$PTRN

Pattern Group Inc.

CIK:0001811935|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 876,773	$ 598,150	$ 1,650,500	$ 1,138,556
Operating expenses:
Cost of goods sold	492,410	341,333	925,904	645,933
Operations, general and administrative	165,073	103,692	310,821	203,768
Sales and marketing	170,801	116,541	314,527	217,220
Research and development	12,953	6,455	24,141	12,098
Total operating expenses	841,237	568,021	1,575,393	1,079,019
Operating income	35,536	30,129	75,107	59,537
Interest income, net	2,199	1,688	4,453	3,205
Other income (expense), net	(197)	32	(479)	(129)
Income before income taxes	37,538	31,849	79,081	62,613
Provision for income taxes	10,039	8,068	22,369	16,030
Net income	27,499	23,781	56,712	46,583
Adjustments to net income attributable to common stockholders (Note 2)	0	7,344	0	14,500
Net income attributable to common stockholders	$ 27,499	$ 16,437	$ 56,712	$ 32,083
Net earnings per share attributable to common stockholders (Note 2):
Basic (in dollars per share)	$ 0.16	$ 0.18	$ 0.32	$ 0.35
Diluted (in dollars per share)	$ 0.15	$ 0.18	$ 0.31	$ 0.35
Weighted-average common shares outstanding:
Basic (in shares)	176,923	90,591	176,882	90,591
Diluted (in shares)	181,194	90,591	180,327	90,591

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 56,712	$ 46,583
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,232	8,285
Stock-based compensation	18,685	0
Deferred income taxes	6,919	0
Other	21	1,396
Changes in operating assets and liabilities:
Accounts receivable, net of allowance	(30,506)	(12,271)
Inventory	(24,138)	7,681
Prepaid expenses and other current assets	9,411	(3,919)
Other non-current assets	36	(1,068)
Operating leases, net	(271)	(6)
Accounts payable	24,520	8,275
Accrued expenses	13,280	(754)
Other liabilities	1,369	(3,757)
Net cash provided by operating activities	87,270	50,445
Cash flows from investing activities:
Purchases of property and equipment	(20,196)	(10,578)
Net cash used in investing activities	(20,196)	(10,578)
Cash flows from financing activities:
Payment of taxes withheld upon vesting of restricted stock	(8,075)	0
Proceeds from employee stock purchase plan	1,256	0
Repurchases of common stock	(3,712)	0
Net cash used in financing activities	(10,531)	0
Effect of exchange rates on cash and cash equivalents	238	(229)
Net change in cash and cash equivalents	56,781	39,638
Cash and cash equivalents at beginning of the period	289,049	175,615
Cash and cash equivalents at end of the period	345,830	215,253
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 3,268	$ 17,726

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 345,830	$ 289,049
Accounts receivable, net of allowance	207,720	177,214
Inventory	318,298	294,737
Prepaid expenses and other current assets	22,092	31,575
Total current assets	893,940	792,575
Property and equipment, net	53,740	41,087
Intangible assets, net	13,856	16,694
Goodwill	37,841	37,769
Operating lease right-of-use assets	48,910	28,164
Other non-current assets	24,311	31,350
Total assets	1,072,598	947,639
Current Liabilities:
Accounts payable	300,258	274,977
Accrued expenses	67,098	53,818
Operating lease liabilities, current	10,401	8,826
Other current liabilities	2,362	921
Total current liabilities	380,119	338,542
Operating lease liabilities, non-current	40,909	22,009
Other non-current liabilities	5,938	6,093
Total liabilities	426,966	366,644
Commitments and contingencies (Note 10)
Stockholders' equity:
Additional paid-in capital	559,802	551,648
Accumulated other comprehensive income	219	448
Retained earnings	85,434	28,722
Total stockholders' equity	645,632	580,995
Total liabilities and stockholders' equity	1,072,598	947,639
Series A Common Stock
Stockholders' equity:
Common stock	155	155
Series B Common Stock
Stockholders' equity:
Common stock	$ 22	$ 22