Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q4 results reflect continued top-line pressure. Fiscal Q4 revenue declined 12.9% to $293.1 million, with Consumer Floral & Gifts down 13.4% and Gourmet Foods & Gift Baskets down 15.4%, partially offset by 1.9% growth at BloomNet. Adjusted EBITDA was a loss of $31.0 million compared with a loss of $24.2 million in the prior-year period, as revenue deleverage and cost pressures more than offset operating efficiencies.
Underlying trends provide signs of progress. Importantly, Consumer Floral & Gifts gross margin rose 220 basis points to 40.7%, while contribution margin remained relatively stable. Management also indicated that the flowers category is now generating positive sales on many days and weeks, providing early evidence that changes to merchandising, fulfillment, and the digital customer experience may be improving the underlying revenue trajectory.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Copart (NASDAQ: CPRT) is making the largest acquisition in its history, agreeing to buy ACV Auctions (NYSE: ACVA) for approximately $1.9 billion in cash in a deal that would significantly broaden Copart’s reach across the vehicle remarketing market.
Under the agreement announced Thursday, Copart will pay $10.50 per share for ACV, representing a premium of approximately 45% to ACV’s unaffected closing price on August 10, the last trading day before reports of a potential transaction surfaced, and a 41% premium to its 30-day volume-weighted average price through September 9. The deal is expected to close by the end of 2026, subject to customary conditions.
Investors responded quickly. ACV shares surged roughly 44% in premarket trading Friday, moving close to the $10.50 offer price, while Copart shares were also higher before the open.
Expanding Beyond Salvage Auctions
Copart is best known for online auctions of salvage and damaged vehicles, with a global buyer network spanning approximately 1 million members in more than 185 countries. The company operates more than 250 locations across 11 countries and sold more than 4 million vehicles over the past year.
ACV gives Copart a much stronger position in a different part of the market: dealer-to-dealer wholesale vehicle sales.
ACV operates a digital marketplace that allows dealers and commercial sellers to buy and sell used vehicles online, supported by inspection technology, vehicle condition data and AI-powered valuation tools. That business complements Copart’s strength in salvage disposition and international resale, allowing the combined company to participate across more of the vehicle lifecycle.
Management describes the combination as creating a full-spectrum digital remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition and international resale.
What Vehicle Remarketing Actually Means
Vehicle remarketing is the process of reselling used vehicles after they leave their original owner, lease, rental fleet, insurance claim or dealership inventory.
It is a large but fragmented ecosystem. Insurance companies sell damaged or totaled vehicles. Dealers wholesale cars they do not want to keep in inventory. Rental companies and fleet operators periodically dispose of large numbers of vehicles. Financial institutions remarket repossessed or off-lease vehicles.
Historically, many of those transactions ran through physical auctions. Increasingly, they are moving online.
Copart helped pioneer that transition in salvage vehicles, while ACV built a digital-first marketplace aimed primarily at dealers. Bringing the two together gives Copart access to a much broader pool of vehicles before they ever reach the salvage portion of the market.
That is the strategic logic behind the transaction: rather than serving only one segment of the resale process, Copart wants to participate in more of the market from the time a vehicle leaves a dealership or fleet through its eventual wholesale, salvage or export sale.
ACV Adds Data and Technology
The acquisition is not only about auction volume.
ACV has invested heavily in inspection technology and data services designed to give buyers more confidence when purchasing vehicles remotely. Its tools include digital condition reports, valuation systems and AI-driven inventory analytics for dealers.
Copart said combining those capabilities with its own technology and extensive vehicle dataset could create one of the industry’s largest pools of vehicle condition information. Management believes that data can support improved pricing, inspection and resale decisions across the combined platform.
The companies also see potential to cross-sell buyers and sellers between their marketplaces, expand transportation services and grow commercial vehicle activity.
Scale Matters in Online Auto Auctions
The economics of vehicle marketplaces tend to improve with scale.
More sellers attract more buyers, while more buyers can improve auction liquidity and pricing for sellers. A larger transaction base also generates more vehicle data, which can improve valuation models and inspection tools.
Copart already brings substantial physical infrastructure to that equation. Its more than 250 locations provide storage, logistics and processing capabilities that ACV, as a more digitally focused business, does not have at the same scale. ACV contributes a national dealer and inspector network along with its dealer-facing technology.
That combination gives the merged business both digital reach and physical infrastructure — an increasingly important distinction as the auto-auction industry moves further online.
A New Growth Avenue for Copart
The deal also comes as Copart looks for additional growth beyond its core salvage business.
Recent industry commentary has pointed to slower vehicle-volume growth in some parts of the salvage market, creating an incentive for established operators to broaden their exposure to traditional wholesale vehicles and technology-enabled services.
ACV provides that expansion immediately.
Copart said the transaction should accelerate revenue growth and expects it to be roughly neutral to earnings per share in the first full year of ownership before becoming accretive beginning in fiscal 2028. The company plans to fund the acquisition entirely with cash on hand, and the transaction is not subject to a financing condition.
ACV will continue operating as an independent subsidiary of Copart under its existing leadership after the acquisition closes.
Market Reaction Reflects the Deal Premium
The sharp move in ACV shares is largely a straightforward response to the acquisition price.
The stock jumped more than 40% after the announcement and traded near the $10.50 cash offer Friday morning, effectively closing much of the gap between its prior market price and the agreed transaction value.
Interestingly, investors also reacted positively to Copart. Its shares rose about 6% in premarket trading despite the company reporting quarterly results that were somewhat softer than expected, suggesting the market sees meaningful strategic value in the acquisition.
That is notable because large acquisitions often pressure the buyer’s stock initially as investors weigh integration costs, execution risks and the price being paid.
In this case, the early reaction suggests investors are focused on the opportunity for Copart to expand into a larger portion of the vehicle remarketing market.
Building an End-to-End Vehicle Marketplace
For Copart, ACV represents more than simply adding another auction platform.
The acquisition gives the company an immediate foothold in dealer-to-dealer wholesale vehicles, adds a suite of data and valuation technologies and expands the number of transactions that can flow through its global buyer network and physical infrastructure.
It also moves Copart closer to becoming an end-to-end vehicle remarketing platform capable of serving vehicles across a much broader range of conditions and ownership situations.
For investors, the question now becomes whether Copart can successfully connect ACV’s dealer marketplace with its own enormous global auction network and infrastructure.
If it can, the company’s largest-ever acquisition could open a meaningful new growth channel well beyond the salvage auctions that built the business.
Net Sales Increased 11.7% to $81.8 Million vs. 2Q25 Raises Full Year Fiscal 2026 Guidance
NEW YORK–(BUSINESS WIRE)– Vince Holding Corp. (Nasdaq: VNCE) (“VNCE” or the “Company”), a global retail platform, today reported its financial results for the second quarter ended August 1, 2026.
Brendan Hoffman, Chief Executive Officer of VNCE said, “We delivered strong results this quarter, with excellent growth across both our direct-to-consumer and wholesale channels, and this momentum gives us confidence to raise our full-year guidance. Importantly, the recent completion of the OVO acquisition marks a pivotal moment for our Company. We are entering the streetwear market through a brand with deep cultural roots and an authentic customer connection, and we’re bringing to it the operating discipline and infrastructure that have driven Vince’s turnaround. The acquisition provides a significant growth runway and we see meaningful opportunities to expand OVO’s retail presence and launch wholesale distribution through longstanding relationships, positioning the combined platform for substantial long-term value creation.”
