Perfect Moment (OTC: PMNT) grows 2026 revenue, boosts margins and cuts loss

Rhea-AI Filing Summary

Perfect Moment Ltd. reported fiscal Q4 and full-year 2026 results showing faster growth and much stronger profitability metrics. Revenue rose 13.4% in Q4 to $5.7 million and 9.8% for the year to $23.6 million, driven mainly by a 42.3% increase in wholesale revenue.

Gross margin expanded sharply to 83.0% in Q4 and 67.6% for the year, helped by supply chain efficiencies, better sourcing and disciplined pricing. Operating expenses fell, so net loss narrowed to $1.6 million in Q4 and $7.1 million for the year, with adjusted EBITDA loss improving to $3.5 million.

The balance sheet shows cash of $1.2 million at March 31, 2026, inventories of $3.9 million ahead of the winter season and a related-party line of credit of $5.1 million. Total liabilities exceed assets, resulting in a small stockholders’ deficit, even after securing $12 million in growth financing during the year.

Positive

• Revenue and channel mix improvement: Full-year revenue grew 9.8% to $23.6 million, with wholesale up 42.3% to $14.4 million, supporting a shift toward stronger partner-driven growth.
• Significant margin expansion and cost discipline: Gross margin increased from 48.5% to 67.6% and total operating expenses fell 12.5% to $21.2 million, driving substantial improvement in operating loss and adjusted EBITDA.
• Losses narrowing materially: Net loss was reduced from $15.9 million to $7.1 million and adjusted EBITDA loss improved from $11.3 million to $3.5 million, indicating better operating efficiency.

Negative

• Ongoing losses and equity deficit: Despite progress, the company still posted a $7.1 million net loss for the year and moved from positive equity to a $0.7 million stockholders’ deficit.
• Weaker cash position and higher reliance on debt: Cash and equivalents declined to $1.2 million from $6.2 million, while a $5.1 million non-current related-party line of credit became a key part of the capital structure.

Insights

Equity research analyst

Stronger margins and lower losses, but balance sheet remains tight.

Perfect Moment delivered nearly 10% annual revenue growth to $23.6M, with gross margin rising to 67.6%. Wholesale rose 42.3% to $14.4M, offsetting intentional declines in discounted eCommerce as the brand moves to a full‑price model.

Cost controls reduced operating expenses to $21.2M, cutting net loss to $7.1M and improving adjusted EBITDA loss to $3.5M. This suggests the underlying operating model is becoming more efficient, especially given four consecutive quarters of margin and EBITDA improvement noted by management.

However, cash fell to $1.2M and stockholders’ equity swung to a $0.7M deficit, with a $5.1M related‑party credit line supporting liquidity. Future filings will clarify how the $12M growth financing and higher inventories convert into sustained profitable growth through fiscal 2027 and the winter season.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q4 2026 revenue: $5.7 million Full-year 2026 revenue: $23.603 million Full-year gross margin: 67.6% +5 more

8 metrics

Q4 2026 revenue $5.7 million Fourth quarter 2026, up 13.4% from $5.0 million

Full-year 2026 revenue $23.603 million Year ended March 31, 2026, up 9.8% from $21.501 million

Full-year gross margin 67.6% Year ended March 31, 2026, versus 48.5% prior year

Full-year net loss $7.131 million Year ended March 31, 2026, improved from $15.939 million

Adjusted EBITDA loss 2026 $3.494 million Year ended March 31, 2026, versus $11.307 million

Cash and cash equivalents $1.151 million Balance at March 31, 2026, down from $6.159 million

Wholesale revenue 2026 $14.4 million Full year 2026, up 42.3% from $10.1 million

Stockholders’ equity -$0.686 million Deficit at March 31, 2026, versus $1.856 million previously

Key Terms

Adjusted EBITDA, Non-GAAP, OTCQB Venture Market, Series AA convertible preferred stock, +2 more

6 terms

Adjusted EBITDA financial

"We define Adjusted EBITDA as net income (loss), plus interest expense, depreciation and amortization"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Non-GAAP financial

"Adjusted EBITDA is not a recognized measurement under GAAP and should not be considered as an alternative"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

OTCQB Venture Market market

"Common Stock, par value $0.0001 per share | | PMNT | | OTCQB Venture Market"

The OTCQB Venture Market is a tier of the over‑the‑counter (OTC) trading platform that groups early‑stage, smaller companies that do not meet the stricter requirements of higher OTC tiers. It gives investors a way to buy and sell shares in these higher‑risk, less mature firms with generally lower reporting and transparency standards; think of it as a marketplace’s “starter lane” where potential is available but uncertainty and volatility are higher, so investors should expect greater risk and do extra homework.

