Showroomprivé releases its 2025 annual results and announces its q1 2026 revenue

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SHOWROOMPRIVÉ RELEASES ITS 2025 ANNUAL RESULTS AND

April 29, 2026

ANNOUNCES ITS Q1 2026 REVENUE

• 2025 consolidated results approved by the Board of Directors:

  • 2025 Gross Merchandise Volume (GMV1) reached €893 million, down -10.6%; 2025 revenue

    stood at €559 million (down -13.5% compared to 2024)

  • EBITDA2 is negative at -€27.7 million (-5% of revenue) due to the decline in business activity, despite a €14 million reduction in operating expenses
  • Net Income stands at -€31 million after incorporating non-recurring items
  • Net inventory was reduced to €52 million at the end of 2025, a decrease of -29% compared to the end of 2024
• Q1 2026 Revenue

  • Decline in Q1 2026 gross merchandise volume (GMV) of -5.8% and revenue of -5.8%

  • Strong growth in the Marketplace with a 45% increase in business volume, confirming its key role in the Group's development

  • Relative increase in average order value (+2.6%) and stabilization of the Travel division (+1%)

    La Plaine Saint Denis, France, April 2G, 2026, 5:45 p.m. CEST - Showroomprivé (SRP Group), a European group specializing in flash sales, has released its results for the fiscal year ended December 31, 2025, as well as its Q1 2026 revenue, as approved by the Board of Directors today. Note: The results for 2025 include The Bradery from January 1, 2025, through December 19, 2025, the date of the

    sale of the Company's stake.

    David Dayan, Chairman and CEO of Showroomprivé, stated: "The 2025 fiscal year was a challenging one for Showroomprivé. In a changing market, we made a determined choice to anticipate and adapt our model to remain in control of our destiny. We havethereforeembarked on aprofoundtransformation: refocusing on higher-valueofferings, ramping up our growth drivers, overhauling our salesorganization, and accelerating our efforts in data, technology, and AI. Our 2025 results reflect this transition phase.

    Facingarapidlychangingmarket, we areaccelerating Showroomprivé'stransformationtowardamoreprofitablemedia commerce model. 202c will be a year of execution with a simple priority: returning to healthy and sustainable growth, building on a mixed but encouraging first quarter, by creating a model that is more agile, more efficient, and better aligned with our customers' expectations."

    ‌1 Gross Merchandise Value (GMV) represents, inclusive of all taxes, the total invoiced transaction amount and therefore includes gross online sales-including sales on the Marketplace-other services, and other revenues.

    ‌2 EBITDA before goodwill impairment and revaluation of future acquisition debt; The Bradery contributes €6.4 million to 2025 EBITDA.

    2025 ANNUAL RESULTS ANNOUNCEMENT

    2025 Key Figures3

    (€ million)	2024	2025	Change (%)
    GMV	999.2	892.8	-10.65%
    Net revenue	646.5	559.0	-13.54%
    Total Internet revenue	636.8	547.3	-14.05%
    Of which International	142.2	118.2	-16.88%
    Gross Margin	238.0	195.3	-17.96%
    Gross margin as a % of revenue	36.8%	34.9%	- 1.89 pt
    Operating expenses	252.0	237.7	-5.65%
    As a % of revenue	39.0%	42.5%	+3.56 pts
    EBITDA	2.3	-27.7	na
    Recurring operating income	-13.9	-42.5	na
    Other operating income and expenses	-109.1	15.3	na
    Operating income	-123.0	-27.2	na
    Cost of debt	-2.1	-1.8	na
    Pre-tax income	-124.2	-28.7	na
    Income taxes	-9.1	-2.2	na
    Net income	-133.3	-30.9	na

    As the Group's majority stake in The Bradery was sold to its founders on December 19, 2025, The Bradery's 2025

    income statement was consolidated by the Group only for the period from January 1, 2025, to December 19, 2025.

• In 2025, Showroomprivé's gross merchandise volume (GMV) stood at €8G2.8 million, down

  -10.65% compared to fiscal year 2024, in an e-commerce market marked by increased competition due to the growth of ultra-fast fashion platforms in France. Revenue for 2025 came in at €55G.0 million, down --13.5%, as the positive momentum of growth drivers was not sufficient to offset the decline in traffic.

• As in previous quarters, performance varied across the core event-driven business - which suffered from a deteriorating environment and a challenging market in the Fashion / Home / Beauty (-17%), and the growth drivers - such as the Marketplace and Media-which outperformed and continue to grow, now accounting for over 23% of the Group's total revenue.