In this press release, the Company is presenting its financial results in conformity with U.S. generally accepted accounting principles (“GAAP”) as well as on an “adjusted” basis. Adjusted results presented in this press release are non-GAAP financial measures. See “Non-GAAP Financial Measures” below for more information about the Company’s use of non-GAAP financial measures.
For the second quarter ended August 1, 2026:
Total Company net sales increased 11.7% to $81.8 million compared to $73.2 million in the second quarter of fiscal 2025. The year-over-year increase was driven by a 13.7% increase in the direct-to-consumer segment and a 10.4% increase in the wholesale segment.
Gross profit was $49.8 million, or 60.9% of net sales, compared to gross profit of $36.9 million, or 50.4% of net sales, in the second quarter of fiscal 2025. The increase in gross margin for the second quarter of fiscal 2026 includes a favorable impact of $10.4 million related to the IEEPA tariff refund, which offset the unfavorable impact from higher product costing which contributed negatively by approximately 160 basis points, and the unfavorable impact from higher freight costs of approximately 130 basis points. The gross margin rate, excluding the benefit of the tariff refund, was 48.2% in line with the Company’s expectations.
Selling, general, and administrative expenses were $36.3 million, or 44.3% of sales, compared to $25.8 million, or 35.2% of sales, in the second quarter of fiscal 2025. The increase in SG&A dollars was primarily driven by anniversarying last year’s $5.6 million benefit from the receipt of payroll tax credit payments from the U.S. Department of the Treasury under the Employee Retention Credit program (the “ERC benefit”) as well as $2.9 million related to transaction costs associated with the acquisition of October’s Very Own (“OVO”) operating business (“OVO transaction”).
Income from operations was $13.6 million compared to income from operations of $11.2 million in the same period last year. Adjusted income from operations, which includes the benefit from tariff refunds in the second quarter of fiscal 2026, was $16.4 million compared to $5.5 million in the same period last year.
Income tax expense was $3.1 million compared to an income tax expense of $0.1 million in the same period last year. The expense is due to the impact of applying the Company’s estimated annual effective tax rate to the year-to-date ordinary pre-tax income.
Net income was $10.6 million or $0.80 per diluted share compared to net income of $12.1 million or $0.93 per diluted share in the same period last year. Adjusted net income, which includes the benefit from tariff refunds in the second quarter of fiscal 2026, was $13.5 million or $1.02 per diluted share compared to $4.9 million or $0.38 in the same period last year.
Adjusted EBITDA*, which includes the benefit from tariff refunds in the second quarter of fiscal 2026, was $18.0 million compared to $6.7 million in the same period last year.
The Company ended the quarter with 53 company-operated Vince stores.
Second Quarter Review
Net sales increased 11.7% to $81.8 million as compared to the second quarter of fiscal 2025.
Wholesale segment sales increased 10.4% to $49.4 million compared to the second quarter of fiscal 2025.
Direct-to-consumer segment sales increased 13.7% to $32.4 million compared to the second quarter of fiscal 2025.
Income from operations excluding unallocated corporate expenses was $29.1 million compared to income from operations of $17.3 million in the same period last year.
Net Sales and Operating Results by Segment:
Balance Sheet
At the end of the second quarter of fiscal 2026, total borrowings under the Company’s debt agreements totaled $12.3 million and the Company had $63.6 million of excess availability under its revolving credit facility.
Net inventory at the end of the second quarter of fiscal 2026 was $73.4 million compared to $76.7 million at the end of the second quarter of fiscal 2025. The year-over-year decrease in inventory includes approximately $2.6 million of IEEPA refunds.
During the quarter ended August 1, 2026, the Company did not make any offerings or sales of shares of common stock under the Virtu At-the-Market Offering. At August 1, 2026, $0.9 million was available under the Virtu At-the-Market Offering.
October’s Very Own (“OVO”) Acquisition
As previously announced on August 27, 2026, the Company completed the acquisition of the operating business of OVO, a globally recognized lifestyle brand which delivered nearly $50 million in sales in calendar year 2025. VNCE now owns and will operate OVO’s business as OVO’s core apparel and retail licensee, strengthening its partnership with Authentic Brands Group (“Authentic”) and expanding its multi-brand platform strategy beyond Vince, with opportunity to build on OVO’s existing operations using its scale and infrastructure to support the brand’s next phase of growth. The Company sees opportunity to grow OVO sales to over $100 million and deliver Adjusted EBITDA margins in the low double digit percentage range by fiscal 2030. VNCE acquired the OVO operating business for a nominal cash purchase and also acquired a minority stake in OVO’s intellectual property through the cash purchase of a 5% equity interest in the IP holding entity newly formed by majority-owner, Authentic, for $6 million.
Outlook
The Company is providing its outlook for the Vince Business for the third quarter of fiscal 2026 and raising its outlook for the Vince Business for the full year fiscal 2026. The Company’s outlook now considers the benefit of tariff refunds resulting from the Supreme Court’s decision on the IEEPA tariffs. The following outlook does not include the OVO Business.
For the third quarter of fiscal 2026 the Company expects the following for the Vince Business:
Net sales to increase approximately 5% to 8% compared to the prior year period.
Adjusted operating income as a percentage of net sales to be approximately 7.5% to 8.5%.
Adjusted EBITDA as a percentage of net sales to be approximately 8.5% to 9.5%.
For fiscal 2026 the Company expects the following for the Vince Business:
Net sales to increase approximately 8% to 10% compared to the prior year.
Adjusted operating income as a percentage of net sales to be approximately 7.5% to 8.0%.
Adjusted EBITDA as a percentage of net sales to be approximately 9.0% to 9.5%.
*Non-GAAP Financial Measures
In addition to reporting financial results in accordance with GAAP, the Company has provided, with respect to the financial results relating to the three and six months ended August 1, 2026 and August 2, 2025, adjusted EBITDA, which is a non-GAAP measure. Adjusted EBITDA is calculated as earnings before interest, taxes, depreciation and amortization, share-based compensation, capitalized cloud computing amortization, OVO transaction costs, and ERC Benefit. For the three and six months ended August 1, 2026 and August 2, 2025 respectively, the Company has provided adjusted income from operations, adjusted income (loss) before income taxes and equity in net income of equity method investment, adjusted income (loss) before equity in net income of equity method investment, adjusted net income, and adjusted earnings per share, which are non-GAAP measures, in order to eliminate the effect of the OVO transaction costs, ERC benefit, and Discrete Tax Effect Associated with ERC benefit.
The Company believes that the presentation of these non-GAAP measures facilitates an understanding of the Company’s continuing operations without the impact associated with the aforementioned items. While these types of events can and do recur periodically, they are excluded from the indicated financial information due to their impact on the comparability of earnings across periods. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of GAAP to non-GAAP results has been provided in Exhibit 3 and Exhibit 4 to this press release.
Conference Call
A conference call to discuss the second quarter results will be held today, September 10, 2026, at 8:30 a.m. ET, hosted by Vince Holding Corp. Chief Executive Officer, Brendan Hoffman, and Chief Financial Officer, Yuji Okumura. During the conference call, the Company may make comments concerning business and financial developments, trends and other business or financial matters. The Company’s comments, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.
Those who wish to participate in the call may do so by dialing (833) 461-5787, conference ID 879266281. Any interested party will also have the opportunity to access the call via the Internet at http://investors.vince.com/. To listen to the live call, please go to the website at least 15 minutes early to register and download any necessary audio software. For those who cannot listen to the live broadcast, a recording will be available for 12 months after the date of the event. Recordings may be accessed at http://investors.vince.com.
ABOUT VINCE HOLDING CORP.