Series AA convertible preferred stock financial

"Series AA convertible preferred stock, $0.0001 par value, 1,800,000 shares authorized"

line of credit from related party financial

"Line of credit from related party, non-current | | | 5,140"

forward-looking statements regulatory

"This press release contains “forward-looking statements” within the meaning of the safe harbor provisions"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Earnings Snapshot

Revenue: $23.603 million

Fiscal year ended March 31, 2026

Revenue $23.603 million +9.8% year-over-year

Gross margin 67.6% from 48.5% year-over-year

Net loss $7.131 million improved from $15.939 million

Adjusted EBITDA -$3.494 million improved from -$11.307 million

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Available on EDGAR 07/06/2026 - 05:01 PM Accepted by SEC EDGAR 07/06/2026 - 05:00 PM Learn about SEC filing dates

FAQ

How did Perfect Moment (PMNT) perform financially in fiscal year 2026?

Perfect Moment grew revenue 9.8% to $23.6 million in fiscal 2026. Gross margin improved to 67.6% and operating expenses fell, cutting net loss to $7.1 million. Adjusted EBITDA loss improved to $3.5 million, showing better operating efficiency.

What were Perfect Moment’s fiscal Q4 2026 results?

In fiscal Q4 2026, Perfect Moment’s revenue rose 13.4% to $5.7 million. Gross margin reached 83.0% and total operating expenses declined to $6.4 million. Net loss narrowed sharply to $1.6 million, or $(0.02) per diluted share, versus $7.3 million previously.

How did Perfect Moment’s gross margins and profitability change year over year?

Gross margin improved from 48.5% to 67.6% in fiscal 2026, aided by supply chain efficiencies and pricing discipline. Net loss decreased from $15.9 million to $7.1 million, while adjusted EBITDA loss improved from $11.3 million to $3.5 million, reflecting stronger underlying performance.

What is driving Perfect Moment’s revenue growth by channel?

Revenue growth is led by wholesale, which increased 42.3% to $14.4 million for fiscal 2026. eCommerce revenue declined 17.9% to $8.3 million as the company intentionally reduced discounted online sales while repositioning toward a full-price brand model.

What does Perfect Moment’s liquidity and balance sheet look like?

At March 31, 2026, Perfect Moment held $1.2 million in cash, $2.1 million in accounts receivable, and $3.9 million in inventory. Total liabilities were $12.9 million, including a $5.1 million related-party credit line, resulting in a $0.7 million stockholders’ deficit.

How is Perfect Moment using non-GAAP measures like Adjusted EBITDA?

Perfect Moment reports Adjusted EBITDA to highlight core operating performance by excluding interest, depreciation, amortization, stock-based compensation and certain financing costs. For fiscal 2026, Adjusted EBITDA loss improved to $3.5 million from $11.3 million, but it remains a non-GAAP, supplemental metric.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 29, 2026

PERFECT MOMENT LTD.

(Exact name of registrant as specified in its charter)

Delaware		001-41930		86-1437114
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

244 5^th Ave Ste 1219

New York, NY 10001

(Address of principal executive offices, with zip code)

315-615-6156

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		PMNT		OTCQB Venture Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On June 29, 2026, Perfect Moment Ltd. (the “Company”) issued a press release reporting results for its fiscal fourth quarter and full year ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

The information included in this Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall this item and Exhibit 99.1 be incorporated by reference into the Company’s filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such future filing.

Item 7.01. Regulation FD Disclosure.

The information under Item 2.02, above, is incorporated herein by reference.

The information reported under Items 2.02 and 7.01 in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed filed for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit		Description
99.1		Press Release, dated June 29, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PERFECT MOMENT LTD.
Date: July 6, 2026	By:	/s/ Jane Gottschalk
		Jane Gottschalk
		President, Chief Creative Officer and Director (Principal Executive Officer)

Exhibit 99.1

Perfect Moment Reports Fiscal Q4 and Full Year 2026 Results

Revenue increased double digits on a quarterly and annual basis

Gross margin and adjusted EBITDA improved significantly for the fourth consecutive quarter driven by strategic operational improvements executed throughout the year

Strong operational foundation sets stage for profitable growth in fiscal 2027 and beyond

LONDON—June 29, 2026—Perfect Moment Ltd. (OTC: PMNT) (“Perfect Moment” or the “Company”), the high-performance, luxury lifestyle brand that fuses technical excellence with fashion-led designs, reported results for its fiscal fourth quarter and full year ended March 31, 2026.

