wholesale orders and efforts to reduce online promotions. 

Fiscal Q4 2026 Financial Highlights 

  • Revenue up 13.4 percent to $5.7 million compared to $5.0 million in Q4 FY25. 
  • Gross margin improved significantly to 83.0 percent compared to 32.0 percent in Q4 FY25. 
  • Total operating expenses decreased 21.9 percent to $6.4 million compared to $8.2 million in Q4 FY25. 
  • Loss from operations improved by approximately $4.9 million to $1.6 million compared to a loss of $6.6 million in Q4 FY25. 
  • Net loss improved by approximately $5.8 million to $1.6 million, or $(0.02) per diluted share, compared to a net loss of $7.3 million, or $(0.45) per diluted share, in Q4 FY25. 
  • Adjusted EBITDA loss improved by approximately $4.7 million to $1.0 million compared to an adjusted EBITDA loss of $5.7 million in Q4 FY25. 

Fiscal Full Year 2026 Financial Highlights 

  • Revenue up 9.8 percent to $23.6 million compared to $21.5 million in the year-ago period. 
  • Gross margin improved to 67.6 percent, up from 48.5 percent in the year-ago period. 
  • Total operating expenses decreased 12.5 percent to $21.2 million compared to $24.2 million in the year-ago period. 
  • Loss from operations improved by approximately $8.6 million to $5.2 million compared to a loss of operations of $13.8 million in the year-ago period. 
  • Net loss improved by approximately $8.8 million to $7.1 million, or $(0.23) per diluted share, compared to a net loss of $15.9 million, or $(0.99) per diluted share, in the year-ago period. 
  • Adjusted EBITDA loss improved by approximately $7.8 million to $3.5 million compared to an adjusted EBITDA loss of $11.3 million in the year-ago period 

“Fiscal 2026 was a defining year for Perfect Moment – one where the strategic work we’ve been executing is now clearly visible in our annual results,” said Jane Gottschalk, co-founder, creative director and president of Perfect Moment. “Growing revenue 10 percent, achieving meaningful gross margin expansion, and significantly narrowing losses reflect our team’s collective commitment to transforming this business into a sustainable, profitable grower. Importantly, we achieved this growth while navigating a complex global duty and tariff environment, a testament to the resilience of the operating model we’ve built. During the quarter, we also strengthened our financial foundation by securing $12 million in growth financing, enhancing our liquidity and providing flexibility to expand our product categories, execute our strategic initiatives, and continue our path toward sustainable profitability. We have made meaningful progress in our evolution into a four-season luxury outerwear and lifestyle brand, and I am confident that the foundation we’ve built positions us to deliver lasting value for our shareholders as we move into fiscal 2027 and beyond.” 

Chath Weerasinghe, chief financial and operating officer of Perfect Moment, commented: “Our results reflect the full impact of the operational and financial discipline we have instilled across the business. Annual Wholesale channel growth of 42 percent was a significant contributor to our overall double-digit revenue increase, underscoring the strength of our partner relationships and commercial strategy. Over the past year, we’ve significantly improved the efficiency of our operating model – our European fulfilment center meaningfully improved supply chain efficiency and reduced transit times across key markets, while renegotiated supplier terms and enhanced vendor management drove more favorable input costs. Disciplined pricing ensured margin preservation across channels without compromising our competitive positioning, and broader supply chain reengineering allowed us to optimize cost structures across the full product lifecycle despite headwinds during the year – collectively delivering significant gross margin expansion for the year. We enter fiscal 2027 and the winter season with the infrastructure, cost discipline, and commercial momentum to pursue continued profitable growth and create long-term shareholder value.” 

Brand and Marketing Highlights 
Perfect Moment’s brand strategy is built on three pillars: aspirational positioning rooted in ski heritage, a distinctive visual identity that travels across channels, and high-impact partnerships that extend reach into new audiences. In FY2026, this strategy delivered strong results. 

  • Global UVPM (Unique Visitors per Month): 16.8 billion, +1.2 percent year-over-year. 
  • Total Social Audience (KOLs): 1.2 billion, +28 percent year-over-year. 
  • Social Audience During Ski Season (FQ3–FQ4): 905.2 million, +52 percent year-over-year. 

