Answear.com (ANR) Q3 2025 earnings summary

Executive summary

• Revenue for 9M 2025 increased by 17.4% year-over-year to PLN 1,145.6 million, with EBITDA reaching PLN 45.1 million and net profit of PLN 8.0 million, marking a turnaround from prior losses and reflecting strong growth and profitability improvement after a period of investment.

• The premiumization strategy led to higher average order value (+6.4% y/y), improved gross margin (+1.4 p.p.), and reduced marketing cost ratio (-1.9 p.p.), with significant expansion of the product portfolio and PRM brand.

• Polish market sales grew 40% year-over-year, driven by synergy between online and offline channels and effective marketing, while international sales growth was lower due to currency headwinds, with 72% of sales outside Poland.

• Maintained leadership in growth and operational KPIs, including a 13% increase in active customers and a 6% rise in visits year-over-year.

• EBITDA margin improved to 3.9% in 9M 2025 from -0.5% in 9M 2024.

Financial highlights

• Gross margin for 9M 2025 increased by 1.4 percentage points year-over-year to 40.9%; Q3 margin up 0.7 percentage points.

• EBITDA for 9M 2025 reached 45.1 million PLN, a 1060% increase year-over-year; Q3 EBITDA was 14.9 million PLN, up 610%.

• Operating profit was PLN 26.9 million, up from a loss of PLN 20.7 million a year earlier.

• Net cash from operating activities increased to PLN 56.7 million (up 150.7% y/y).

• Marketing costs for 9M 2025 were 211.4 million PLN, with the marketing cost-to-sales ratio reduced to 18.9% from 20.8% a year earlier.

Outlook and guidance

• Focus remains on expanding the premium product offering, acquiring new brands, and monetizing previous investments, with plans for a mobile app, loyalty program, and qualitative marketing initiatives in 2026.

• Future results depend on macroeconomic conditions, consumer demand, the situation in Ukraine, currency fluctuations, and PRM brand development; no financial forecasts for 2025 were published.