Vince Holding Corp. is a global retail platform that operates the Vince brand women’s and men’s ready to wear business and the October’s Very Own (“OVO”) brand apparel and accessories business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Vince operates 41 full-price retail stores, 12 outlet stores, and its e-commerce site, vince.com, as well as through premium wholesale channels globally. OVO is a Canadian lifestyle brand originally founded in 2008 by Aubrey “Drake” Graham and a Toronto collective offering premium apparel and accessories. OVO operates 12 flagship retail stores worldwide and its e-commerce site, octobersveryown.com. Please visit investors.vince.com for more information.
Forward-Looking Statements: This document, and any statements incorporated by reference herein contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include the statements under “Outlook” above as well as statements regarding, among other things, our current expectations about possible or assumed future results of operations of the Company and are indicated by words or phrases such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “estimate,” “plan,” “target,” “project,” “forecast,” “envision” and other similar phrases. Although we believe the assumptions and expectations reflected in these forward-looking statements are reasonable, these assumptions and expectations may not prove to be correct and we may not achieve the results or benefits anticipated. These forward-looking statements are not guarantees of actual results, and our actual results may differ materially from those suggested in the forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, some of which are beyond our control, including, without limitation: changes to and unpredictability in the trade policies and tariffs imposed by the U.S. and the governments of other nations; general economic conditions; our ability to maintain adequate cash flow from operations or availability under our revolving credit facility to meet our liquidity needs; restrictions on our operations under our credit facilities; our ability to improve our profitability; our ability to maintain our larger wholesale partners; our ability to accurately forecast customer demand for our products; our ability to maintain the license agreement relating to the Vince brand with ABG Vince; ABG Vince’s expansion of the Vince brand into other categories and territories; ABG Vince’s approval rights and other actions; our ability to realize the benefits of our strategic initiatives; our ability to make lease payments when due; our ability to open retail stores under favorable lease terms and operate and maintain new and existing retail stores successfully; our operating experience and brand recognition in international markets; our ability to remediate the identified material weakness in our internal control over financial reporting; our ability to comply with domestic and international laws, regulations and orders; increased scrutiny regarding our approach to sustainability matters and environmental, social and governance practices; competition in the apparel and fashion industry; our ability to attract and retain key personnel; seasonal and quarterly variations in our revenue and income; the protection and enforcement of intellectual property rights relating to the Vince brand; our ability to successfully integrate, operate and grow the OVO business (the “OVO Transaction”) and realize the anticipated benefits of the OVO Transaction; the extent of our foreign sourcing; our reliance on independent manufacturers; our ability to ensure the proper operation of the distribution facilities by third-party logistics providers; fluctuations in the price, availability and quality of raw materials; the ethical business and compliance practices of our independent manufacturers; our ability to mitigate system or data security issues, such as cyber or malware attacks, as well as other major system failures; our ability to adopt, optimize and improve our information technology systems, processes and functions; our ability to comply with privacy-related obligations; our status as a “controlled company”; our status as a “smaller reporting company”; and other factors as set forth from time to time in our Securities and Exchange Commission filings, including those described under “Item 1A—Risk Factors” in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We intend these forward-looking statements to speak only as of the time of this release and do not undertake to update or revise them as more information becomes available, except as required by law.
Reports Fiscal Year 2026Revenue of $1.50 billion, a Net Loss of $134.8 million, which includes a $45.2 million Non-Cash Goodwill and Intangible Impairment Charge, and Adjusted EBITDA1 of $2.9 million
Company Amends Credit Agreement to Enhance Financial Flexibility and Evaluates a Range of Capital Raising Options to Optimize Capital Structure and Support Strategic Initiatives
Provides Outlook for Fiscal Year 2027
JERICHO, N.Y.–(BUSINESS WIRE)– 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of thoughtful expressions designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2026 fourth quarter and year ended June 28, 2026.
“Fiscal 2026 was a year of meaningful progress as we strengthened the foundation of our business and positioned the Company for its next phase of transformation,” said Adolfo Villagomez, Chief Executive Officer of 1-800-Flowers.com. “We strengthened our leadership team, began to modernize our digital and marketing capabilities, simplified how we operate, and became a more customer-first, data-driven organization. As we enter fiscal 2027, accelerating the recovery of our revenue trends is our highest priority. We will continue building these capabilities while increasingly putting them to work to improve customer acquisition, engagement, and retention and to drive better business performance over time.”
“As part of our continued efforts to enhance our financial flexibility and support the ongoing transformation of the business, we recently amended our credit agreement to provide additional financial flexibility,” continued Mr. Villagomez. “We are also evaluating a range of options, including the sale of non-strategic assets and capital raising options, intended to optimize our capital structure and support investments in our transformation and drive future growth. While this work is underway, we remain focused on executing our fiscal 2027 priorities and improving the fundamental drivers of our business.”
Credit Agreement Amendment
The Company announced that it has amended its credit agreement to extend its existing covenant relief and provide the Company with additional flexibility to use a portion of the proceeds from potential asset sales to invest in strategic initiatives and support the ongoing transformation of the business. Additional information regarding the amendment can be found in the Company’s Form 8-K filed with the SEC on September 10, 2026.
Evaluation of Capital Raising Options
The Company is also evaluating a range of options intended to optimize its capital structure and provide additional capital to support investments in its transformation and drive future growth. The potential options may include, but are not limited to, one or more public or private debt or equity financings, potential divestitures of non-strategic assets, or other capital structure transactions. The Company has retained Guggenheim Securities, LLC as its financial advisor in connection with this evaluation. There can be no assurance that the evaluation will result in any transaction or outcome or, if one or more transactions ensue, what the terms of any such transaction might be. The Company is in the early stages of the evaluation and will not comment further during the process.
Fiscal 2026 Fourth Quarter Performance
Total consolidated revenues decreased 12.9% to $293.1 million, compared with the prior year period, primarily reflecting a strategic shift to improve marketing effectiveness and profitability. Consumer Floral & Gifts revenues declined 13.4%, Gourmet Foods & Gift Baskets revenues, which were impacted by the timing of Easter, declined 15.4%, while BloomNet revenues increased 1.9%.
Gross profit margin decreased 80 basis points to 34.7%, compared with 35.5% in the prior year period, primarily due to deleveraging on the sales decline, higher commodity costs and inventory reserves, partially offset by the Company’s cost reduction and operational efficiency initiatives, along with an approximately $7 million benefit related to tariff refunds.
Operating expenses decreased $16.7 million year-to-year to $158.2 million. Excluding non-recurring charges and the impact of the Company’s non-qualified deferred compensation plan in both periods, operating expenses decreased $8.9 million as compared with the prior year to $150.8 million, primarily due to lower marketing and labor costs.
Net loss for the quarter was $52.3 million, or $(0.82) per diluted share, as compared to a net loss of $(51.9) million, or $(0.82) per share, in the prior year period.
Adjusted net loss1 was $(51.6) million, or $(0.80) per diluted share, compared with an Adjusted net loss1 of $(43.8) million, or $(0.69) per share, in the prior year period.
Adjusted EBITDA1 loss for the quarter was $(31.0) million, compared with Adjusted EBITDA1 loss of $(24.2) million in the prior year period.
(1)
Refer to “Definitions of Non-GAAP Financial Measures” and the tables attached at the end of this press release for reconciliation of non-GAAP results to applicable GAAP results.
Fiscal Year 2026 Performance
Total consolidated revenues decreased 10.8% to $1.50 billion, compared with total consolidated revenues of $1.69 billion in the prior year period.
Gross profit margin decreased 70 basis points to 38.0%, compared with 38.7% in the prior year period, primarily due to deleveraging on the sales decline, higher commodity costs and inventory reserves, partially offset by the Company’s cost reduction and operational efficiency initiatives. Excluding the impact of non-recurring charges in the year ago period, gross profit margin decreased 110 basis points as compared with the prior year period.
