Vera Bradley (NASDAQ:VRA) today announced its financial results for the third quarter of fiscal year 2026, ended November 1, 2025, reporting a decline in revenues and a widened net loss impacted by significant non-recurring charges.
Consolidated net revenues for the quarter were $62.3 million, down from $70.5 million in the year-ago period.
The company reported a GAAP net loss from continuing operations of $12.4 million, translating to a loss of $0.44 per diluted share.
The GAAP results were significantly affected by two major write-offs totaling approximately $9.9 million, which reduced the third quarter EPS by about $0.35.
These items included a $5.9 million inventory write-down and a $4 million media credit write-off.
Excluding these charges, the non-GAAP net loss from continuing operations was $8.3 million, or a loss of $0.30 per share.
Vera Bradley's balance sheet showed that cash reserves stood at $10.7 million at the end of the quarter, compared to $56.4 million a year earlier.
The company also reported $10 million drawn on its $75 million Asset-Based Lending (ABL) facility.