Fiscal Q4 2026 Financial Highlights

	●	Revenue up 13.4% to $5.7 million compared to $5.0 million in Q4 FY25.
	●	Gross margin improved significantly to 83.0% compared to 32.0% in Q4 FY25.
	●	Total operating expenses decreased 21.9% to $6.4 million compared to $8.2 million in Q4 FY25.
	●	Loss from operations improved by approximately $4.9 million to $1.6 million compared to a loss from operations of $6.6 million in Q4 FY25.
	●	Net loss improved by approximately $5.8 million to $1.6 million, or $(0.02) per diluted share, compared to a net loss of $7.3 million, or $(0.45) per diluted share, in Q4 FY25.
	●	Adjusted EBITDA loss improved by approximately $4.7 million to $1.0 million compared to an adjusted EBITDA loss of $5.7 million in Q4 FY25.

Fiscal Full Year 2026 Financial Highlights

	●	Revenue up 9.8% to $23.6 million compared to $21.5 million in the year-ago period.
	●	Gross margin improved to 67.6%, up from 48.5% in the year-ago period.
	●	Total operating expenses decreased 12.5% to $21.2 million compared to $24.2 million in the year-ago period.
	●	Loss from operations improved by approximately $8.6 million to $5.2 million compared to a loss from operations of $13.8 million in the year-ago period.
	●	Net loss improved by approximately $8.8 million to $7.1 million, or $(0.23) per diluted share, compared to a net loss of $15.9 million, or $(0.99) per diluted share, in the year-ago period.
	●	Adjusted EBITDA loss improved by approximately $7.8 million to $3.5 million compared to an adjusted EBITDA loss of $11.3 million in the year-ago period.

Management Commentary

“Fiscal 2026 was a defining year for Perfect Moment – one where the strategic work we’ve been executing is now clearly visible in our annual results,” said Jane Gottschalk, Co-Founder, Creative Director and President of Perfect Moment. “Growing revenue 10%, achieving meaningful gross margin expansion, and significantly narrowing losses reflect our team’s collective commitment to transform this business into a sustainable, profitable grower. Importantly, we achieved this growth while navigating a complex global duty and tariff environment, a testament to the resilience of the operating model we’ve built. During the quarter, we also strengthened our financial foundation by securing $12 million in growth financing, enhancing our liquidity and providing flexibility to expand our product categories, execute our strategic initiatives, and continue our path toward sustainable profitability. We have made meaningful progress in our evolution into a four-season luxury outerwear and lifestyle brand, and I am confident that the foundation we’ve built positions us to deliver lasting value for our shareholders as we move into fiscal 2027 and beyond.”

Chath Weerasinghe, Chief Financial and Operating Officer of Perfect Moment, commented: “Our results reflect the full impact of the operational and financial discipline we have instilled across the business. Annual Wholesale channel growth of 42% was a significant contributor to our overall double digit revenue increase, underscoring the strength of our partner relationships and commercial strategy. Over the past year, we’ve significantly improved the efficiency of our operating model – our European fulfilment center meaningfully improved supply chain efficiency and reduced transit times across key markets, while renegotiated supplier terms and enhanced vendor management drove more favorable input costs. Disciplined pricing ensured margin preservation across channels without compromising our competitive positioning, and broader supply chain reengineering allowed us to optimize cost structures across the full product lifecycle despite headwinds during the year – collectively delivering significant gross margin expansion for the year. We enter fiscal 2027 and the winter season with the infrastructure, cost discipline and commercial momentum to pursue continued profitable growth and create long-term shareholder value.”

Brand and Marketing Highlights

Perfect Moment’s brand strategy is built on three pillars: aspirational positioning rooted in ski heritage, a distinctive visual identity that travels across channels, and high-impact partnerships that extend reach into new audiences. In FY2026, this strategy delivered strong results.

	●	Global UVPM (Unique Visitors per Month): 16.8 billion, +1.2% year-over-year.
	●	Total Social Audience (KOLs): 1.2 billion, +28% year-over-year.
	●	Social Audience During Ski Season (FQ3–FQ4): 905.2 million, +52% year-over-year.

The Company’s strategic collaboration with Alpine Formula One Team was a standout contributor, generating over 1.1 billion in global PR reach (UVPM) and delivering strong social performance across both brand channels — demonstrating the effectiveness of targeted, high-profile collaborations in amplifying visibility and engagement.

Looking ahead, there is significant runway in underpenetrated and emerging markets, where Perfect Moment’s aspirational positioning and growing global media presence provide a strong foundation for continued customer acquisition.