Operating expenses decreased $158.6 million to $698.5 million, as compared with the prior year period. Excluding non-recurring charges and the impact of the Company’s non-qualified deferred compensation plan in both periods, operating expenses decreased by $62.0 million to $633.3 million, as compared with the prior year.
Net loss for the fiscal year was $(134.8) million or $(2.11), per diluted share, which includes a $45.2 million non-cash goodwill and intangible impairment charge, compared with a net loss of $(200.0) million, or $(3.13) per diluted share, in the prior year period, which included a non-cash goodwill and intangible impairment charge of $143.8 million.
Adjusted net loss1 was $(77.5) million, or $(1.21) per diluted share, compared with Adjusted net loss1 of $(52.5) million, or $(0.82) per diluted share, in the prior year period.
Adjusted EBITDA1 for the fiscal year was $2.9 million, as compared with $29.2 million in the prior year period.
Segment Results
The Company provides Fiscal 2026 fourth quarter and full year selected financial results for its Gourmet Foods & Gift Baskets, Consumer Floral & Gifts, and BloomNet® segments in the tables attached to this release and as follows:
Gourmet Foods & Gift Baskets: For the quarter, revenues decreased 15.4% to $85.8 million, as compared with the prior year period. Gross profit margin decreased 830 basis points from the prior year period to 17.7% due to deleveraging on the sales decline and increased tariff, commodity and shipping costs. The segment contribution margin1 loss was $23.4 million, compared with segment contribution margin loss of $19.0 million in the prior year period, excluding severance costs.
For the full fiscal year, revenue decreased 5.2% to $768.5 million. Gross profit margin decreased 130 basis points to 35.5%. Excluding non-recurring costs in both years, segment contribution margin1 for the year was $52.7 million, compared with $58.8 million in the prior year.
Consumer Floral & Gifts: For the quarter, revenues decreased 13.4% to $182.8 million, as compared with the prior year period. Gross profit margin increased 220 basis points from the prior year period to 40.7% on lower commodity and shipping costs. The segment contribution margin1 was $17.1 million, compared with $17.4 million in the prior year period, excluding severance and impairment costs.
For the full fiscal year, revenues decreased 17.7% to $638.9 million, as compared with the prior year period. Gross profit margin increased 10 basis points from the prior year period to 39.4%. Excluding the non-recurring costs in both years, segment contribution margin was $48.6 million, compared with $50.5 million in the prior year.
BloomNet: For the quarter, revenues increased 1.9% to $24.7 million, as compared with the prior year period. Gross profit margin increased 190 basis points from the prior year period to 48.8%. The segment contribution margin1 was $7.4 million, compared with $6.5 million in the prior year period, excluding severance costs.
For the full fiscal year, revenues decreased 1.9% to $96.8 million, as compared with the prior year period. Gross profit margin decreased 10 basis points from the prior year period to 48.4%. Excluding the impact of the severance charges, segment contribution margin1 for the year was $27.2 million, compared with $29.3 million in the prior year.
Fiscal Year 2027 Outlook
During Fiscal 2027, the Company expects to continue reinvesting a significant portion of the cost savings achieved through its operational efficiency initiatives into strategic growth investments. These investments include further modernization of the Company’s marketing capabilities, continued development of its marketing technology platform, enhancements to its digital customer experience and personalization capabilities, and other initiatives designed to strengthen customer acquisition, engagement, and retention.
While the Company expects the benefits of these investments to build over multiple years, management believes Fiscal 2027 marks the next phase of its transformation. The Company will continue to build key capabilities while increasingly leveraging the investments made during Fiscal 2026 to improve operating performance and create sustainable long-term value.
For Fiscal 2027, the Company expects net revenues to decline in the mid-single digit range compared with Fiscal 2026. The Company expects Fiscal 2027 adjusted EBITDA of $10 million to $15 million, which includes approximately $12 million of additional compensation expense versus Fiscal 2026.
Conference Call
The Company will conduct a conference call to discuss its financial results today, September 10, 2026, at 8:00 a.m. (ET). The conference call will be webcast from the Investors section of the Company’s website at www.1800flowersinc.com. A recording of the call will be posted on the Investors section of the Company’s website within two hours of the call’s completion.
Definitions of Non-GAAP Financial Measures:
We sometimes use financial measures derived from consolidated financial information, but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain of these are considered “Non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. Non-GAAP financial measures referred to in this document are either labeled as “Non-GAAP,” “adjusted” or designated as such with a “1”. See below for definitions and the reasons why we use these non-GAAP financial measures. Where applicable, see the Selected Financial Information below for reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures. Reconciliations for forward-looking figures would require unreasonable efforts at this time because of the uncertainty and variability of the nature and amount of certain components of various necessary GAAP components, including, for example, those related to compensation, tax items, amortization or others that may arise during the year, and the Company’s management believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The lack of such reconciling information should be considered when assessing the impact of such disclosures.
EBITDA and Adjusted EBITDA:
We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Deferred Compensation Plan (“NQDC”) investment appreciation/depreciation, goodwill and intangible impairment and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company’s credit agreement uses EBITDA and Adjusted EBITDA-related items to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company’s working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on the Company’s debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company’s performance.
Segment Contribution Margin and Adjusted Segment Contribution Margin:
We define Segment Contribution Margin as earnings before interest, taxes, depreciation, and amortization, before the allocation of corporate overhead expenses. Adjusted Segment Contribution Margin is defined as Segment Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for this limitation when using these measures by looking at other GAAP measures, such as Operating Income (Loss) and Net Income (Loss).
Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:
We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) Per Common Share and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common Share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.
Free Cash Flow:
We define Free Cash Flow as net cash provided by (used in) operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company’s business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company’s cash balance for the period.
About 1-800-FLOWERS.COM, Inc.
1-800-FLOWERS.COM, Inc. is a leading provider of thoughtful expressions designed to help inspire customers to give more, connect more, and build more and better relationships. The Company’s e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Card Isle®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Vital Choice®, Simply Chocolate® and Scharffen Berger®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help its members grow their businesses profitably; Napco℠, a resource for floral gifts and seasonal décor; and DesignPac®, a manufacturer of gift baskets and towers. 1-800-FLOWERS.COM, Inc. was recognized among America’s Most Trustworthy Companies by Newsweek for 2024. 1-800-FLOWERS.COM, Inc. was also recognized as one of America’s Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com.
FLWS-COMP
FLWS-FN
Special Note Regarding Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or forecasts concerning future events; they do not relate strictly to historical or current facts. Such statements can generally be identified by words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “foresee,” “forecast,” “likely,” “should,” “will,” “target,” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements relating to future actions; the Company’s ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic priorities; its ability to cost effectively acquire and retain customers and drive purchase frequency; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. The Company cannot guarantee that any forward-looking statement will be realized. Achievement of future results is subject to risk, uncertainties and potentially inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected. You should bear this in mind as you consider forward-looking statements. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company’s SEC filings, including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.
VNCE Will Own OVO’s Operating Business and a 5% Stake in OVO’s Intellectual Property Alongside Authentic Brands Group and OVO Co-Founder Aubrey “Drake” Graham
Transaction Expected to be Accretive to VNCE in Fiscal 2027
VNCE Expects to Deliver Second Quarter Fiscal 2026 Results At the High End of Guidance
NEW YORK–(BUSINESS WIRE)– Vince Holding Corp. (Nasdaq: VNCE) (“VNCE” or the “Company”), a global retail platform today announced it has completed the acquisition of the operating business of October’s Very Own (“OVO”), a globally recognized lifestyle brand. VNCE now will own and operate OVO’s business as OVO’s core apparel and retail licensee, marking the first expansion of its multi-brand platform strategy beyond Vince, and will build on OVO’s existing operations using its scale and infrastructure to support the brand’s next phase of growth.
