Group 1 - The core announcement is the appointment of Sharifa AlSudairi as a brand ambassador for Perfect Moment Ltd. [1] - Sharifa AlSudairi is recognized as Saudi Arabia's first female Alpine skier, which adds competitive credibility to the brand [1] - The appointment reflects the company's strategy to fuse technical excellence with fashion-led designs, enhancing its luxury lifestyle brand image [1]

Core Insights - Perfect Moment Ltd. is scheduled to present at the 2025 Annual Gateway Conference on September 4 at 10:30 a.m. Pacific Time [1][2] - The conference aims to connect growth-stage companies with potential investors, analysts, and partners [3][4] Company Overview - Perfect Moment is a luxury skiwear and lifestyle brand founded in Chamonix, France, known for its technical excellence and fashion-forward designs [6] - The brand is publicly traded on the NYSE American under the ticker symbol PMNT [6] Conference Details - The Gateway Conference will feature over 75 private and public companies across various sectors, providing investors and analysts access to senior executives [4] - Attendees can participate in one-on-one meetings with company representatives throughout the conference [2][4]

Financial Performance - Total net revenue for fiscal Q3 2025 was $11.7 million, a decrease of 8% from $12.7 million in the same year-ago quarter, primarily due to a $1.1 million decline in collaborations revenue[22]. - eCommerce net revenue declined 1% to $3.7 million compared to $3.8 million in the year-ago quarter, while wholesale revenue totaled $7.3 million, down 6% from $7.8 million[24]. - Net loss totaled $2.5 million or $(0.15) per basic and diluted share, compared to a net income of $1.2 million or $0.08 per diluted share in the year-ago period[26]. - Adjusted EBITDA totaled a negative $671,000, compared to positive $1.7 million in the year-ago quarter, primarily due to the collaboration with Hugo Boss that ended in fiscal 2024[27]. - Total revenue for the three months ended December 31, 2024, was $11,658, a decrease of 8.4% compared to $12,726 for the same period in 2023[40]. - Gross profit for the nine months ended December 31, 2024, was $8,819, down 15.1% from $10,388 in the same period of 2023[40]. - Net loss for the three months ended December 31, 2024, was $2,482, compared to a net income of $1,204 for the same period in 2023[40]. - Adjusted EBITDA for the three months ended December 31, 2024, was $(671), a decline from $1,749 in the same period of 2023[44]. Expenses and Liabilities - Total operating expenses increased 30% to $7.7 million from $5.9 million in the year-ago quarter, driven by increased SG&A expenses[26]. - Total liabilities rose to $12,327 as of December 31, 2024, from $4,846 as of March 31, 2024[41]. - The company incurred $1,046 in interest expense for the three months ended December 31, 2024, compared to $403 for the same period in 2023[44]. Cash and Assets - Cash, cash equivalents, and restricted cash totaled $4.1 million as of December 31, 2024, up from $2.6 million as of September 30, 2024, primarily due to increased cash from financing activities[28]. - Total current assets increased to $12,481 as of December 31, 2024, compared to $11,917 as of March 31, 2024[41]. - Cash and cash equivalents decreased to $2,772 as of December 31, 2024, down from $7,910 as of March 31, 2024[41]. - The company reported a significant increase in trade payables, which rose to $1,739 as of December 31, 2024, compared to $1,584 as of March 31, 2024[41]. Growth and Marketing Initiatives - The company launched a new AW24 collection and partnered with Johnnie Walker for a limited-edition Ice Chalet Scotch Whisky, enhancing brand visibility[6]. - Social media following reached 408,900, up 19.2% from the same year-ago quarter, with a total audience reach of over 299 million from global KOLs[12]. - The company plans to expand its outerwear product range, targeting the larger and faster-growing global luxury outerwear market[21]. Shareholder Information - The weighted average number of common shares outstanding (basic) increased to 16,177,559 as of December 31, 2024, from 5,233,402 as of December 31, 2023[40].

