Chewy, Inc. · NYSE:CHWY
Chewy — Q1 2025 Earnings Presentation
16 slides from Chewy's earnings presentation, Jun 11, 2025
Slide 1: Q1 2025 Financial Results
Q1 2025 Financial Results June 11, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this communication, including statements regarding our share repurchase
Slide 3: Key Recent Highlights
Key Recent Highlights 240K $23.2M Net Sequential Active Capital Returned to Customer Adds Shareholders in Q1 251 Financial Metrics $583 82.2% $192.7M Net Sales Per Autoship Customer Sales Q1 25 Adj. EBITDA Active Customer2 as a % of Net Sales3 (6.2% Margin)4 (1) Represents executed share repurchases
Slide 4: Net Sales
Net Sales Full Year Quarterly ($ Millions) ($ Millions) $11,861 $12,100 $11,148 $3,247 $3,116 $10,119 $2,878 $2,859 $2,878 1 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 FY 22 FY 23 FY 24 LTM % YoY Growth % YoY Growth 12.8% 10.2% 6.4% 7.7% 3.1% 2.6% 4.8% 14.9% 8.3% (1) "LTM" is defined as Last Twelve Months and re
Slide 5: Autoship Customer Sales
1 Autoship Customer Sales Full Year Quarterly ($ Millions) ($ Millions) $9,723 $9,393 $8,493 $7,408 $2,617 $2,563 $2,233 $2,242 $2,301 2 FY 22 FY 23 FY 24 LTM Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 % YoY Growth % YoY Growth 17.1% 14.7% 10.6% 12.7% 6.4% 5.8% 8.7% 21.2% 14.8% (1) We define Autoship customers a
Slide 6: Net Sales Per Active Customer ("NSPAC")
1 Net Sales Per Active Customer (“NSPAC”) $579 $583 $555 $562 $496 FY 22 FY 23 FY 24 Q1 24 Q1 25 Active Customers2 (Millions) 20.4 20.1 20.5 20.0 20.8 (1) We define net sales per active customer (“NSPAC”) as the aggregate net sales for the preceding four fiscal quarters, divided by the total number
Slide 7: Gross Margin
Gross Margin Full Year Quarterly (%) (%) 29.2% 29.2% 29.7% 29.5% 29.6% 29.3% one-time 28.4% items2 28.5% 28.0% 1 FY 22 FY 23 FY 24 LTM Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Gross Profit ($ Millions) Gross Profit ($ Millions) $2,834 $3,162 $3,468 $3,538 $854 $844 $844 $926 $924 (1) "LTM" is defined as Last T
Slide 8: Adjusted EBITDA
1 Adjusted EBITDA Full Year Quarterly ($ Millions) ($ Millions) $600 $193 $571 $163 $145 $138 $125 $368 $307 FY 22 FY 23 FY 24 LTM 2 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 % Margin1 % Margin1 3.0% 3.3% 4.8% 5.0% 5.7% 5.1% 4.8% 3.8% 6.2% (1) Adjusted ("Adj.") EBITDA and adjusted EBITDA margin are non-GAAP fin
Slide 9: Free Cash Flow
1 Free Cash Flow Full Year Quarterly ($ Millions) ($ Millions) $452 $449 $157 $152 $343 $91 $53 $49 $119 2 FY 22 FY 23 FY 24 LTM Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q1 FY25 Cash Balance: $616M (1) Free cash flow (“FCF”) is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional info
Slide 10: Guidance
Guidance Fiscal Second Quarter 2025 $3.06 billion - $3.09 billion Net Sales Approximately 7 to 8% YoY growth Adj. Diluted EPS1 $0.30 - $0.35 Fiscal Year 2025 Net Sales $12.30 billion - $12.45 billion Adj. EBITDA Margin1 5.4% - 5.7% (1) Adjusted ("Adj.") EBITDA Margin and adjusted ("Adj.") diluted ea
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin To provide investors with additional information regarding our financial results, we have disclosed adjusted EBITDA, a non-GAAP financial measure that we calculate as net income excluding depreciation and amortization; share-base
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin Because of these limitations, you should consider adjusted EBITDA and adjusted EBITDA margin alongside other financial performance measures, including various cash flow metrics, net income, net margin, and our other GAAP results.
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted Net Income and Adjusted Basic and Diluted Earnings per Share To provide investors with additional information regarding our financial results, we have disclosed in this communication adjusted net income and adjusted basic and diluted earnings per share, which rep
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted Net Income and Adjusted Basic and Diluted Earnings per Share The following table presents a reconciliation of net income to adjusted net income, as well as the calculation of adjusted basic and diluted earnings per share, for each of the periods indicated: (in mi
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures Free Cash Flow To provide investors with additional information regarding our financial results, we also disclose free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures (which consist of purcha
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