Naked Wines has reported an improved performance in the half-year results for the 26 weeks ended on 29 September 2025, with adjusted EBITDA increasing by 112% year-over-year to £3.6m.

However, revenue decreased to £89.5m from £112.3m in the year prior, which was in line with the FY26 guidance, driven by cautious consumer spending in the economy.

The online wine retailer narrowed its pre-tax losses to £3m, compared to a £5.6m loss in the year prior. The pre-tax loss was driven by a £12m medium-term inventory liquidation and its associated costs.

Naked Wine’s net cash went up by £8.2m to £31.1m, compared to £22.9m in the same period last year.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

Rodrigo Maza, CEO of Naked Wines said: “I’m pleased to present first-half results that show tangible progress against the goals we set in March, and [adjusted] EBITDA profitability up 112% on the prior year. We’re delivering in line with guidance, and I remain confident that our strategic plan will create meaningful value for shareholders.

“Combined with our strong performance on cash and improved profitability, this provides robust foundations as we build towards a return to disciplined revenue growth in the medium term.”

The business continues to maintain its full-year outlook and is working towards returning to organic revenue growth in the medium-term results.

Additionally, Naked Wines recently restructured its leadership team to strengthen its operations, appointing a new non-executive director and a new chair.