UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38927 REVOLVE GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-1640160 (State or Other Jurisdiction of Incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38927 REVOLVE GROUP, INC. (Mark One) (Exact name of registrant as specified in its charter) Delaware 46-1640160 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38927 REVOLVE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38927 REVOLVE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

(Exact Name of Registrant as Specified in Its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38927 REVOLVE GROUP, INC. Delaware 46-1640160 (State or Other Jurisdiction of Incorp ...

Financial Performance - Gross margin for Q3 2021 was 55.1%, slightly down from 55.3% in Q3 2020, while the nine-month gross margin was 55.0%, up from 51.5% in the same period last year[100]. - Adjusted EBITDA for Q3 2021 was $21.666 million, down from $24.025 million in Q3 2020, with a nine-month total of $80.409 million compared to $50.511 million in the previous year[100]. - Free cash flow for the three months ended September 30, 2021, was $1,340,000, down from $13,877,000 in the same period of 2020, indicating a significant decline of 90.3%[115]. - Net income for the three months ended September 30, 2021, was $16.7 million, down from $19.4 million in the same period in 2020, with an effective tax rate increase to 13.9% from 9.8%[160]. - For the nine months ended September 30, 2021, net sales increased by 48.1% to $651.6 million, driven by a 40.4% increase in orders and a 13.4% increase in average order value[161]. Customer Metrics - Active customers increased to 1.678 million in Q3 2021, up from 1.504 million in Q3 2020, while total orders placed rose to 1.830 million from 1.141 million year-over-year[100]. - Active customers increased during the period ended September 30, 2021, compared to the same period in 2020, driven by increased demand due to easing restrictions and government stimulus payments[118]. - Total orders placed increased in the three and nine months ended September 30, 2021, relative to the same periods in 2020, attributed to heightened demand from easing restrictions and stimulus payments[120]. Sales and Revenue - Net sales for the three months ended September 30, 2021, increased by 61.6% to $244.1 million compared to $151.0 million in the same period in 2020, driven by a 60.4% increase in the number of orders and a 19.0% increase in average order value[152]. - REVOLVE segment net sales increased by 56.4% to $204.2 million for the three months ended September 30, 2021, compared to $130.6 million in the same period of 2020[137]. - FWRD segment net sales increased by 94.8% to $39.9 million for the three months ended September 30, 2021, compared to $20.5 million in the same period of 2020[138]. - Net sales to customers outside of the United States increased by 49.0% to $45.6 million for the three months ended September 30, 2021, compared to $30.6 million in the same period of 2020[139]. Marketing and Expenses - The company plans to increase marketing investments to capture consumer demand as economies reopen, which may lead to higher marketing costs as a percentage of net sales[129]. - Marketing expenses increased by 148.4% to $47.0 million, representing 19.2% of net sales, driven by higher investments in customer acquisition and brand marketing initiatives[157]. - Selling and distribution expenses surged by 83.8% to $38.4 million, accounting for 15.7% of net sales, attributed to increased shipping and handling fees and a higher return rate[156]. - General and administrative expenses are expected to increase in the near term as the company plans to invest in its team to support future growth[147]. Inventory and Fulfillment - The company reduced inventory receipts significantly in 2020 due to COVID-19, impacting sales demand, but has since increased inventory purchases to meet recovering demand[134]. - The company expects fulfillment expenses to fluctuate in the short term due to increased return rates and input cost pressures[143]. - Fulfillment expenses for the three months ended September 30, 2021, were $5.8 million, a 38.9% increase, but decreased as a percentage of net sales to 2.4% from 2.8% in 2020 due to automation efficiencies[155]. Economic Impact and Future Outlook - The COVID-19 pandemic initially caused a significant decline in net sales starting in March 2020, but sales returned to growth in 2021 due to easing restrictions and government stimulus[94]. - The overall economic environment and consumer behavior significantly impact the company's business, with macroeconomic factors influencing customer spending patterns[125]. - The COVID-19 pandemic continues to pose risks to net sales and gross margins, with unpredictable long-term impacts[137]. - The company plans to use existing cash and cash equivalents to meet anticipated cash needs for at least the next 12 months, although liquidity assumptions may prove incorrect[172][175].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-38927 REVOLVE GROUP, INC. (Exact name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-38927 REVOLVE GROUP, INC. (Exact name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporatio ...