Revenue Performance - eCommerce gross revenue increased 27% to $1.7 million, with eCommerce net revenue up 8% to $1.2 million compared to $1.1 million in the year-ago quarter[1][27]. - Total net revenue decreased 35% to $3.8 million from $5.9 million in the same year-ago quarter, primarily due to a $2.0 million decline in collaborations revenue from the Hugo Boss partnership[3][26]. - Total revenue for the three months ended September 30, 2024, was $1,155,000, compared to $1,066,000 for the same period in 2023, representing an increase of 8.3%[43]. Profitability and Loss - Gross margin was 54.0%, down from 55.7% in the same year-ago quarter, attributed to lower sales and a higher percentage of lower margin eCommerce sales[4][28]. - Net loss was $2.7 million or $(0.17) per share, compared to a net loss of $0.8 million or $(0.29) per share in the year-ago period[30]. - Adjusted EBITDA was negative $2.0 million, compared to negative $958,000 in the year-ago quarter, primarily due to the conclusion of the Hugo Boss collaboration[31]. - The net loss for the three months ended September 30, 2024, was $2,744,000, compared to a net loss of $1,511,000 for the same period in 2023, indicating a worsening of 81.5%[47]. - The company reported a comprehensive loss of $(2,723,000) for the three months ended September 30, 2024, compared to $(772,000) for the same period in 2023, an increase of 252.5%[43]. - Adjusted EBITDA for the three months ended September 30, 2024, was $(1,996,000), compared to $(958,000) for the same period in 2023, indicating a decline of 108.7%[47]. Operating Expenses - Total operating expenses increased 29% to $4.6 million from $3.6 million in the year-ago quarter, driven by increased SG&A expenses[30]. - Total operating expenses for the three months ended September 30, 2024, were $4,628,000, up from $3,581,000 in the same period of 2023, an increase of 29.2%[43]. Cash and Liabilities - Cash and cash equivalents as of September 30, 2024, were $725,000, a significant decrease from $7,910,000 as of March 31, 2024[44]. - Total current liabilities increased to $10,580,000 as of September 30, 2024, compared to $4,802,000 as of March 31, 2024, an increase of 120.0%[44]. Inventory and Shares - Inventories as of September 30, 2024, were $5,331,000, up from $2,230,000 as of March 31, 2024, an increase of 139.5%[44]. - The weighted average number of common shares outstanding for the three months ended September 30, 2024, was 15,781,264, compared to 5,186,555 for the same period in 2023, an increase of 203.5%[43]. Strategic Initiatives - The company opened its first seasonal retail location in SoHo, New York City, in October, enhancing brand visibility and customer engagement[5][20]. - A new U.S. fulfillment center was established to improve shipping efficiency and reduce costs, expected to enhance gross margins in the second half of fiscal 2025[6][22]. - Social media following increased by 19.2% to 388,000, with global media coverage reaching over 203 million through key opinion leaders[8][9]. - The company launched a new AW24 collection and partnered with Johnnie Walker for a limited-edition product, aiming to enhance brand awareness and customer engagement[11][12].

