PTRN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• in other organizations because other organizations may not calculate Adjusted EBITDA in the same manner as we do, thus limiting its usefulness as a comparative measure.

• Comparison of the three months ended March 31, 2025 and 2026

• The increase in revenue was primarily driven by the growth of consumer product sales attributable to existing brand partners, as evidenced by our NRR of 127% for the period ended March 31, 2026. Revenue from Amazon marketplaces increased $194.6 million, or 38%, year-over-year and revenue not attribu…

• The increase in cost of goods sold was primarily driven by an increase in revenue of 43.2%. The increase in cost of goods sold was smaller than the increase in revenue on a percentage basis, primarily driven by product and brand mix.

• The increase in operations, general and administrative expenses was primarily driven by an increase of $35.6 million in fulfillment costs associated with the increase in consumer product sales and the recognition of $4.1 million of stock-based compensation expense. The remaining increase was primari…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Revenue Retention Rate (“NRR”) was 122% for the period ended September 30, 2025. See the section titled below “—Key Business Metric and Non-GAAP Financial Measure” for information on how we define and calculate NRR.

• not be considered in isolation or as an alternative to net income (loss) or any other measure of financial performance calculated and prescribed in accordance with GAAP. In addition, Adjusted EBITDA may not be comparable to similarly titled measures in other organizations because other organizations…

• Three Months Ended September 30,Nine Months Ended September 30,

• (2)Stock amendment expense represents a non-cash expense associated with the filing and effectiveness of our amended and restated certificate of incorporation in August 2025, which modified the terms of the Founder Voting and Non-Voting Preferred Stock (“the Founder Preferred Stock Amendment”) as de…

• In connection with the filing and effectiveness of our amended and restated certificate of incorporation in August 2025, the Company amended the conversion terms of its Founder Voting and Non-Voting Preferred Stock, as described under Note 7—Stockholders’ Equity in the “Notes to Condensed Consolidat…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• A significant majority of our sales are denominated in the prevailing currencies of the countries in which we operate. Additionally, our operating expenses are largely denominated in the currencies of the countries in which our operations are located or in which revenue is generated. Therefore, our …

• operations. To date, foreign currency transaction gains and losses have not been material to our financial statements, and we have not engaged in any foreign currency hedging transactions, but we may consider doing so in the future as our international operations grow. The effect of foreign currency…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• A significant majority of our sales are denominated in the prevailing currencies of the countries in which we operate. Additionally, our operating expenses are largely denominated in the currencies of the countries in which our operations are located or in which revenue is generated. Therefore, our …

Text added vs the prior filing · source: 10-Q · 2026-05-07

• Except as set forth below, there have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K. The following risk factor is new and should be considered in addition to those previously disclosed:

• We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term stockholder value. Stock repurchases could also increase the volatility of our stock and could diminish our liquidity.

• Our board of directors authorized a share repurchase program on March 2, 2026, allowing us to purchase up to $100 million in shares of our Series A common stock. The program does not obligate us to repurchase any specific dollar amount or to acquire any specific number of shares of our Series A comm…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Investing in our Series A common stock involves a high degree of risk. You should carefully consider the risks and uncertainties previously disclosed in the section titled “Risk Factors” of the Prospectus, before making a decision to invest in our Series A common stock. If any of these risks actuall…