RH reported a solid 9% revenue growth in Q3 2025 despite headwinds from the housing market and rising tariffs, reinforcing its position in the luxury furniture sector.

• Revenue increased 9% YoY and 18% on a two-year basis, underscoring the brand's resilience and market share gains.
• Adjusted operating margin at 11.6% and adjusted EBITDA margin at 17.6%, slightly below guidance due to higher tariff expenses.
• Generated $83 million in free cash flow for the quarter, totaling $198 million year-to-date, on track to meet full-year targets of $250 to $300 million.
• Ongoing international expansion and product innovations are expected to drive future growth, despite current market uncertainties.
• Inventory reduced by 11% YoY, with significant progress on targeted reductions, positioning the company for improved operational efficiency.