Revenue growth remains stagnant with quarterly fluctuations between -1.9% and 10.1%, while the company continues to record negative operating margins, reaching -3.1% in 2026Q1.
a.k.a. Brands Holding Corp. (AKA) annual income statement — 7-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Sales/Revenue | 603.56M | 600.21M | 574.7M | 546.26M | 611.74M | 562.19M | 215.92M | 102.44M |
| Revenue Growth % | 0.91% | 4.44% | 5.21% | -10.7% | 8.81% | 160.37% | 110.77% | - |
| Cost of Goods Sold | 244.03M | 273.91M | 247.19M | 245.98M | 274.49M | 254.53M | 89.52M | 46.58M |
| COGS % of Revenue | - | 45.64% | 43.01% | 45.03% | 44.87% | 45.27% | 41.46% | 45.47% |
| Gross Profit | 359.53M | 326.3M | 327.5M | 300.28M | 337.25M | 307.66M | 126.4M | 55.87M |
| Gross Margin % | 59.57% | 54.36% | 56.99% | 54.97% | 55.13% | 54.73% | 58.54% | 54.53% |
| Gross Profit Growth % | - | -0.37% | 9.07% | -10.96% | 9.62% | 143.4% | 126.26% | - |
| Operating Expenses | 374.64M | 333.07M | 337.83M | 383.69M | 509.29M | 291.28M | 104.26M | 53.27M |
| OpEx % of Revenue | - | 55.49% | 58.78% | 70.24% | 83.25% | 51.81% | 48.29% | 52% |
| Selling, General & Admin | 356.14M | 287.98M | 337.83M | 303.67M | 335.5M | 277.38M | 104.26M | 53.27M |
| SG&A % of Revenue | - | 47.98% | 58.78% | 55.59% | 54.84% | 49.34% | 48.29% | 52% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 45.09M | 0 | 80.02M | 173.79M | 13.9M | 0 | 0 |
| Operating Income | -15.11M | -6.77M | -10.32M | -83.41M | -172.04M | 16.38M | 22.14M | 2.59M |
| Operating Margin % | -2.5% | -1.13% | -1.8% | -15.27% | -28.12% | 2.91% | 10.25% | 2.53% |
| Operating Income Growth % | - | 34.41% | 87.63% | 51.52% | -1150.11% | -26% | 753.84% | - |
| EBITDA | 8.23M | 10.99M | 7.28M | -64.27M | -151.69M | 33.09M | 28.9M | 8.82M |
| EBITDA Margin % | 1.36% | 1.83% | 1.27% | -11.77% | -24.8% | 5.89% | 13.39% | 8.61% |
| EBITDA Growth % | 17.7% | 51.02% | 111.32% | 57.63% | -558.38% | 14.5% | 227.69% | - |
| D&A (Non-Cash Add-back) | 23.34M | 17.76M | 17.6M | 19.14M | 20.35M | 16.71M | 6.76M | 6.23M |
| EBIT | -15.35M | -19.34M | -11.37M | -85.8M | -173.57M | 4.25M | 21.98M | 2.73M |
| Net Interest Income | -9.19M | -9.97M | -10.3M | -11.16M | -7.04M | -9.48M | -329K | -272K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 9.19M | 9.97M | 10.3M | 11.16M | 7.04M | 9.48M | 329K | 272K |
| Other Income/Expense | -9.43M | -22.55M | -11.34M | -13.56M | -8.57M | -21.62M | -485K | -139K |
| Pretax Income | -24.54M | -29.32M | -21.66M | -96.97M | -180.61M | -5.24M | 21.66M | 2.45M |
| Pretax Margin % | -4.07% | -4.88% | -3.77% | -17.75% | -29.52% | -0.93% | 10.03% | 2.4% |
| Income Tax | 2.21M | 2.12M | 4.33M | 1.92M | -3.92M | 852K | 6.85M | 1.01M |
| Effective Tax Rate % | -9.01% | -7.23% | -19.99% | -1.98% | 2.17% | -16.26% | 31.63% | 41.24% |
| Net Income | -26.75M | -31.43M | -25.99M | -98.89M | -176.7M | -5.97M | 14.33M | 1.39M |
| Net Margin % | -4.43% | -5.24% | -4.52% | -18.1% | -28.88% | -1.06% | 6.64% | 1.36% |
| Net Income Growth % | 0.07% | -20.95% | 73.72% | 44.04% | -2860.74% | -141.64% | 928.26% | - |
| Net Income (Continuing) | -26.75M | -31.43M | -25.99M | -98.89M | -176.7M | -6.09M | 14.8M | 1.44M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 9.98M | 8.73M |
| EPS (Diluted) | -2.45 | -2.93 | -2.46 | -9.24 | -16.47 | -0.57 | 1.34 | 0.13 |
| EPS Growth % | 1% | -19.11% | 73.38% | 43.9% | -2789.47% | -142.54% | 930.77% | - |
| EPS (Basic) | - | -2.93 | -2.46 | -9.24 | -16.47 | -0.57 | 1.34 | 0.13 |
| Diluted Shares Outstanding | 10.91M | 10.73M | 10.57M | 10.71M | 10.73M | 10.72M | 10.67M | 10.67M |
| Basic Shares Outstanding | 10.91M | 10.73M | 10.57M | 10.71M | 10.73M | 10.72M | 10.67M | 10.67M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying AKA stock.