This transaction also further deepens VNCE’s partnership with Authentic Brands Group (“Authentic”), a global entertainment platform, who has acquired a majority stake in OVO’s intellectual property (“OVO IP”). A portion of the proceeds from the sale of OVO IP will be used to strengthen OVO’s balance sheet and support VNCE’s growth strategy for the business. This transaction combines Authentic’s brand management expertise with VNCE’s proven capabilities in merchandising and operating ready-to-wear brands, creating a new revenue stream for VNCE. As part of this expanded partnership, VNCE will own 5% of the OVO IP and has entered into a long-term license agreement for use of the OVO IP.
This transaction advances VNCE’s strategy to diversify its revenue and earnings by leveraging its platform and operating expertise. This transaction is expected to:
Provide VNCE access to the fast growing global streetwear market.
Fuel OVO’s U.S. growth by:
Store and e-commerce expansion by leveraging VNCE’s scale and infrastructure.
Launch OVO’s wholesale business through VNCE’s established wholesale relationships with key national department store partners.
Optimize OVO’s operations while design and creative functions for each brand remain separate.
Give VNCE the Canadian-based infrastructure to open Vince stores and expand e-commerce and wholesale.
Founded by Aubrey “Drake” Graham, Oliver El-Khatib, and Noah “40” Shebib, OVO has established itself as one of the most recognized brands in contemporary streetwear. Known for its distinctive owl logo and black-and-gold aesthetic, the brand has built its reputation on collaboration-led product drops and a close connection to its customer base. OVO currently operates 12 stores across Canada, the United States, and the United Kingdom, in addition to its e-commerce platform.
“We are thrilled to welcome OVO into our portfolio and to partner with Drake and Authentic in building on the brand’s strong foundation to support its next phase of growth,” said Brendan Hoffman, Chief Executive Officer of VNCE. “This transaction also deepens our relationship with Authentic Brands Group, a partner supporting our multi-brand platform strategy to broaden our portfolio of brands, business models, and distribution channels, and drive long-term value for all stakeholders. We are committed to preserving the authenticity and meaningful customer relationships that have driven OVO’s success to date.”
“We are proud to welcome OVO to Authentic and to expand our partnership with VNCE, whose operating expertise makes them an ideal partner to grow the business,” said Jamie Salter, Founder and Executive Chairman of Authentic. “Together, we see significant opportunity to introduce OVO into new categories, channels, and markets while staying true to the creative vision and community that have made the brand so special. The success we’ve had partnering with VNCE gives us great confidence in their stewardship of OVO’s business and we look forward to exploring future opportunities to utilize the VNCE platform.”
“We’re just a couple kids from Toronto who started something we believed in, here we are 20 years later, same kids with bigger dreams. Authentic and VNCE are the perfect partners to help us continue to grow,” said Drake.
Transaction Details
Under the terms of the transaction, Authentic formed a new subsidiary which holds OVO’s IP, under which Authentic owns 51%, Drake owns 44%, and VNCE owns the remaining 5%. A portion of the proceeds from the sale of OVO’s IP was used to strengthen the balance sheet of OVO’s operating business, which VNCE then acquired. VNCE remains well-capitalized, with a strong balance sheet that supports both this transaction and its continued growth in the Vince business.
VNCE and Authentic have entered into a license agreement granting VNCE the exclusive right to use OVO’s IP to manufacture and sell licensed apparel worldwide, in exchange for payment of a royalty fee to Authentic.
VNCE’s acquisition includes all of OVO’s existing operating companies, assets and liabilities, including its retail stores, e-commerce platform, and wholesale relationships across Canada, the United States, and the United Kingdom. VNCE will retain OVO’s existing team and continue to operate the business from its Toronto headquarters as it builds out the brand’s next phase of growth.
Vince and OVO will maintain separate brand operations and creative teams, with VNCE serving its contemporary customer and OVO continuing to serve its streetwear audience.
Second Quarter Fiscal 2026 Outlook
Based on continued momentum in the business, VNCE expects to deliver Q2 fiscal 2026 results at the high-end of its prior guidance ranges, excluding any benefit from tariff refunds.
These amounts are based on currently available information and are subject to change, including potential adjustments related to customary financial closing procedures and period-end accruals for the fiscal quarter ending August 1, 2026.
The Company plans to share more on its results when its report its second quarter fiscal 2026 results by September 15, 2026.
DISCLOSURES REGARDING FORWARD-LOOKING STATEMENTS
This document, and any statements incorporated by reference herein, contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include the statements under “Transaction Details” and “Second Quarter Fiscal 2026 Outlook” above as well as statements regarding, among other things, our current expectations about possible or assumed future results of operations of the Company and are indicated by words or phrases such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “estimate,” “plan,” “target,” “project,” “forecast,” “envision” and other similar phrases. Although we believe the assumptions and expectations reflected in these forward-looking statements are reasonable, these assumptions and expectations may not prove to be correct and we may not achieve the results or benefits anticipated. These forward-looking statements are not guarantees of actual results, and our actual results may differ materially from those suggested in the forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, some of which are beyond our control, including, without limitation: the expected effects of the acquisition of OVO’s existing operations, assets and liabilities (the “OVO Acquisition”) on the Company; our ability to integrate OVO with the Company, changes to and unpredictability in the trade policies and tariffs imposed by the U.S. and the governments of other nations; general economic conditions; our ability to maintain adequate cash flow from operations or availability under our revolving credit facility to meet our liquidity needs; restrictions on our operations under our credit facilities; our ability to improve our profitability; our ability to maintain our larger wholesale partners; our ability to accurately forecast customer demand for our products; our ability to maintain the license agreement relating to the Vince brand with ABG Vince; ABG Vince’s expansion of the Vince brand into other categories and territories; ABG Vince’s approval rights and other actions; our ability to realize the benefits of our strategic initiatives; our ability to make lease payments when due; our ability to open retail stores under favorable lease terms and operate and maintain new and existing retail stores successfully; our operating experience and brand recognition in international markets; our ability to remediate the identified material weakness in our internal control over financial reporting; our ability to comply with domestic and international laws, regulations and orders; increased scrutiny regarding our approach to sustainability matters and environmental, social and governance practices; competition in the apparel and fashion industry; our ability to attract and retain key personnel; seasonal and quarterly variations in our revenue and income; the protection and enforcement of intellectual property rights relating to the Vince brand; the extent of our foreign sourcing; our reliance on independent manufacturers; our ability to ensure the proper operation of the distribution facilities by third-party logistics providers; fluctuations in the price, availability and quality of raw materials; the ethical business and compliance practices of our independent manufacturers; our ability to mitigate system or data security issues, such as cyber or malware attacks, as well as other major system failures; our ability to adopt, optimize and improve our information technology systems, processes and functions; our ability to comply with privacy-related obligations; our status as a “controlled company”; our status as a “smaller reporting company”; and other factors as set forth from time to time in our Securities and Exchange Commission filings, including those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We intend these forward-looking statements to speak only as of the time of this release and do not undertake or revise them as more information becomes available, except as required by law.
About Vince Holding Corp.
Vince Holding Corp. is a global retail platform that operates the Vince brand women’s and men’s ready-to-wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for everyday effortless style. Vince Holding Corp. operates 42 full-price retail stores, 12 outlet stores, and its e-commerce site, as well as through premium wholesale channels globally. Please visit www.vince.com for more information.