Fiscal Q4 and Full Year 2026 Financial Summary

Fourth quarter total net revenue increased 13.4% to $5.7 compared to $5.0 million in the year-ago quarter. For the full year 2026, total net revenue was $23.6 million, an increase of 9.8% compared to $21.5 million in the same comparable year-ago period. The increase was driven by a stronger wholesale order book and improved operational execution, enabling more efficient fulfillment and shipping timing compared to the prior period.

Fourth quarter eCommerce net revenue decreased 12.7% to $3.7 million compared to $4.3 million in the year-ago quarter. For the full year 2026, eCommerce net revenue decreased 17.9% to $8.3 million compared to $10.1 million in the same comparable year-ago period. The decreases reflect the Company’s strategic shift away from discounted online sales as it transitions toward a full-price brand model.

Fourth quarter wholesale revenue increased significantly to $1.5 million compared to $45,000 in the year-ago quarter. For the full year 2026, wholesale revenue increased 42.3% to $14.4 million compared to $10.1 million in the same comparable year-ago period.

Fourth quarter gross profit increased significantly to $4.7 million compared to $1.6 million in the year-ago quarter. Fourth quarter gross margins were 83.0% compared to 32.0% in the year-ago quarter. For the full year 2026, gross profit increased 53.0% to $16.0 million compared to $10.4 million in the same comparable year-ago period. During the same period, gross margins were 67.6% compared to 48.5%. The increases primarily reflect improved supply chain efficiency, favorable sourcing economics, disciplined pricing, and broader supply chain optimization initiatives.

Fourth quarter total operating expenses decreased 21.9% to $6.4 million from $8.2 million in the year-ago quarter.

For the full year 2026, total operating expenses decreased 12.5% to $21.2 million from $24.2 million in the same comparable year-ago period. The decreases were driven by continued cost discipline and a more efficient allocation of marketing resources.

Fourth quarter loss from operations improved by approximately $4.9 million to $1.6 million compared to a loss from operations of $6.6 million in the year-ago quarter. For the full year 2026, loss from operations improved by approximately $8.6 million to $5.2 million compared to a loss from operations of $13.8 million in the same comparable year-ago period.

Fourth quarter net loss was $1.6 million, or $(0.02) per diluted share, compared to a net loss of $7.3 million, or $(0.45) per diluted share, in the year-ago quarter. For the full year 2026, net loss was $7.1 million, or $(0.23) per diluted share, compared to a net loss of $15.9 million, or $(0.99) per diluted share, in the same comparable year-ago period.

Fourth quarter adjusted EBITDA loss improved by approximately $4.7 million to $1.0 million compared to an adjusted EBITDA loss of $5.7 million in the year-ago quarter. For the full year 2026, adjusted EBITDA loss improved by approximately $7.8 million to $3.5 million compared to an adjusted EBITDA loss of $11.3 million in the same comparable year-ago period. The improvements in adjusted EBITDA were primarily driven by the aforementioned increase in gross profit, warehouse efficiencies and better cost control across distribution activities.

Balance Sheet Highlights

The Company’s liquidity position at March 31, 2026, reflects accounts receivable of $2.1 million compared to $5.1 million at December 31, 2025. This decrease primarily reflects the collection of outstanding receivables during the quarter, supporting overall liquidity in the current period.

Inventory of $3.9 million compared to $1.6 million in the same period last year. The increase reflects higher stock purchases to support the upcoming winter season, expanded sales channels, improved inventory planning and purchasing timing to support stronger sell-through performance.

About Perfect Moment Ltd.

Founded in Chamonix, France, Perfect Moment is a luxury outerwear and activewear brand that merges alpine heritage with fashion-forward performance. Known for its technical excellence, bold design, and versatile pieces that transition seamlessly from slopes to city, the brand is worn by athletes, tastemakers, and celebrities worldwide. Perfect Moment is traded on the OTCQB under the ticker symbol PMNT. Learn more at www.perfectmoment.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the sections titled “Risk Factors” in our Form 10-K for the fiscal year ended March 31, 2025, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

PERFECT MOMENT LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Amounts in thousands, except share and per share data)