For fiscal year 2025, a.k.a. Brands Holding Corp. (AKA) reported total revenue of $600.2M. This represents a 485.9% increase compared to $102.4M in 2019.
a.k.a. Brands Holding Corp. (AKA) reported a net loss of $31.4M for the fiscal year ending 2025.
a.k.a. Brands Holding Corp. (AKA) reported an operating income of $-6.8M, resulting in an operating profit margin of -1.1%. This margin reflects the operational efficiency of the business before interest and taxes.
a.k.a. Brands Holding Corp. (AKA) generated $326.3M in gross profit for the year, representing a gross profit margin of 54.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent negative operating margins
Metrics are mathematically derived from official filings.
Top Line Growth Remains Stagnant
As reported in recent financial filings, AKA's revenue growth has remained largely muted, fluctuating between a 1.9% decline and a 10.1% increase over the last ten quarters, suggesting that the company's social-first brand incubation model is struggling to achieve consistent, scalable top-line momentum in competitive markets.
The inconsistent revenue trajectory indicates that the company's reliance on discretionary consumer spending is highly sensitive to broader economic shifts. Investors should monitor whether the recent 3.0% growth in 2026Q1 represents a sustainable recovery or merely a seasonal anomaly in a volatile retail environment.
Gross Margin Strength Masks Inefficiency
Based on the company's reported figures, AKA maintains a robust gross margin profile averaging over 55%, yet this premium positioning fails to translate into bottom-line profitability, as the firm's high variable cost structure continues to erode the benefits of its high-margin, trend-led apparel product mix.
While the 63.1% gross margin achieved in 2026Q1 is impressive relative to traditional retail peers, the inability to convert this into positive operating income suggests significant inefficiencies in customer acquisition and fulfillment. The persistent gap between gross profit and operating income warrants further investigation into the scalability of their current marketing spend.
Operating Leverage Remains Elusive
According to the income statement data, AKA has failed to demonstrate meaningful operating leverage, with SG&A expenses frequently tracking near or above gross profit levels, which indicates that the company's fixed-cost base is currently too heavy to support its existing revenue scale and transactional business model.
The company's inability to scale operating income faster than gross profit suggests that the platform is not yet achieving the necessary efficiencies to justify its current overhead. Without a significant reduction in SG&A as a percentage of revenue, the path to sustained profitability appears increasingly narrow and difficult to navigate.
Persistent Losses Cloud Earnings Quality
As evidenced by the consistent string of negative net income figures over the past ten quarters, AKA's earnings quality is currently strained, with the company recording a net loss of $7.1 million in 2026Q1 despite maintaining a relatively high gross margin on its core product offerings.
The recurring nature of these losses, combined with the reliance on stock-based compensation to manage cash, suggests that the company is struggling to reach a self-sustaining operational state. Investors should be cautious of the potential for future dilutive financing if the current cash burn rate is not addressed.
Structural Risks to Margin Sustainability
Based on an analysis of the provided income statement, the primary risk to AKA's narrative is the potential for margin compression driven by rising digital advertising costs and the high fixed-cost burden associated with the recent expansion of physical retail footprints for the Culture Kings brand.
Short-sellers would likely focus on the company's inability to achieve positive operating margins despite its premium gross margin profile. The shift toward physical retail, while potentially brand-enhancing, introduces significant lease obligations that could exacerbate the company's existing liquidity challenges if consumer demand for experiential retail softens.