Stitch Fix Q3 revenue $322.7M beats guidance; net loss narrows, adj EBITDA positive

Stitch Fix, Inc.

2024-Q3 EPS reported -$0.78 revenue$1,017,918,000

Net revenue $322.7M, down 16% YoY but exceeded expectations; gross margin improved 280 bps to 45.5%.
Active clients fell to 2.63M, down 20% YoY and 6% QoQ; net revenue per active client up 2% to $525.
Net loss from continuing ops $22.0M ($0.18 diluted loss); adjusted EBITDA $6.7M, positive for the quarter.
Free cash flow $18.9M; cash and investments $244.5M with no debt.
Q4 guidance: revenue $312-322M, adj EBITDA $5-10M; FY2024 revenue $1.33-1.34B, adj EBITDA $25-30M.

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