Perfect Moment Ltd Common (PMNT) Q3 2025 Earnings Report

PMNT reported a mixed QQ3 2025 performance characterized by a strong seasonal revenue rebound and persistent profitability challenges. Revenue for the quarter stood at $11.66 million, up 204.15% QoQ but down 8.39% YoY, reflecting the brand’s seasonality and a difficult prior-year base in Q3 2024. The gross margin remained healthy at 54.8%, signaling resilient product economics, yet the company generated an operating loss of $1.29 million and a net loss of $2.48 million, translating to an EPS of –$0.15. EBITDA was negative at $1.36 million, and free cash flow was negative at $1.23 million, with cash balance increasing to $4.12 million aided by financing activities of $2.81 million.

On the balance sheet, PMNT exhibits a modest liquidity cushion (current ratio ~1.01) but a highly leveraged position (total debt $6.69 million; net debt $3.92 million; stockholders’ equity $0.91 million). Retained earnings are deeply negative (~$57.59 million), indicating substantial accumulated losses and a fragile equity base. Management commentary (where available) is not captured in the provided transcript data, limiting insight into strategic levers, cost controls, and channel mix.

Overall, PMNT appears to be in a transition phase where topline volatility is driving seasonality-driven revenue spikes, but profitability and cash generation remain the primary hurdles. The key near-term questions for investors center on whether the company can scale its direct-to-consumer (DTC) model, optimize opex, and monetize the brand to generate sustainable positive cash flow, while managing leverage and commodity/supply chain pressures.