VANCOUVER, BC, Aug. 26, 2026 /PRNewswire/ — Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of AI-enabled marketing-focused online business solutions, announces that it has filed its interim consolidated financial statements (the “Interim Financial Statements”) and management’s discussion and analysis (the “MD&A”) for Q2-2026, representing the three and six months ended June 30, 2026. Copies of the Interim Financial Statements and MD&A are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Jordan Gutierrez, Wishpond’s Chief Executive Officer, commented, “The second quarter was a transition period for Wishpond. With the spin-out of SalesCloser Technologies Ltd. (“SalesCloser”) and the divestiture of Viral Loops Limited (“Viral Loops”) both completed in the first quarter, our work in Q2 was focused internally – aligning the Company’s cost structure to the size of the business and focusing on the core marketing technology platform.”

Adrian Lim, Wishpond’s Chief Financial Officer, commented, “Our priorities through the balance of 2026 are a leaner operating base, improved retention in the core platform and disciplined execution. Wishpond shareholders also continue to participate in SalesCloser’s progress through the Company’s approximately 62.87% interest in SalesCloser.”

Second Quarter 2026 Financial Highlights:

Wishpond achieved quarterly revenue of $2,350,470 during Q2-2026 (Q2-2025: $3,710,437).  The decline primarily reflected the disposal of substantially all of the assets of the Viral Loops business on March 9, 2026, which removed a full quarter of Viral Loops’ revenues from the Company’s revenue base, together with reduced contribution from lower-margin revenue streams and lower sales capacity following cost optimization initiatives.Wishpond achieved Gross Profit of $1,556,859 in Q2-2026 (Q2-2025: $2,527,282). The reduction in Gross Profit is primarily due to lower revenue in the quarter.Wishpond achieved a Gross Margin percentage of 66% during Q2-2026 (Q2-2025: 68%).During Q2-2026, Wishpond reported negative Adjusted EBITDA(1) of $1,569,306 (Q2-2025: negative $228,116). The quarter’s net loss of $2,160,836 includes $202,129 of reverse takeover listing expenses and $138,168 of stock-based compensation expenses, together totalling $340,297. The substantial majority of the charges arising from the SalesCloser qualifying transaction – a $2,648,096 reverse takeover listing expense and $1,223,180 of stock-based compensation – were recognized in Q1-2026 on closing of the transaction on March 26, 2026 and are reflected in the six-month figures below. Net loss for the quarter and the six-month period also reflects the derecognition of accounts payable balances of $179,819 that are no longer considered payable, recognized as a non-cash gain in other income. Of the Q2-2026 net loss, $1,490,661 is attributable to shareholders of Wishpond and $670,175 to the non-controlling interest in SalesCloser. Wishpond’s consolidated results include SalesCloser, which remains in a growth and investment phase and contributed negative Adjusted EBITDA of $1,421,113 in the quarter; excluding that contribution, Wishpond’s core business generated negative Adjusted EBITDA of $148,193.

Events Subsequent to June 30, 2026:

On July 27, 2026, the Company received a notice of default from its senior lender in respect of a financial covenant under a forbearance agreement with the senior lender (the “Forbearance Agreement”). The breach arose partially from the timing of the Viral Loops divestiture relative to the forecast against which such covenant was measured. The lender has not waived the default and has reserved its rights and, as at the date of hereof, has not demanded repayment or termination of the Forbearance Agreement. As disclosed in Note 1 to the Interim Financial Statements, these events and conditions indicate a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.

Outlook:

For 2026, Wishpond is focused on strengthening its core marketing technology platform and sales solutions business, with an emphasis on its core Wishpond marketing suite, improving operating efficiency and enhancing financial flexibility. Following the completion of the Viral Loops divestiture and the SalesCloser transaction subsequent to year-end, the Company is focused on executing against its core business and aligning resources around the products, services and customer relationships that management believes are most central to Wishpond’s long-term operating performance.

