CURV Torrid Holdings Inc.

Overview and Growth

Torrid Holdings Inc. generated $1.00B of revenue in fiscal 2025, with net loss of $7.03M and an operating cash outflow of $13.01M. Revenue of $1.00B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $1.10B in fiscal 2024, revenue decreased 9.4%, a top-line contraction that reduced operating scale. Diluted earnings per share were -$0.07, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 146.7% decrease from fiscal 2024 diluted EPS of $0.15. Total assets stood at $400.34M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 2.5x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $347.96M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 34.8% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $21.40M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 2.1% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all below-operating-line items, the company recorded a net loss of $7.03M for the fiscal year. Measured against revenue, the bottom-line deficit represented 0.7% after all recognized items. The pretax result was a loss of $9.56M, establishing the deficit before tax effects. Pretax margin was -1.0%, reflecting a pre-tax loss equal to 1.0% of revenue. An income-tax benefit of $2.53M improved the final result relative to pretax income or loss. Relative to total assets, the net loss represented 1.8%. The company moved from fiscal 2024 net income of $16.32M to a current net loss of $7.03M.

Liquidity and Capital Structure

Total assets were $400.34M, supported by $613.75M of liabilities and -$213.41M of shareholder equity. Equity was negative at -$213.41M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. At period end, current assets of $193.48M compared with current liabilities of $248.94M, defining the company’s short-term resource position. At 0.78x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $20.02M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 8.0% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $272.41M, establishing the amount of borrowing carried within the company’s capital structure. Debt represented 68.0% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 153.3%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 5.0% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 18.0% lower than fiscal 2024 assets of $488.44M, measuring the company’s own balance-sheet change. Cash and equivalents were 58.7% lower than fiscal 2024 cash of $48.52M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $13.01M, showing that operations absorbed cash during the period. Capital expenditures used $8.85M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $21.86M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 2.2%. The cash deficit after capital spending represented 5.5% of the period-end asset base.

Based on the annual report for the fiscal year ending Jan 31, 2026. Analysis generated Oct 21, 2026.