Financial Performance - For the six months ended September 30, 2024, the company incurred a net loss of $6,132 and used cash in operations of $7,734, with an accumulated deficit of $55,109 as of the same date [25]. - Total revenue for the three months ended September 30, 2024 was $3,833, a decrease from $5,888 in the same period of 2023, with ecommerce revenues contributing $1,155 and wholesale revenues $2,678 [31]. - Revenue from Europe (excluding the UK) accounted for 51% of total revenues in the three months ended September 30, 2024, while the US contributed 25% and the UK 18% [36]. - The company had one major customer accounting for approximately 15% or $580 of total revenue for the three months ended September 30, 2024, and two major customers accounting for 23% or $1,089 for the six months ended [41]. Assets and Liabilities - As of September 30, 2024, accounts receivable net of allowances was $2,458, compared to $1,035 as of March 31, 2024 [33]. - Total long-lived assets as of September 30, 2024 were $440 in the UK and $74 in Hong Kong, compared to $557 and $98 respectively as of March 31, 2024 [38]. - As of September 30, 2024, total cash and cash equivalents amounted to $2,550,000, a decrease from $7,910,000 as of March 31, 2024 [61]. - Total inventories as of September 30, 2024, were $5,331,000, up from $2,230,000 as of March 31, 2024, reflecting an increase in finished goods [63]. - The company had a trade finance facility limit of $2,700,000 as of September 30, 2024, with an outstanding balance of $906,000 [66]. - The company’s total property and equipment, net, was $413,000 as of September 30, 2024, down from $502,000 as of March 31, 2024 [65]. Financing and Capital - The company plans to alleviate going concern doubts by exploring short-term loans, long-term funding sources, and additional equity financing [27]. - The company’s restricted cash as of September 30, 2024, was $1,825,000, representing amounts pledged as collateral against the trade finance facility [61]. - The outstanding balance of the notes was $2,593 as of September 30, 2024, after paying $399 during the period [71]. - The company issued 280,241 shares of restricted common stock valued at $329 for services rendered, with $111 amortized during the period [71]. - The company has $3,026 million in capital commitments related to purchase orders for finished goods, with $888 million financed by HSBC letters of credit [91]. Expenses and Costs - The company recorded a depreciation expense of $106,000 for property and equipment for the three months ended September 30, 2024 [65]. - The company recorded an unamortized balance of $811 for the debt discount related to future receipts as of September 30, 2024 [71]. - The total stock compensation expense recognized for stock options was $508 for the six months ended September 30, 2024, compared to $14 for the same period in 2023 [78]. - The total fair value of restricted stock units that vested during the period was $204, included in selling, general, and administrative expenses [74]. Risks and Concerns - The company is exposed to interest rate risk, particularly related to financing arrangements tied to HIBOR or SOFR, but does not expect significant impact on operations [101]. - The company is beginning to observe increases in costs of goods sold, particularly transportation costs, which may affect financial performance if inflation persists [225]. - Revenue is primarily generated in U.S. dollars, U.K. pounds, and euros, exposing the company to foreign exchange risk, particularly with fluctuations in the U.K. pound and euro [227]. - Legal proceedings, including the ASC Suit, are not expected to have a material adverse effect on the company's financial condition [89]. Related Party Transactions - Related party transactions for consulting services amounted to $112 thousand for the three months ended September 30, 2024 [94].

Revenue Performance - Gross revenue increased 43% to $1.9 million from $1.3 million in the same year-ago quarter[2] - Total net revenue decreased 1% to $974,000 from $988,000 in the same year-ago quarter, primarily due to increased eCommerce customer returns[14] - eCommerce net revenue decreased 4% to $922,000 compared to $957,000 in the year-ago quarter[15] - Wholesale revenue totaled $52,000, up 68% compared to $31,000 in the year-ago quarter[15] - Total revenue for the three months ended June 30, 2024, was $974,000, a decrease of 1.4% compared to $988,000 for the same period in 2023[24] Profitability - Gross profit decreased 26% to $356,000 from $482,000 in the year-ago quarter, with gross margins at 36.6% compared to 48.8%[15] - Gross profit for the same period was $356,000, down 26.1% from $482,000 year-over-year[24] - Net loss was $3.4 million or $(0.22) per basic and diluted share, compared to a net loss of $2.7 million or $(0.55) per basic and diluted share in the year-ago period[16] - Net loss for the three months ended June 30, 2024, was $3,388,000, compared to a net loss of $2,673,000 in the same period last year[24] - Adjusted EBITDA for the three months ended June 30, 2024, was $(2,907,000), worsening from $(1,963,000) in the prior year[28] Cash and Assets - Cash, cash equivalents, and restricted cash totaled $4.0 million at June 30, 2024, down from $7.9 million at March 31, 2024[16] - Cash and cash equivalents decreased significantly to $1,102,000 from $7,910,000 as of March 31, 2024[25] - Total current assets fell to $8,663,000, down from $11,917,000 at the end of the previous quarter[25] - Total liabilities decreased slightly to $4,558,000 from $4,846,000 as of March 31, 2024[25] - Shareholders' equity dropped to $4,731,000 from $7,763,000 in the previous quarter[25] Business Development - The company launched a Summer Capsule Collection and a product resale program, "Perfect Second Moment," to expand its product offerings[3] - Perfect Moment secured its first pop-up retail location in SoHo, New York City, with a grand opening planned for October[8] - Total number of global unique visitors per month reached more than 1.4 billion during the first quarter of fiscal 2025[7] Operating Expenses - Operating expenses increased to $3,751,000, up 17.6% from $3,191,000 in the prior year[24] - The weighted average number of common shares outstanding increased to 15,653,449 from 4,854,061 year-over-year[24]

