Revolution Beauty Group (REVB) H1 2027 earnings summary

Executive summary

• Adjusted EBITDA reached £2.0m profit versus a £12.5m loss in H1FY26, with positive Adjusted EBITDA for 13 consecutive months to 30 September 2026.

• Reported revenue was £48.4m, down 2.0%; underlying revenue grew 8.3% after excluding prior-year clearance sales, discontinued brands and non-recurring licence income.

• Refreshed ranges, tighter inventory management and a lower cost base supported higher-quality revenue and improved profitability.

Financial highlights

• Gross profit rose to £21.1m from £15.9m; gross margin increased 11.4ppts to 43.6% from 32.2%.

• Operating costs fell 32.7% to £19.1m, down £9.3m YoY; annualised cost savings exceeded £9m.

• Operating loss narrowed to £0.9m from £16.7m; loss before tax narrowed to £1.9m from £18.4m.

• Cash adjusting items fell 85% to £0.3m; non-recurring legal items reduced to £0.1m from £1.5m.

Outlook and guidance

• September and October trading was in line with Board expectations; autumn/winter and Christmas sales and order books were encouraging.

• FY27 trading was at the top end of market expectations: revenue of £92.0m–£95.0m and Adjusted EBITDA of £6.0m–£6.6m.

• H2 is expected to be cash generative as seasonal working capital unwinds; priorities include profitable growth, cost control and tight stock management.