Revenue growth remains highly volatile, oscillating between a 17.5% decline in 2023Q4 and a 10.5% increase in 2026Q1, while operating margins frequently dip into negative territory.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 |
|---|
| Sales/Revenue | 306.11M | 300.01M | 293.45M | 292.89M | 357.44M | 322.68M | 219.87M | 375.19M | 278.95M | 272.58M | 268.2M | 302.46M | 340.4M | 288.17M | 708M | 175.25M |
| Revenue Growth % | 4.76% | 2.23% | 0.19% | -18.06% | 10.77% | 46.76% | -41.4% | 34.5% | 2.34% | 1.63% | -11.33% | -11.15% | 18.12% | -59.3% | 303.98% | - |
| Cost of Goods Sold | 153.74M | 150.86M | 148.27M | 159.6M | 227.72M | 182.41M | 131.27M | 196.76M | 148.23M | 150.79M | 145.38M | 169.94M | 173.57M | 155.15M | 507.9M | 89.55M |
| COGS % of Revenue | - | 50.29% | 50.53% | 54.49% | 63.71% | 56.53% | 59.7% | 52.44% | 53.14% | 55.32% | 54.21% | 56.19% | 50.99% | 53.84% | 71.74% | 51.09% |
| Gross Profit | 152.37M | 149.14M | 145.18M | 133.29M | 129.73M | 140.27M | 88.6M | 178.43M | 130.72M | 121.79M | 122.82M | 132.52M | 166.83M | 133.02M | 200.09M | 85.71M |
| Gross Margin % | 49.78% | 49.71% | 49.47% | 45.51% | 36.29% | 43.47% | 40.3% | 47.56% | 46.86% | 44.68% | 45.79% | 43.81% | 49.01% | 46.16% | 28.26% | 48.91% |
| Gross Profit Growth % | - | 2.73% | 8.92% | 2.75% | -7.52% | 58.32% | -50.35% | 36.49% | 7.34% | -0.84% | -7.32% | -20.57% | 25.42% | -33.52% | 133.45% | - |
| Operating Expenses | 141.34M | 139.91M | 162.35M | 101.67M | 153.19M | 139.79M | 122.8M | 179.33M | 126.59M | 140.11M | 134.43M | 116.79M | 96.58M | 83.66M | 179.65M | 42.79M |
| OpEx % of Revenue | - | 46.63% | 55.33% | 34.71% | 42.86% | 43.32% | 55.85% | 47.8% | 45.38% | 51.4% | 50.12% | 38.61% | 28.37% | 29.03% | 25.37% | 24.42% |
| Selling, General & Admin | 141.34M | 139.91M | 138.02M | 134.48M | 153.19M | 139.79M | 122.8M | 179.33M | 126.59M | 140.11M | 134.43M | 116.79M | 96.58M | 83.66M | 177.75M | 42.79M |
| SG&A % of Revenue | - | 46.63% | 47.03% | 45.91% | 42.86% | 43.32% | 55.85% | 47.8% | 45.38% | 51.4% | 50.12% | 38.61% | 28.37% | 29.03% | 25.11% | 24.42% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 24.34M | -32.81M | 0 | 0 | 0 | 0 | -225K | 0 | -329K | 0 | -835K | -679K | -2.72M | 0 |
| Operating Income | 11.03M | 9.24M | -17.18M | 31.62M | -23.46M | 483K | -34.21M | 45.34M | 4.14M | -18.32M | -64.67M | 15.73M | 70.25M | 49.35M | 20.16M | 42.92M |
| Operating Margin % | 3.6% | 3.08% | -5.85% | 10.8% | -6.56% | 0.15% | -15.56% | 12.08% | 1.48% | -6.72% | -24.11% | 5.2% | 20.64% | 17.13% | 2.85% | 24.49% |
| Operating Income Growth % | - | 153.78% | -154.31% | 234.79% | -4957.56% | 101.41% | -175.44% | 995.46% | 122.6% | 71.68% | -511.24% | -77.61% | 42.34% | 144.83% | -53.03% | - |
| EBITDA | 13.79M | 12.15M | -12.86M | 36.56M | -15.22M | 6.78M | -27.57M | 54.82M | 15.28M | -8.22M | -55.99M | 24.08M | 75.52M | 52.14M | 28.55M | 44.62M |
| EBITDA Margin % | 4.51% | 4.05% | -4.38% | 12.48% | -4.26% | 2.1% | -12.54% | 14.61% | 5.48% | -3.02% | -20.88% | 7.96% | 22.18% | 18.09% | 4.03% | 25.46% |
| EBITDA Growth % | 64.39% | 194.46% | -135.17% | 340.25% | -324.37% | 124.6% | -150.29% | 258.88% | 285.86% | 85.32% | -332.55% | -68.12% | 44.84% | 82.63% | -36.02% | - |
| D&A (Non-Cash Add-back) | 2.76M | 2.91M | 4.32M | 4.94M | 8.24M | 6.3M | 6.63M | 9.48M | 11.14M | 10.1M | 8.68M | 8.35M | 5.27M | 2.79M | 8.39M | 1.7M |
