Pattern Group Inc. delivers 43% year-over-year revenue growth and a Piotroski F-Score of 8/9 with free cash flow conversion of 397%, but 93% customer concentration in a single customer and a leverage ratio of 5.1 times debt-to-equity create existential concentration risk that outweighs the growth story.
Thesis pillars
- Revenue Growth Strength→Stable
- Amazon Concentration Existential Risk↑Improving
- High Leverage Risk↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Mar 6, 2026· older than 90 days
Pattern Group Inc. - Series A (PTRN) Stock Analysis
Range Bound setup
Consumer Cyclical · Internet Retail
Sell if holding. Multiple concerning factors at $16.92: Concentration risk — Customer: Amazon (93.0%); V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1).
Pattern Group purchases products from brand partners and resells them on 70+ global ecommerce marketplaces in 100+ countries, with Amazon accounting for 93% of 2025 revenue. The platform serves 200+ brands across health, beauty, and home categories, using 66 trillion proprietary... Read more
Sell if holding. Multiple concerning factors at $16.92: Concentration risk — Customer: Amazon (93.0%); V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1). Chart setup: RSI 46 mid-range, Bollinger mid-band. Score 6.7/10, moderate confidence.
Passes 5/7 gates (positive momentum, favorable risk/reward ratio, clean insider activity, semi cycle peak clear, materials cycle peak clear). Fails on earnings proximity 0d<=7d. Suitability: speculative.
About Pattern Group Inc. - Series A
About Pattern Group Inc. - Series A
Pattern Group derived 93% of 2025 revenue from consumer product sales on Amazon, operating across more than 70 ecommerce marketplaces in more than 100 countries and employing approximately 2,300 full-time employees plus about 420 contractors as of December 31, 2025. The platform serves more than 200 brand partners, supported by a proprietary dataset of more than 66 trillion data points and a team of approximately 480 software engineers and data scientists.
The company earns revenue by purchasing inventory directly from brand partners and reselling those products to consumers as a third-party seller — the Global 3P Accelerator drives the majority of consumer product sales. The health and wellness category drove 69% of inventory purchases in 2025, with two unnamed brand partners in that category each accounting for 17% of total inventory purchases. Approximately 89% of 2025 revenue came from existing brand partners, and 53% from partners with more than five years of tenure, reflecting a net revenue retention rate of 124%. The company also offers SaaS tools, fulfillment services, and consulting, though these represent a smaller share of total revenue.
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The Amazon dependency creates a binary platform risk the 10-K explicitly names: any adverse change in the relationship — account suspension, policy change, fee increase, or disruption to Amazon's operations — could adversely affect continued growth, financial condition, and results of operations. Pattern's terms of use with Amazon are click-through agreements it cannot negotiate, terminable at will by either party. The shift toward AI-enabled shopping assistants and embedded checkout that bypass third-party marketplaces may weigh on demand for Pattern's marketplace acceleration solutions, requiring significant investment and re-architecture to remain competitive.
See also: Consumer Cyclical · Internet Retail
From Pattern Group Inc. - Series A's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Oct 28, 2026Recent Developments — Pattern Group Inc. - Series A
Latest news
- NEWS PTRN Q3'26 Earnings: revenue estimate is 853.72M USD - TradingView — TradingView Oct 28, 2026 neutral
- NEWS made by Fressko Amazon Australia Sales Grow by 71% with Pattern - Yahoo Finance — Yahoo Finance Oct 27, 2026 positive
- NEWS PATTERN GROUP ($PTRN) Releases Q2 2026 Earnings - Quiver Quantitative — Quiver Quantitative Aug 5, 2026 neutral
- NEWS PATTERN GROUP ($PTRN) Releases Q2 2026 Earnings - quiverquant.com — quiverquant.com Aug 5, 2026 neutral
- NEWS Pattern Group Q2 2026 Earnings Call Transcript - MarketBeat — MarketBeat Aug 5, 2026 neutral
Latest item Oct 28, 2026 · Generated 2026-11-04T11:29:29Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHCustomerAmazon93%10-K Item 1A: 'we derived 93% of our revenue from consumer product sales on Amazon'
- MEDIUMSuppliertwo health and wellness brand partners10-K Item 1A: 'two brand partners in the health and wellness category accounted for 17% and 17% of our inventory purchases and contributed significantly to our growth'
Material Events(8-K, last 90d)
- 2026-03-18Item 5.02LOWDirector Daniel Gay resigned effective March 16, 2026, for personal reasons; no disagreement with the company cited. Board reduced from 7 to 6 directors. John Bailey appointed to the Audit Committee.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $16.92: Concentration risk — Customer: Amazon (93.0%); V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1). Chart setup: RSI 46 mid-range, Bollinger mid-band. Prior stop was $15.74. Score 6.7/10, moderate confidence.
Analyst target: $22.95 (+35.6% upside). Prior stop was $15.74. Stop-loss: $15.74.
Concentration risk — Customer: Amazon (93.0%); V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1); Sector modifier (Consumer Cyclical): -1.5.
Pattern Group Inc. - Series A trades at a P/E of N/A (forward 21.5). TrendMatrix value score: 6.9/10. Verdict: Sell.
14 analysts rate PTRN, with a consensus score of 4.1/5. 8 analysts publish price targets averaging $26.
What does Pattern Group Inc. - Series A do?Pattern Group purchases products from brand partners and resells them on 70+ global ecommerce marketplaces in 100+...
Pattern Group purchases products from brand partners and resells them on 70+ global ecommerce marketplaces in 100+ countries, with Amazon accounting for 93% of 2025 revenue. The platform serves 200+ brands across health, beauty, and home categories, using 66 trillion proprietary data points for advertising, pricing, and inventory automation.