Financial Performance - For the three months ended June 30, 2024, the company reported a net loss of $3,388 and used cash in operations of $3,880, with an accumulated deficit of $52,365 as of June 30, 2024[18]. - Total revenues for the three months ended June 30, 2024, were $974, a decrease from $988 for the same period in 2023, with wholesale revenues at $52 and ecommerce revenues at $922[23]. - Gross profit for the three months ended June 30, 2024 was $356 million, a decrease of $126 million or 26% from $482 million in the prior year, with gross margins dropping to 36.5% from 48.8%[79]. - Adjusted EBITDA for the three months ended June 30, 2024, was a loss of $2,907 million, compared to a loss of $1,963 million in the same period of 2023[125]. - The company recorded a net loss of $3,388 for the three months ended June 30, 2024, compared to a net loss of $2,673 in the same period in 2023[138]. Cash Flow and Liquidity - As of June 30, 2024, cash and cash equivalents totaled $1,102, with restricted cash of $2,850, and an accumulated deficit of $52,365[129]. - Cash balances decreased to $3,465 million as of June 30, 2024, from $7,187 million at March 31, 2024[63]. - Net cash used in operating activities for the three months ended June 30, 2024 was $3,880, compared to $803 for the same period in 2023[137]. - The company had no cash flows from financing activities in Q2 2024, while Q2 2023 provided $1,242 mainly from common share issuance[142]. - The company plans to alleviate going concern doubts by exploring short-term loans, long-term funding sources, and improving margins in the next financial year[19]. Inventory and Supply Chain - The company experienced a significant supplier concentration, with Toray International Inc. supplying 52% of the fabric used in manufacturing for the three months ended June 30, 2024[28]. - The total inventories, net as of June 30, 2024, were $2,018,000, down from $2,230,000 as of March 31, 2024, indicating a decrease of about 9.5%[48]. - The Company periodically reviews its inventories and makes provisions for obsolete, damaged, or quality-issue goods, adjusting the provision based on market conditions and future demand[153]. Revenue Breakdown - The company operates primarily in one business segment, product sales, with geographic revenue distribution as follows: U.S. (38%), U.K. (25%), Europe (excluding U.K.) (18%), and Rest of the World (19%) for the three months ended June 30, 2024[26]. - Ecommerce revenue decreased by $35 million or 3.7% to $922 million, while wholesale revenue increased by $21 million or 67.7% to $52 million[111]. - The return rate on discounted products increased to 49% for the three months ended June 30, 2024, compared to 34% for the same period in 2023[75]. Expenses and Cost Management - Selling, general and administrative (SG&A) expenses rose by $816 million or 33% to $3,298 million, driven by increased stock compensation and personnel costs[116]. - Marketing and advertising expenses decreased by $256 million or 36% to $453 million, attributed to lower stock compensation and reduced photoshoot costs[117]. - Cost of goods sold increased by $112 million or 22% to $618 million, primarily due to increased import duty and freight[114]. Strategic Initiatives - The company plans to shift towards direct-to-consumer revenue, expecting a double-digit percentage point improvement in gross margin over time due to channel mix[82]. - The company aims to broaden its product offering, including expanding into activewear, loungewear, and swimwear, to reduce seasonality and increase revenues[99]. - The company is exploring entry into the Chinese market, projected to become the largest winter sports market, with a small inventory test on Tmall planned for November 2024[93]. - The company plans to open pop-up stores in strategic locations starting in fiscal year 2025, with a six-month lease already executed for a pop-up in SOHO, New York[102]. Stock and Compensation - The Company had 1,616,550 options to acquire common stock as of June 30, 2024, compared to 299,957 in the previous year[37]. - The total stock compensation expense recognized for the three months ended June 30, 2024, was $293 million, compared to $10 million for the same period in 2023[57]. - The intrinsic value of the outstanding options under the 2021 Plan was $350 million as of June 30, 2024[57]. Market and Economic Conditions - The company has substantial doubt about its ability to continue as a going concern, as noted by its independent registered public accounting firm[136]. - The Company is beginning to observe increases in costs of goods sold, particularly in transportation, which may affect financial performance if inflation persists[159]. - Revenue is primarily generated in U.S. dollars, U.K. pounds, and euros, exposing the Company to foreign exchange risk due to currency fluctuations[161].

