Q4 2025 Pattern Group Inc Earnings Call Transcript
Key Points
- Pattern Group Inc (PTRN) achieved record revenue growth of 39% in 2025, reaching $2.5 billion.
- The company reported a record net revenue retention (NRR) of 124%, up from 116% in 2024.
- International revenue increased by 63% for the full year, with a 69% year-over-year increase in Q4.
- Non-Amazon revenue grew 60% for the full year and surged 94% in the fourth quarter.
- SaaS services and logistics grew 58% for the full year and 162% in Q4, reflecting strong platform build-out and adoption.
- Pattern Group Inc (PTRN) faces difficult comparisons in the second half of 2026 due to record growth rates in 2025.
- The company expects a more normalized cadence of new product expansions in 2026, potentially impacting growth.
- Adjusted EBITDA margin is expected to see a slight decrease due to increased investment in R&D and fulfillment capabilities.
- The company is facing increased marketplace costs in Q4, particularly around storage and deliveries.
- There is uncertainty around the impact of AI-driven changes in e-commerce, which could affect traditional purchase paths.
Thank you for standing by. Welcome to Pattern's fourth-quarter and full-year 2025 earnings conference call. (Operator Instructions)
I would now like to hand the call over to Hamish Chung, VP of Finance. Please go ahead.
Thank you, operator. Good afternoon, and thank you for joining Pattern's earnings call for the fourth-quarter and full-year 2025, our first full year end call as a public company. Before we begin, I'd like to remind everyone that today's discussion may contain forward-looking statements based on our current expectations, assumptions, and forecasts about future events. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our latest filings with the Securities and Exchange Commission for more information on these risks and uncertainties.
We may also refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most directly
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