Revolve Group Announces Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Revolve Group, Inc. reported strong financial results for Q4 and full year 2024, with double-digit growth in net sales and significant increases in net income and Adjusted EBITDA [2][12][13] Financial Performance - Q4 2024 net sales reached $293.7 million, a 14% increase from $257.8 million in Q4 2023 [3][5] - Gross profit for Q4 2024 was $154.3 million, up 15% year-over-year, with a gross margin of 52.5% [3][5] - Net income for Q4 2024 was $11.8 million, a 237% increase compared to $3.5 million in Q4 2023 [3][13] - Adjusted EBITDA for Q4 2024 was $18.3 million, reflecting a 114% year-over-year increase [3][13] - For the full year 2024, net sales totaled $1.13 billion, a 6% increase from $1.07 billion in 2023 [12][18] - Full year gross profit was $593.3 million, a 7% increase, with a gross margin of 52.5% [12][18] Operational Metrics - Active customers increased by 5% year-over-year to 2.67 million as of December 31, 2024 [4][14] - Total orders placed in Q4 2024 were 2.17 million, a 7% increase from 2.02 million in Q4 2023 [4][40] - Average order value in Q4 2024 was $301, slightly down from $303 in Q4 2023 [4][40] Segment Performance - The REVOLVE segment net sales were $252.0 million in Q4 2024, a 15% increase year-over-year, while the FWRD segment net sales were $41.8 million, an 11% increase [13][39] - Domestic net sales for Q4 2024 were $236.6 million, up 11% year-over-year, and international net sales were $57.1 million, a 29% increase [13][39] Cash Flow and Balance Sheet - Net cash provided by operating activities for the full year 2024 was $26.7 million, a decrease of 38% from $43.3 million in 2023 [12][18] - Free cash flow for the full year 2024 was $18.0 million, down 54% from $39.1 million in 2023 [12][18] - As of December 31, 2024, cash and cash equivalents were $256.6 million, a 5% increase from $245.4 million in 2023 [18][36] Business Outlook - The company provided guidance for FY 2025, expecting gross margin between 52.4% to 52.9% and general and administrative expenses between $155 million to $158 million [10][11]