London · Delayed Price · Currency is GBP · Price in GBX Naked Wines Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw a strategic focus on profitability, with adjusted EBITDA up 35% to GBP 7.6 million and net cash rising to GBP 33.4 million despite an 18% revenue decline. Cost discipline, improved retention, and a transition to Shopify underpin medium-term EBITDA growth and strong liquidity.
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First-half 2026 results show strong cash generation, doubled adjusted EBITDA, and improved margins, despite lower revenue due to a strategic shift toward profitable customers. Guidance is reiterated, with ongoing inventory liquidation and shareholder distributions planned.
Fiscal Year 2025
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Strong FY 2025 results met guidance, with net cash up £10.5m and adjusted EBITDA at £6.7m. Revenue decline slowed, cost savings and inventory reduction drove improved cash flow, and a £2m share buyback was launched. FY 2026 guidance anticipates ongoing profit growth and further distributions.
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Management outlined a disciplined plan to unlock GBP 100 million in value, focusing on cost savings, stable cash flow, and targeted marketing to drive profitable growth. Revenue is expected to stabilize, with strong liquidity and a commitment to shareholder returns through distributions or buybacks.
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Revenue and cash performance aligned with guidance, driven by cost savings and improved core member retention. Strategic shift away from voucher marketing and focus on efficient channels are yielding positive results, with further updates on value creation and potential share buybacks expected by year-end.
Fiscal Year 2024
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Revenue fell 13% year-over-year, but cost reductions and improved liquidity have stabilized the business. Focus is now on restoring growth through customer acquisition, personalization, and retention, with FY 2026 targeted for a return to growth.