About October’s Very Own
October’s Very Own (OVO) is a Canadian lifestyle brand led by CEO Drex Jancar and founded by Aubrey “Drake” Graham, Oliver El-Khatib, and Noah “40” Shebib. OVO offers premium apparel and accessories and is known for its distinctive owl logo and black-and-gold aesthetic. The brand has grown into a globally recognized enterprise with 12 flagship stores and a worldwide e-commerce presence.
About Authentic Brands Group
Authentic Brands Group (Authentic) is a global brand and entertainment platform that owns and invests in iconic intellectual property and cultural assets. It accelerates brands through a set of specialized businesses that combine powerful storytelling, premium content, unforgettable live experiences and global commerce. Through a network of more than 1,700 best-in-class licensees and strategic partners across 150 countries and expansive distribution, Authentic’s brands drive more than $38 billion in annual systemwide retail sales worldwide.
Authentic’s diversified portfolio spans more than 50 brands and reaches nearly one billion social media followers. Its roster includes Reebok, Champion, Shaquille O’Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, GUESS, Care Bears, Aéropostale, Nautica, Eddie Bauer, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, OVO, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter.
The Personal Consumption Expenditures price index, the inflation measure the Federal Reserve targets most closely, rose 3.7% year over year in July, up from 3.6% in June, the Commerce Department reported Wednesday, coming in a touch stronger than economists had expected. Core PCE, which strips out volatile food and energy prices and is viewed as the cleaner read on underlying inflation pressure, held at 3.3% year over year, showing no improvement from the prior month.
This is the exact data release we flagged as pivotal heading into Fed Chair Kevin Warsh’s upcoming Jackson Hole speech, and it landed on the more hawkish side of the range economists had modeled. The result directly conflicts with earlier reports that had shown consumer price inflation cooling over the prior couple of months, reinforcing just how genuinely unresolved the inflation picture remains heading into the fall.
The Fed has held its policy rate steady in a range of 3.50% to 3.75% since December. Warsh has publicly committed to bringing inflation back to target, but has offered no clear signal on whether he believes that can happen without additional rate increases, and Wednesday’s data does nothing to support the case that it will happen on its own. Heather Long, chief economist at Navy Federal Credit Union, put it bluntly, the United States still has an inflation problem, and argued the latest data buys Warsh some time to wait and assess, but that he will need to be considerably clearer about what specific conditions would actually prompt him to raise rates.
Markets moved quickly to reprice the odds. Fed funds futures now reflect roughly a 44% probability of a September rate hike, up from about 36% just before this report, and traders are now fully pricing in that the Fed will have raised its policy rate by year end.
For companies operating below the $2 billion market cap threshold, this shift in rate expectations carries direct and immediate consequences. Small and microcap businesses typically carry considerably more variable-rate debt than large cap companies, meaning every incremental increase in the probability of a Fed hike translates into a real, measurable increase in borrowing costs across this segment of the market. This report also sharpens the stakes for Warsh’s Jackson Hole address, which now arrives with markets meaningfully more convinced a hike is coming than they were just days ago, making his tone and language around this data the most consequential signal small cap investors will get before the Fed’s actual September decision.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Gamescom 2026 AAA unveiling. Snail announced its Gamescom 2026 lineup, headlined by the unveiling of its second internally developed AAA title in the 9 Yin Sutra universe, set in a parallel timeline and alternate universe to 9Yin Sutra: Immortal, which debuted at ChinaJoy on July 30th. In our note on August 12th, we had identified an unannounced AAA reveal at Gamescom as a near-term event, and the release confirms it.
The franchise builds. Both 9 Yin Sutra titles draw on the established Age of Wushu IP, offering different treatments of the same martial arts setting. Along with these titles, Snail will also show For The Stars, its space-survival AAA project. In our view, concentrating two out of the three AAA projects within a single IP family should improve development and marketing efficiency, while also making outcomes across those titles more correlated.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
DODGEVILLE, Wis., Aug. 20, 2026 (GLOBE NEWSWIRE) — Lands’ End, Inc. (NASDAQ: LE) will host a conference call at 8:30 a.m. Eastern Time on Thursday, September 3, 2026, to discuss its second quarter fiscal 2026 financial results.
A news release will be issued before the call and also be available on the Company’s investor relations website. Listeners may access a live broadcast of the conference call on the Company’s investor relations website: https://investors.landsend.com/ in the Events and Presentations section. An online archive of the broadcast will be available at approximately noon on September 3, 2026.
About Lands’ End, Inc.
Lands’ End, Inc. (NASDAQ: LE) is a leading digital retailer of solution-based apparel, swimwear, outerwear, accessories, footwear, home products and uniforms. Lands’ End offers products online at www.landsend.com, through third-party distribution channels and Company Operated stores. Lands’ End also offers products to businesses and schools, for their employees and students, through the Outfitters distribution channel. Lands’ End is a classic American lifestyle brand that creates solutions for life’s every journey.
CONTACTS:
Lands’ End, Inc. Bernard McCracken Chief Financial Officer (608) 935-4100
Investor Relations: ICR, Inc. Tom Filandro (646) 277-1235 [email protected]
JERICHO, N.Y.–(BUSINESS WIRE)– 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS) (the “Company”),a leading provider of thoughtful expressions designed to help inspire customers to give more, connect more, and build more and better relationships, today announced that the Company will release financial results for its fiscal 2026 fourth quarter and year-end on Thursday, September 10, 2026. The press release will be issued before the market opens and will be followed by a conference call with members of senior management at 8:00 a.m. (ET).
The conference call will be available via live webcast on the Investors section of the Company’s website at www.1800flowersinc.com/investors. A replay of the webcast will be available shortly after the live event has concluded. A telephone replay of the call will be available beginning at 2:00 p.m. (ET) on September 10, 2026, through September 17, 2026, by dialing (855) 669-9658 or (412) 317-0088 for international callers; the passcode is 8022292.
Special Note Regarding Forward-Looking Statements:
Some of the statements contained in the Company’s press release and conference call regarding its fiscal 2026 fourth quarter and year-end results, other than statements of historical fact, may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. For a more detailed description of these and other risk factors, please refer to the Company’s SEC filings including its Annual Reports and Forms 10-K and 10-Q available at the Investor Relations section of the Company’s website at 1800flowersinc.com. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in the scheduled conference call and any recordings thereof, or in any of its SEC filings, except as may be otherwise stated by the Company.
About 1-800-FLOWERS.COM, Inc.
1-800-FLOWERS.COM, Inc. is a leading provider of thoughtful expressions designed to help inspire customers to share more, connect more, and build more and better relationships. The Company’s e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Card Isle®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Vital Choice®, Simply Chocolate® and Scharffen Berger®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad range of products and services designed to help members grow their businesses profitably; Napco℠, a resource for floral gifts and seasonal décor; and DesignPac®, a manufacturer of gift baskets and towers. 1-800-FLOWERS.COM, Inc. was recognized among America’s Most Trustworthy Companies by Newsweek for 2024. 1-800-FLOWERS.COM, Inc. was also recognized as one of America’s Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 results were softer than expected, largely due to timing. Revenue was approximately $1.1 million, compared with $1.3 million in the prior-year period, reflecting the Judith Ripka divestiture and delays associated with QVC’s bankruptcy and vendor-credit issues. Importantly, the QVC-related disruptions appear to have largely been resolved.
