Answear.com (ANR) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 7.4% year-over-year to PLN 378.7m, led by strong Polish market growth (+21.3%) and effective marketing strategies, despite challenging conditions in other CEE markets.

• Gross profit increased 8% YoY to PLN 151.2m, with gross margin up to 39.9% (+0.4pp YoY), reflecting premiumization and better product mix.

• EBITDA declined by one-third year-over-year to PLN 6.6m (1.7% margin), mainly due to higher logistics and marketing costs.

• Net loss of PLN -6.8m, compared to a net profit of PLN 3.7m in Q1 2025, mainly due to negative FX differences and higher financial costs.

• Record investment in brand marketing, with a shift from TV to online campaigns for greater flexibility.

Financial highlights

• Revenue: PLN 378.7m (+7.4% YoY); gross profit: PLN 151.2m (39.9% margin, +0.4pp YoY); Poland led with 21.3% growth.

• EBITDA: PLN 6.6m (1.7% margin), down from PLN 9.9m (2.8%) in Q1 2025.

• Net loss: PLN -6.8m, impacted by PLN 4.5m in negative exchange rate differences, mostly unrealized.

• Average order value rose 1.8% YoY to PLN 394; visits up 16% YoY, orders up 5.9% YoY.

• Logistics costs increased to 13.8% of revenue, up from 13.2% YoY; marketing costs rose to 19.6% of revenue.

Outlook and guidance

• Management expects Q1 to be the weakest quarter of 2026, with improvement anticipated in subsequent quarters as premiumization and operational optimization progress.

• The 2026 EBITDA target was lowered from PLN 100m to PLN 90m, with a medium-term goal of PLN 120m EBITDA in 2027.

• No major investments planned for 2026 except for AI tools and marketing; logistics automation is planned for next year.

• No financial forecasts for 2026 were published.