Revolve Group Q1 2024 net sales down 3% to $270.6M; gross margin expands to 52.3%

Revolve Group, Inc.

2024-Q1 EPS reported $0.15 revenue$270,581,000

Net sales $270.6M vs $279.6M YoY (-3%); gross margin 52.3% (+250 bps) on higher full-price mix and lower inventory adjustments.
Net income $10.9M vs $14.2M (-23%); adjusted EBITDA $13.3M vs $15.0M (-12%); diluted EPS $0.15 (-21%).
Active customers 2.55M (+5% YoY); April 2024 net sales up low single digits YoY, improving sequential trend.
FWRD segment net sales down 15% to $41.0M; REVOLVE segment down 1% to $229.6M.
Cash and equivalents $273.4M, debt-free; $61.4M remaining in buyback; repurchased 530,007 shares at avg $15.17 in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Revolve Group, Inc. reported first quarter ended March 31, 2024 results: revenue $270,581, net income $10,873, EPS $0.15.

Period: first quarter ended March 31, 2024
Revenue: $270,581
Net income: $10,873
EPS: $0.15
Result: reported results

Exact text from the filing

with the next-generation consumer.” First Quarter 2024 Financial Summary Three Months Ended March 31, 2024 2023 YoY Change (in thousands, except percentages) Net sales $ 270,581 $ 279,609 (3%) Gross profit $ 141,502 $ 139,220 2% Gross margin 52.3 % 49.8 % Net income $ 10,873 $ 14,172 (23%) Adjusted EBITDA (non-GAAP financial measure) $ 13,267 $ 15,010

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Source: SEC EDGAR

accession 0000950170-24-054482

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