What is Torrid Holdings's gift card breakage rate (as a percent)?

Torrid Holdings (CURV) reported gift card breakage rate (as a percent) of 4% in Q4 2025.

What does gift card breakage rate (as a percent) mean?

This represents the percentage of issued gift cards that are estimated to remain unredeemed by customers and are subsequently recognized as revenue. A higher breakage rate can indicate a shift in consumer behavior or the effectiveness of loyalty programs. It serves as a key indicator of deferred revenue recognition and customer engagement.

Torrid Holdings CURV Gift card breakage rate (as a percent)

Gift card breakage rate (as a percent) at other companies

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Ulta Beauty, Inc.ULTA

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EAT

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$2.2M-31.3%

Other financials

Income statement

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Revenue$245.8M-7.6%

Gross profit$86.8M-14.4%

Operating income$8.6M-46.6%

Net income$414.0K-93.0%

EPS (diluted)$0.00-100%

Balance sheet

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Cash & equivalents$23.3M-3.4%

Total debt$392.3M-12.5%

Total equity-$211.9M-15.3%

Total assets$402.5M-10.8%

Cash flow

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Operating cash flow$11.2M+162%

CapEx$5.5M+115%

Free cash flow$5.7M+128%

Valuation

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Market cap$175.16M-45.9%

Enterprise value$544.21M-27.3%

P/S0.2×-0.1×

Profitability

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Gross margin34%-2.6pp

Operating margin2.9%-2.3pp

Net margin-1.3%—

FCF margin2.5%-1.5pp

Returns & leverage

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Return on equity6.4%—

Debt / equity-1.9×—

Current ratio0.8×-0.1×

Where this comes from

Reported directly by Torrid Holdings in its filing.

Tagged under the XBRL concept thi:GiftCardBreakageRate.

The official record: Torrid Holdings’s 10-K, filed March 31, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Torrid Holdings's gift card breakage rate (as a percent)?: Torrid Holdings (CURV) reported gift card breakage rate (as a percent) of 4% in Q4 2025.
What does gift card breakage rate (as a percent) mean?: This represents the percentage of issued gift cards that are estimated to remain unredeemed by customers and are subsequently recognized as revenue. A higher breakage rate can indicate a shift in consumer behavior or the effectiveness of loyalty programs. It serves as a key indicator of deferred revenue recognition and customer engagement.