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Jan 29, 2022
Stitch Fix Q2 2022 Earnings Report
Reported a 3% increase in net revenue year-over-year, reaching $516.7 million, with revenue per active client reaching a record of $549.
Key Takeaways
Stitch Fix announced its Q2 2022 financial results, reporting a 3% year-over-year increase in net revenue to $516.7 million. The company's revenue per active client reached a record $549, an 18% increase year-over-year. However, they experienced challenges with onboarding and conversion of clients.
Net revenue increased by 3% year-over-year to $516.7 million.
Active clients increased by 4% year-over-year, totaling 4,019,000.
Net revenue per active client reached a record $549, an 18% increase year-over-year.
The company reported a net loss of $30.9 million, with a diluted loss per share of $0.28.
Forward Guidance
For Q3 2022, Stitch Fix expects net revenue between $485 million and $500 million, representing a 10% to 7% year-over-year decline. Adjusted EBITDA is projected to be between negative $30 million and negative $25 million. For the full fiscal year 2022, the company now expects revenue to be flat to slightly down year-over-year.
Challenges Ahead
- Net Revenue: $485 million - $500 million, (10)% - (7)% YoY decline
- Adjusted EBITDA: $(30) million - $(25) million, (6)% - (5)% margin
- Softness in the number of active clients in the first half of fiscal 2022
- Uncertainty in the timing of improvements in conversion
- Revenue to be flat to slightly down year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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