| EBIT | 12.69M | 10.8M | -16.83M | 31.62M | -25.42M | 483K | -58.78M | 35.45M | 5.12M | 63.56M | -65M | 18.43M | 70.25M | 59.1M | 40.17M | 42.44M |
| Net Interest Income | -3.21M | -3.43M | -6.57M | -11.12M | -9.89M | -8.61M | -5.01M | -4.96M | -6.92M | -5.54M | -3.93M | -5.68M | -9.7M | -18.01M | -68.68M | -81.36M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.21M | 3.43M | 6.57M | 11.12M | 9.89M | 8.61M | 5.01M | 4.96M | 6.92M | 5.54M | 3.93M | 5.68M | 9.7M | 18.01M | 68.68M | 81.36M |
| Other Income/Expense | 227K | -276K | -5.51M | -11.12M | -11.85M | -8.61M | -2.7M | 50.88M | -7.16M | 76.34M | -4.26M | -7.41M | -10.53M | -18.69M | -69.45M | -81.84M |
| Pretax Income | 11.26M | 8.96M | -22.69M | 20.51M | -35.31M | -8.12M | -63.78M | 30.49M | -1.97M | 58.02M | -68.93M | 8.31M | 59.72M | 30.66M | -104.95M | -38.92M |
| Pretax Margin % | 3.68% | 2.99% | -7.73% | 7% | -9.88% | -2.52% | -29.01% | 8.13% | -0.71% | 21.29% | -25.7% | 2.75% | 17.54% | 10.64% | -14.82% | -22.21% |
| Income Tax | 2.18M | 2.58M | -3.64M | -3.48M | 3.04M | 4.58M | 166K | 98K | 54K | -572K | 93.73M | 3.21M | 23.99M | 7.27M | 708K | 3M |
| Effective Tax Rate % | 19.33% | 28.83% | 16.05% | -16.96% | -8.6% | -56.4% | -0.26% | 0.32% | -2.74% | -0.99% | -135.97% | 38.66% | 40.18% | 23.7% | -0.67% | -7.7% |
| Net Income | 9.08M | 6.38M | -19.05M | 25.45M | -38.35M | -12.7M | -63.95M | 30.4M | -2.02M | 58.6M | -162.66M | 5.1M | 35.72M | -27.42M | -107.71M | -147.87M |
| Net Margin % | 2.97% | 2.13% | -6.49% | 8.69% | -10.73% | -3.94% | -29.08% | 8.1% | -0.72% | 21.5% | -60.65% | 1.69% | 10.49% | -9.52% | -15.21% | -84.37% |
| Net Income Growth % | 132.16% | 133.49% | -174.85% | 166.36% | -201.84% | 80.13% | -310.39% | 1603.26% | -103.45% | 136.02% | -3290.02% | -85.73% | 230.28% | 74.54% | 27.16% | - |
| Net Income (Continuing) | 9.08M | 6.38M | -19.05M | 23.98M | -38.35M | -12.7M | -65.65M | 30.4M | -1.96M | 58.6M | -162.66M | 5.1M | 35.72M | 23.39M | -29.7M | -41.92M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.71 | 0.49 | -1.51 | 2.04 | -3.14 | -1.07 | -5.43 | 2.55 | -0.17 | 7.70 | -33.03 | 1.36 | 8.77 | -8.79 | -37.23 | -51.11 |
| EPS Growth % | 131.46% | 132.45% | -174.02% | 164.97% | -193.46% | 80.29% | -312.94% | 1600% | -102.21% | 123.31% | -2528.68% | -84.49% | 199.77% | 76.39% | 27.16% | - |
| EPS (Basic) | - | 0.49 | -1.51 | 2.05 | -3.14 | -1.07 | -5.43 | 2.60 | -0.18 | 7.70 | -33.03 | 1.39 | 9.14 | -8.83 | -37.23 | -51.11 |
| Diluted Shares Outstanding | 12.85M | 13.08M | 12.58M | 12.48M | 12.22M | 11.9M | 11.77M | 11.93M | 11.62M | 7.61M | 4.92M | 4.14M | 4.22M | 3.12M | 2.89M | 2.89M |
| Basic Shares Outstanding | 12.85M | 12.98M | 12.58M | 12.44M | 12.22M | 11.9M | 11.77M | 11.67M | 11.52M | 7.61M | 4.92M | 4.06M | 4.05M | 3.1M | 2.89M | 2.89M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and solvency constraints
According to recent financial filings, VNCE's revenue growth has exhibited significant volatility, oscillating between a 17.5% decline in 2023Q4 and a 10.5% increase in 2026Q1, reflecting the ongoing challenges of stabilizing the core brand while exiting secondary product lines in a highly competitive apparel market.
The inconsistent top-line performance suggests that the company is struggling to find a sustainable growth baseline following the divestiture of non-core brands. Investors should monitor whether the recent 10.5% growth in 2026Q1 represents a durable recovery or merely a temporary fluctuation driven by promotional activity.
