Earnings ·
Perfect Moment reports Q1 revenue of $1.2M, down 21.9%, with net loss narrowing to $3.5M
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.