PTRNNasdaqRetail-Catalog & Mail-Order HousesUS GAAP · USD

Pattern Group Inc.

Pattern Group Inc. is a U.S.-based ecommerce acceleration company that helps consumer brands sell through global online marketplaces. It combines proprietary software, data analytics, and operational support to manage marketplace listings, advertising, pricing, fulfillment, and customer service across multiple countries.

Revenue2,501m USD
+39.3 %y/y
Operating profit (EBIT)25.4m USD
−70.9 %y/y
EBIT margin1.0%
−3.8 ppy/y
Net income16.2m USD
−76.1 %y/y
Free cash flow78.9m USD
+58.2 %y/y

Fiscal year 2025 · change from previous year

Development 2023–2025

01,0002,0003,000m USD2023: 1,366 m USD2023: EBIT 53 m USD20232024: 1,796 m USD2024: EBIT 87 m USD20242025: 2,501 m USD2025: EBIT 25 m USD20252,50125
RevenueOperating profit (EBIT)

Business

Share of revenue
Consumer product sales85 %

Pattern buys inventory from brand partners and resells products on ecommerce marketplaces.

Marketplace advertising and optimization services7 %

Tools and expert support for advertising, SEO, content, pricing, and conversion.

Fulfillment and logistics support4 %

Warehouse management, inventory movement, shipping preparation, and reverse logistics.

Subscription and consulting services4 %

Recurring and project-based ecommerce advisory, analytics, and growth services.

Products

Reported · share of revenue
85.8%FY2025100 %
  • Amazon.com85.8 %
  • Amazon Marketplaces International6.8 %
  • Other Online Marketplaces and Channels6.0 %
  • Saa S Logistics and Other Revenue1.3 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Pattern sells primarily to consumer brand owners that want to expand on major ecommerce marketplaces without building a large in-house marketplace operation. Its customers include brands in health and wellness, beauty and personal care, home and lifestyle, pet, sports and outdoors, and consumer electronics. The company also serves marketplaces indirectly by helping improve product selection, availability, and consumer experience.

Brand partners

Consumer brands that sell inventory to Pattern and use its platform to expand marketplace reach and execution.

Marketplace platforms

Online marketplaces where Pattern lists and sells products, benefiting from assortment and activity.

End consumers

Shoppers buying branded products on global ecommerce marketplaces.

Strategy

Pattern’s strategy is to deepen relationships with existing brand partners while onboarding new brands that fit its marketplace model. It also continues investing in technology, AI, localized teams, and warehouse automation to improve execution, scale across regions, and strengthen its data advantage.

Grow with existing brand partnersShort term

Long-tenured partners are a major source of revenue expansion and relationship depth.

Onboard new brand partnersMedium term

New brands broaden category mix and increase the addressable marketplace opportunity.

Invest in technology and AIMedium term

Automation and better data improve pricing, content, forecasting, and ad performance.

Geography

Q1/2026

Pattern operates across more than 70 marketplaces and sells to consumers in more than 100 countries. Its brand partners and operating teams span the Americas, Europe, Australia, and Asia, making geography central to its marketplace coverage, logistics, and localization model.

United States88 %
Other countries (US filing)12 %

Share of the revenue the company reports by geography.

Risks

Pattern depends on access to major marketplaces and on the quality and availability of marketplace data, so platform policy changes or data restrictions could hurt execution. Its model also requires accurate forecasting, inventory management, and cybersecurity protection across a large digital and physical operating footprint. Competition, unauthorized sellers, and cross-border fulfillment complexity can all affect brand partner relationships and operating performance.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Marketplace concentration and platform dependency1Marketplace data access and quality2Cybersecurity and systems disruption3Operational execution in fulfillment and inventory4Unauthorized sellers and counterfeit products5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Marketplace concentration and platform dependencyImpact: HighLikelihood: Medium

    Revenue depends on maintaining access to major ecommerce marketplaces and their rules.

    Exposure: Amazon and other marketplaces

  2. Marketplace data access and qualityImpact: HighLikelihood: Medium

    The platform relies on large-scale marketplace data for pricing, content, and forecasting.

    Exposure: Data-driven optimization

  3. Cybersecurity and systems disruptionImpact: HighLikelihood: Medium

    Operations depend on connected technology systems and large volumes of confidential data.

    ExposureInternal systemsWarehousesMarketplace integrations
  4. Operational execution in fulfillment and inventoryImpact: MediumLikelihood: Medium

    The model requires accurate inventory planning, shipping, and reverse logistics across regions.

    Exposure: Global warehouse network

  5. Unauthorized sellers and counterfeit productsImpact: MediumLikelihood: Medium

    Marketplace channels can dilute brand integrity and create customer experience issues.

    Exposure: Brand protection

Accounting

Judgemental items
Revenue recognition and returns allowances

Product sales are recorded when shipped, and return estimates affect net revenue.

Impact: Timing of revenue and reserve levels

Inventory and cost of goods sold

Pattern purchases inventory before resale, so valuation and obsolescence assumptions matter.

Impact: Gross margin and working capital

Fulfillment and logistics accruals

Warehouse, shipping, and third-party fulfillment costs are significant operating inputs.

Impact: Operating expenses and period comparability

Stock-based compensation

Expense recognition depends on grant-date valuation and vesting assumptions.

Impact: Operating expenses and equity dilution

Lease accounting

Corporate offices and warehouses create lease assets and liabilities under U.S. GAAP.

Impact: Balance sheet leverage and expense timing

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026