Slide 1: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights May 6, 2025
Slide 2: Note on Forward-Looking Statements
PAGE 2 Note on Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “conte
Slide 3: Q1 2025 Summary
PAGE Q1 2025 SUMMARY 3 NET SALES NET INCOME ADJUSTED EBITDA(1) ($MM) ($MM) ($MM) +10% YoY Q1 24 included an insurance recovery 6.5% Adj. EBITDA Margin(1) $296.7 equivalent to $2.1M, net of tax +160 BPs YoY $270.6 +5% YoY +45% YoY $11.4 $19.3 $10.9 $13.3 Q1 Q1 Q1 Q1 Q1 Q1 2024 2025 2024 2025 2024 202
Slide 4: Net Sales by Segment and Geography
PAGE NET SALES BY SEGMENT AND GEOGRAPHY 4 NET SALES NET SALES NET SALES MIX BY SEGMENT AND BY SEGMENT BY GEOGRAPHY GEOGRAPHY IN Q1 2025 ($MM) ($MM) +11% YoY +9% YoY 86% $254.4 14% $229.6 $239.2 $219.1 81% REVOLVE FWRD +3% YoY +12% YoY $41.0 $42.3 $51.4 $57.5 81% 19% REVOLVE FWRD U.S. INTERNATIONAL U
Slide 5: Segment Results Over Time
PAGE SEGMENT RESULTS OVER TIME 5 SEGMENT NET SALES SEGMENT GROSS PROFIT ($MM) ($MM) +11% YoY +3% YoY +9% YoY +12% YoY 13% CAGR 19% CAGR 80% $250 (6 years) (6 years) $240 $150 86.00% $230 $140 $254.4 70% $237.7 $231.7 $220 $210 % of segment net sales $130 $229.6 $200 76.00% $120 $190 56% 56% 55% 60%
Slide 6: Operating Metrics Highlights
PAGE OPERATING METRICS HIGHLIGHTS 6 ACTIVE CUSTOMERS(1) TOTAL ORDERS PLACED(1) AVERAGE ORDER VALUE(1) (TRAILING 12 MONTHS, in 000s) (000s) 2,703 2,424 2,551 $299 $295 2,041 2,156 2,278 2,223 2,308 $288 $288 $259 $259 $256 1,528 1,477 1,262 1,135 1,172 1,282 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1
Slide 7: Cost and Margin Structure
PAGE COST AND MARGIN STRUCTURE 7 GAAP OPERATING INCOME MARGIN ADJUSTED EBITDA MARGIN(1) 11.9% 13.0% 10.0% 11.1% 5.0% 6.2% 5.4% 6.5% 2.6% 4.4% 3.4% 5.0% 3.8% 4.9% Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 AS A % OF NET SALES Q1 25
Slide 8: Earnings Per Share
PAGE EARNINGS PER SHARE 8 THE EPS MATH (000s, except per share figures and percentages) Q1 25 Q1 24 YoY Q1 DILUTED EPS Income before income taxes $15,581 $14,649 6% Q1 24 EPS included an insurance recovery equivalent to $0.03 per share. Provision for income taxes (4,175) (3,776) 11% $0.30 $0.30 Effe
Slide 9: Cash Flow and Balance Sheet Highlights
PAGE CASH FLOW AND BALANCE SHEET HIGHLIGHTS 9 NET CASH PROVIDED BY FREE CASH FLOW(1) CASH & CASH EQUIVALENTS, NET(2) OPERATING ACTIVITIES ($MM) ($MM) ($MM) +18% YoY +17% YoY 4X in Past 5 Years +$44M, Despite $42M in or +17% QoQ stock repurchases $300.8 $300.8 $283.3 $270.6 $273.4 $256.6 $52.7 $53.8
Slide 10: Build Up of Free Cash Flow in Q1 2025
PAGE BUILD UP OF FREE CASH FLOW IN Q1 2025 10 $18.2 $42.8 ($1.8 ) ($0.6 ) $ Millions $15.6 $11.4 Net Income Decrease in Inventory Decrease of Other Capital Expenditures Purchases of Rental Free Cash Flow Working Capital and Product Other
Slide 11: Balance Sheet Highlights
PAGE BALANCE SHEET HIGHLIGHTS 11 INVENTORY YoY SALES GROWTH % MINUS YoY INVENTORY GROWTH % ($MM) Inventory Decreased 7% QoQ and Further Improvement in Comparison Between YoY Sales Increased 6% YoY Growth and YoY Inventory Growth in Q1 2025 $229 $214 $214 $202 5% 4% $190 1% 1% $179 (4%) (7%) (9%) (11
Slide 12: Appendix: Definitions and Reconciliations
PAGE PAGE 12 12 1 APPENDIX: DEFINITIONS AND RECONCILIATIONS
Slide 13: Upcoming Investor Conferences
PAGE UPCOMING INVESTOR CONFERENCES 13 BAIRD CONSUMER, TECHNOLOGY AND SERVICES CONFERENCE • JUNE 3, 2025 TD COWEN FUTURE OF THE CONSUMER CONFERENCE • JUNE 4, 2025 WILLIAM BLAIR GROWTH STOCK CONFERENCE • JUNE 5, 2025
Slide 14: GAAP to Non-GAAP Reconciliation
PAGE GAAP TO NON-GAAP RECONCILIATION 14 ADJUSTED EBITDA ($MM) (1) Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 NET INCOME $5.0 $4.2 $22.3 $22.6 $14.2 $10.9 $11.4 (+) OTHER EXPENSE (INCOME), NET 0.2 (0.1) 0.2 (0.5) (6.6) (5.3) (0.9) (+) PROVISION FOR (BENEFIT FROM) INCOME 1.7 (0.2) (1.3) 6