Revenue growth reached 159.2% in 2025Q3, yet the company reported a negative operating margin of 5.0% as SG&A expenses ballooned to $298.4M.
| Sales/Revenue | 2.43B | 1.25B | 840.85M | 766M | 687.78M | 612.1M | 449.49M |
| Revenue Growth % | 173.32% | 49.25% | 9.77% | 11.37% | 12.36% | 36.18% | - |
| Cost of Goods Sold | 1.33B | 655M | 456.32M | 386.03M | 334.76M | 325.05M | 239.55M |
| COGS % of Revenue | - | 52.19% | 54.27% | 50.4% | 48.67% | 53.1% | 53.29% |
| Gross Profit | 1.1B | 600M | 384.53M | 379.98M | 353.02M | 287.04M | 209.94M |
| Gross Margin % | 45.26% | 47.81% | 45.73% | 49.6% | 51.33% | 46.9% | 46.71% |
| Gross Profit Growth % | - | 56.03% | 1.2% | 7.63% | 22.99% | 36.73% | - |
| Operating Expenses | 627.26M | 40M | 406.49M | 388.66M | 350.16M | 319.2M | 189.03M |
| OpEx % of Revenue | - | 3.19% | 48.34% | 50.74% | 50.91% | 52.15% | 42.05% |
| Selling, General & Admin | 1.11B | 527.4M | 253.63M | 254.25M | 241.77M | 231.72M | 123.73M |
| SG&A % of Revenue | - | 42.02% | 30.16% | 33.19% | 35.15% | 37.86% | 27.53% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | -487.4M | 152.85M | 134.41M | 108.39M | 87.48M | 65.3M |
| Operating Income | 473.03M | 560M | -21.95M | -8.68M | 2.87M | -32.16M | 20.91M |
| Operating Margin % | 19.46% | 44.62% | -2.61% | -1.13% | 0.42% | -5.25% | 4.65% |
| Operating Income Growth % | - | 2650.9% | -152.86% | -403.04% | 108.91% | -253.81% | - |
| EBITDA | 537.89M | 585.4M | -16.71M | 2.97M | 11.95M | -23.93M | 28.8M |
| EBITDA Margin % | 22.13% | 46.65% | -1.99% | 0.39% | 1.74% | -3.91% | 6.41% |
| EBITDA Growth % | 2589.42% | 3602.24% | -662.61% | -75.14% | 149.95% | -183.1% | - |
| D&A (Non-Cash Add-back) | 64.86M | 25.4M | 5.24M | 11.65M | 9.09M | 8.23M | 7.88M |
| EBIT | 476.41M | 621M | -9.22M | -8.32M | 2.87M | -9.74M | 18.76M |
| Net Interest Income | -3.9M | -5.1M | -4.77M | -2.46M | -998K | -7.12M | -8.91M |
| Interest Income | 1.95M | 0 | 5K | 358K | 0 | 202K | 56K |
| Interest Expense | 5.85M | 5.1M | 4.78M | 2.82M | 998K | 7.33M | 8.97M |
| Other Income/Expense | -1.22M | -5.1M | -4.77M | -2.46M | -998K | 15.09M | -11.12M |
| Pretax Income | 471.81M | 554.9M | -26.73M | -11.14M | 1.87M | -17.07M | 9.79M |
| Pretax Margin % | 19.41% | 44.22% | -3.18% | -1.45% | 0.27% | -2.79% | 2.18% |
| Income Tax | 15.37M | 2.6M | -1.81M | 5.88M | 11.18M | 15.53M | 3.44M |
| Effective Tax Rate % | 3.26% | 0.47% | 6.79% | -52.75% | 599.04% | -91% | 35.14% |
| Net Income | 444.14M | 552.3M | -24.91M | -17.02M | -9.32M | -32.6M | 6.35M |
| Net Margin % | 18.27% | 44.01% | -2.96% | -2.22% | -1.35% | -5.33% | 1.41% |
| Net Income Growth % | 1258.22% | 2317.09% | -46.37% | -82.67% | 71.42% | -613.45% | - |
| Net Income (Continuing) | 456.43M | 552.3M | -24.91M | -17.02M | -9.32M | -32.6M | 6.35M |
| Discontinued Operations | -1000K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.17 | 5.53 | -0.29 | -0.20 | -0.11 | -0.42 | 0.07 |
| EPS Growth % | 923.79% | 2006.9% | -45% | -81.82% | 73.81% | -667.57% | - |
| EPS (Basic) | - | 5.77 | -0.29 | -0.20 | -0.11 | -0.42 | 0.07 |
| Diluted Shares Outstanding | 140.3M | 99.8M | 86.8M | 86.6M | 86.3M | 77.4M | 85.78M |
| Basic Shares Outstanding | 140.3M | 99.87M | 86.8M | 86.6M | 86.3M | 77.4M | 85.78M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Post-merger integration and profitability
According to the latest quarterly data, LUXE experienced a significant revenue surge to $628.6M in 2025Q3, representing a 159.2% year-over-year growth rate, which appears to be primarily driven by the inorganic contribution of the YNAP brand portfolio integration rather than organic platform velocity.
