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Oct 29, 2022
Stitch Fix Q1 2023 Earnings Report
Announced first quarter of fiscal year 2023 financial results, showing progress on transformation journey amidst a difficult macro environment.
Key Takeaways
Stitch Fix reported a net revenue of $455.6 million, a 22% decrease year-over-year. The company has 3,709,000 active clients, a decrease of 11% year-over-year. Net loss was $55.9 million, with a diluted loss per share of $0.50. Adjusted EBITDA loss was $7.4 million.
Net revenue decreased by 22% year-over-year, totaling $455.6 million.
Active clients decreased by 11% year-over-year, reaching 3,709,000.
Net revenue per active client (RPAC) remained approximately flat year-over-year at $525.
Net loss amounted to $55.9 million, with a diluted loss per share of $0.50.
Forward Guidance
For the second quarter of fiscal 2023, Stitch Fix expects net revenue between $410 million and $420 million, representing a 19% to 21% year-over-year decline. Adjusted EBITDA is expected to be between negative $5 million and positive $5 million. For the full fiscal year 2023, net revenue is expected to be between $1.6 billion and $1.7 billion, with adjusted EBITDA between negative $10 million and positive $10 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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