Revolve Group, Inc. announced financial results for Q3 2022, reporting double-digit growth in net sales despite macroeconomic challenges. The company also saw meaningful growth in cash flow year-over-year and has a strong balance sheet.
Net sales increased by 10% year-over-year.
Active customers increased by 34% year-over-year.
Net income decreased by 28% year-over-year.
Free cash flow increased 543% year-over-year.
Net sales in October 2022 increased approximately 3% year-over-year amidst an increasingly uncertain macroenvironment highlighted by meaningful inflationary pressures and foreign exchange headwinds due to significant appreciation of the U.S. dollar against foreign currencies in recent months, and against a more elevated prior-year comparison than we faced in the first nine months of 2022.
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