The company’s strategic collaboration with Alpine Formula One Team was a standout contributor, generating over 1.1 billion in global PR reach (UVPM) and delivering strong social performance across both brand channels. 

Looking ahead, the company states, “There is significant runway in underpenetrated and emerging markets, where Perfect Moment’s aspirational positioning and growing global media presence provide a strong foundation for continued customer acquisition.” 

Fiscal Q4 and Full Year 2026 Financial Summary
Fourth quarter total net revenue increased 13.4 percent to $5.7 million compared to $5.0 million in the year-ago quarter. For the full year 2026, total net revenue was $23.6 million, an increase of 9.8 percent compared to $21.5 million in the same comparable year-ago period. The increase was driven by a stronger wholesale order book and improved operational execution, enabling more efficient fulfillment and shipping timing compared to the prior period. 

Fourth quarter eCommerce net revenue decreased 12.7 percent to $3.7 million compared to $4.3 million in the year-ago quarter. For the full year 2026, eCommerce net revenue decreased 17.9 percent to $8.3 million compared to $10.1 million in the same comparable year-ago period. The decreases reflect the company’s strategic shift away from discounted online sales as it transitions toward a full-price brand model. 

Fourth quarter wholesale revenue increased significantly to $1.5 million compared to $45,000 in the year-ago quarter. For the full year 2026, wholesale revenue increased 42.3 percent to $14.4 million compared to $10.1 million in the same comparable year-ago period. 

The fourth quarter gross profit increased significantly to $4.7 million compared to $1.6 million in the year-ago quarter. Fourth quarter gross margins were 83.0 percent compared to 32.0 percent in the year-ago quarter. For the full year 2026, gross profit increased 53.0 percent to $16.0 million compared to $10.4 million in the same comparable year-ago period. During the same period, gross margins were 67.6 percent compared to 48.5 percent. The increases primarily reflect improved supply chain efficiency, favorable sourcing economics, disciplined pricing, and broader supply chain optimization initiatives. 

Fourth quarter total operating expenses decreased 21.9 percent to $6.4 million from $8.2 million in the year-ago quarter. For the full year 2026, total operating expenses decreased 12.5 percent to $21.2 million from $24.2 million in the same comparable year-ago period. The decreases were driven by continued cost discipline and a more efficient allocation of marketing resources. 

Fourth quarter losses from operations improved by approximately $4.9 million to $1.6 million compared to a loss of $6.6 million in the year-ago quarter. For the full year 2026, loss from operations improved by approximately $8.6 million to $5.2 million compared to a loss from operations of $13.8 million in the same comparable year-ago period. 

Fourth quarter net loss was $1.6 million, or $(0.02) per diluted share, compared to a net loss of $7.3 million, or $(0.45) per diluted share, in the year-ago quarter. For the full year 2026, net loss was $7.1 million, or $(0.23) per diluted share, compared to a net loss of $15.9 million, or $(0.99) per diluted share, in the same comparable year-ago period. 

Fourth quarter adjusted EBITDA loss improved by approximately $4.7 million to $1.0 million compared to an adjusted EBITDA loss of $5.7 million in the year-ago quarter. For the full year 2026, adjusted EBITDA loss improved by approximately $7.8 million to $3.5 million compared to an adjusted EBITDA loss of $11.3 million in the same comparable year-ago period. The improvements in adjusted EBITDA were primarily driven by the increase in gross profit, warehouse efficiency and better cost control across distribution activities. 

Balance Sheet Highlights 
The company’s liquidity position at March 31, 2026, reflects accounts receivable of $2.1 million compared to $5.1 million at December 31, 2025. This decrease primarily reflects the collection of outstanding receivables during the quarter, supporting overall liquidity in the current period. 

Inventory of $3.9 million compared to $1.6 million in the same period last year. The increase reflects higher stock purchases to support the upcoming winter season, expanded sales channels, improved inventory planning and purchasing timing to support stronger sell-through performance.

Image courtesy Perfect Moment