a.k.a. Brands Holding Corp.

Greetings and welcome to the AKA Brands Holding Corporation Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to turn the conference over to your host today, Emily Swartz, Investor Relations. Thank you. You may begin.

Good afternoon. Thank you for joining AKA Brands to discuss our third quarter 2025 results released this afternoon, which can be found on our website at ir.aka-brands.com. With me on the call today is Chiron Long, Chief Executive Officer, and Kevin Grant, Chief Financial Officer. Before we get started, I'd like to remind you of the company's Safe Harbor language. Management may make forward-looking statements which refer to expectations, projections, and other characterizations of future events, including guidance and underlying assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed. For further discussion of risks related to our business, please see our filings with the SEC. Please note, we assume no obligation to update any such forward-looking statements. This call will also contain non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in the release, furnished to the SEC, and available on our website. With that, I'll turn the call over to Kiran.

Good afternoon, everyone, and thank you for joining us to discuss our third quarter results. We made meaningful progress on our strategic priorities this quarter. We opened Princess Polly's 11th store at the Westchester Mall, expanded our wholesale partnerships, and successfully refinanced our debt, further strengthening our financial position. Our Australia region continues to grow, and importantly, we continue to advance the optimization of our supply chain. I'm also pleased to report that we delivered 7 million of adjusted EBITDA for the quarter. As I mentioned on our second quarter call in August, we've been swiftly diversifying our supply chain structure to build long-term flexibility and resilience. As we accelerated scaling this transition through the back half of the third quarter, we experienced some transitory and temporary supplier delays that impacted in-stock levels and the overall level of fashion newness, critical components of our operating model. These short-term pains were the primary drivers of our softer than anticipated sales in the quarter. Since the end of the third quarter, our in-stock levels have gradually improved, which has allowed us to get back to growth, with fourth quarter growth to date net sales tracking positive low single digits. Importantly, we now feel confident in our inventory levels and our updated supply chain as we head into the holiday season. The transformation of our sourcing ecosystem allows us to maintain the high product quality standards that we and our customers expect, while also working with manufacturing partners across multiple regions that are fully equipped to support and enhance our test and repeat merchandising approach. We are confident that we now have the operations and available capacity with our new and existing suppliers in multiple geographies, allowing us to meet our production needs. We remain confident that the swift and comprehensive transformation of our sourcing structure has created a more robust and resilient supply chain, setting the stage for sustained growth ahead. For the third quarter, we delivered net sales of 147 million, representing a 2% decline year over year, but an increase of 4.4% on the two-year stack. As I mentioned, the sourcing transition created some temporary disruptions to our in-stock levels in the US, which impacted our ability to meet the strong customer demand we were seeing. Despite the temporary headwinds in the quarter, I'm pleased that we delivered 7 million of adjusted EBITDA. I remain very pleased with our year-to-date performance, reflecting the continued relevance of our brands and the strength of our business model. Year-to-date, net sales are up 5% Gross margin has expanded 100 basis points, adjusted EBITDA reached more than 17 million, and we generated 21 million more in cash flow compared to the same nine-month period last year. Looking at the fourth quarter and beyond, we remain committed to building our brands for the long term, delivering high-quality fashion to our customers and balancing both growth and profitability. We remain laser-focused on our strategic growth drivers for the remainder of the year. First, we will attract and retain customers on our direct-to-consumer channels through trend-driven exclusive merchandising and distinctive marketing strategies. Secondly, we will expand brand awareness through physical retail growth and select wholesale partnerships. And third, we remain committed to streamlining operations and strengthening our financial foundation to support long-term profitable growth. Turning now to our brand highlights. Starting with Princess Polly, our largest brand, which represents roughly half of the portfolio, Princess Polly is a leading digital-first fashion brand, known for trend-driven, accessible styles, and deeply connects with the next generation of consumers. The brand has built a loyal global following online and continues to expand its reach through own stores and select wholesale partnerships. In the third quarter, Princess Polly delivered meaningful progress as the team rapidly advanced the brand's supply chain transformation while continuing to execute on its key merchandising, marketing, and omnichannel initiatives. We continued to see strong demand for Princess Polly in both the U.S. and Australia. Despite the temporary inventory headwinds I discussed, traffic to Princess Polly's sites in the third quarter was up mid-single digits, driven by strong execution during the back-to-school and homecoming seasons. Customers responded well to new styles, including casual and elevated basics, with denim delivering double-digit growth in the quarter, led by oversized cargoes, barrel fits, and low-rise styles. Princess Polly also continued to strengthen its digital marketing engine with a strong focus on social commerce and TikTok. Through an expanded presence on TikTok Live and TikTok Shop, the brand generated more than 80 million impressions and over 1 million live views during the quarter. Looking ahead, Princess Polly is continuing to innovate on the platform, launching new campaigns with top creators, and