Reformation IPO: revenue, losses and offering terms from its S-1
Reformation priced its IPO at $15 a share on 30 Jul 2026 and raised $211 million. Its shares trade on NYSE as REF. Revenue was $507 million in 2025, with a net profit of $12.6 million.
Headlines
- Revenue, 2025
- $507M
- Net income, 2025
- $13M
- Revenue, thirteen weeks ended March 28, 2026
- $112M
- Up 30% on a year earlier
- IPO price
- $15
- $211M raised
Reformation IPO terms
From the final prospectus (424B4).
- Exchange
- New York Stock Exchange
- Ticker
- REF
- IPO price
- $15
- Shares offered
- 14,062,500
- Raised
- $211M
- Registered
- $275M, the amount the filing fee is paid on
- Underwriters
- J.P. Morgan, Morgan Stanley and Citigroup, with 6 more banks
- First filed
- 25 Jun 2026
Reformation revenue and profit
| Period | Revenue | Operating income | Net income |
|---|---|---|---|
| 2025 | $507M | - | $13M |
| thirteen weeks ended March 28, 2026 | $112M | - | -$12M |
Reformation share structure and company facts
- Employees
- 1,261
- Headquarters
- Los Angeles, California
Reformation shares since the IPO
Latest close 26 Oct 2026
- IPO price
- $15
- Priced 30 Jul 2026
- First close
- $15.08
- +1% on the IPO price
- Latest close
- $15.85
- +6% on the IPO price
Reformation's IPO filings
The registration statement, each amendment and the final prospectus, oldest first.
About the data
- Terms and financials are read from Reformation's newest prospectus (424B4 filed 30 Jul 2026) by a Kadoa workflow. Check figures that matter against the filing.
- Registered is the amount the filing fee is paid on, often a placeholder before the price range is set.
- Raised is the IPO price times the shares sold, without the underwriters' option. Trading compares the first and latest close with the IPO price.