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Apr 30, 2022
Stitch Fix Q3 2022 Earnings Report
Announced third quarter fiscal year 2022 financial results
Key Takeaways
Stitch Fix reported a net revenue of $492.9 million, a decrease of 8% year over year. Active clients also decreased by 5% year over year, totaling 3,907,000. The company is implementing cost-saving measures, including a workforce reduction, to position itself for profitable growth.
Net revenue was $492.9 million, an 8% decrease year over year.
Active clients totaled 3,907,000, a 5% decrease year over year.
Net revenue per active client (RPAC) was $553, a 15% increase year over year.
Net loss was $78.0 million, resulting in a diluted loss per share of $0.72.
Forward Guidance
For the fourth quarter of fiscal 2022, Stitch Fix anticipates net revenue between $485 million and $495 million, representing a 15% to 13% year-over-year decline. Adjusted EBITDA is projected to be between negative $30 million and negative $25 million, which excludes restructuring and other one-time charges totaling $15 million to $20 million.
Challenges Ahead
- Net Revenue: $485 million - $495 million, (15)% - (13)% YoY decline
- Adjusted EBITDA: $(30) million - $(25) million, (6)% - (5)% margin
Historical Earnings Impact
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Avg. Return Before/After Earnings
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