• In this context, Showroomprivé initiated a strategic review of its operations in April 2025 to adapt its business model to evolving customer expectations and the new competitive landscape. The Group subsequently decided to implement several transformation initiatives:

  • An operationalreorganization project wasannounced in November 2025, centered on five key priorities identified as part of the Group's new strategy:

    • strengthening relationships with partner brands,

    • building a global Showroomprivé platform,

    • regain customer appeal,

      ‌3 The Board of Directors of SRP Group met and approved the consolidated financial statements for the 2025 fiscal year. The audit procedures for the consolidated financial statements have been completed. The audit report will be issued after the completion of the specific verifications required by legal and regulatory provisions.

    • embark on a technological transformation,

    • defining a leaner and more agile model to restore profitability.

      In total, this reorganization plan could result in up to 121 job cuts for economic reasons during the second quarter of 2026, including 80 in La Plaine Saint-Denis, 23 in Roubaix, and 18 in Les Sables-d'Olonne.

  • The Group's decision to sell its majority stake in The Bradery to its two founders - finalized in December 2025 for €22 million - enabled the Group to receive a €1 million dividend in 2025 and an initial payment of €19 million at the end of 2025; In addition, €3 million is to be received in three equal installments at the end of 2027, 2028, and 2029;

  • The renegotiation of its €40 million bank debt, the repayment of which wasextended by two yearsunder a conciliation agreement signed on January 8, 2026: €10 million at the end of 2027, and €30 million at the end of 2028.

• At the same time, the Group continued its cost-control measures, with strict management of its marketing budget and overhead costs; EBITDA stood at -€27.7 million in 2025. After depreciation, amortization, and provisions, operating income before non-recurring expenses stood at -€42.5 million.
• Other operating income and expenses now total +€15.3 million, driven by:

  • income of +€32.0 million from the sale of SYMMETRIC (The Bradery) on December 19, 2025;

  • an expense of -€4.2 million related to the historical amortization of costs associated with

    Showroomprivé's acquisition of the 47% stake held by the founders of Symmetric (The Bradery);

  • costs related to strategic restructuring, the rescheduling of our bank debt, and projected expenses for the voluntary redundancy plan (external consulting, support costs): -€13.0 million.

• The cost of financial debt remained broadly stable at -€1.8 million. The Group recorded a tax expense of -

  €2.2 million.

• After taking these items into account, the Group's net income amounts to -€30.9 million.

• Cash flow from operating activities amounted to -€0.7 million in 2025 compared to +€14.2 million in 2024, with the impact of lower earnings offset by the positive impact of changes in working capital requirements (primarily due to a decrease in inventory). Taking into account capital expenditures (-€8.8 million in new fixed assets and -€10 million deposited in an escrow account for the performance of a guarantee agreement) and the increase in financial debt (€20 million drawn from the short-term RCF facility during Q1 2025), the change in cash and cash equivalents amounted to -€2.6 million for the fiscal year, bringing available cash to €43.5 million.

  REPORT ON REVENUE FOR THE FIRST QUARTER OF 2026

  Revenue Breakdown

  (€ million) Q1 2025 Ǫ1 2025 Q1 2026

  Change 26/25 as a %

  Including

  The Bradery

  Excluding

  The Bradery (Pro forma)

  Excluding

  The Bradery

  Excluding The

  Bradery

  Gross Merchandise Value (GMV)	211.G	130.2	17G.2	-5.80%
  Internet Revenue, France	99.2	83.4	75.7	-9.29%
  International Internet Revenue	26.3	2c.3	28.0	+6.41%
  Total Internet Revenue	125.5	103.8	103.7	-5.52%
  Other income	2.0	2.0	1.6	-20.40%
  Net revenue	127.5	111.7	105.3	-5.78%

  Showroomprivé generated a gross merchandise value (GMV) of €179.2 million in the first three months of its 2026 fiscal year, down -5.8% compared to the same period in 2025. Revenue was also down -5.8% compared to 2025.

  Among flash sale platforms, Showroomprivé consolidated its market share at 14.5% in the first quarter4 . The flash sale market remains under increasing pressure due to the arrival of new players and changing consumer habits as shoppers seek to preserve their purchasing power. International low-price platforms are strengthening their position and intensifying competition. At the same time, the second-hand market continues to grow and capture market share, further transforming purchasing behavior, particularly in fashion.

