Naked Wines has reported mixed full-year results for the 52 weeks ended on 30 March 2026, with revenue decreasing by 20 per cent year-on-year to £199.1m.

The brand’s adjusted EBITDA went up by 35 per cent to £7.6m compared to the year prior, which is in line with the company’s medium-term target of between £9m and £14m.

Naked Wines’ statutory loss before tax increased to £6.3m, compared with a loss of £4.9m in the year before, which was due to restructuring costs and write-off of software costs according to the business.

The company’s net cash excluding lease liabilities went up by £3.3m to £33.4m compared to the year prior.

Rodrigo Maza, CEO, said: “In FY26 we recommitted to what makes Naked different, and the results have followed.

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“We grew adjusted EBITDA to £7.6m, strengthened the balance sheet to £33.4m of net cash, and returned over £6m to shareholders by repurchasing more than 10 per cent of the company to increase the intrinsic value per share for shareholders.

“We also brought a new discipline to every cost, introduced a strict IRR hurdle and acquired fewer, higher-value customers. As we continue to execute our strategy through FY27, member numbers and revenue will not yet have stabilised, but profitability, cash generation and the quality of our member base will continue to strengthen, laying the foundations for future stability and growth.”

Moving forward, the business will continue the execution of its new strategic plan, which was announced in March 2025.

Naked Wines expects full-year revenue of between £158m and £175m and an adjusted EBITDA of £7.6m to £9.0m.