The Company has taken steps in 2025 and 2026 to streamline operations and align its cost structure more closely with revenue levels, and management intends to continue those efforts through the second half of 2026. Wishpond remains focused on supporting the performance of its core platform and product suite, improving customer acquisition and retention and continuing to develop AI-enabled capabilities intended to enhance the effectiveness of its marketing and sales solutions.

Following the completion of the SalesCloser transaction, Wishpond continues to maintain exposure to SalesCloser through its 62.87% ownership interest as at June 30, 2026, while management remains focused on executing against the Company’s core marketing technology business. Jordan Gutierrez was appointed Chief Executive Officer of Wishpond effective March 26, 2026, and the Company enters the balance of 2026 with a more focused operating structure and clearer strategic priorities.

Management’s key priorities for 2026 are as follows:

strengthen organic revenue performance;improve margins and operating efficiency through disciplined cost management;reduce churn and increase long-term customer value; andimprove liquidity and financial flexibility.

Selected Financial Highlights: 

The tables below set out selected financial information relating to Wishpond and should be read in conjunction with the Interim Financial Statements and MD&A, copies of which can be found under Wishpond’s profile on SEDAR+ at www.sedarplus.ca.

Reconciliation to Adjusted EBITDA(1)

Footnotes:

Note: Consolidated Adjusted EBITDA for Q2-2026 includes negative Adjusted EBITDA of $1,421,113 from SalesCloser Technologies Ltd., which is consolidated into Wishpond’s financial results. Excluding this contribution, Adjusted EBITDA for Wishpond core was negative $148,193. Wishpond core is calculated by deducting SalesCloser’s standalone results from Wishpond’s consolidated results and is not adjusted for intercompany eliminations, purchase accounting or non-controlling interests.  This supplemental non-GAAP information is provided to help readers understand the impact of consolidating SalesCloser on the Company’s results, does not have a standardized meaning under IFRS, may not be comparable to similar measures presented by other issuers and should not be considered in isolation from, or as a substitute for, Wishpond’s consolidated financial results.

On Behalf of the Board of Wishpond 

“Jordan Gutierrez”
Chief Executive Officer
Phone: 778-655-4154

About Wishpond Technologies Ltd.    

Wishpond is a Vancouver-based provider of AI-enabled marketing and sales solutions that help businesses grow more efficiently. The Company’s vision is to create a fully autonomous AI-enabled platform that streamlines the entire customer acquisition journey, from lead generation and engagement to deal closure, enabling businesses to scale cost-effectively while driving higher conversions. Wishpond offers an all-in-one marketing suite that integrates AI-driven tools such as an AI Website Builder and AI Email Automation. The Company serves small-to-medium-sized businesses across various industries, providing a powerful yet cost-effective alternative to fragmented marketing solutions. Wishpond employs a Software-as-a-Service (SaaS) business model, generating most of its revenue from subscription-based recurring revenue, which ensures strong revenue predictability and cash flow visibility while continuously expanding its AI capabilities. Wishpond is listed on the TSXV under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

Cautionary Statements, Summary Information

Information presented in this press release may be only a summary of all available information and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and the MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and the MD&A, and to not rely only on the information presented in this press release. In the event of conflict between the provisions of this press release on the one hand, and the Interim Financial Statements and the MD&A on the other hand, the information in the Interim Financial Statements and the MD&A shall govern.

Non-GAAP Financial Measures

In this press release, Wishpond has used the following terms (“Non-GAAP Financial Measures”) that are not defined by IFRS, but are used by management to evaluate the performance of Wishpond and its business, including: Adjusted EBITDA. These measures may also be used by investors, financial institutions and credit rating agencies to assess Wishpond’s performance and ability to service debt. Non-GAAP Financial Measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP Financial Measures are clearly defined, qualified and reconciled to their most comparable IFRS financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures should not be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP Financial Measures differently. Non-GAAP Financial Measures are identified and defined as follows:

Adjusted EBITDA: Adjusted EBITDA should not be construed as an alternative to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with Generally Accepted Accounting Principles as an indicator of the Company’s performance. The Company defines “Adjusted EBITDA” as Income or Loss before income taxes less interest, depreciation and amortization, remeasurement of contingent consideration liability, filing fees, credit facility setup and renewal fees, earn-out remuneration, foreign currency losses (gains), acquisition related expenses, reverse takeover listing expense, net other expenditures (income), and stock-based compensation. The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives.

