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].
Perfect Moment(PMNT) - 2024 Q4 - Annual Results