Earnings ·
Perfect Moment Ltd. reported fiscal first quarter 2026 results ending June 30, 2026
PMNTPerfect Moment Ltd.
Perfect Moment Ltd. reported fiscal first quarter 2026 results ending June 30, 2026. Revenue declined 21.9% to $1.2 million from $1.5 million in the prior year period, driven by lower eCommerce sales as the company transitions to a full-price luxury model, partially offset by a 268% increase in wholesale revenue to $563,000. Gross margin contracted 580 basis points to 54.5%, while total operating expenses decreased slightly to $3.89 million. The net loss narrowed to $3.5 million, or $(0.07) per diluted share, compared to a $3.8 million loss in the prior year, aided by reduced interest expense following financing restructuring. The company raised $2.0 million through a securities purchase agreement in May 2026 and held $0.7 million in cash at quarter-end. Perfect Moment Ltd. operates as a luxury outerwear and activewear brand.