Financial Performance - REVOLVE generated $580.6 million in net sales in 2020, serving approximately 1.5 million active customers and offering over 120,000 unique styles[32]. - Approximately 77% of net sales in 2020 were at full price, demonstrating the effectiveness of the data-driven merchandising model[23][34]. - The average order value was $236 in 2020, reflecting the focus on premium merchandise[32]. - Net sales and gross margins declined in 2020, with expectations that COVID-19 will continue to affect operating results for some time[103]. - The company experienced a material negative impact on product demand due to COVID-19, leading to cost reductions such as furloughs and pay cuts[84]. - The company anticipates challenges in accurately forecasting net sales and planning expenses due to the unpredictable nature of the pandemic and its impact on consumer behavior[102]. - Economic downturns and macroeconomic conditions may adversely affect consumer discretionary spending, impacting the company's operating results[88]. - The company has experienced a decline in its customer base due to the COVID-19 pandemic, increased competition, and business maturation, which may continue to adversely affect revenue growth[105]. Sales Channels and Marketing - In 2020, mobile sales accounted for 60.4% of total orders, highlighting the significant growth in digital channels[28]. - REVOLVE's marketing strategy drove 53% of traffic from free and low-cost sources in 2020, indicating effective brand awareness efforts[36]. - The company has over 7.5 million Instagram followers across its brands as of December 31, 2020, leveraging social media and influencer marketing to enhance brand awareness[54]. - The collective social media following of owned brands exceeded 4.4 million on Instagram as of December 31, 2020, representing a 47% increase from the previous year[38]. - Customer purchases using mobile devices have significantly increased, and the company expects this trend to continue, although challenges in integrating mobile applications may impact future growth[151]. Operational Efficiency - The company ships approximately 98% of orders on the same day if placed before noon Pacific Time, and offers free two-day shipping and free returns to customers in the United States[61]. - The company has invested in automation for its fulfillment operations, enhancing efficiency and scalability in response to customer demand[60]. - The fulfillment center, located in Los Angeles County, is critical for operations, and any capacity issues could lead to delays in order fulfillment and harm customer relationships[136]. - The company expects to incur higher capital expenditures for fulfillment center operations, which may be made in advance of expected sales that may not materialize[137]. - The company has implemented cost-cutting measures including salary reductions and furloughs due to the COVID-19 pandemic, but many of these measures have been reversed, with corporate employees now receiving at or above pre-COVID wages[149]. Technology and Data Analytics - The technology platform includes a database built over 18 years with hundreds of thousands of styles and millions of customer interactions, creating a strategic asset of hundreds of millions of data points[55]. - The proprietary technology infrastructure is highly scalable, supporting growth in customer demand and vendor relationships[56]. - The company relies on accurate data analytics for key performance metrics, and inaccuracies could harm its reputation and business operations[99]. - The company plans to invest significantly in upgrading its information technology systems to support growth, which may involve substantial capital expenditures and operational risks[210]. - The company is increasingly dependent on information technology, and any disruptions could materially adversely affect its operations and financial results[208]. Inventory and Supply Chain Management - The company does not have long-term agreements with manufacturers, allowing flexibility in its supplier network across various geographies[51]. - The company faces challenges in managing inventory effectively, as demand can change significantly, influenced by various factors including the pandemic and consumer trends[121]. - Due to COVID-19, the company reduced inventory receipts, leading to a significant decline in inventory balance, but plans to increase inventory purchases as consumer demand improves[128]. - The company faces risks related to sourcing and manufacturing, with potential price fluctuations impacting operating results, especially as it expands into new product categories[132]. - The company relies on third-party suppliers and manufacturers, and disruptions in their operations could negatively impact product availability and quality[139]. Competition and Market Risks - The company faces significant competition in the retail industry, which may pressure pricing and affect gross margins[98]. - Fluctuations in quarterly operating results may lead to stock price declines if results fall below analyst expectations[90]. - Changes in consumer preferences and fashion trends must be anticipated to avoid excess inventory or markdowns that could negatively impact profitability[87]. - The company acknowledges that negative publicity or customer complaints could severely impact consumer confidence and brand reputation[110]. - The company is pursuing international expansion and strategic acquisitions as part of its growth strategy[107]. Regulatory and Compliance Risks - The company is subject to payment-related risks, including potential increases in interchange fees and compliance with regulations, which could adversely affect operating results[152]. - The company faces risks related to compliance with product safety and labor laws, which could damage its reputation and result in increased costs[166]. - The company collects significant amounts of personal data, and non-compliance with privacy laws could adversely affect its reputation and result in monetary penalties[174]. - The EU's GDPR imposes penalties of up to €20 million or 4% of worldwide turnover for non-compliance, which could materially affect the company's financial results[177]. - The company faces significant political, legal, and economic risks in China, which could adversely affect its operations and financial condition[186]. Future Outlook and Strategic Initiatives - The company plans to grow international sales by localizing the shopping experience and leveraging its influencer network[45]. - The company aims to deepen customer relationships to improve revenue retention and increase wallet share through enhanced customer experience[43]. - The company is focused on expanding its product offerings and must react quickly to shifts in consumer preferences to maintain its competitive edge[126]. - The company anticipates that maintaining and enhancing brand relationships will require substantial investments, which may not yield successful outcomes[109]. - The company aims to introduce new products in traditional categories and expand into adjacent categories, though success may be limited by inexperience and competitive pressures[129].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-38927 REVOLVE GROUP, INC. (Exact name of Registrant as Specified in its Charter) (State or other jurisdiction of incorpor ...