CURV

MKT CAP:$186M

Torrid Holdings Inc.

Market Cap

$186M

Consumer Cyclical·Apparel - Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Apparel - Retail·🇺🇸·NYSE

Stock Price

$1.87+$0.81 (+76.42%)

Apr 24, 2026

Company Details

Torrid Holdings Inc. operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops...

CEO

Lisa Harper

IPO Date

Jul 1, 2021

Website

www.torrid.com

Key Metrics TTM

Revenue

$1.0B

-9.4% YoY

Net Income

-$7M

EPS (Diluted)

-$0.08

Free Cash Flow

-$22M

Revenue / Share

$10.08

Gross Margin

34.8%

Operating Margin

2.1%

Net Margin

-0.7%

FCF Margin

-2.2%

P/S

0.2x

P/E

—

Earnings Reports

FY 2025

Mar 31, 2026

$1.0B-9.4%EPS -$0.07

Q4 2025

Mar 31, 2026

$236M-14.3%EPS -$0.08

Q3 2025

Dec 10, 2025

$235M-10.8%EPS -$0.06

Q2 2025

Sep 11, 2025

$263M-7.7%EPS $0.02

Q1 2025

Jun 9, 2025

$266M-4.9%EPS $0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$328M	$125M	$40M
Q2 22	$341M	$118M	$39M
Q3 22	$300M	$102M	$20M
Q4 22	$329M	$124M	$3M
Q1 23	$294M	$111M	$26M
Q2 23	$289M	$103M	$20M
Q3 23	$275M	$92M	$7M
Q4 23	$294M	$101M	$4M
Q1 24	$280M	$114M	$26M
Q2 24	$285M	$110M	$20M
Q3 24	$264M	$95M	$7M
Q4 24	$276M	$93M	$3M
Q1 25	$266M	$101M	$16M
Q2 25	$263M	$93M	$10M
Q3 25	$235M	$82M	$205.0K
Q4 25	$236M	$71M	-$5M

Valuation

Quarter	P/S	P/E
Q1 22	0.5x	—
Q2 22	0.3x	—
Q3 22	0.4x	16.3x
Q4 22	0.3x	7.5x
Q1 23	0.3x	10.0x
Q2 23	0.2x	12.9x
Q3 23	0.2x	20.5x
Q4 23	0.5x	47.6x
Q1 24	0.5x	45.0x
Q2 24	0.7x	57.5x
Q3 24	0.3x	24.5x
Q4 24	0.6x	42.3x
Q1 25	0.5x	59.0x
Q2 25	0.3x	80.8x
Q3 25	0.1x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$9M	$2M
Q2 22	$35M	$30M
Q3 22	$10M	$4M
Q4 22	-$598.0K	-$7M
Q1 23	$11M	$6M
Q2 23	$20M	$17M
Q3 23	$2M	-$4M
Q4 23	$9M	-$2M
Q1 24	$28M	$21M
Q2 24	$41M	$38M
Q3 24	-$3M	-$6M
Q4 24	$12M	$10M
Q1 25	-$18M	-$21M
Q2 25	$16M	$15M
Q3 25	-$5M	-$7M
Q4 25	-$6M	-$9M