		Year Ended March 31, 2026				Year Ended March 31, 2025
Revenue, net		$	23,603			$	21,501
Cost of sales			7,644				11,072
Gross profit			15,959				10,429
Operating expenses:
Selling, general and administrative expenses			17,965				20,685
Marketing and advertising expenses			3,234				3,540
Total operating expenses			21,199				24,225
Loss from operations			(5,240	)			(13,796	)
Other income (expense), net:
Interest expense and finance costs (including $1,002 and $0 of interest to related parties)			(2,280	)			(2,046	)
Foreign currency transactions gain (loss)			4				(107	)
Other income			385				10
Total other expense, net			(1,891	)			(2,143	)
Net Loss			(7,131	)			(15,939	)
Dividends on Series AA Convertible Preferred Stock			(506	)			-
Net loss attributable to common stockholders		$	(7,637	)		$	(15,939	)
Basic and diluted loss per share attributable to common stockholders		$	(0.23	)		$	(0.99	)
Basic and diluted weighted-average number of shares outstanding			33,074,619				16,095,138
Other comprehensive loss
Net loss		$	(7,131	)		$	(15,939	)
Foreign currency translation (loss) gain			(283	)			62
Comprehensive loss		$	(7,414	)		$	(15,877	)

PERFECT MOMENT LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share and per share data)

		March 31, 2026				March 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	1,151			$	6,159
Restricted cash			-				1,350
Accounts receivable, net			2,146				886
Inventories, net			3,897				1,567
Prepaid and other current assets			2,950				2,812
Total current assets			10,144				12,774
Long term assets:
Operating lease right-of-use assets			1,003				44
Property and equipment, net			499				483
Other non-current assets			582				36
Total assets		$	12,228			$	13,337
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Trade payables		$	3,601			$	2,594
Accrued expenses			2,859				4,233
Trade finance facility			-				2,495
Short-term borrowings, net			-				1,851
Operating lease obligations, current			37				44
Deferred revenue			245				264
Total current liabilities			6,742				11,481
Long term liabilities:
Line of credit from related party, non-current			5,140				-
Operating lease obligations, non-current			1,032				-
Total liabilities			12,914				11,481
Commitments and contingencies (see Note 14)			-				-
Stockholders’ (deficit) equity:
Series AA convertible preferred stock, $0.0001 par value, 1,800,000 shares authorized; Nil shares and 924,921 shares issued and outstanding as of March 31, 2026 and 2025, respectively			-				-
Common stock; $0.0001 par value, 100,000,000 shares authorized: 47,048,174 and 19,291,000 shares issued and outstanding as of March 31, 2026 and 2025, respectively			4				2
Additional paid-in-capital			71,663				66,793
Accumulated other comprehensive loss			(306	)			(23	)
Accumulated deficit			(72,047	)			(64,916	)
Total stockholders’ (deficit) equity			(686	)			1,856
Total liabilities and stockholders’ (deficit) equity		$	12,228			$	13,337

Use Of Non-GAAP Measures

In addition to our results under generally accepted accounted principles (“GAAP”), we present Adjusted EBITDA as a supplemental measure of our performance. However, Adjusted EBITDA is not a recognized measurement under GAAP and should not be considered as an alternative to net income, income from operations or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of liquidity. We define Adjusted EBITDA as net income (loss), plus interest expense, depreciation and amortization, stock-based compensation, financing costs and changes in fair value of derivative liability.

Management considers our core operating performance to be that which our managers can affect in any particular period through their management of the resources that affect our underlying revenue and profit generating operations in that period. Non-GAAP adjustments to our results prepared in accordance with GAAP are itemized below. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

Adjusted EBITDA

		For the Year Ended March 31, 2026				For the Year Ended March 31, 2025
Net loss, as reported		$	(7,131	)		$	(15,939	)
Adjustments:
Interest expense			2,280				2,046
Stock compensation expense			476				1,334
Amortization of stock-based marketing services			558				910
Depreciation and amortization			323				342
Adjusted EBITDA		$	(3,494	)		$	(11,307	)

We present adjusted EBITDA because we believe it assists investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Adjusted EBITDA in developing our internal budgets, forecasts, and strategic plan; in analyzing the effectiveness of our business strategies in evaluating potential acquisitions; and in making compensation decisions and in communications with our board of directors concerning our financial performance. Adjusted EBITDA has limitations as an analytical tool, which includes, among others, the following:

	●	Adjusted EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments;
	●	Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
	●	Adjusted EBITDA does not reflect future interest expense, or the cash requirements necessary to service interest or principal payments, on our debts; and
	●	Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and the Adjusted EBITDA does not reflect any cash requirements for such replacements.

Contacts

Investor Relations Contact:

Gateway Group
Cody Slach, Greg Robles
949.574.3860
PMNT@gateway-grp.com

Press Contact:

press@perfectmoment.com

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 135.1 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 3.0 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB