Revolve Group Q1 2023 revenue down 1% to $279.6M; net income falls 37%, adjusted EBITDA down 52%

Revolve Group, Inc.

2023-Q1 EPS reported $0.19 revenue$279,609,000

Net sales $279.6M (-1% YoY); net income $14.2M (EPS $0.19) vs $22.6M (-37%).
Gross margin 49.8% (-468 bps) on lower full-price mix; adjusted EBITDA $15.0M (-52%).
Active customers grew 19% to 2.42M; REVOLVE segment -3%, FWRD +5% YoY.
April 2023 net sales declined ~7% YoY amid macro headwinds and inflationary pressures.
Free cash flow $47.7M; cash $283.3M, debt free; inventory down 12% from Dec 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Revolve Group, Inc. reported first quarter ended March 31, 2023 results: revenue $279,609, net income $14,172, EPS $0.19.

Period: first quarter ended March 31, 2023
Revenue: $279,609
Net income: $14,172
EPS: $0.19
Result: reported results

Exact text from the filing

said co-founder and co-CEO Michael Mente. First Quarter 2023 Financial Summary Three Months Ended March 31, 2023 2022 YoY Change (in thousands, except percentages) Net sales $ 279,609 $ 283,498 (1%) Gross profit $ 139,220 $ 154,411 (10%) Gross margin 49.8 % 54.5 % Net income $ 14,172 $ 22,568 (37%) Adjusted EBITDA (non-GAAP financial measure) $ 15,010 $ 31,543

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Source: SEC EDGAR

accession 0000950170-23-017199

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