REFORMATION: 22ND CONSECUTIVE QUARTER OF DOUBLE-DIGIT GROWTH, FULL-YEAR GUIDANCE LIFTED TO $610–612 MILLION

**Reformation reported a 19.1% increase in third-quarter sales to $173.6 million, marking its 22nd consecutive quarter of double-digit revenue growth and prompting the Los Angeles-based sustainable womenswear brand to raise its full-year outlook.** Direct-to-consumer revenues increased 16.7% to $152.8 million, powered by a 23.4% gain in active customers. Wholesale and other segment revenue surged 40.8% to $20.8 million, driven by increased demand from existing wholesale partners. Geographically, international revenue leapt 24.7% to $36.4 million — outpacing the U.S. market, which grew 17.7% to $137.2 million. The company opened seven stores during the quarter, including the reopening of its Palisades location, ending the period with 77 retail stores globally. The quarter recorded a net loss of $1.1 million, or $0.02 per share, compared to net income of $5 million in the prior-year period. The company attributed the swing to "discrete tax impacts related to limitations on the deductibility of executive compensation as a result of the company's IPO," which took place on July 30. "Our strong Q3 results, marking our 22nd consecutive quarter of double-digit revenue growth, reflect the durability of our business and momentum across our strategic growth pillars," said CEO Hali Borenstein. "The combination of our powerful brand, differentiated operating model, and significant white space ahead positions Reformation to continue to deliver double-digit growth in a large global market. We're proud of our accomplishments this quarter and remain focused on delivering against our long-term objectives to drive sustainable profitability and shareholder value." Full-year fiscal 2026 revenue guidance was raised to $610–612 million, representing growth of 20–21%, up from the prior range of $602–606 million.