Commercialization remains the key story as the creator portfolio moves into the market. With the portfolio’s social media reach having expanded from roughly 5 million to more than 46 million followers, we believe the company has assembled a compelling audience from which to build consumer brands. The next several quarters should provide evidence regarding Xcel’s ability to convert that audience into sustainable royalty revenue.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Trust designs and markets computer and gaming peripherals across Europe and Latin America, extending ACCO Brands’ Kensington, PowerA and EPOS technology peripherals portfolio
Transaction accelerates ACCO Brands’ pivot toward higher-growth technology peripherals categories, which on a pro forma basis will generate approximately $500 million in annual sales
Adds scale in large, growing categories sold through retail, online and B2B channels
Trust generates approximately $100 million in annual revenue and is expected to be modestly accretive to adjusted EPS in the first 12 months
Expect to realize cost synergies of approximately $5 to $8 million
LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO), a global leader in branded office and learning products and technology accessories, today announced it has entered into a definitive agreement to acquire Trust, a European provider of computer and gaming accessories, from Egeria, a pan-European investment firm.
Founded in 1983 and headquartered in the Netherlands, Trust is a well-recognized consumer electronics brand with more than 40 years of presence in PC accessories, gaming, smart home and mobile accessories. The company offers a comprehensive product portfolio spanning keyboards, mice, headsets, speakers, webcams, chargers, and gaming peripherals, sold through a broad network of leading retailers, e-commerce platforms, and B2B channels. Trust operates an asset-light model with outsourced manufacturing and scalable sourcing and serves customers in Europe and Latin America.
“Building on the strategic pivot to an enhanced focus on faster-growing categories and the recent acquisition of EPOS, Trust adds a well-established brand and an impressive peripherals lineup that complements Kensington, PowerA and EPOS, deepening our presence in some of the largest and fastest-growing categories in technology peripherals,” said Tom Tedford, ACCO Brands President and CEO. “This acquisition continues the shift of our product and brand portfolio toward higher-growth technology peripherals, which will now approach $500 million in annual sales on a pro forma basis. We expect to deliver cost synergies as we integrate Trust into our European platform.”
“Joining ACCO Brands is an exciting next chapter for Trust,” said Jeroen Hoogland, CEO of Trust. “ACCO Brands’ global scale, supply chain, and channel relationships will help us accelerate innovation and reach even more consumers and business customers across Europe and beyond.”
Trust generates approximately $100 million in annual revenue and is expected to be modestly accretive to adjusted EPS in the first 12 months. ACCO Brands expects to realize cost synergies of approximately $5 to $8 million, within 18 months after closing.
The transaction will be financed through borrowings under ACCO Brands’ revolving credit facility, with limited impact to pro forma leverage. The transaction is expected to close in late third quarter or early fourth quarter, subject to customary closing conditions, including applicable competition authority approvals.
About ACCO Brands Corporation
ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.
About Egeria
Established in 1997, Egeria is an independent pan-European investment company. Its private equity practice is focused on healthy mid-sized companies primarily in the Benelux and DACH regions. Guided by its core philosophy, “Boldly Building Together,” Egeria believes in building businesses through close collaboration, entrepreneurial spirit, and shared ownership with management teams. Egeria’s private equity portfolio comprises investments in more than 20 companies with combined revenues of around €3.0 billion and over 14,000 employees. For more information, please visit egeriagroup.com.
Forward-Looking Statements
Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to synergies, cost reductions, anticipated pre-tax savings, restructuring costs and the satisfaction of closing conditions for the subject transaction are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “future,” “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of events outside the Company’s control and actual results, and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements when deciding whether to buy, sell or hold the Company’s securities.
Our outlook is based on certain assumptions which we believe to be reasonable under the circumstances. These include, without limitation, assumptions regarding consumer demand, tariffs, global geopolitical and economic uncertainties, and fluctuations in foreign currency exchange rates; and the other factors described below.
Among the factors that could cause our actual results to differ materially from our forward-looking statements are: the occurrence of any event, change or other circumstances that could give rise to the right of ACCO Brands or Egeria to terminate the transaction, the possibility that the transaction is not completed or, if completed, that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, obtaining regulatory approvals, the integration of Trust, operating costs and business disruption following the transaction, the integration of Trust products and our ability to realize synergies in the integration, as well as changes in trade policy and regulations, including changes in trade agreements and the imposition of tariffs, and the resulting consequences; global political and economic uncertainties; a limited number of large customers account for a significant percentage of our sales; sales of our products are affected by general economic and business conditions globally and in the countries in which we operate; risks associated with foreign currency exchange rate fluctuations; challenges related to the highly competitive business environment in which we operate; our ability to develop and market innovative products that meet consumer demands and to expand into new and adjacent product categories; our ability to successfully expand our business in emerging markets and the exposure to greater financial, operational, regulatory, compliance and other risks in such markets; the continued decline in the use of certain of our products; risks associated with seasonality, the sufficiency of investment returns on pension assets, risks related to actuarial assumptions, changes in government regulations and changes in the unfunded liabilities of a multi-employer pension plan; any impairment of our intangible assets; our ability to secure, protect and maintain our intellectual property rights, and our ability to license rights from major gaming console makers and video game publishers to support our gaming accessories business; our ability to grow profitably through acquisitions, and successfully integrate them; our ability to successfully execute our multi-year restructuring and cost savings program and realize the anticipated benefits; continued disruptions in the global supply chain; risks associated with inflation and other changes in the cost or availability of raw materials, transportation, labor, and other necessary supplies and services and the cost of finished goods; risks associated with outsourcing production of certain of our products, information technology systems and other administrative functions; the failure, inadequacy or interruption of our information technology systems or their supporting infrastructure; risks associated with a cybersecurity incident or information security breach, including that related to a disclosure of personally identifiable information; risks associated with our indebtedness, including limitations imposed by restrictive covenants, our debt service obligations, and our ability to comply with financial ratios and tests; a change in or discontinuance of our stock repurchase program or the payment of dividends; product liability claims, recalls or regulatory actions; the impact of litigation or other legal proceedings; the impact of additional tax liabilities stemming from our global operations and changes in tax laws, regulations and tax rates; our failure to comply with applicable laws, rules and regulations and self-regulatory requirements, the costs of compliance and the impact of changes in such laws; our ability to attract and retain qualified personnel; the volatility of our stock price; risks associated with circumstances outside our control, including those caused by telecommunication failures, labor strikes, power and/or water shortages, public health crises, such as the occurrence of contagious diseases, severe weather events, war, terrorism and other geopolitical incidents; and other risks and uncertainties described in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other reports we file with the Securities and Exchange Commission.
For further information:
Christopher McGinnis Investor Relations (847) 796-4320
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. SKYX Platforms just completed its 10th consecutive quarter of year-over-year growth. The Company is trending positively, generating record second quarter 2026 revenues. The Company’s builder and hotel segments are continuing to grow. With savings of up to 90% of time for installation or renovation, and up to 90% of the cost of renovation and installations, we believe SKYX’s value proposition is very strong in the hotels and builders segments. We believe the positive trends will continue to accelerate through the balance of 2026 as the Company continues to build out and execute on its channel strategy.
2Q26 Results. Revenue in 2Q26 rose 9.6% y-o-y to $25.27 million and was above our $24 million projection, with the increase due to an expansion of sales of SKYX products. The Company reported an adjusted EBITDA loss of $3.5 million, up slightly from last year’s $2.6 million loss. Net loss totaled $8.48 million, or $0.06/sh, versus a $9.1 million net loss, or $0.08/sh, in 2Q25.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Net loss on a GAAP basis was $2.5 million for the current quarter compared with $4.0 million net loss for the prior year quarter.