Forward-Looking Statements

Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, all information contained under the heading “Outlook” herein, including statements regarding the Company’s strategic priorities and objectives for 2026, anticipated improvements in operating efficiency, customer acquisition and retention, churn reduction, liquidity and financial flexibility, expected benefits arising from the Company’s cost optimization initiatives, anticipated performance of the Company’s core marketing technology platform and sales solutions business, the Company’s continued ownership of and exposure to SalesCloser, the future development, commercialization and adoption of products and services incorporating artificial intelligence and references to expected results from the future operations of the Company and its subsidiaries

Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements.

Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control.

Such risks and uncertainties include, but are not limited to, potential operational inefficiencies due to the change in management and as a result of the SalesCloser transaction and the Viral Loops divestiture, the dilution of the Company’s ownership interest in SalesCloser as a result of future share issuances by SalesCloser and the risk that the Company ceases to control and consolidate SalesCloser, the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern, the risk that the senior lender demands repayment and accelerates the indebtedness or terminates the Forbearance Agreement, the ability of the Company to successfully comply with the terms and conditions of the Forbearance Agreement and its other credit facilities going forward, the adequacy of any of the Company’s credit facilities or working capital to provide the Company with sufficient funding or capital, whether the Company’s financial and operational goals for 2026 can be realized, economic uncertainty and instability as a result of ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, tariffs, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company and the additional risk factors discussed in the continuous disclosure materials of the Company, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Wishpond Technologies Ltd.

Improving Momentum Positions the Group for Sustainable Growth

Group revenue was €101 million in H1 2026, down 13% versus H1 2025, reflecting the Group’s ongoing brand transformation and the strategic optimization of its retail footprint with store network reduced to 151 directly operated stores. Group e-commerce returned to growth.Gross profit margin expanded to 59%, up 1.29 pp(1) year-on-year, as improved sell-through, more effective product lifecycle management and efficiency programs across major brands took effect.Gross profitability improved markedly, with Contribution Profit and Adjusted EBITDA margins up 7.7 and 10.7 pp(1) respectively.Brand highlights include like-for-like growth across boutiques and a well-received FW26 Paris runway at Lanvin, resilient trading and gross margin expansion to 60% at Wolford, early wholesale momentum building at Sergio Rossi, and continued strength at St. John with e-commerce up 31% in its reporting currency and a stable 70% gross margin.Group-wide priorities in H2 2026 include advancing the reset and transformation agenda; unlocking new revenue opportunities across markets, channels and categories; accelerating strategic partnerships and collaborations; maintaining disciplined cost, working capital and cash management while selectively investing behind growth; and continuing to optimize the Group’s brand portfolio.

SHANGHAI, Aug. 26, 2026 /PRNewswire/ — Lanvin Group (NYSE: LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, Sergio Rossi and St. John in its portfolio of brands, today announced its unaudited results for the first half of 2026. Against a still-transitional luxury market, the Group delivered a marked improvement in gross profitability, underpinned by strong cost discipline, operational efficiency and the continued execution of its strategic transformation.

Group revenue for H1 2026 was €101 million, down 13% year-on-year, primarily driven by the planned optimization of the retail footprint and the Group’s ongoing brand transformation. Despite lower revenue, the Group delivered gross profit of €59 million at a margin of 59%, an improvement from prior-year period, supported by improved sell-through, disciplined inventory management and efficiency initiatives across major brands. Strong cost control delivered a substantial reduction in losses, as a result of the Group’s efficiency improvement initiatives.

Zhen Huang, Chairman of Lanvin Group, said: “The first half represented an encouraging step forward for the Group. Supported by renewed creative and executive leadership across our houses, we are confident in our ability to progressively unlock the long-term potential of our brands amid market challenges.”

