Reformation Inc. reported second quarter fiscal 2026 results showing net revenue increased 24.1% to $155.2 million, driven by a 21.2% rise in direct-to-consumer sales and a 48.7% increase in wholesale revenue. Net income grew 79.4% to $12.4 million, or $0.23 per diluted share, while adjusted EBITDA expanded 53.9% to $25.4 million with an improved margin of 16.4%. The company also announced a special cash dividend of $1.63 per share, totaling approximately $90.0 million, funded by proceeds from a $92.0 million term loan amendment executed on June 17, 2026. Full-year fiscal 2026 revenue guidance is set between $602 and $606 million. Reformation Inc. operates as a sustainable women’s fashion brand with global retail stores and e-commerce platforms.

Reformation Inc. completed its initial public offering on July 31, 2026, selling 14,062,500 shares of common stock at $15.00 per share. The aggregate gross proceeds were approximately $210.9 million before underwriting discounts and expenses. This transaction included the sale of 4,583,679 shares by selling stockholders from whom the Company received no proceeds. Concurrently, the amended and restated Certificate of Incorporation and Bylaws became effective in connection with the closing. Reformation Inc. operates in the fashion industry, designing and selling sustainable apparel.