As reported in quarterly statements, the company has maintained gross margins consistently near the 50% threshold, yet this pricing power fails to translate into bottom-line profitability, with operating margins frequently dipping into negative territory as seen in the most recent 2026Q1 period of -4.1%.
While the 49.71% average gross margin indicates that the 'quiet luxury' aesthetic retains some pricing authority, the inability to scale operating income suggests that the cost of goods and retail overhead are poorly aligned with current revenue levels. This structural disconnect implies that the brand may be over-indexed on high-cost physical channels.
Based on the provided income statement data, SG&A expenses frequently exceed gross profit, as evidenced by the 2026Q1 SG&A spend of $35.0 million against a gross profit of $32.4 million, indicating a lack of operational leverage that prevents the company from scaling effectively during revenue upticks.
The persistent inability to contain SG&A costs relative to gross profit suggests that the corporate infrastructure remains oversized for the current $300 million revenue scale. This lack of efficiency warrants further investigation into whether the transition to an asset-light licensing model will successfully reduce these fixed costs.
Analysis of reported figures reveals that net income is highly erratic, with significant swings such as the $28.3 million loss in 2024Q4 followed by a $12.1 million profit in 2025Q2, suggesting that non-operating items and restructuring charges are heavily distorting the underlying earnings power of the business.
The wide variance in net income, often decoupled from operating performance, indicates that investors should focus on core operating metrics rather than bottom-line EPS. The presence of stock-based compensation and potential one-time charges related to the ABG licensing deal further complicates the assessment of true recurring profitability.
With reported cash and equivalents of only $498,000, the company's financial position appears precarious, as highlighted by the consistent operating losses that threaten to exhaust remaining liquidity and potentially necessitate dilutive capital raises to sustain ongoing operations in the face of high fixed-cost obligations.
The extremely thin cash buffer suggests that the company has little room for error in its working capital management or seasonal inventory sell-through. This vulnerability implies that any further disruption in wholesale demand could lead to a liquidity crisis, regardless of the brand's aesthetic appeal.
Quick answers to the most common questions about buying VNCE stock.
For fiscal year 2025, Vince Holding Corp. (VNCE) reported total revenue of $300.0M. This represents a 71.2% increase compared to $175.3M in 2011.
Vince Holding Corp. (VNCE) is profitable, generating $6.4M in net income for the fiscal year ending 2025 with a net profit margin of 2.1%.
Vince Holding Corp. (VNCE) reported an operating income of $9.2M, resulting in an operating profit margin of 3.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Vince Holding Corp. (VNCE) generated $149.1M in gross profit for the year, representing a gross profit margin of 49.7%. This demonstrates the company's core pricing power and production efficiency.