Andy Lew, Executive President of Lanvin Group, said: “We have reshaped how the Group operates—emerging leaner, more agile and materially more efficient. With that foundation in place, the second half is about further execution: activating our new creative and commercial leadership, sharpening our channel mix, and through its directly owned and licensing businesses, bringing a compelling pipeline of collections to market to reignite brand desirability and consumer engagement.”

Review of the First Half 2026 Results

Review of First Half 2026 Financials

Revenue

For H1 2026, the Group generated revenue of €101 million, a 12.9% decrease year-over-year. The decline primarily reflected the planned rationalization of the retail network and the Group’s strategic brand transformation, partially offset by encouraging like-for-like retail performance. Within DTC, Group e-commerce returned to growth, driven by a strong recovery and sustained momentum at Wolford and St. John. Retail footprint optimization continued through H1, with the store network reduced to 151 directly operated stores as the Group continues to rationalize underperforming locations and strengthen the productivity of its retail network.

Gross Profit

Gross profit was €59 million, representing a margin of 59.0%, compared to 57.7% in H1 2025. The 1.29 pp(1) improvement was driven by stronger sell-through, more effective product lifecycle management and supply chain efficiencies at Lanvin, Wolford and St. John.

Contribution Profit

Contribution profit was -€9 million in the first half, a €10 million improvement from the prior-year period. The improvement was driven primarily by lower selling expenses following the strategic rationalization of the retail network, alongside broader cost discipline across the Group, offsetting the impact of lower revenue.

Adjusted EBITDA

Adjusted EBITDA improved to -€35 million in H1 2026, from -€52 million in the prior-year period, representing a €17 million reduction in losses, as a result of disciplined cost management and operating efficiencies. The Group continued to invest selectively in creative initiatives and product development.

2026 Full-Year Outlook

The Group enters H2 2026 on a leaner, more agile platform and a materially improved cost base. The focus includes: pursuing new revenue opportunities across markets, channels and categories, and exploring new licensing and partnership opportunities. The Group will maintain disciplined cost, working capital and cash management while investing selectively in high-return opportunities. Across the portfolio, Lanvin will deepen client engagement and asset-light partnerships, Wolford will accelerate wholesale and e-commerce, Sergio Rossi will build on the strong reception of its SS27 collection, and St. John will harness its new creative leadership and upcoming capsules.

Semi-Annual Report

Our semi-annual report, including the interim condensed consolidated financial statements as of and for the six months ended June 30, 2026, can be downloaded from the Company’s investor relations website (ir.lanvin-group.com) under the section Financials / SEC Filings, or from the SEC’s website (www.sec.gov).

Conference Call

As previously announced, today at 8:00AM EST/8:00PM CST/2:00PM CET, Lanvin Group will host a conference call to discuss its results for the first half of 2026 and provide an outlook for the remainder of the year. Management will refer to a slide presentation during the call, which will be made available on the day of the call. To view the presentation, please visit the “Events” tab of the Group’s investor relations website at https://ir.lanvin-group.com.

All participants who would like to join the conference call must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, a passcode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to and after the call starts.

Registration Link:
https://dpregister.com/sreg/10211387/104b342f75c 

A replay of the conference call will be accessible approximately one hour after the live call until September 1, 2026, by dialing the following numbers:

USA/Canada Toll-Free: 1-855-669-9658
International Toll: 1-412-317-0088
Replay Access Code: 1329150

A recorded webcast of the conference call and a slide presentation will also be available on the Group’s investor relations website at https://ir.lanvin-group.com.

About Lanvin Group

Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China and Milan, Italy, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi and St. John. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. The shares of Lanvin Group are listed on the New York Stock Exchange under the ticker symbol ‘LANV’. For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.

Forward-Looking Statements

This communication, including the section “2026 Full-Year Outlook”, contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lanvin Group’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes adversely affecting the business in which Lanvin Group is engaged; Lanvin Group’s projected financial information, anticipated growth rate, profitability and market opportunity may not be an indication of its actual results or future results; management of growth; the impact of public health crises on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognition and reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumers to shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectively manage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levels of competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distribution partners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protect its intellectual property rights; Lanvin Group’s ability to attract and retain qualified employees and preserve craftsman skills; Lanvin Group’s ability to develop and maintain effective internal controls; general economic conditions; the result of future financing efforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materialize or Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lanvin Group presently does not know, or that Lanvin Group currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. Lanvin Group anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while Lanvin Group may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequent to the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements.

