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REF · Reformation Inc.

Track REF — free
$13.99 -0.51 (-3.52%) At close · Oct 21
Market Cap
$856.65M
Shares
59.08M
Volume · Oct 21 138.53K Avg daily vol (59 sessions) 595.02K

Price & Indicators

Drag to pan · scroll to zoom
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$13.99 Open$14.42 Day$13.95–14.61 Available close range$12.04–16.84 Avg vol 30d559K Short int2.6M · 4.3% float · 3.0d Short vol83% Last earningsSep 10, 2026 DataJul 2026–Oct 2026 Filing10-Q · Sep 11

The closing range uses available history since Jul 30, 2026; less than a full year is stored.

Up next

filed Sep 11, 2026
call held Sep 10, 2026

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
—
Trailing 12 months
Net income (TTM)
—
Trailing 12 months
Revenue growth YoY
+24.1%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
−$164.90M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+3.3%
Year over year · more shares
Price change (1Y)
—
Trailing year
Short interest
4.3%
Latest settlement · 3.0 days to cover
View all 122 metrics

AI Brief

Q2 FY26 earnings call · Sep 10, 2026
Q2 FY26

TL;DR. Reformation reported Q2 FY2026 net revenue of $155.2 million (up 24.1%) and adjusted EBITDA margin of 16.4%, its 21st consecutive quarter of double-digit growth, and initiated FY2026 net revenue guidance of $602–$606 million (~18.6%–19.5% growth) with adjusted EBITDA margin of 14.0%–14.2%.

Bullish
  • + Q2 net revenue grew 24.1% to $155.2 million, marking 21 consecutive quarters of double-digit growth.
  • + Gross margin expanded 230 bps to 66.7% on lower tariff rates and higher AUR.
  • + Active customers grew 22.9% to 1.2 million on an LTM basis, led by both new and returning customer strength.
  • + Wholesale revenue grew 48.7% to $19.9 million and international revenue grew 36.8% to $31.2 million on expansion in France.
  • + Net debt was reduced to ~0.9x net leverage after the IPO used ~$110 million of proceeds to repay debt.
Bearish
  • − DTC net revenue per customer declined 1.4% as outsized new customer growth weighed on the blended metric.
  • − A $90 million recapitalization dividend was funded ahead of the IPO, increasing total debt to $246.7 million at quarter end.
  • − Inventory grew 25.7% to $81.8 million, driven by new store openings and higher sales volume.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Sell
SellHoldBuy
Technical Buy Momentum Limited Sentiment Bearish Fundamentals Limited Quant / Vol Very High
Market backdrop VIX 16.7 · calm Equity put/call 0.52
Technical
price trend
Buy
50 / 200-day cross No cross
Price vs 50-day avg +0%
above
RSI (14) 52
neutral
MACD trend Positive
52-week position 41%
mid-range
Volume (OBV) Confirms
volume backs price
Momentum
relative strength
Limited
Not enough data for a confident read.
Sentiment
smart money
Bearish
Trend (MA cross) No cross
50/200-day averages unavailable
Institutional flow Flat
No 13F holder data
Insider flow Distributing
Net -$14.6M over 90 days · 25% sells
Short interest Rising
4.32% of float · ▲ +24.5% MoM · 3.0 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
No 13F holder history
Squeeze score 69
elevated · 0–100
Fundamentals
Limited
Not enough data for a confident read.
Quant / Vol
risk profile
Very High
Volatility 64%
annualized · 1-yr
Max drawdown −29%
past year
ATR 6.0%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Sep 10, 2026
full year 2026
Net revenue $602M – $606M
fiscal year 2026
Adjusted EBITDA margin Non-GAAP 14% – 14.2%
2026
Capital expenditures $23M – $27M

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Buy
0 · 4 · 2
50 / 200-day cross
No cross Neutral
Price vs 50-day avg
+0% Bullish
RSI (14)
52 Neutral
MACD trend
Positive Bullish
52-week position
41% Neutral
Volume (OBV)
Confirms Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross) No cross
50/200-day averages unavailable
Institutional flow Flat
No 13F holder data
Insider flow Distributing
Net -$14.6M over 90 days · 25% sells
Short interest Rising
4.32% of float · ▲ +24.5% MoM · 3.0 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
No 13F holder history
Price context
position in its available closing range
Range low $12 Now $14 · 41% Range high $17
vs 50-day avg +0%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Stores 70 Q2 FY2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Apparel Retail — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
REF
Reformation Inc.
this stock
$856.65M — — — 4.3%
IDEXF
Industria de Diseno Textil Inditex SA
$200.11B -3.2% — — 0.0%
TJX
Tjx Companies Inc
$161.10B -5.3% +6.0% 27.1 1.7%
ROST
Ross Stores, Inc.
$75.79B +30.0% +7.7% 28.7 3.2%
BURL
Burlington Stores, Inc.
$15.59B -14.1% +8.8% 22.3 5.1%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Held by Funds
Fund positions
13
View
Short & Settlement
Short Interest Rising
Shares short
2.6M
Days to cover
3.0d
Change
+501.8K sh
View
Short Volume
Short vol %
83%
As of
Oct 21, 2026
Short Total
View
Fails to Deliver
FTD shares
3
Value
$37
As of
Sep 30, 2026
View
Off-Exchange
Off-exchange %
45.9%
Week of
Sep 14, 2026
Off-exch Lit
View
Smart Money
Insider Trades Cluster buy
Net (90d)
-$14.6M
Buyers / Sellers
3 / 1
Buyers Sellers
View
Filings
SEC Filings
Latest
10-Q
Filed
Sep 11, 2026
This year
6
View
Exempt Offerings
Offering
$1.2M
Filed
Jun 23, 2026
View
Earnings & Events
Webcasts
Last webcast
Sep 10, 2026
View

Performance

5D 20D 120D MTD YTD
REF +3.2% +12.2% — +16.2% —
SPY +0.5% +0.7% +7.6% +1.4% +13.4%
vs SPY +2.7% +11.5% — +14.8% —
Key facts CIK 1787117 CUSIP 75867H106 13F (30d) 1 filings 1 filers Visit website Investor relations