Press release
Stitch Fix Announces Second Quarter of Fiscal Year 2025 Financial Results
SAN FRANCISCO, March 11, 2025 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ: SFIX), the leading online personal styling service, today announced its financial
About this update from Stitch Fix, Inc.
[{"type":"text","content":"SAN FRANCISCO, March 11, 2025 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ: SFIX), the leading online personal styling service, today announced its financial results for the second quarter of fiscal year 2025, ended February 1, 2025. “Our team delivered another strong quarter, once again exceeding our expectations as we further advanced our transformation strategy,” said Matt Baer, CEO, Stitch Fix. “Our clients are responding to the improvements we’ve made to our experience, including the increased newness in our assortment, expanded Fix flexibility, and investments in stronger client-Stylist relationships. We are encouraged by our progress and remain focused on successfully executing our strategy so we can realize our vision to be the most client-centric and personalized shopping experience.” Second Quarter Fiscal 2025 Key Metrics and Financial Highlights Net revenue of $312.1 million, a decrease of 5.5% year-over-year.Active clients of 2,371,000, a decrease of 63,000, or 2.6%, quarter-over-quarter; and a decrease of 434,000, or 15.5%, year-over-year.Net revenue per active client (“RPAC”) of $537, an increase of 4.3% year-over-year.Gross margin of 44.5%, an increase of 110 basis points year-over-year, driven primarily by higher average order values and improved product margins.Net loss of $6.6 million and diluted loss per share of $0.05.Adjusted EBITDA of $15.9 million and Adjusted EBITDA margin of 5.1%, which reflect continued cost management discipline.Net cash used in operating activities of $16.2 million and free cash flow of negative $19.4 million in the second fiscal quarter.We ended the quarter with $229.8 million of cash, cash equivalents, and investments; and no debt. Financial Outlook Our updated financial outlook for the third quarter of fiscal 2025, ending May 3, 2025, is as follows: Q3 2025Net Revenue$311 million - $316 million(3.6)% - (2.1)% YoYAdjusted EBITDA$7 million - $10 million2.3% - 3.2% margin Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to July 31. The fiscal year 2025 is a 52-week year and the fiscal year 2024 was a 53-week year, with the extra week occurring in the fourth quarter ending August 3, 2024. Our financial outlook for fiscal year 2025 is as follows: Fiscal Year 2025Net Revenue$1.225 billion - $1.240 billion(8.4)% - (7.3)% YoY(6.9)% - (5.8)% YoY adjusted to a 52...