Filing Flows › Reformation (REF) › Q3 2026 › vs Q3 2025
Reformation (REF) Q3 2026 vs Q3 2025 (year over year)
Reformation's revenue rose $27.9M (+19%) from $146M in Q3 2025 to $174M in Q3 2026.
Reformation, Q3 2026: revenue $174M (+19% year over year), operating margin 4.3%, net loss $1.1M, operating cash flow $44.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 21.9% | 7.3% | +14.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $174M | $146M | $27.9M | +19% |
| Net loss | $1.1M | −$5.0M | $6.1M | — |
| Costs & expenses | $175M | $146M | $29.0M | +20% |
| Operating costs | $166M | $136M | $30.6M | +23% |
| Interest & other, net | $5.7M | $3.1M | $2.6M | +83% |
| Income tax | $2.9M | $2.1M | $776K | +37% |
| Cost of revenue | $68.7M | $61.3M | $7.4M | +12% |
| SG&A | $82.8M | $62.0M | $20.8M | +34% |
| Other operating costs | $14.6M | $12.2M | $2.4M | +20% |
| Operating cash sources | $45.8M | $19.7M | $26.1M | +133% |
| Depreciation & amortization | $4.5M | $3.4M | $1.1M | +32% |
| Share-based compensation | $11.0M | $290K | $10.7M | 38× |
| Working capital & other | $30.3M | $16.0M | $14.3M | +90% |
| Net loss absorbed | $1.1M | −$5.0M | $6.1M | — |
| Operating cash flow | $44.7M | $24.6M | $20.0M | +81% |
| Free cash flow (OCF − capex) | $38.0M | $10.6M | $27.4M | +258% |
| Capital expenditures | $6.7M | $14.1M | −$7.3M | -52% |
Questions
How much did Reformation's revenue grow year over year in Q3 2026?
Reformation's revenue rose $27.9M (+19%) from $146M in Q3 2025 to $174M in Q3 2026.