FY26 Results Announcement

• Revenue of $63.7 million, down 26.7% year-on-year
• Reported EBITDA loss of $7.4 million; Adjusted EBITDA profit of $1.7 million
• Adjusted gross margin of 75.9%, slightly down from prior year
• Strong balance sheet with $25.8 million in cash and no debt
• Customer database exceeded two million for the first time

Step One Clothing Ltd announced its financial results for the year ended 30 June 2026. The company reported a revenue of $63.7 million, a 26.7% decrease from the previous year, reflecting subdued consumer demand and a reduction in discounting. The company reported an EBITDA loss of $7.4 million compared to a profit of $17.4 million in FY25. Adjusted EBITDA profit was $1.7 million, and adjusted gross margin was 75.9%. The company's balance sheet remained strong with $25.8 million in cash and no debt. The customer database grew to over two million for the first time.