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May 01, 2021
Stitch Fix Q3 2021 Earnings Report
Reported a revenue increase of 44% year-over-year, driven by strong client growth.
Key Takeaways
Stitch Fix announced its Q3 2021 financial results, reporting a net revenue of $536 million, a 44% increase year-over-year. The active client count grew to 4.1 million, reflecting a 20% year-over-year growth. However, the company reported a net loss of $18.8 million, with a diluted loss per share of $0.18.
Net revenue increased by 44% year-over-year, reaching $535.6 million.
Active clients grew by 20% year-over-year, totaling 4.1 million.
Net revenue per active client decreased by 3% year-over-year to $481.
Net loss was $18.8 million, with a diluted loss per share of $0.18.
Stitch Fix
Stitch Fix
Forward Guidance
Stitch Fix provided its financial outlook for the fourth quarter and full year of fiscal 2021, anticipating net revenue between $540 million and $550 million for Q4, representing a 21.8% to 24.0% year-over-year growth. The adjusted EBITDA is projected to be between $15 million and $20 million, with a margin of 2.8% to 3.6%. For the full fiscal year, net revenue is expected to be between $2.070 billion and $2.080 billion, with an adjusted EBITDA between $25 million and $30 million.
Positive Outlook
- Net Revenue for Q4 is expected to be between $540 million and $550 million
- YoY growth for Q4 Net Revenue is expected to be between 21.8% and 24.0%
- Adjusted EBITDA for Q4 is expected to be between $15 million and $20 million
- Adjusted EBITDA margin for Q4 is expected to be between 2.8% and 3.6%
- Full year Net Revenue is expected to be between $2.070 billion and $2.080 billion
Challenges Ahead
- Full year Adjusted EBITDA is expected to be between $25 million and $30 million
- Full year Adjusted EBITDA margin is expected to be between 1.2% and 1.4%
- There are substantial risks and uncertainties related to the ongoing COVID-19 pandemic.
- The company's ability to generate sufficient net revenue to offset costs is uncertain.
- The company's ability to acquire, engage, and retain clients is uncertain.