In its latest trading update, Naked Wines has reported positive results, with increases across the majority of its KPIs, excluding revenue.

Since its previous trading update in September, the company’s performance has continued to be in line with its communicated FY26 guidance. 

In addition to this, there were improvements in its adjusted EBITDA and margin, cash generation and delivery. 

The company continued that it had also completed its first share buyback programme of £2m. It said the “board believes [this] has increased intrinsic value per share for all remaining shareholders.” 

In its full-year guidance for 2026, Naked said it projected revenue to be between £200m and £216m, which is down from the £250.2m reported in fiscal 2025.

Adjusted EBITDA is expected to range between £5.5m to £7.5m, compared to 6.7m in FY25.

Net cash is expected to improve, up to between £35m and £39m, from £30.1m in 2025.

The company also said it expected inventory liquidations and associated costs to reach £12m over the medium term.

The news comes after chief executive Rodrigo Maza announced a renewed focus on growth, after the online wine retailer experienced a 14% drop in revenue in the 52 weeks to 31 March 2025.