Naked Wines PLC (LSE:WINE) said it now expects adjusted EBITDA for the 2026 financial year to come in at the top end of its previously issued guidance, following a strong peak trading period across all of its markets.

The online wine retailer said performance has been supported by robust seasonal trading and tighter cost control, with disciplined management of general and administrative expenses, cost of goods sold, and customer acquisition investment. These measures have helped offset the impact of a more selective growth strategy.

The company acknowledged that its decision to scale back less efficient investment is likely to result in revenue landing toward the lower end of guidance. Management reiterated that this approach is consistent with its longer-term aim of building “a smaller but materially more profitable business” that can return to sustainable, profitable growth.

Looking ahead, Naked Wines said it expects adjusted EBITDA to increase progressively over the medium term. A more detailed trading update covering peak performance is scheduled to be released in mid-January 2026. The company also confirmed that adjusted EBITDA excludes the impact of inventory liquidation and related costs.

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