EBITDA for the current quarter was negative $0.48 million compared with negative$0.30 million EBITDA for the prior year quarter which is a 40% improvement when adjusted for a non-recurring expense reduction from an Employee Tax Credit received in Q2 last year and compared with negative $0.70 for the first quarter, a 32% improvement over Q1, 2026
NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media and consumer products company with significant expertise in building influencer lead brands, live-steam shopping and social commerce, today announced its financial results for the quarter ended June 30, 2026.
Robert W. D’Loren, Chairman and Chief Executive Officer of Xcel commented, “Our second quarter earnings on an Adjusted EBITDA basis were the best since June 2024, this was driven by the product launch of two of our new influencer led brands and additional reductions in operating expenses. I am very excited by the enormous potential of these brands going into the future. The recent changes in the search box since Google went to AI Mode, will make video content created by influencers that are authorities in their category part of the cited AI answer. I am excited to be managing a portfolio of brands that generate awareness through a combined existing audience of over 46 million people.”
Second Quarter 2026 Financial Results
Total revenue for the second quarter of 2026 was $1.1 million, representing a decrease of approximately $0.2 million (-14%) from the prior year quarter. This year-over-year decrease was primarily attributable to divestiture of the Judith Ripka brand.
Direct operating costs and expenses were essentially flat from the prior year quarter of approximately $1.9 million. It should be noted that the prior year quarter included an expense reduction of approximately $0.50 million from an employee retention credit refund. Excluding this prior year, non-recurring expense reduction, direct operating expenses decreased by approximately $0.50 million from the prior year quarter.
Net loss attributable to Xcel Brands stockholders for the quarter was approximately $2.5 million, or $(0.40) per share, compared with net loss of $4.0 million, or $(1.66) per share, for the prior year quarter.
After adjusting certain cash and non-cash items, current quarter results on a non-GAAP basis were a net loss of approximately $1.3 million, or $(0.21) per share and net loss of approximately $0.9 million, or $(0.37) per share, for the prior year quarter. Adjusted EBITDA was negative $0.48 million for the current quarter, compared with Adjusted EBITDA of negative $0.30 million for the prior year quarter. The second quarter EBITDA, when excluding the non-recurring expense reduction referenced above, Adjusted EBITDA improved by approximately $0.32 million.
Six Month 2026 Financial Results
Total revenue for the current six-month period was $2.3 million, representing a decrease of approximately $0.4 million (-14%) from the prior year period. This year-over-year decrease was primarily attributable to divestiture of the Judith Ripka brand.
Direct operating costs and expenses decreased approximately $0.2 million from the prior year six months to $4.0 million in the current six months. When factoring in the prior year period, non-recurring expense reduction, the decrease in direct operating expenses would have been approximately $0.7 million. Currently, the Company has reduced its direct operating expenses to an expected run rate of less than $8 million per annum.
Net loss attributable to Xcel Brands stockholders for the current six months was approximately $5.0 million, or $(0.82) per share, compared with net loss of $6.8 million, or $(2.84) per share, for the prior year period.
After adjusting certain cash and non-cash items, the current six month period results on a non-GAAP basis were a net loss of approximately $2.7 million, or $(0.44) per share and net loss of approximately $2.3 million, or $(0.95) per share, for the prior year period. Adjusted EBITDA was negative $1.2 million for the current six months, compared with Adjusted EBITDA of negative $1.0 million for the prior year period. The current six month EBITDA, when excluding the non-recurring expense reduction referenced above, Adjusted EBITDA improved by approximately $0.3 million.
Balance Sheet
The Company’s balance sheet on June 30, 2026, reflected stockholders’ equity of approximately $12 million, unrestricted cash and cash equivalents of approximately $0.4 million. The Company’s balance sheet on June 30, 2026, also reflected approximately $12 million of long-term debt.
The Company’s working capital on June 30, 2026 (exclusive of the current portion of lease obligations and deferred revenue was negative $1.3 million. On January 21, 2026, the Company entered into a common stock purchase agreement, pursuant to which the buyer has committed to purchase up to $15.0 million of the Company’s common stock. Under the terms and conditions of this agreement, the Company has the right, but not the obligation, to sell up to $15.0 million of the Company’s common stock. The actual amount and timing of any sales of Common Stock will be determined by the Company at its discretion.
Conference Call and Webcast
The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details at 9:00 a.m. Eastern Time on August 14, 2026. A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at www.xcelbrands.com. Interested parties unable to access the conference call via the webcast may dial 800-715-9871 or 646-307-1963 and use the conference ID 4300396. A replay of the webcast will be available on Xcel’s website.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston and C. Wonder brands, as well as the co-branded collaboration brands Tower Hill by Christie Brinkley, Trust. Respect. Love by Cesar Millan, GemmaMade by Gemma Stafford and Off/Duty by Coco Rocha brand and holds noncontrolling interests or long-term license agreement in Mesa Mia by Jenny Martinez. Xcel also owns and manages the Longaberger by Shannon Doherty brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customer’s shop. The company’s previously owned and current brands have generated more than $5 billion in retail sales via livestreaming in interactive television and digital channels alone and has over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches more than 46 million social media followers with broadcast reaching 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “ongoing,” “could,” “estimates,” “expects,” “intends,” “may,” “appears,” “suggests,” “future,” “likely,” “goal,” “plans,” “potential,” “projects,” “predicts,” “seeks,” “should,” “would,” “guidance,” “confident” or “will” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding our anticipated revenue, expenses, profitability, strategic plans and capital needs. These statements are based on information available to us on the date hereof and our current expectations, estimates and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including, without limitation, the risks discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on form 10-K for the year ended December 31, 2024 and its other filings with the SEC, which may cause our or our industry’s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time, and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.
For further information please contact: Seth Burroughs Xcel Brands [email protected]
Non-GAAP net income and non-GAAP diluted EPS are non-GAAP unaudited terms. We define non-GAAP net income as net income (loss) attributable to Xcel Brands, Inc. stockholders, exclusive of amortization of trademarks, income (loss) from equity method investments, stock-based compensation and cost of licensee warrants, asset impairment charges, loss on extinguishment of debt and income taxes. Non-GAAP net income (loss) and non-GAAP diluted EPS measures do not include the tax effect of the aforementioned adjusting items, due to the nature of these items and the Company’s tax strategy.
Adjusted EBITDA is a non-GAAP unaudited measure, which we define as net income (loss) attributable to Xcel Brands, Inc. stockholders before interest and finance expenses, accretion of lease liability for exited leases, income taxes, other state and local franchise taxes, depreciation and amortization, income (loss) from equity method investments, asset impairment charges, stock-based compensation and cost of licensee warrants, and costs associated with restructuring of operations. Costs associated with restructuring of operations include operating losses generated by certain of our businesses that have been restructured or discontinued (i.e., wholesale apparel and fine jewelry), as well as non-cash charges associated with the restructuring of certain contractual arrangements.
Management uses non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis and to identify business trends relating to our results of operations. Management believes non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are also useful because these measures adjust for certain costs and other events that management believes are not representative of our core business operating results, and thus these non-GAAP measures provide supplemental information to assist investors in evaluating our financial results.
Non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA should not be considered in isolation or as alternatives to net income, earnings per share, or any other measure of financial performance calculated and presented in accordance with GAAP. Given that non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are financial measures not deemed to be in accordance with GAAP and are susceptible to varying calculations, our non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including companies in our industry, because other companies may calculate these measures in a different manner than we do. In evaluating non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA, you should be aware that in the future we may or may not incur expenses similar to some of the adjustments in this document. Our presentation of non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA does not imply that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA alongside other financial performance measures, including our net income and other GAAP results, and not rely on any single financial measure.
