• FY25 revenue up 3% to $86.9 million
• FY25 EBITDA down 4% to $17.4 million
• FY25 net profit after tax up 1% to $12.6 million

Step One Clothing Limited (ASX:STP), a leading online direct-to-consumer underwear brand, has provided a trading update for the financial year ended 30 June 2025 (FY25). Based on preliminary and unaudited results, the company expects its FY25 financial results to be as follows: FY25 revenue of $86.9 million, representing a 3% growth compared to FY24; FY25 EBITDA of $17.4 million, representing a 4% decline compared to FY24; and FY25 net profit after tax of $12.6 million, representing a 1% growth compared to FY24. The company's cash and financial assets stood at $33 million as of the end of FY25, down from $39 million in FY24. Step One Founder and CEO, Greg Taylor, attributed the challenging year to subdued consumer spending and ongoing cost-of-living pressures, which have led to increased customer reliance on sale events and promotions, impacting the company's overall trading momentum and marketing investment. However, the company's product quality and strong customer loyalty have continued to set it apart in a competitive market, providing a firm foundation as it navigates these testing times.