Capital Expenditures

Quarter	CapEx
Q1 22	$7M
Q2 22	$5M
Q3 22	$6M
Q4 22	$6M
Q1 23	$6M
Q2 23	$4M
Q3 23	$6M
Q4 23	$11M
Q1 24	$7M
Q2 24	$3M
Q3 24	$2M
Q4 24	$2M
Q1 25	$3M
Q2 25	$1M
Q3 25	$2M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+0.8%	-3.9%
Q2 22	+2.4%	-19.2%
Q3 22	-2.0%	+6.8%
Q4 22	+4.7%	+9.6%
Q1 23	-10.5%	-7.2%
Q2 23	-15.2%	-10.8%
Q3 23	-8.3%	-4.2%
Q4 23	-10.7%	-11.3%
Q1 24	-4.8%	-5.3%
Q2 24	-1.6%	-1.8%
Q3 24	-4.2%	-4.5%
Q4 24	-6.1%	-6.0%
Q1 25	-4.9%	-1.5%
Q2 25	-7.7%	-4.4%
Q3 25	-10.8%	-8.4%
Q4 25	-14.3%	-11.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	0.8%
Q2 22	$2M	0.6%
Q3 22	$3M	1.0%
Q4 22	$2M	0.7%
Q1 23	$2M	0.8%
Q2 23	$2M	0.7%
Q3 23	$2M	0.6%
Q4 23	$2M	0.7%
Q1 24	$2M	0.6%
Q2 24	$2M	0.8%
Q3 24	$685.0K	0.3%
Q4 24	$3M	1.1%
Q1 25	$1M	0.6%
Q2 25	$1M	0.5%
Q3 25	$1M	0.5%
Q4 25	$1M	0.5%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$67M	$18M
Q2 22	$66M	$14M
Q3 22	$69M	$13M
Q4 22	$105M	$16M
Q1 23	$71M	$13M
Q2 23	$70M	$13M
Q3 23	$72M	$13M
Q4 23	$81M	$17M
Q1 24	$76M	$13M
Q2 24	$77M	$13M
Q3 24	$75M	$13M
Q4 24	$74M	$15M
Q1 25	$70M	$15M
Q2 25	$71M	$13M
Q3 25	$66M	$16M
Q4 25	—	$13M

Revenue Segments

Quarter	Apparel	Non-apparel	Other Products And Services	Other
Q3 23	$235M	$32M	$9M	—
Q1 24	$253M	$20M	$7M	—
Q2 24	$260M	$18M	$7M	—
Q3 24	$231M	$25M	$8M	—
Q2 25	$241M	$13M	—	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$25M	$0	$25M
Q2 22	$23M	$0	$23M
Q3 22	$19M	$0	$19M
Q4 22	$14M	$0	$14M
Q1 23	$18M	$0	$18M
Q2 23	$19M	$0	$19M
Q3 23	$16M	$0	$16M
Q4 23	$12M	$0	$12M
Q1 24	$21M	$0	$21M
Q2 24	$54M	$0	$54M
Q3 24	$44M	$0	$44M
Q4 24	$49M	$0	$49M
Q1 25	$24M	$0	$24M
Q2 25	$22M	$0	$22M
Q3 25	$17M	$0	$17M
Q4 25	$20M	$0	$20M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	106M	-2.9%	-3.4%
Q2 22	104M	-2.2%	-5.5%
Q3 22	104M	-0.1%	-5.7%
Q4 22	104M	-0.1%	-5.3%
Q1 23	104M	+0.3%	-2.1%
Q2 23	104M	+0.1%	+0.2%
Q3 23	104M	-0.1%	+0.3%
Q4 23	104M	+0.1%	+0.4%
Q1 24	105M	+1.1%	+1.2%
Q2 24	106M	+0.8%	+1.8%
Q3 24	105M	-1.3%	+0.6%
Q4 24	104M	-0.5%	0.0%
Q1 25	106M	+1.8%	+0.8%
Q2 25	103M	-3.1%	-3.1%
Q3 25	99M	-3.5%	-5.3%
Q4 25	99M	+0.1%	-4.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$159.2K	2K
Q2 22	$165.2K	2K
Q3 22	$145.5K	2K
Q4 22	$159.5K	2K
Q1 23	$142.6K	2K
Q2 23	$140.3K	2K
Q3 23	$133.6K	2K
Q4 23	$142.4K	2K
Q1 24	$153.7K	2K
Q2 24	$156.4K	2K
Q3 24	$144.9K	2K
Q4 24	$151.4K	2K
Q1 25	$146.9K	2K
Q2 25	$145.2K	2K
Q3 25	$129.9K	2K
Q4 25	$154.4K	2K

Revenue / Employee