Financial Performance - Total net revenue for fiscal 2024 increased 4% to a record $24.4 million, driven by eCommerce sales which rose 21% to $10.4 million[12][14] - Net loss improved to $8.7 million or $(1.34) per share, compared to a net loss of $10.3 million or $(2.16) per share in the prior year[3][31] - Total operating expenses decreased by 3% to $16.9 million, reflecting cost management efforts[15] - Adjusted EBITDA was negative $5.9 million for the fiscal year ending March 31, 2024, compared to negative $2.5 million in the prior year, reflecting increased investments in brand awareness[52] Profitability and Margins - Gross profit improved by 40 basis points to 37.8%, attributed to strategic changes in eCommerce and improved supply chain management[2][30] - Gross profit increased by 5% to $9.2 million from $8.8 million year-over-year, attributed to higher sales and improved eCommerce margins[50] eCommerce Growth - eCommerce revenue rose by 21% to $10.4 million for the fiscal year ending March 31, 2024, up from $8.6 million in the previous year[49] - Local distribution centers are expected to improve eCommerce margins by reducing shipping costs and enhancing customer experience[26] - Plans to open a new distribution center in the U.S. during the current fiscal year to enhance eCommerce operations and gross margins[46] Brand Awareness and Market Expansion - Total global unique visitors per month to digital media coverage exceeded 7.5 billion, enhancing brand awareness[1][7] - Social media followers increased by 19% year-over-year to over 387,000, making the brand one of the most followed luxury skiwear brands[6] - The company launched a Summer Capsule Collection aimed at expanding its product range into the global luxury lifestyle market[44] - The company plans to broaden its product range beyond core skiwear, including year-round accessories[27] Financial Health - Cash, cash equivalents, and restricted cash totaled $7.9 million at March 31, 2024, up from $4.7 million a year earlier, primarily due to IPO proceeds[16][32] - Total current assets increased to $11,917,000 as of March 31, 2024, compared to $8,679,000 in the prior year, representing a growth of 37.5%[40] - Current liabilities decreased significantly to $4,802,000 from $13,954,000 in the prior year, indicating improved financial health[40] - Total stockholders' equity increased to $7,763,000 as of March 31, 2024, compared to a deficit of $4,141,000 in the previous year, marking a substantial turnaround[40] Wholesale Revenue - Wholesale revenue decreased by 6% to $14.1 million, attributed to higher purchase activity in the previous fiscal year[29] Market Opportunities - The global luxury outerwear market is ten times larger and growing faster than the global luxury ski wear market, presenting significant growth opportunities[48]

Corporate Governance - The company has established an audit committee, a compensation committee, and a nominating and corporate governance committee to enhance corporate governance[187]. - The audit committee is chaired by Andre Keijsers, who is designated as an "audit committee financial expert" and is responsible for overseeing the integrity of financial statements[189][192]. - The company intends to comply with the heightened independence requirements for all members of the audit committee within the specified time periods following its listing on NYSE American[188]. - The compensation committee is responsible for evaluating the performance of the CEO and determining executive compensation[193]. - The nominating and corporate governance committee will oversee the evaluation of the board of directors and management, ensuring appropriate skills and expertise are present[196]. - The board of directors may establish additional