P
Perfect Moment Ltd.
PMNTCIK 0001849221NYSEEmerging GrowthApparel & Other Finishd Prods Of Fabrics & Similar MatlDelawareFY ends Mar 31
Period
FY 2025
Revenue
$21.50M
Net Income
$-15.94M
Total Assets
$13.34M
Equity
$1.86M
Shares Out
46.87M
Op. Cash Flow
$-9.86M
Business
Perfect Moment Ltd. is a high-performance luxury skiwear and lifestyle brand that fuses technical performance with fashion-led design. The company offers ski and outerwear, swimwear, activewear, surfwear, lifestyle apparel, and accessories with a focus on technical fabrics and bold aesthetics. Key business segments include a digitally native direct-to-consumer ecommerce operation, selective wholesale partnerships and luxury marketplace distribution, plus short-term physical retail activations and planned owned retail. Its products are sold globally across North America, the United Kingdom, continental Europe and select emerging markets, including initial distribution in China.
Summary from filing dated 2025-06-30
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 |
|---|---|---|---|---|
| Revenue, net | 22 | 24 | — | |
| Cost of sales | 11 | 12 | — | |
| Gross profit | 10 | 12 | 9 | |
| Selling, general and administrative expenses | 21 | 15 | 12 | |
| Marketing and advertising expenses | 4 | 5 | 5 | |
| Total operating expenses | 24 | 20 | 17 | |
| Loss from operations | −14 | −8 | −9 | |
| Interest expense | −2 | −1 | — | |
| Foreign currency transactions (loss) gain | −107,000 | 264,000 | 39,000 | |
| Other income | 10,000 | — | −2 | |
| Total other expense, net | −2 | −1 | — | |
| Net Loss | −16 | −9 | −10 | |
| Foreign currency translation gain (loss) | 62,000 | −288,000 | 303,000 | |
| Comprehensive loss | −16 | −9 | −10 | |
| Basic loss per share | −0.99 | −1.34 | −2.16 | |
| Diluted loss per share | −0.99 | −1.34 | −2.16 | |
| Basic weighted-average number of shares outstanding | 16 | 7 | 5 | |
| Diluted weighted-average number of shares outstanding | 16 | 7 | 5 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 6 | 8 | 5 | — | |
| Restricted cash | 1 | — | — | — | |
| Accounts receivable, net | 886,000 | 1 | 997,000 | — | |
| Inventories, net | 2 | 2 | 2 | — | |
| Prepaid and other current assets | 3 | 742,000 | 708,000 | — | |
| Total current assets | 13 | 12 | 9 | — | |
| Operating lease right-of-use assets | 44,000 | 143,000 | 297,000 | — | |
| Property and equipment, net | 483,000 | 502,000 | 833,000 | — | |
| Other non-current assets | 36,000 | 47,000 | 12,000 | — | |
| Total assets | 13 | 13 | 10 | — | |
| Trade payables | 3 | 2 | 1 | — | |
| Accrued expenses | 4 | 3 | 1 | — | |
| Trade finance facility | 2 | — | 26,000 | — | |
| Short-term borrowings, net | 2 | — | — | — | |
| Operating lease liabilities, current | 44,000 | 101,000 | 299,000 | — | |
| Unearned revenue | 264,000 | 420,000 | 180,000 | — | |
| Total current liabilities | 11 | 5 | 14 | — | |
| Operating lease liabilities, non-current | — | 44,000 | 8,000 | — | |
| Total liabilities | 11 | 5 | 14 | — | |
| Commitments and contingencies (see Note 14) | — | — | — | — | |
| Series AA convertible preferred stock, $0.0001 par value, 1,800,000 shares authorized; 924,921 shares and nil shares issued and outstanding as of March 31, 2025 and 2024, respectively | — | — | 1,000 | — | |
| Common stock, $0.0001 par value, 100,000,000 shares authorized: 19,291,000 and 15,653,449 shares issued and outstanding as of March 31, 2025 and 2024, respectively | 2,000 | 1,000 | — | — | |
| Additional paid-in-capital | 67 | 57 | 36 | — | |
| Accumulated other comprehensive loss | −23,000 | −85,000 | 203,000 | — | |
| Accumulated deficit | −65 | −49 | −40 | — | |
| Total stockholders equity | 2 | 8 | −4 | −3 | |
| Total liabilities and stockholders equity | 13 | 13 | 10 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 |
|---|---|---|---|---|
| Depreciation and amortization | 342,000 | 555,000 | 547,000 | |
| Bad debt expense | −21,000 | 217,000 | 80,000 | |
| Inventory reserve | 2 | 382,000 | 374,000 | |
| Realized foreign exchange (gain) loss | 107,000 | −128,000 | — | |
| Stock based compensation | 1 | 739,000 | 4 | |
| Amortization of stock-based marketing services shares issued for services | 910,000 | 185,000 | — | |
| Amortization of debt finance costs | 2 | 492,000 | 941,000 | |
| Other | −10,000 | — | — | |
| Accounts receivable, net | 160,000 | −238,000 | −519,000 | |
| Inventories, net | −937,000 | −349,000 | −812,000 | |
| Prepaid and other current assets | −1 | −219,000 | 321,000 | |
| Operating lease right-of-use assets | 99,000 | 268,000 | 184,000 | |
| Other non-current assets | 3,000 | −37,000 | — | |
| Operating lease right-of-use liability | −100,000 | −162,000 | −174,000 | |
| Trade payables | 903,000 | 295,000 | −759,000 | |
| Accrued expenses | 2 | 2 | 514,000 | |
| Unearned revenue | −155,000 | 240,000 | −515,000 | |
| Net cash used in operating activities | −10 | −4 | −4 | |
| Purchases of property and equipment | −302,000 | −211,000 | −249,000 | |
| Net cash used by investing activities | −302,000 | −211,000 | −249,000 | |
| Proceeds from initial public offering | — | 6 | — | |
| Proceeds from sale of common stock | — | 2 | — | |
| Proceeds from issuance of preference shares and warrants, net | 5 | — | 5 | |
| Proceeds from convertible debt obligations | 2 | — | 3 | |
| Proceeds from trade finance facility | 3 | 2 | — | |
| Repayment of trade finance facility | −351,000 | −2 | — | |
| Proceeds from short-term borrowings, net | 6 | — | — | |
| Repayment of short-term borrowings | −6 | — | — | |
| Net cash provided by financing activities | 10 | 8 | 7 | |
| Effect of Exchange Rate Changes on Cash | 70,000 | −300,000 | −34,000 | |
| Net change in cash | −401,000 | 3 | 3 | |
| Interest paid on borrowings and bank loans | 154,000 | 107,000 | 139,000 | |
| Conversion of convertible debt to common stock | 2 | 12 | — | |
| Fair value of shares issued in exchange for services to be received | 1 | — | — | |
| Recognition of debt discounts on short-term borrowings | 3 | — | — | |
| Offset of deferred offering costs to proceeds received | — | 1 | — | |
| Recognition of operating lease right of use assets and lease obligations | — | 198,000 | 404,000 | |
| Write-off of expired operating lease right-of-use assets and lease obligations | — | 53,000 | — |
Filings
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