Based on the provided financial report articles, I generated the title for the article: "Quarterly Financial Report for PMNT (0001849221) - Q1 2027" Please note that the title is generated based on the provided data and may not be the actual title of the article.
Based on the provided financial report articles, I generated the title for the article: "Quarterly Financial Report for PMNT (0001849221) - Q1 2027" Please note that the title is generated based on the provided data and may not be the actual title of the article.
Unfortunately, the provided text does not contain a financial report, but rather a series of financial data and footnotes in a specific format. However, I can try to summarize the key financial figures and main events mentioned in the text:
- The report appears to be for a company called PMNT, with a fiscal year-end of March 31.
- The company’s financial data is presented in a series of tables and footnotes, but no overall financial summary or analysis is provided.
- The report mentions several financial metrics, including revenue, cost of goods sold, gross profit, operating expenses, net income, and cash flows.
- The company has a significant concentration of suppliers, with Everich Garments Group Ltd. and Toray International Inc. being the largest suppliers.
- The company also has a concentration of customers, with Customer One being the largest customer.
- The report does not provide any specific financial targets or guidance for the future.
Please note that this summary is limited by the lack of a comprehensive financial report and may not provide a complete picture of the company’s financial performance.
Overview
Perfect Moment is a luxury lifestyle brand that offers high-performance skiwear and complementary apparel categories. The company designs all products in-house and relies on a network of manufacturing partners across Europe and Asia, including China. Their merchandise is sold in over 60 countries through a combination of direct-to-consumer ecommerce, wholesale partnerships with premium retailers, select concession formats, and licensed international wholesalers.
The company is focused on generating long-term, brand-right growth and improving profitability. During the three months ended June 30, 2026, they continued to scale their direct-to-consumer business, launched a new spring/summer capsule, and increased their annual style count from approximately 75 to over 200. They also implemented a tiered pricing architecture across key categories to support value perception and drive margin enhancement.
Perfect Moment intends to grow their business over time by expanding their digital and retail footprint, diversifying their product portfolio, enhancing international reach, and pursuing selective collaborations. Their marketing efforts are designed to increase awareness, strengthen customer engagement, and support customer acquisition and retention.
Recent Developments
On June 12, 2026, the company’s common stock was delisted from the NYSE American and commenced trading on the OTCQB Venture Market on June 18, 2026. During July 2026, they drew $1,000 on their Revolver.
Results of Operations
The following table sets forth the company’s results of operations for the three months ended June 30, 2026 and 2025:
| Metric | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue, net | $1,150 | $1,472 | $(322), -21.9% |
| Cost of goods sold | $523 | $583 | $(60), -10.3% |
| Gross profit | $627 | $889 | $(262), -29.5% |
| Gross margin | 54.5% | 60.3% | - |
| Selling, general and administrative expenses | $3,380 | $3,415 | $(35), -1.0% |
| Marketing and advertising expenses | $507 | $529 | $(22), -4.2% |
| Loss from operations | $(3,260) | $(3,055) | $(205) |
| Net loss | $(3,533) | $(3,819) | $286 |
| Comprehensive loss | $(3,555) | $(3,952) | $397 |
Non-GAAP Measures
The company analyzes operational and financial data, including non-GAAP financial measures, to evaluate their business, allocate resources, and assess performance. One key non-GAAP measure is Adjusted EBITDA, which displays their net loss from continuing operations, adjusted to eliminate the effect of certain items such as interest expense, stock-based compensation, and depreciation and amortization.
The $564 decrease in Adjusted EBITDA for the three months ended June 30, 2026 compared to the same period in 2025 was primarily driven by a $262 decrease in gross profit, reflecting lower revenue and a decrease in gross margin from 60.3% to 54.5%, along with higher legal and professional fees, payroll and related costs, and other operating expenses.
SG&A expenses decreased $35 during the three months ended June 30, 2026 compared to the same period in 2025, with key drivers including decreased amortization of stock-based services and decreased share-based compensation, largely offset by increased legal and professional fees, higher payroll and related costs, and incremental spending across areas like IT, insurance, travel, and retail operations.
Revenue
Total revenue for the three months ended June 30, 2026 was $1,150, compared to $1,472 for the same period in 2025, a decrease of $322 or 21.9%. The decrease was primarily driven by partnership revenues of $304 that were realized during the three months ended June 30, 2025 that did not recur in the current period.
Cost of Goods Sold
Cost of goods sold for the three months ended June 30, 2026 was $523, compared to $583 for the same period in 2025, a decrease of $60 or 10.3%. The decrease was primarily driven by improved inventory efficiency and disciplined cost management.
Gross Profit and Gross Margin
Gross profit for the three months ended June 30, 2026 was $627, compared to $889 for the same period in 2025, a decrease of $262 or 29.5%. Gross margin decreased to 54.5% from 60.3% in the prior-year period, primarily attributable to a change in revenue mix, as the prior-year period benefited from higher-margin partnership revenue that did not recur.
Selling, General and Administrative Expenses
SG&A for the three months ended June 30, 2026 were $3,380, compared to $3,415 for the same period in 2025, a decrease of $35 or 1.0%. The decrease was primarily attributable to decreased amortization of stock-based services and decreased share-based compensation, largely offset by increased legal and professional fees, higher payroll and related costs, and incremental spending across key areas.
Marketing and Advertising Expense
Marketing and advertising expenses for the three months ended June 30, 2026 were $507, compared to $529 for the same period in 2025, a decrease of $22 or 4.2%. The decrease was primarily driven by reduced agency support and lower promotional and event-based activation spend.
Seasonality and Quarterly Trends
The company’s business is seasonal, with revenue concentrated in the quarters ending September 30, December 31 and March 31 driven by sales of ski and outerwear. In the quarter ending June 30, sales are driven by swimwear and activewear. The company expects this fluctuation to continue, and quarter-on-quarter results are also expected to be impacted by the timing of goods production and delivery, promotional activities, and the addition of new products and geographies.
Liquidity and Capital Resources
As of June 30, 2026, the company had cash and cash equivalents of $707, including an accumulated deficit of $75,580. They expect operating losses and negative cash flows from operations to continue as they invest in growing the business and expanding infrastructure. The company’s primary uses of cash include personnel, marketing, inventory, capital investment, and distribution center operating costs.
The company’s ability to fund operations will depend on their ability to generate cash in the future. Based on the current level of operations, the company believes their existing cash balances and expected cash flows from operations, alongside the continuance of existing financing arrangements, will be sufficient to meet operating requirements for at least the next 12 months, excluding financing to support production.
Critical Accounting Policies and Estimates
The company’s critical accounting policies and estimates include revenue reserves, accounts receivable and credit losses, inventory reserves, warrants, stock-based compensation, income taxes, and contingencies. These areas require significant judgment and assumptions that can materially impact the financial statements.