committees as needed to address corporate governance and oversight[187]. Financial Reporting and Compliance - The company has a commitment to transparency and compliance with legal and regulatory requirements related to financial reporting[192]. - The audit committee's responsibilities include reviewing annual and quarterly financial statements and assessing the independence of the independent registered public accounting firm[190][192]. Risk Factors - The company has identified various risk factors that could impact future performance, which are detailed in the Annual Report[15]. - Revenue has primarily been generated in U.S. dollar, U.K. pound sterling, and euro, exposing the company to foreign exchange risk due to fluctuations in these currencies[209]. - The company has not hedged its foreign currency exposure to date and will continue to monitor the impact of foreign exchange risk[209]. - The company is beginning to observe increases in costs of goods sold, particularly in transportation costs, which may harm its business if inflationary pressures persist[204]. Leadership Changes - The company has appointed a new Chief Financial Officer, Mr. Clayborne, who has over 25 years of experience in finance and business development[198].

Financial Performance - Fiscal Q3 2024 net income was $1.2 million, or $0.23 per basic share and $0.08 per diluted share, driven by eCommerce sales up 23% to a record $3.8 million[5]. - Total revenue for the nine-month period reached a record $19.6 million, reflecting a 1% increase compared to the same year-ago period[24]. - Total revenue for Q3 2023 was $12,726,000, a decrease of 21.5% compared to $16,146,000 in Q3 2022[38]. - Net income for Q3 2023 was $1,204,000, compared to $3,267,000 in Q3 2022, reflecting a decline of 63.1%[38]. - Adjusted EBITDA for Q3 2023 was $1,749,000, down from $4,074,000 in Q3 2022, indicating a decrease of 57.0%[45]. eCommerce Growth - eCommerce revenue increased 28% to $5.8 million, representing 29% of total revenue, up from 23% in the same year-ago quarter[25]. - Ecommerce revenue increased to $3,752,000 in Q3 2023, up 23.2% from $3,045,000 in Q3 2022[38]. Cost Management - Gross margin improved to 39.0%, up from 36.6% in the same year-ago period, driven by less discounting and fewer discount windows[27]. - Total operating expenses decreased 24% to $9.9 million, primarily due to reduced SG&A and marketing expenses[28]. - Gross profit for Q3 2023 was $4,866,000, representing a gross margin of 38.3%, down from 38.5% in Q3 2022[38]. Financial Position - Cash position post-IPO was $9.8 million with no long-term debt, enhancing financial resources for growth initiatives[7][23]. - Total current assets increased to $11,459,000 as of December 31, 2023, compared to $8,679,000 on March 31, 2023[40]. - Total liabilities rose to $18,415,000 as of December 31, 2023, up from $13,962,000 on March 31, 2023[40]. - The company reported an accumulated deficit of $43,235,000 as of December 31, 2023, compared to $40,255,000 on March 31, 2023[40]. - Cash and cash equivalents decreased to $3,370,000 as of December 31, 2023, from $4,712,000 on March 31, 2023[40]. Market Outlook - The luxury outerwear market is projected to grow at a 6.5% CAGR to reach $23.2 billion by 2028, providing a favorable environment for expansion[16]. Brand Engagement - The total number of global unique visitors per month reached over 4 billion during the quarter, indicating strong digital media coverage[5]. - Perfect Moment's social media followers exceeded 343,000, up nearly 20% year-over-year, enhancing brand engagement[5]. Future Initiatives - The company plans to launch a summer product line and a new direct-to-consumer 'capsule' collection for autumn, aiming for smoother quarterly results[12].