  Across its core businesses, the Group saw an overall decline in GMV during the first quarter:

• The Fashion division, with a -2% decline in GMV, is showing a marked improvement compared to the 2025 trend (-18%), driven by strong performance in Footwear (+52%) and a rebound in Women's Ready-to-Wear (+12%) but continues to decline in certain sectors such as Jewelry (-42%) and Sports (-9%), as well as in Italy (-13%). In response to this situation, the Group is continuing its efforts by relying on strengthened and renewed sales teams.

• The Home division has been hit hard, with a -22% decline; home appliances and furniture have suffered the steepest drops, penalized by the rise of refurbished goods, the decline in new housing, and low-cost platforms.

• With a -36% decline over the period, the Beauty division recorded the sharpest drop in activity.

SRP Services The Media division (SRP Services) is down -14%, following a year of strong growth in 2025 (+18%) despite continued active marketing of available media space.

Beauté Privée: the migration to Shopify in July 2025 created operational challenges (difficulties reconnecting former customers, management KPIs still under development); initiatives launched in the IT and Commerce divisions are taking longer than expected and should yield results in 2026.

Across its growth drivers, the Group posted mixed results.

‌4 Source: Fox Intelligence Retail (excluding The Bradery)

The Marketplace (GMV +45.2% compared to 2025) has continued to grow; since the 2024 launches in Belgium, Portugal, and Spain, these countries continue to contribute to growth in 2026.

The Travel s Leisure division has stabilized at +1%, ending the downward trend of 2025 (-16%), with a limited impact from the Iranian conflict, as our offerings are focused exclusively on European medium-haul routes.

Key Performance Indicators

* Members who placed their first order during the period

** Members who placed at least one order during the period

*** Members who placed at least one order during the period and at least one order in previous years

The Group attracted 163,000 new first-time buyers in the first quarter of 2026. The repeat buyer rate declined to 81%. The number of orders fell by -8.5%, a decline partially offset by a +2.9% increase in average order value.

SHAREHOLDER RELATIONS

With a view to fostering closer ties with its individual shareholders, Showroomprivé announces the launch of a Shareholder Advisory Committee. The Committee's objective will be to contribute to constructive shareholder dialogue between the Group's Executive Management and its individual shareholders and to encourage regular, in-depth, and high-quality exchanges. The Committee's operating procedures will be specified shortly.

In addition, a webinar presenting the 2025 annual results will be held on Wednesday, May 6, 2026, at 6:00

p.m. Click-here to sign up (webinar in French only).

UPCOMING UPDATES

Publication of 2026 first half revenue: July 23, 2026

Publication of 2026 half-year results: September 24, 2026

FORWARD-LOOKING STATEMENTS

This press release contains only summary information and is not intended to be comprehensive.

This press release may contain forward-looking information and statements regarding the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives, and expectations regarding future operations, future products and services, and statements regarding future performance. Forward-looking statements can be identified by the words "believe," "anticipate," "target," or similar expressions. Although the Group believes that the expectations reflected in such forward-looking statements are reasonable, investors and shareholders of the Group are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the Group's control, which could result in actual results and events differing significantly and adversely from those communicated, implied, or indicated by such forward-looking information and statements. These risks and uncertainties include those described or identified in the documents filed or to be filed with the Autorité des marchés financiers by the Group (in particular those detailed in Chapter 3 of the Company's reference document). The Group undertakes no obligation to publish updates to forward-looking information, whether as a result of new information, future events, or any other factor.

ABOUT SHOWROOMPRIVÉ

Showroomprivé is a leading European player in online flash sales, known for its innovation and specialization in fashion. Showroomprivé offers a daily selection of over 3,000 partner brands via its mobile apps and website in France and six other countries. Since its founding in 2006, the company has experienced rapid growth.

Listed on the Euronext Paris market (ticker: SRP), Showroomprivé generated a gross merchandise volume (GMV) of nearly €900 million in 2025, and net revenue of €560 million. The Group is led by David Dayan, its founder, and employs over 1,100 people.

For more information: http://showroomprivegroup.com

CONTACTS

Benoît Jacheet, Group CFO investor.relations@showroomprive.net

Anthony Alfont Relations.presse@showroomprive.net

Thomas Grojean

Gaelle Fromaigeat, Nicolas Merigeau showroomprive@newcap.eu

INCOME STATEMENT

* The Bradery's contribution to 2025 Group EBITDA amounts to €6,443,000

PERFORMANCE INDICATORS

Change

BALANCE SHEET

(thousands of €) 12/31/2024 12/31/2025 NON-CURRENT ASSETS

CASH FLOWS

EBITDA RECONCILIATION

* The Bradery's contribution to 2025 Group EBITDA amounts to €6,443,000

RECONCILIATION OF GMV