Filing Flows › Reformation (REF) › Guidance & outlook
Reformation (REF) guidance and outlook
Reformation (REF) raised its guidance on Nov 5, 2026: Revenue +20% for FY2026; EBITDA margin 14.2% for FY2026; Revenue $610M–$612M for FY2026; Capital expenditures $26.0M–$27.0M for FY2026. Reformation's 10-Q filed Nov 6, 2026 makes 26 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | +20% | raised |
| EBITDA margin | FY2026 | 14.2% | raised |
| Revenue | FY2026 | $610M–$612M | raised |
| Capital expenditures | FY2026 | $26.0M–$27.0M | raised |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 6, 2026
- Our historical results are not necessarily indicative of the results that may be expected for any period in the future, and our interim results are not necessarily indicative of the results we expect for the full fiscal year or any other period.
- Our path forward is clear: we intend to grow by increasing our distribution through both our direct-to-consumer (“DTC”) and wholesale channels, expanding our product assortment within existing and new product categories, growing in international markets, and driving operational excellence.
- We have undertaken, and continue to evaluate, a series of actions and initiatives intended to mitigate the impact of tariffs, including diversifying our supply chain, engaging in cost-sharing discussions with our vendors, optimizing our product import logistics, and selectively adjusting product pricing.
- To continue to grow profitably, we intend to acquire new customers, retain those customers, drive repeat purchases and ultimately increase Active Customers and DTC Net Revenue per Customer at a reasonable cost.
- It is important that the cost of these efforts remain aligned with the net revenue and contribution margin we expect to generate from the customers acquired through such initiatives.
- By incorporating sustainable materials and processes into our product offerings, we aim to meet the growing consumer demand for sustainable fashion.
- This proactive approach enables us to align our inventory levels with anticipated customer demand, reducing the risk of overstocking or understocking.
- We expect this seasonality to continue in future years, subject to the timing and structure of our promotional sales strategy, including our twice-yearly promotional sales event and our annual Black Friday Cyber Monday promotion.
- We operate on a 52/53-week fiscal year convention whereby our fiscal year ends on the last Saturday in December of each year, such that each quarterly period will be 13 weeks in length, except during a 53-week year when the fourth quarter will be 14 weeks.
- In addition to the measures presented in our condensed consolidated financial statements, we use the following key operating metrics to evaluate our business, measure our performance, develop financial forecasts and make strategic decisions.
- • Expanding our product offerings across occasions and categories, through growth of existing categories, launching new categories and offering exclusive collections and collaborations that resonate with our target audience; and
- By focusing on increasing DTC Net Revenue per Customer, we aim to improve our overall financial performance and create long-term value for our shareholders.
Reformation's latest quarter
Reformation, Q3 2026: revenue $174M (+19% year over year), operating margin 4.3%, net loss $1.1M, operating cash flow $44.7M. The chart follows the revenue to costs, profit and cash.
Questions
Did Reformation raise or lower its guidance?
Reformation (REF) raised its guidance on Nov 5, 2026: Revenue +20% for FY2026; EBITDA margin 14.2% for FY2026; Revenue $610M–$612M for FY2026; Capital expenditures $26.0M–$27.0M for FY2026.
What does Reformation expect?
Our historical results are not necessarily indicative of the results that may be expected for any period in the future, and our interim results are not necessarily indicative of the results we expect for the full fiscal year or any other period. Our path forward is clear: we intend to grow by increasing our distribution through both our direct-to-consumer (“DTC”) and wholesale channels, expanding our product assortment within existing and new product categories, growing in international markets, and driving operational excellence. We have undertaken, and continue to evaluate, a series of actio
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.