Use of Non-IFRS Financial Metrics

This communication includes certain non-IFRS financial measures such as Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, adjusted earnings before interest and taxes (“Adjusted EBIT”), and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). These non-IFRS measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with IFRS. Reconciliations of non-IFRS measures to their most directly comparable IFRS counterparts are included in the Appendix to this communication. Lanvin Group believes that these non-IFRS measures of financial results provide useful supplemental information to investors about Lanvin Group. Lanvin Group believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Lanvin Group’s financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculate non-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Lanvin Group’s non-IFRS measures may not be directly comparable to similarly titled measures of other companies. Lanvin Group does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses, income and tax liabilities that are required by IFRS to be recorded in Lanvin Group’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgements by Lanvin Group about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, Lanvin Group presents non-IFRS financial measures in connection with IFRS results.

Non-IFRS Financial Measures and Definitions

Our management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, Adjusted EBIT and Adjusted EBITDA. Our management believes that these non-IFRS financial measures provide useful and relevant information regarding our performance and improve their ability to assess financial performance and financial position. They also provide comparable measures that facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. While similar measures are widely used in the industry in which we operate, the financial measures that we use may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS.

Contribution Profit is defined as revenue less the cost of sales and selling and marketing expenses. Contribution Profit subtracts the main variable expenses of selling and marketing expenses from Gross Profit, and our management believes this measure is an important indicator of profitability at the marginal level. Below contribution profit, the main expenses are general administrative expenses and other operating expenses (which include foreign exchange gains or losses and impairment losses). As we continue to improve the management of our portfolio brands, we believe we can achieve greater economy of scale across the different brands by maintaining the fixed expenses at a lower level as a proportion of revenue. We therefore use Contribution Profit Margin as a key indicator of profitability at the group level as well as the portfolio brand level.

Contribution Profit Margin is defined as Contribution Profit divided by revenue.

Adjusted EBITDA is defined as profit or loss before income taxes, net finance cost, exchange gains/(losses), depreciation, amortization, share-based compensation and provisions and impairment losses adjusted for income and costs which are significant in nature and that management considers not reflective of underlying operational activities, mainly including net gains on disposal of long-term assets, gain on debt restructuring and government grants.

Enquiries:

Media & Investors
Lanvin Group
Ross Luo
ross.luo@lanvin-group.com 

Coco Wang
coco.wang@lanvin-group.com 

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SOURCE Lanvin Group

DELRAY BEACH, Fla., Aug. 26, 2026 /PRNewswire/ — According to MarketsandMarkets™, the global Heat Pump Market size is projected to grow from USD 88.81 billion in 2026 to USD 169.04 billion by 2031 at a compound annual growth rate (CAGR) of 13.7% during the forecast period.

Browse over 300 market data tables and 70 figures spread through 335 pages and an in-depth TOC on ‘Heat Pump Market – Global Forecast to 2031.’

The global Heat Pump Market is experiencing continued growth as the electrification of space and water heating, decarbonization policies, and the transition away from fossil-fuel-based heating systems accelerate adoption. Heat pumps are increasingly being deployed as energy-efficient alternatives to conventional gas and oil heating systems, supported by energy security objectives, government incentives, and improvements in system efficiency. In 2024, heat pumps supplied around 12% of global space-heating needs in buildings, with deployment concentrated in the United States, China, Europe, and Japan. China remained the largest heat-pump market, while heat pumps in the United States outsold natural gas furnaces by 30% in 2024.

The market is also being shaped by advances in air-to-water systems, heat pump water heaters, low-GWP refrigerants, smart controls, and high-temperature heat pump technologies. Buildings remain the primary deployment segment, while industrial process heating and district heating represent emerging applications as manufacturers expand heat pump solutions beyond conventional residential HVAC. Commercially available heat pumps could technically supply around 20% of global industrial heat demand, mainly across low- and medium-temperature processes. At the same time, the transition toward lower-GWP refrigerants and increasing adoption of natural refrigerants such as R290 and CO₂ are driving product redesign and technology development.

