Reported results
- GAAP revenues decreased 4% to $216.8 million from $225.6 million in the prior year period
- GAAP operating loss was $92.2 million, flat compared to $92.2 million in the prior year period
- GAAP diluted earnings per share loss was $3.77 compared to $2.83 loss in the prior year period
- Non-GAAP adjusted operating loss increased $6.8 million to $88.7 million from $81.9 million
- Non-GAAP Adjusted EBITDA was a loss of $63.6 million compared to a loss of $55.7 million in the prior year period
- Non-GAAP Free Cash Flow use was $110.8 million compared to $100.2 million in the prior year period
Guidance
- Fiscal 2027 revenue growth of approximately 2% to 4%
- Fiscal 2027 non-GAAP Adjusted EBITDA of approximately $135 million to $145 million
- Fiscal 2027 non-GAAP Free Cash Flow of approximately $35 million to $40 million
Notes
The Company completed sale-leaseback transactions in December 2025. Pro forma adjusted operating income and pro forma Adjusted EBITDA reflect the full-year impact of these transactions as if they had occurred on June 1, 2025. One-time charges of $3.5 million and $10.3 million were included in fiscal 2027 Q1 and fiscal 2026 Q1 operating results, respectively.
Price and volatility reaction
The stock moved -7.4% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -19.5 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 34.93 | 2026-09-24 |
| Close after release | 32.35 | 2026-09-25 |
| Realised move | -7.4% | close to close |
| 30d ATM IV change | -19.5 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-24 (8-K, Item 2.02). Read the original filing on sec.gov.
