LuxExperience (LUXE) Q3 2026 earnings summary

Executive summary

• Achieved second consecutive quarter of positive adjusted EBITDA profitability in Q3 FY26, with group gross profit margin expanding by 520bps year-over-year to 45.6%.

• Transformation plan execution remains on track, including separation of luxury and off-price businesses, workforce reductions, technology migrations, and significant SG&A cost reductions.

• Maintained strong liquidity with €436.1 million in cash and investments and a debt-free balance sheet.

• Mytheresa delivered strong growth and profitability, outpacing the market, while NET-A-PORTER/MR PORTER and YOOX showed margin improvements despite sales declines.

• Sale of THE OUTNET assets completed, allowing focus on core businesses.

Financial highlights

• Q3 FY26 group GMV was €653.7 million (+0.3% ex-FX, -4.9% reported); net sales were €618.4 million (0.0% ex-FX, -5.2% reported).

• Group adjusted EBITDA margin at +0.9% in Q3 FY26, up from -3.2% in Q3 FY25; adjusted EBITDA was €5.7 million.

• Group gross profit margin improved to 45.6% (+520bps YoY).

• Operating cash flow for first nine months at -€117.9 million, better than guidance.

• Cash and cash financial investments at €436.1 million; total available funds €612.8 million.

Outlook and guidance

• FY26 guidance reaffirmed: GMV €2.5–2.7 billion, net sales around €2.5 billion, and adjusted EBITDA margin between -1% and +1%.

• Medium-term targets confirmed: €4 billion net sales and 7–9% adjusted EBITDA margin by FY30, with 10–15% CAGR.

• Expect to return YOOX to adjusted EBITDA profitability in 12–15 months and top-line growth in FY27.