LuxExperience BV (NYSE:LUXE) Reports Mixed Q4 Results and Cautious 2026 Outlook

LuxExperience B.V. (NYSE:LUXE), the newly formed luxury digital group, reported its fourth quarter and full fiscal year 2025 results, delivering a performance that presented a complex picture to investors, reflected in the stock's muted pre-market activity.

Earnings and Revenue Versus Expectations

The company's results for the quarter ended June 30, 2025, revealed a significant divergence between top-line strength and bottom-line performance relative to analyst forecasts.

• Revenue: The company reported Q4 revenue of approximately €567.6 million, narrowly surpassing the analyst consensus estimate of €563.3 million.
• Earnings Per Share (EPS): The non-GAAP EPS loss of €0.28 was substantially wider than the estimated loss of €0.14, indicating higher-than-anticipated costs or investments during the period.

This mixed outcome—beating on revenue but missing on profitability—appears to be the primary driver behind the stock's relatively flat reaction in pre-market trading, showing a slight gain of approximately 24.7%. The market seems to be balancing the positive sales growth against concerns over the larger-than-expected loss.

Fiscal Year 2025 and Mytheresa Segment Performance

The earnings release highlighted a strong standalone performance from the company's core Mytheresa business, which was the foundation of LuxExperience prior to its recent acquisition of YOOX Net-A-Porter (YNAP).

Key highlights for the Mytheresa segment for the full fiscal year include:

• Net sales growth of 8.9% year-over-year to €916.1 million.
• A significant 73% increase in Adjusted EBITDA to €44.6 million.
• An improved Adjusted EBITDA margin of 4.9%, up from 3.1% in the prior year.

The company's CEO, Michael Kliger, expressed strong confidence in the Mytheresa operation, citing "clear operational and financial leadership in digital luxury."

Integration Challenges and Forward Guidance

The report provides the first consolidated glimpse of the enlarged group, including the recently acquired YNAP assets. The results from the YNAP segments (Luxury | NAP & MRP and Off-price | YOOX & THE OUTNET) for the full twelve-month period illustrate the challenge ahead, with both segments reporting negative Adjusted EBITDA.

Management has issued guidance for fiscal year 2026, characterizing it as a "transition year." The company expects Group-level GMV between €2.5 billion and €2.9 billion, with an Adjusted EBITDA margin ranging from -4% to +1%. This outlook for profitability in the near term falls short of the current analyst estimate for full-year 2026 revenue of approximately €2.67 billion, and more importantly, does not provide a clear path to positive EPS, for which analysts are currently estimating a loss of €0.23.

The guidance reflects the considerable work required to integrate YNAP, streamline operations, and return the acquired businesses to growth. The company has already initiated cost-reduction actions and a partial workforce reduction at YNAP.

Market Reaction and Investment Perspective

The market's cautious response suggests investors are weighing the proven, profitable growth of the Mytheresa business against the significant uncertainty and near-term costs associated with the YNAP integration. The wider Q4 EPS loss and the subdued profitability guidance for the coming year appear to be tempering enthusiasm for the revenue beat.

The medium-term targets of €4 billion in net sales and an Adjusted EBITDA margin of 7% to 9% provide a long-term vision, but the focus for now remains squarely on the execution risks throughout fiscal 2026.

For a detailed look at historical earnings and future analyst estimates for LuxExperience B.V., you can review the data here.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security.