The dramatic shift in top-line trajectory suggests a fundamental change in the company's scale, yet the lack of corresponding profitability indicates that this growth is currently capital-intensive. Investors should monitor whether this revenue expansion can eventually translate into sustainable market share or if it merely reflects the consolidation of legacy, lower-margin operations.
Based on reported financial statements, gross margins have fluctuated significantly, dropping from a peak of 50.9% in 2024Q2 to 42.5% in 2025Q3, suggesting that the integration of off-price segments is exerting downward pressure on the company's ability to maintain premium pricing power.
The compression in gross margins implies that the product mix is shifting toward lower-margin inventory, which may be necessary to clear stock but threatens the long-term luxury positioning. This trend warrants further investigation into whether the company can stabilize its margins as it attempts to harmonize the disparate pricing strategies of its newly acquired brands.
As reported in recent filings, SG&A expenses have ballooned to $298.4M in 2025Q3, significantly outpacing gross profit growth and resulting in a negative operating margin of 5.0%, which indicates that the company is currently failing to achieve the expected economies of scale from its recent expansion.
The inability to scale operating income alongside revenue suggests that the cost structure is becoming increasingly bloated, likely due to the complexities of managing multiple legacy tech stacks and fulfillment networks. Without a clear path to operating leverage, the current business model appears to be consuming cash at an unsustainable rate relative to its top-line growth.
Analysis of the income statement reveals a massive, anomalous net income of $586.0M in 2024Q4, which appears to be a non-recurring accounting event rather than operational performance, as the company returned to significant net losses in subsequent quarters, including a $36.0M loss in 2025Q3.
The extreme volatility in net income suggests that investors should focus on core operating metrics rather than headline earnings, which are currently obscured by one-time gains. The persistent net losses in the most recent periods indicate that the underlying business remains fundamentally unprofitable despite the recent inorganic growth.
Based on the provided figures, the sharp decline in net margins to -5.7% in 2025Q3 raises concerns regarding the viability of the current strategy, as the company appears to be trading profitability for scale in a highly competitive and cyclical luxury e-commerce environment.
Short-sellers would likely focus on the widening gap between revenue growth and cash generation, questioning whether the YNAP acquisition was a value-accretive move or a dilution of the core Mytheresa brand's profitability. The reliance on high-touch service models makes it difficult to see how the company will achieve the necessary cost discipline to reach consistent profitability in the near term.
Quick answers to the most common questions about buying LUXE stock.
For fiscal year 2024, LuxExperience B.V. (LUXE) reported total revenue of $1.25B. This represents a 179.2% increase compared to $449.5M in 2019.
LuxExperience B.V. (LUXE) is profitable, generating $552.3M in net income for the fiscal year ending 2024 with a net profit margin of 44.0%.
LuxExperience B.V. (LUXE) reported an operating income of $560.0M, resulting in an operating profit margin of 44.6%. This margin reflects the operational efficiency of the business before interest and taxes.
LuxExperience B.V. (LUXE) generated $600.0M in gross profit for the year, representing a gross profit margin of 47.8%. This demonstrates the company's core pricing power and production efficiency.