Heat Pump Market Size & Forecast:

Market Size Available for Years: 2022–20312025 Market Size: USD 79.42 billion2031 Projected Market Size: USD 169.04 billionCAGR (2026–2031): 13.7%

Heat Pump Market Trends & Insights:

The North America Heat Pump Market is expected to register the highest CAGR of 17.0% during the forecast period.By type, the reversible heat pumps segment is expected to register the highest CAGR of 15.9% during the forecast period.By technology, the ground-source (Geothermal) heat pumps segment is expected to register the highest CAGR of 15.9% during the forecast period.By refrigerant, R20 segment is expected to register the highest CAGR of 25.2% during the forecast period.By rated capacity, the upto 10 kW segment is expected to register the highest CAGR during the forecast period.By application, the heating and cooling segment is projected to register the highest CAGR during the forecast period.By end user, the commercial segment is projected to register the highest CAGR during the forecast period.

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The air-to-water heat pumps segment is projected to record the highest CAGR during the forecast period.

Air-to-water heat pumps are expected to witness strong growth as electrification of space heating and domestic hot water accelerates, particularly in Europe. These systems can replace fossil-fuel boilers while providing heating, cooling, and hot-water functions, making them suitable for both new construction and retrofit applications. The IEA identifies Europe as a major market for hydronic heat pumps and notes that heat pump deployment in buildings is the near-term engine of global growth. The increasing adoption of low-GWP refrigerants, including R290 and R32, is further supporting product development and expanding the addressable market for air-to-water systems.

The commercial segment is projected to be the fastest-growing end user during the forecast period.

Commercial buildings are expected to experience increasing heat pump adoption as businesses seek to electrify space heating and cooling, reduce fossil-fuel consumption, and improve building energy efficiency. Heat pumps are particularly attractive in commercial applications because the same system can provide heating and cooling, while larger systems can integrate with building controls and thermal-storage solutions. The IEA identifies buildings as the primary near-term growth engine for heat pumps, and highlights continued opportunities for larger heat pump systems in commercial buildings, district heating, and other applications.

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North America is projected to be the fastest-growing region in the Heat Pump Market during the forecast period.

North America is projected to be the fastest-growing region in the global Heat Pump Market, supported primarily by strong replacement demand and increasing electrification of building heating. The US is already the second-largest Heat Pump Market globally, with heat pumps outselling gas furnaces for the fourth consecutive year in 2025. More than 20% of US households now use heat pumps for space heating, while around 90% have air conditioning, creating a substantial replacement opportunity as existing cooling systems reach end of life. Approximately two-thirds of US homes have the enabling conditions to replace conventional cooling-only air conditioners with reversible heat pumps, reducing the need for major building retrofits. In 2024, US heat pump sales increased by approximately 15% year-on-year, demonstrating renewed demand after the 2023 slowdown. Government support for clean energy manufacturing, electrification, and energy-efficient technologies is further strengthening regional investment and supply-chain development. 

Top Companies in Heat Pump Industry:

The Heat Pump Industry include DAIKIN INDUSTRIES, Ltd. (Japan), Carrier (US), Mitsubishi Electric Corporation (Japan), Midea Group (China), Panasonic Holdings Corporation (Japan), Bosch Thermotechnology Corp (Germany), LG Electronics Inc. (South Korea), Vaillant Group International GmbH (Germany), Viessmann Climate Solutions SE (Germany), Ariston Holding N.V. (Italy), Trane Technologies plc (Ireland), Johnson Controls (Ireland), Fujitsu (Japan), A. O. Smith Corporation (US), and NIBE Industrier AB (Sweden). These companies are strengthening their market positions through heat pump portfolio expansion, low-GWP refrigerant adoption, energy-efficiency improvements, product innovation, geographic expansion, strategic acquisitions, and investments in residential, commercial, and industrial heating applications.

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