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Apr 27, 2024
Stitch Fix Q3 2024 Earnings Report
Reported financial results for the third quarter of fiscal year 2024, exceeding expectations for revenue and adjusted EBITDA, signaling that transformation efforts are beginning to yield positive outcomes.
Key Takeaways
Stitch Fix reported Q3 2024 financial results, with revenue and adjusted EBITDA exceeding expectations. The company's transformation efforts are showing early signs of success. Net revenue was $322.7 million, a decrease of 16% year-over-year. The company reported a net loss from continuing operations of $22.0 million, or $0.18 per share, and an adjusted EBITDA of $6.7 million.
Net revenue was $322.7 million, a decrease of 16% year-over-year.
Active clients totaled 2,633,000, a decrease of 6% quarter-over-quarter and 20% year-over-year.
Net revenue per active client (RPAC) was $525, an increase of 2% year-over-year.
Gross margin increased to 45.5%, up 280 basis points year-over-year.
Stitch Fix
Stitch Fix
Forward Guidance
Stitch Fix provided financial outlook for Q4 2024, projecting net revenue between $312 million and $322 million, representing a year-over-year decrease of 14% to 12%. Adjusted EBITDA is expected to be between $5 million and $10 million, with a margin of 1.6% to 3.1%.