preparing for a TikTok shop takeover that will secure premium placement during Thanksgiving. The brand also broadened its college presence through US Campus Roadshow, sorority shopping events, and an enhanced college ambassador program, supported by a new influencer and PR platform designed to deepen engagement with Gen Z consumers. In addition to its strength in the direct-to-consumer channel, Princess Polly continues to expand its total addressable market through new stores and wholesale partnerships. The brand opened its 11th store in the third quarter at the Westchester Mall and recently opened its 12th store at Roosevelt Field Mall on Long Island, New York. We're also excited to open Princess Polly's first store in Australia, located in Bondi Beach later this quarter. The store fleet continues to outperform expectations across revenue, profitability, and new customer acquisition. Looking ahead, we plan to open 8 to 10 additional Princess Polly stores in 2026. Princess Polly is also growing its wholesale presence at Nordstrom, supported by brand signage and dedicated in-store space further enhancing brand awareness. In the UK, Princess Polly's presence on ASUS.com also continues to perform strongly, setting the stage for the brand's own UK expansion in the coming years. Turning now to Petal & Pop. The brand continues to resonate with customers through its feminine, trend-driven aesthetic and strong digital presence. Its ability to translate emerging fashion trends into accessible, versatile styles is driving consistent engagement and growth across its direct-to-consumer and wholesale channels. Petal & Pop delivered solid performance in its direct-to-consumer channel, supported by continued demand for event and occasion dressing. The launch of its fourth modern romance collection exceeded last year's results, reflecting the brand's ability to capitalize on seasonal trends and connect with its customers through fresh styles and storytelling. Petal & Pop's focus on elevated fabrics, trending colors, and fit continues to differentiate the brand and reinforce its position among customers. brand also continued to strengthen and expand its wholesale and international presence in partnership with nordstrom pedal and pop executed a fall promotion that drove a more than triple digit percentage year-over-year increase in demand supported by strong sell-through of fall styles petal and pop also recently launched on nike fashion in india quickly becoming a top five brand on the platform the brand also entered retail platform, Nuuly, where it will be featured in the upcoming holiday editorial lookbook. In the fourth quarter, Petal & Pop will launch in 10 David Jones stores in Australia and onboard with Armoire's rental platform. Turning towards streetwear brands, Culture Kings and Minimal. The continued improvement in the streetwear business reflect the strategic actions taken over the past two years, including strengthening the leadership team, implementing a test and repeat merchandising model, and enhancing operational execution across both regions. I'm pleased that the business delivered solid progress in the third quarter with continued improvement in gross margin and profitability. Culture Kings continues to differentiate itself in the streetwear market through its portfolio of leading in-house brands, including Lloyder, Minimal, Carré, and St. Morta, which remain among our top sellers and continue to grow in net sales and gross profit dollars year over year. In addition to the strength of its in-house brands, Culture Kings continues to benefit from its unique position in the broader streetwear market, underpinned by an exclusive product portfolio and exciting collaborations with leading brands. In the fourth quarter, Culture Kings is launching an outwear-based collection with leading American heritage brand, Alpha Industries, and will also launch a co-branded exclusive collection with Von Dutch to be sold only at Culture Kings. Building on this product strength, Culture Kings continues to lead through its unique ability to fuse fashion, entertainment and culture. The brand's marketing strategy is anchored in creating hype through immersive events and high-impact collaborations that drive both engagement and conversion. Recent activations, including the Culture Kings and Timberland event and participation at ComplexCon, feature an exclusive loiterer ugeo collaboration drove strong customer engagement and meaningful sales results further reinforcing the brand's position as a leader in streetwear culture looking ahead upcoming launches and experience such as the formula one las vegas grand prix collaboration with mclaren and the one piece 73 studio collection will continue to build momentum and generate strong engagement across channels I'm confident that our streetwear business is still in the early stages of its global expansion with significant runway ahead. In addition to the strategic initiatives of each brand, I'm excited about the innovation and adoption of AI across the platform. Thanks to our portfolio model and flexible asset-light technology stack, we can test and deploy different AI solutions within each brand to identify the tools that deliver the most meaningful impact. For example, Princess Polly will launch an instant checkout on ChatGPT in the coming weeks, one of the first brands to do so in partnership with Shopify. Across the group, we've also recently implemented a number of tools across image editing, product descriptions, marketing campaign enhancements, and customer experience workflows that will drive efficiency, unlock creativity, and enable smarter, faster decision-making throughout the organization. What's most powerful is how we share insights and best practices across brands, allowing us to scale learnings quickly, maximize synergies, and accelerate our progress as a group. We're still in the early stages of using AI, but the results are incredibly promising. In summary, I'm really pleased with the team's hard work executing on all strategic fronts, expanding our retail footprint and wholesale partnerships, strengthening our balance sheet through our refinancing, and advancing our sourcing transformation. I am confident we are well positioned for the road ahead. With that, I'll turn it over to Kevin to dive deeper into the financials.